- Market Research
Eyewear fashion trends to bolster eyewear market growth
Eyewear market to be worth US$265.4 billion by 2025
ALBANY, New York (PRNewswire) – According to Transparency Market Research (TMR), a global market intelligence company, the global eyewear market depicts on the basis of a recently published report a substantially competitive vendor landscape comprising a plethora of large-scale as well as small-scale organizations. The competition is expected to get tougher with frequent entries of new players in the global eyewear market in forthcoming years. This is also expected to cause significant changes to dynamic consumer preferences and associated regulations, as businesses in this market are working on bringing about improved product quality.
Many companies operating in the global eyewear market are keen on expansion of production capacity, as well as, increasing geographical reach. TMR experts anticipate several of these enterprises to come up with innovative designs with inexpensive rates in the upcoming years.
The global eyewear market had registered a revenue gain of US$132.7 bn in 2016, which is further expected to grow up to US$265.4 bn by 2025. This growth is expected to occur alongside an impressive CAGR of 8.3% during the forecast period from 2017 to 2025.
Furthermore, a trend involving purchasing eyewear and using it from a fashion-based perspective has been increasingly spreading in recent times. This trend could offset some of the restraint's affecting the market, thereby opening up a path towards success for the global eyewear market. North America, South America, Asia Pacific, Europe, and the Middle East and Africa are key regions depicting maximum growth of the global eyewear market.