Aug. 8, 2024 — The U.S. eyewear market, valued at approximately $18.26 billion in 2023, is projected to grow to $19.14 billion in 2024 and reach about $30.32 billion by 2033, according to a new report from Custom Market Insights. The study highlights a compound annual growth rate of 5.2% during the forecasted period of 2024 to 2033.

Available for purchase, the in-depth report provides a comprehensive analysis of market dynamics, segmentation by product type, material, lens type, end-user, and distribution channel, as well as regional insights. It also covers the competitive landscape, including recent partnerships, acquisitions, and technological innovations.

The study highlights key factors driving the expected market growth, including a rising prevalence of vision disorders, an aging population, and increasing consumer interest in fashionable eyewear. The market is also benefiting from technological advancements in lens materials and a growing awareness of eye health. Moreover, the expansion of distribution channels, including online platforms, is enhancing market accessibility and consumer convenience.

The report also noted challenges, such as competition from online retailers and the threat of counterfeit products. Additionally, the eyewear market experienced both positive and negative impacts from the COVID-19 pandemic, including supply chain disruptions and a shift toward online retail.