The market capacity and trend of the US eyewear industry

The global eyewear market, consisting of eyeglasses, contact lenses, sunglasses, and other eyewear products, was valued at approximately $140 billion in 2020 and is expected to reach $197 billion by 2027. Vision care is a multi-billion dollar market in the United States. The eyewear market in the U.S. is expected to grow every year starting in 2020. This market is divided into three main categories: eyeglasses, sunglasses, and contact lenses. The Luxottica eyewear brand operates 3,617 retail stores in North America, and Luxottica is one of the leading eyewear retailers in the U.S. in 2020 with approximately $2 billion in sales. That year, the Luxottica Group had global sales of approximately $7.7 billion. Luxottica is one of the largest eyewear companies in the world, responsible for Ray-Ban, Persol, Oakley and many more brands. In 2017, Luxottica and another eyewear giant, Essilor, agreed to merge to create EssilorLuxottica. The eyewear market will continue to grow as long as manufacturers continue to adhere to the constant demands and trends of consumers. U.S. Consumers While Luxottica retail stores are a popular specialty store for U.S. consumers to buy eyeglasses, retailers such as Walmart and Costco also meet consumer demand for eyeglasses. More than 80% of Americans wear sunglasses during the summer. Another popular channel for US consumers to buy glasses is online. In 2019, more than 7 million prescription glasses were sold online in the US.