Europe Eyewear Market Overview
The Europe eyewear market was valued at USD 67.09 billion in 2023 and is projected to reach USD 110.08 billion by 2030, growing at a CAGR of 7.3% from 2024 to 2030. The market expansion is primarily driven by the increasing incidence of ophthalmic conditions, including presbyopia, myopia, astigmatism, and hyperopia, along with a rising awareness of the importance of regular eye exams and overall eye health.
Moreover, the growing trend of using eyewear as a fashion accessory, especially among younger demographics, further contributes to market growth. In 2023, Europe accounted for a 36.6% share of the global eyewear market revenue. Additional market drivers include rapid urbanization, continuous innovation in healthcare and wearable technologies, and a significantly large aging population.
According to the Population Reference Bureau (PRB), Europe has the oldest population globally, with nearly 19% of its population aged 65 and above—equivalent to roughly one in five people. This demographic shift significantly impacts the demand for eyewear. Furthermore, the global perception of eyewear as a fashion item motivates brands to release new products aligned with both technological advancements and evolving fashion preferences, often guided by customer behavior insights.
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Brand visibility and awareness have also played a vital role in market acceleration. Consumer preferences today are influenced by several factors including social media engagement, virtual try-on technologies, and the proliferation of e-commerce platforms dedicated to eyewear. These elements have proven particularly effective in attracting millennial and Gen Z consumers, who increasingly favor online shopping and view eyewear as both a necessity and a style statement.
Key Market Trends Insights
- Germany led the market with the highest revenue share of 20.1% in 2023, supported by a large millennial base and the presence of multiple renowned fashion brands.
- Spectacles dominated the product segment, capturing 71.4% of the market in 2023, largely due to the growing prevalence of Computer Vision Syndrome (CVS) from extensive screen usage.
- By distribution channel, brick-and-mortar stores held the majority share at 79.1% in 2023, owing to increased public awareness about regular eye exams and the need for corrective eyewear.
Market Size Forecast Snapshot
- 2023 Market Size: USD 67.09 Billion
- Forecast for 2030: USD 110.08 Billion
- CAGR (2024–2030): 7.3%
Leading Companies in the Europe Eyewear Market
Key and emerging companies active in the European eyewear sector include:
- Alcon
- De Rigo S.p.A.
- EssilorLuxottica
- Fielmann AG
- MARCOLIN SPA
- PRADA S.P.A.
- Rodenstock GmbH
- SAFILO GROUP S.P.A.
- Zeiss International
- Silhouette International Schmied AG
Among them:
- PRADA S.P.A., headquartered in Milan, Italy, is a prominent luxury brand offering a wide range of eyewear products, including high-vision lenses, anti-reflective coatings, photochromic lenses, and fashion-forward designs.
- Rodenstock GmbH, established in 1877, is a leading German manufacturer of ophthalmic lenses and spectacle frames. The company operates manufacturing sites in 13 countries, such as Denmark, Brazil, Italy, and the UK, and maintains a distribution network across more than 85 countries worldwide.
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Conclusion
The Europe eyewear market is witnessing significant growth, propelled by increasing eye health concerns, fashion-driven consumer preferences, and the impact of technological innovations in retail and product design. With strong contributions from major markets like Germany and rising interest among millennials and Gen Z consumers, the sector is expected to maintain its momentum through 2030. The presence of a large aging population, along with the continued expansion of e-commerce and virtual try-on technologies, ensures a dynamic and competitive landscape for eyewear manufacturers and retailers alike.
