Global Eyewear Market Going Green with Eco-friendly Glasses

The global eyewear market is worth billions of dollars and is projected to grow significantly in the coming few years. The global eyewear market is driven by the rising user base, increasing disposable income levels, and growing renewal rate of lenses. Another trend that is shaping the growth of the global eyewear market is the rising demand for eco-friendly eyewear. Many companies in the global eyewear market observing this business opportunity have launched their own eco-friendly eyewear range, while some new companies have entered the market with their green offerings.

Rising Number of Companies Entering Eyewear Market

• In 2013, Giving Tree Eyewear, a Los Angeles-based eyewear line, offered shades that are eco-friendly and nearly indestructible. These sunglasses are available in the market in two silhouettes and many colors. They are completely BPA-free and made using thermoplastic material makes them lightweight and bendable.

• In March 2015, Illesteva, a NYC-based brand, launched its new range of eyewear called Leonard. The designs in this range are 100% biodegradable and are made using repurposed cellulose acetate flake and sustainable organic plasticizers.

• In December 2015, Nau!, an eyewear brand headquartered in Milan, launched its green eyewear range. This collection is made using 96% recycled plastic material and is committed to protecting the environment. This range comprises eco-friendly, funky, and colorful sunglasses and optical frames.

• Currently, many other companies are offering eco-friendly glasses. Woodzee offers wayfarer-style frames made using bamboo. Another firm called Warby Parker provides glasses made using green materials. Grown offers organic, sustainable wooden eyewear handcrafted from ethically sourced, renewable hardwoods and bamboo.

The growing base of environment-conscious consumers is projected to drive the demand for green products in the global eyewear market. Hence, companies in the global eyewear market are competing on the basis of materials. Companies are innovating materials that are eco-friendly and have other properties such as high durability and resistance to corrosion.

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Bamboo is one of the common materials used to make eco-friendly eyewear. On the other hand, brands such as Urban Spectacles are using materials from naturally-felled trees. Certain companies are using materials that are derived from non-GMO, organic plants that are highly renewable and non-foodstuff.

Besides the rising demand for eco-friendly eyewear, players in the global eyewear market will also benefit from the opportunity presented by the large population living with uncorrected vision. Furthermore, the unavailability of testing in many regions of the world will also provide significant growth opportunities to companies in the global eyewear market.

Nevertheless, players in the global eyewear market will be restrained by the growing number of refractive surgeries. These surgeries are reducing or in some cases eliminating the need for contact lenses or glasses. This decreasing dependence on glasses is expected to hamper the growth of the global eyewear market by a great extent in the foreseeable future.

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Launch of New Products by Top Players to Boost Eyewear Market

The eyewear market is majorly fuelled by the increasing population suffering from conditions such as presbyopia, myopia, astigmatism, and hyperopia. Thus, the increasing demand for corrective eyewear is the key driving factor responsible for the market’s growth. The younger generation, still in the vision development process, nowadays spends more time indoors in playing video games, watching TV, and interacting with numerous electronic devices, hence increasing the risk of vision problems. Additionally, senior and middle-aged consumers usually undergo a number of vision problems and use either prescription eyewear or reading glasses that are readymade for improving their vision.  Sunglasses and regular eyeglasses have also emerged as popular style statements. This is why manufacturers are continuously launching new eyewear having different styles and shapes for capitalizing on this developing trend. All these factors are poised to stimulate the global eyewear market.

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There are a number of products in the eyewear market such as spectacles, including spectacle frames and spectacle lenses, contact lenses, and Plano sunglasses. TMR, a market intelligence company, elaborates on the new innovations in eyeglass lenses being introduced in the eyewear market by key players and explains the ways in which these products help in improving consumers’ vision.

·         Digital Lenses for Bespectacled Digital Device Users by Zeiss: Zeiss has launched various eyeglass coatings and lenses that are particularly made keeping in mind digital device users. The new digital lenses have been introduced by Zeiss in May 2015 and are designed for people who usually wear single vision lenses but require an extra boost while working on electronic devices. The Zeiss progressive lenses are optimized for achieving different vision goals. Amongst the lenses, Precision Pure lenses are made for the closer reading distance required while using tablets, computers, and smartphones, among others. Precision Plus lenses are the same as Precision Pure lenses, another category of Zeiss’ progressive lenses, but present a wider range of frame styles that cannot be accessed in other progressive lenses.

·         Signature VII Photochromic Lenses by Transitions Optical:  These lenses have been recently introduced and feature a new molecular and dye formulation technology that has made these lenses much more responsive to UV radiation as compared to all other lenses.  The Signature VII lenses become dark when exposed to indirect lightning and during hot days they become photochromic lenses. These lenses fade back to clear to present optimal clarity while they are being used indoors.

·         Recharge EX3 AR by Hoya Vision Care: This is an anti-reflective next-generation lens treatment utilized to filter blue or HEV light. HEV light has a number of potential hazards related to it, such as blurred vision, eye fatigue, sleep disorders, headaches, and retinal photoreceptors getting damaged over time. This light is emitted by handheld devices including smartphones, portable electronic devices, e-readers, etc. Recharge EX3 AR lenses prevent blue light from reaching the eye and thus enhance visual comfort along with lowering problems related to high-energy visible light.

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These, along with a number of market in the coming future. However, the increasing popularity of refractive surgeries may impede the growth of the market in the forthcoming years.