Europe Eyewear Market Size

Europe Eyewear Market Size

Europe eyewear market size was valued at USD 55.5 billion in 2023 and is anticipated to register a CAGR of 4.5% between 2024 and 2032. The growing use of digital devices like smartphones, computers, and tablets has led to an increase in cases of myopia, hyperopia, and astigmatism.

To get key market trends

  Download Free Sample

Prolonged screen exposure has resulted in conditions such as Computer Vision Syndrome (CVS), impacting both children and adults.  In addition to this, heightened awareness of eye health is motivating consumers to be more diligent in scheduling regular eye examinations, which further boosts the demand for high-quality prescription glasses and contact lenses.
 

Additionally, Europe’s aging population is a significant progression driver for the eyewear market. Europe has the world's oldest population, with individuals aged 65 years and older comprising approximately 19% of the total population, or nearly one in five, according to the Population Reference Bureau (PRB). This high percentage of older adults significantly influences the eyewear market. Additionally, eyewear is widely perceived as a fashion accessory globally. This perception encourages eyewear brands to regularly introduce new products incorporating the latest technologies and fashion trends, identified through analysis of customer behavior data.
 

The Europe eyewear industry, particularly in the luxury segment, faces significant challenges due to the prevalence of counterfeit products. These fake goods, often sold at lower prices, undermine the value of branded luxury eyewear and dilute their reputation. As a result, premium eyewear brands struggle to maintain their pricing power and justify higher costs, especially when consumers can find similar-looking counterfeit products at a fraction of the price. This is a major issue in markets where brand prestige and quality are central to consumer decisions.