Following a surge in sales across contact lenses, spectacles, and sunglasses in previous years, eyewear in the US is set to experience slower, but positive, current value growth in 2024. With consumers embracing the “new normal” of the higher cost of goods, there continue to be further intra-category polarities in eyewear performances across value and volume.
Luxury players were pivotal in the rebound seen for sunglasses in the US market during 2021 and 2022, driven by higher unit prices and consumers’ aspirational luxury spending. However, in 2023 and early 2024, sales of luxury sunglasses faltered, failing to outpace the broader sunglasses category, facing challenges from increased consumer saving behaviour, cautious spending on non-essential products, and emerging online marketplaces.
In 2023, eyewear in the US was still largely controlled by a small number of leading companies. Johnson & Johnson Vision Care Inc, Alcon Vision LLC, and CooperVision Inc held the top three positions in contact lenses in the US in value terms in 2023.
Retail e-commerce remains a crucial sales platform for contact lenses, with an expected increase in both revenue and share of distribution in 2024. The success of this channel can be attributed to various factors, such as the availability of coupon codes, online eye tests, and convenient home delivery options.
With rising vision problems and a growing focus on eye health, eyewear in the US is positioned for continued, albeit potentially slower growth throughout the forecast period. Given advances in AI/AR technologies in optical care over the past few years, eyewear in the US is likely to see the expansion of investments and innovations in smart lenses across contact lenses, spectacles, and sunglasses over the forecast period.
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Eyewear
Eyewear is the aggregate of contact lenses, spectacles and sunglasses.
See All of Our DefinitionsThis report originates from Passport, our Eyewear research and analysis database.
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