Optical Retail Chain Market Size
| Study Period | 2020-2029 |
| Market Size (2024) | USD 182.22 Billion |
| Market Size (2029) | USD 231.34 Billion |
| CAGR (2024 - 2029) | 4.89 % |
| Fastest Growing Market | North America |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Optical Retail Chain Market Analysis
The Optical Retail Chain Market size is estimated at USD 182.22 billion in 2024, and is expected to reach USD 231.34 billion by 2029, growing at a CAGR of 4.89% during the forecast period (2024-2029).
The optical retail chain market refers to the industry sector composed of businesses selling eyeglasses, contact lenses, sunglasses, and related visual products through retail stores. These chains typically operate multiple locations across various regions or countries, offering consumers a wide range of eyewear products and services.
Optical retail chains usually offer diverse eyewear products, including prescription glasses, sunglasses, contact lenses, and accessories such as cases and cleaning solutions. Many optical retail chains provide additional services such as eye exams conducted by licensed optometrists or opticians, eyeglasses adjustments and repairs, and assistance selecting frames or lenses. Changing demographics, fashion trends, and lifestyle preferences impact consumer demand for eyewear products and services. Increasing awareness of eye health, fashion-conscious consumers, and the rise of digital device usage may influence purchasing decisions. Many optical retail chains have an online presence, allowing customers to browse products, schedule appointments, and even purchase eyewear remotely. Integrating online and offline channels is becoming increasingly important in the optical retail sector.
Optical Retail Chain Market Trends
Offline Optical Retail Chain is Driving the Market
The prevalence of ocular diseases, such as cataracts, glaucoma, and age-related macular degeneration, is on the rise globally. These conditions impact vision and can lead to severe complications if left untreated. As a result, there is a growing demand for vision care products and services, including eyewear and prescription lenses, driving the growth of the offline optical chain market. The demand for vision care services and products is higher with aging populations worldwide. The elderly often need more frequent eye examinations and treatments, increasing sales in the offline optical chain market.
North America Holds Largest Shares in Optical Retail Chain Market
The optical retail chain market is the largest in North America, particularly in the United States, followed by Europe. These regions have well-established markets with high consumer awareness about eye health and access to vision care services. Some of North America's significant optical retail chains include LensCrafters, Pearle Vision, Visionworks, and America's Best Contacts & Eyeglasses. These retailers often offer a variety of eyewear brands, styles, and lens options to cater to different needs and preferences. Additionally, many optical retailers in North America provide eye exams and other vision care services to their customers.
Optical Retail Chain Industry Overview
The optical retail chain market is fragmented, with a mix of large and small players. While major international brands and retailers dominate the market, independent and regional optical stores have a significant presence, especially in developing regions like India. It offers many high-quality eyewear products, including glasses, sunglasses, and contact lenses. It partners with popular and trusted brands to attract customers. Through these collaborations, companies may enlarge their market presence and secure a competitive edge within the industry. The key players include. Luxottica Group SpA, Essilor International SAS, Johnson & Johnson Vision Care Inc., Safilo Group SpA, and Alcon Vision LLC.
Optical Retail Chain Market Leaders
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Luxottica Group S.p.A.
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Essilor International SAS
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Johnson & Johnson Vision Care Inc.
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Safilo Group S.p.A.
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Alcon Vision LLC
*Disclaimer: Major Players sorted in no particular order
Optical Retail Chain Market News
- July 2023: Johnson & Johnson completed the sale of its Blink product line, which includes over-the-counter eye and contact lens drops, to Bausch + Lomb for USD 106.5 million. This divestment was a strategic move by Johnson & Johnson to exit the consumer business.
- November 2022: Alcon acquired Aerie Pharmaceuticals Inc., strengthening its ophthalmic pharmaceutical business and acquiring a pipeline of pharmaceutical product candidates. This transaction aimed to enhance Alcon's position in the eye drug market, focusing on expanding its product portfolio.
Optical Retail Chain Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS AND INSIGHTS
- 4.1 Market Overview
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4.2 Market Drivers
- 4.2.1 Increasing Awareness of Eye Health
- 4.2.2 Eyewear has Become an Integral Fashion Accessory
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4.3 Market Restraints
- 4.3.1 Changes in Healthcare Policies and Insurance Coverage for Vision Care
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4.4 Market Opportunties
- 4.4.1 Offering Personalized Eyewear Solutions
- 4.5 Value Chain Analysis
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4.6 Industry Attractiveness: Porter's Five Forces Analysis
- 4.6.1 Threat of New Entrants
- 4.6.2 Bargaining Power of Buyers
- 4.6.3 Bargaining Power of Suppliers
- 4.6.4 Threat of Substitutes
- 4.6.5 Intensity of Competitive Rivalry
- 4.7 Insights into Technological Advancements in the Industry
- 4.8 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
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5.1 By Service
- 5.1.1 Beauty and Personal Care
- 5.1.2 Food And Beverages
- 5.1.3 Entertainment
- 5.1.4 Others Services
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5.2 By End User
- 5.2.1 Men
- 5.2.2 Women
- 5.2.3 Kids
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5.3 By Mode of Payment
- 5.3.1 Online Payment
- 5.3.2 Cash on Delivery
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5.4 By Geography
- 5.4.1 Asia-Pacific
- 5.4.1.1 India
- 5.4.1.2 China
- 5.4.1.3 Japan
- 5.4.1.4 Australia
- 5.4.1.5 Rest of Asia- Pacific
- 5.4.2 North America
- 5.4.2.1 United States
- 5.4.2.2 Canada
- 5.4.2.3 Rest of North America
- 5.4.3 Europe
- 5.4.3.1 Germany
- 5.4.3.2 United Kingdom
- 5.4.3.3 France
- 5.4.3.4 Russia
- 5.4.3.5 Rest of Europe
- 5.4.4 South America
- 5.4.4.1 Brazil
- 5.4.4.2 Argentina
- 5.4.4.3 Rest of South America
- 5.4.5 Middle East & Africa
- 5.4.5.1 United Arab Emirates
- 5.4.5.2 South Africa
- 5.4.5.3 Rest of Middle East & Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Market Concentration Overview
- 6.2 Company Profiles
- *List Not Exhaustive
- 6.3 Luxottica Group SpA
- 6.4 Essilor International SAS
- 6.5 Johnson & Johnson Vision Care Inc.
- 6.6 Safilo Group SpA
- 6.7 Alcon Vision LLC
- 6.8 Oakley Inc.
- 6.9 The Cooper Companies Inc.
- 6.10 Bausch & Lomb Incorporated
- 6.11 Hoya Corportation
- 6.12 Carl Zeiss AG*
7. MARKET FUTURE TRENDS
8. DISCLAIMER AND ABOUT US
Optical Retail Chain Industry Segmentation
Optical retail chains are businesses primarily selling prescription and non-prescription eyewear, including lenses, eyeglasses, and contact lenses. They typically operate numerous outlets across various locations, providing consumers with multiple eyewear options. The optical retail chain market forecast is segmented by product (spectacles, sunglasses, and contact lenses), gender (men, women, and unisex), distribution channel (offline online), and geography (Asia-Pacific, North America, Europe, South America, and the Middle East & Africa). The report offers the market size in value terms in USD for all the abovementioned segments. The report offers the market size in value terms in USD for all the abovementioned segments.
| By Service | Beauty and Personal Care | |
| Food And Beverages | ||
| Entertainment | ||
| Others Services | ||
| By End User | Men | |
| Women | ||
| Kids | ||
| By Mode of Payment | Online Payment | |
| Cash on Delivery | ||
| By Geography | Asia-Pacific | India |
| China | ||
| Japan | ||
| Australia | ||
| Rest of Asia- Pacific | ||
| By Geography | North America | United States |
| Canada | ||
| Rest of North America | ||
| By Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Russia | ||
| Rest of Europe | ||
| By Geography | South America | Brazil |
| Argentina | ||
| Rest of South America | ||
| By Geography | Middle East & Africa | United Arab Emirates |
| South Africa | ||
| Rest of Middle East & Africa |
Optical Retail Chain Market Research FAQs
How big is the Optical Retail Chain Market?
The Optical Retail Chain Market size is expected to reach USD 182.22 billion in 2024 and grow at a CAGR of 4.89% to reach USD 231.34 billion by 2029.
What is the current Optical Retail Chain Market size?
In 2024, the Optical Retail Chain Market size is expected to reach USD 182.22 billion.
Who are the key players in Optical Retail Chain Market?
Luxottica Group S.p.A., Essilor International SAS, Johnson & Johnson Vision Care Inc., Safilo Group S.p.A. and Alcon Vision LLC are the major companies operating in the Optical Retail Chain Market.
Which is the fastest growing region in Optical Retail Chain Market?
North America is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Optical Retail Chain Market?
In 2024, the North America accounts for the largest market share in Optical Retail Chain Market.
What years does this Optical Retail Chain Market cover, and what was the market size in 2023?
In 2023, the Optical Retail Chain Market size was estimated at USD 173.31 billion. The report covers the Optical Retail Chain Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Optical Retail Chain Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Optical Retail Chain Industry Report
Statistics for the 2024 Optical Retail Chain market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Optical Retail Chain analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
