According to Future Market Insights research, during the projected period, the global eyewear packaging market is set to enjoy a valuation of US$ 240.7Million in 2022, and further expand at a CAGR of 4.4% to reach US$ 356.2 Million by the year 2032. The sales of the boxes by product type are anticipated to bolster with the top 3 countries estimated to hold around 30 to 35% of the market by the end of 2022.
Based on the material, the plastic segment is projected to remain the leading segment among the other material used for manufacturing eyewear packaging. The reason behind the same is accessibility and greater product protection. The plastic segment is estimated to expand 1.7x current market value from 2022 to 2032.
Attributes
Details
Market Size 2022
US$ 240.7 Million
Market Size 2032
US$ 356.2 Million
Value CAGR (2022 to 2032)
4.4%
Collective Value Share: Top 3 Countries (2022E)
30 to 35%
According to the FMI analysis, the eyewear packaging market revenue totaled US$ 235.7 Million in 2021. With the driving demand from the various end-users, the global eyewear packaging market is projected to reach US$ 356.2 Million by 2032, speeding up at a CAGR of 4.4 % during the forecast period.
The eyewear packaging market is estimated to experience a positive growth outlook during the forecast period. A new forecast by FMI anticipates that the eyewear packaging sales will rise from 2022 to 2032 and is projected to create an absolute incremental growth opportunity of US$ 120.5 Million.
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Historic Market Outlook for Eyewear Packaging Market
The global eyewear packaging market witnessed a CAGR of 3.9% during the historic period with a market value of US$ 235.7 Million in 2021.
People are increasingly wearing sunglasses to protect their eyes from the UV rays that driving the market for eyewear packaging. Additionally, the popularity of wearing contact lenses in various colors has led to an increase in eyewear packaging on the market. The demand for customized packaging among consumers is boosting the eyewear packaging industry. Globally customer preference is more toward convenient and protective packaging. The eyewear packaging market is expected to create lucrative revenue-generating opportunities from 2022 to 2032, attributed to increasing consumer preference for eyewear packaging in various end-use industries.
What are the growth driven factors for eyewear packaging market?
There are increasing Eye Disorders and Vision Impairments, it is contributing to the Increase in Demand for Eyewear. According to World Health Organization (WHO), globally 2 billion people have vision impairment-related problems such as distance or near vision impairment.
Leading causes of vision impairment and blindness are uncorrected refractive errors and cataracts. Moreover, to prevent such chronic disorders, the need for correct eyewear is important. This is pulling the demand for suitable eyewear packaging for protecting the eyewear to prevent eye diseases such as eyeglasses, contact lenses, sunglasses, and more. Nowadays people are spending more time on the computer for work. It requires eyewear protection from emitted UV rays. The ratio of children with genetic eye disorders is also high, which has increased the prevalence of eyewear globally.
There is rising Consumer Demand for Customized Packaging to Fuel Demand for Eyewear Packaging. Consumers are inclined towards customized packaging, which is driving the eyewear packaging market. Globally, consumers prefer eyewear for gifting and therefore tend towards selective packaging designs option. Consumers are demanding protective and convenient packaging. These factors are creating a lucrative demand for the eyewear packaging market.
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Category-wise Insights
Which Material is expected to Hold a Major Portion of the Global Eyewear Packaging Market?
Based on the material segment, plastic material is anticipated to hold around XX% of the market value share during the forecast period. It is expected to grow at a 4.6% CAGR from 2022 to 2032.
Based on the material segment, the plastic segment holds the major portion of the global eyewear packaging market. Plastics are the material that is mostly used for manufacturing in eyewear packaging industries as it is durable and economical. Plastic eyewear packaging also offers prevention from moisture, water, external force, etc. It also provides good protection and is tamper-evident. It is durable, lightweight, sustainable, and cost-effective.
Which Product offers a Lucrative Growth Opportunity in the Global Eyewear Packaging Market?
Based on product segment, boxes, and cases have driven significantly the eyewear packaging market. It is projected to account for 70% of the market value share by the end of the forecast period.
The boxes & cases segment offers lucrative growth in the global eyewear packaging market. People mostly prefer boxes & cases as it is comfortable for them to carry and it is fragile for safety purpose boxes are used. Most of the eyewear packaging industry’s design is made up of cardboard boxes, and it is also made of handmade eco-friendly packaging solutions. They also create various types of boxes in different designs which looks attractive to consumers. There are different sizes and shapes of eyewear which is available in the market in which eyewear industry has to make that design for the boxes and cases.
Country-wise insights
What are the Growth Opportunities in the USA Eyewear Packaging Market?
According to the Centers for Disease Control and Prevention (CDC), around 25% to 26% of children wore glasses or contact lenses between the ages of 2-17 years. These percentages have increased significantly over the period. The requirement for eyewear products has increased in the USA market. Overall demand for eyewear packaging is expected to grow rapidly. This will create positive growth opportunities for the eyewear packaging industry in the USA market.
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Competitive Landscape
The key players operating in the eyewear packaging market are trying to focus on increasing their sales and revenues by expanding their capabilities to meet the growing demand. The key players are trying to adopt a merger & acquisition strategy to expand their resources and are developing new products to meet customer needs. Also, the players are focusing on upgrading their facilities to cater to the demand. Some of the recent key developments by the leading players are as follows –
In February 2022, Kling GmbH introduced a new product which is the X-press boxes ocean line which is a new sustainable and environmentally friendly product.
Scope of the Report
Attribute
Details
Growth Rate
CAGR of 4.4% from 2022 to 2032
Base Year for Estimation
2021
Historical Data
2015 to 2021
Forecast Period
2022 to 2032
Quantitative Units
Revenue in USD Million, Volume in Units, and CAGR from 2022 to 2032
Report Coverage
Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis
By Material, Eyewear Packaging Market is Segmented as:
Plastic Eyewear Packaging
Paper & Paperboard Eyewear Packaging
Fabric Eyewear Packaging
By Product Type, Eyewear Packaging Market is Segmented as:
Boxes & Cases
Bags & Pouches
By Distribution Channel, Eyewear Packaging Market is Segmented as:
Online
Offline
By Region, Eyewear Packaging Market is Segmented as:
North America
Latin America
Europe
South Asia
East Asia
Middle East & Africa
Oceania
Frequently Asked Questions
What was the value of the eyewear packaging market in 2021?
In 2021, the value of the global eyewear packaging market was US$ 235.7 Million.
During 2015 to 2021, what was the growth rate of the global packaging tape market?
From 2015 to 2021, the global eyewear packaging market expanded at a CAGR of 3.9%.
By 2032, what will the value of the global eyewear packaging market?
The global eyewear packaging market is expected to reach US$ 356.2 Million by the end of 2032.
Which material type is expected to lead the global eyewear packaging market during the forecast period?
During the forecast period, plastic material is likely to be the fastest-growing material segment in the global eyewear packaging market.
What drives the demand for eyewear packaging?
Rising consumer demand for customized packaging to fuel demand for eyewear packaging drives the eyewear packaging market over the forecast period.
Which are the top players supplementing the sales of eyewear packaging market?
Aesop Technologies, Well Packaging limited, Processo Plast Enterprise private limited, Kling GmbH, and Wuxi Tianen spectacles case company limited are the top players supplementing the sales of the eyewear packaging market.
At what rate is the global eyewear packaging market is projected to expand during the forecast period?
During the forecast period, the global eyewear packaging market is anticipated to expand at a CAGR of 4.4%.
