Europe Eyewear Market Analysis

Europe Eyewear Market Analysis

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Based on Product Type, the Europe eyewear market is segmented into spectacles, contact lens, and sunglasses. The spectacles dominated the market in 2023, generating a revenue of USD 25.4 billion and is expected to grow at a CAGR of 4% during the forecast period from 2024-2032. The widespread adoption of smartphones and digital devices has led to a global increase in Computer Vision Syndrome (CVS) cases. Furthermore, the growing trend of online learning and remote education has resulted in a higher incidence of CVS among children. This rise in digital screen usage across various age groups and educational settings has significantly contributed to the prevalence of CVS worldwide.
 

Based on distribution channel the Europe eyewear industry is categorized into online and offline. The online distribution channel dominated the industry in 2023, acquiring a market share of 63.9% and is expected to grow at a CAGR of 4.2% from 2024-2032 due to increasing adoption of smartphone technology and the growing preference for online shopping. This shift is because of the convenience of services like doorstep delivery, easy returns and refunds, improved customer support, and various payment options. Additionally, e-commerce platforms attract customers with special offers for frequent buyers and subscribers. The integration of advanced technologies, such as virtual try-on features, is also drawing more consumers to purchase eyewear through online channels.
 

U.K. leads the Europe eyewear market with revenue of around USD 11.8 billion in the year 2023 and expected to reach around USD 16.2 billion by 2032. The U.K. business also benefits from strong consumer spending on fashion and premium eyewear, making spectacles and sunglasses both a necessity and a style statement. Moreover, widespread access to vision care services and insurance coverage enhances the accessibility and adoption of eyewear solutions.