Global Eyewear Market to Grow 6% Annually, Says Report

The global market for optics and eyewear is expected to expand at the rate of 6% in the coming five years and will go on to account for a total of $20 billion in revenues, according to the report entitled Global Luxury Eyewear Marketing: Forecast, Trends and Opportunities 2013-2017. Additionally, the report forecasts that the sunglass market will benefit not only from increased awareness of the dangers of UV exposure but also from frames and sunglasses being increasingly perceived as fashion products. However the product's transformation into a new fashion image has exposed it to economic cycles, making it vulnerable to the current economic recession. High-end lenses, frames and sunglasses have all witnessed deceleration in growth as a result of reduction in personal incomes, erosion in discretionary spends. Read more.