In recent decades, the global eyewear market has undergone a significant growth, evolving from a primarily vision-correction industry into a dynamic sector that embraces fashion, technology, and health. According to Mordor Intelligence, the eyewear market is projected to grow from $178.98 billion in 2024 to $229.35 billion by 2029, with a 5.08% CAGR over this period. This growth is driven by technological advancements, increasing awareness of eye health, and a heightened focus on eyewear design. Glasses are no longer just a functional necessity—they have become an essential tool for self-expression and personal style.

Eyewear and luxury fashion: a thriving market

Once seen as purely medical devices, eyewear has now become a must-have fashion accessory, influenced by trends and the growing involvement of luxury brands. A Grand View Research report highlights that the high-end eyewear segment surpassed $50 billion in 2023, with an annual growth rate exceeding 6%. Luxury brands like Gucci, Prada, Dior, and Cartier have strengthened their presence, turning eyewear into status symbols. Collaborations between fashion houses and eyewear companies have become increasingly common. Notable examples include Balenciaga’s limited-edition collection with Kering Eyewear and the Off-White x Ray-Ban partnership, which produced iconic designs beloved by younger audiences.


Italy’s leading role in the global eyewear industry

Italy remains a dominant force in the eyewear industry, particularly in high-end production. In 2021, Italian exports of frames, sunglasses, and lenses exceeded €4 billion, marking a 3.4% increase compared to 2019 (VisionBiz.it). Luxottica, part of EssilorLuxottica, is a key player in the global market, with a portfolio that includes proprietary brands like Persol and Oakley, as well as licensing agreements with Armani, Versace, and Bulgari. Meanwhile, independent firms like Safilo and Marcolin continue to expand internationally, focusing on innovation and sustainability.

Future outlook: sustainability and digitalization

Looking ahead, the industry’s growth remains strong. Mordor Intelligence forecasts that by 2030, the eyewear market will reach $240.95 billion, supported by a 5.08% CAGR from 2025 to 2030. Two key trends will drive this expansion: sustainability and digital transformation. The shift toward eco-friendly production is gaining momentum. Brands like Stella McCartney and Neubau Eyewear have introduced collections made from recycled or biodegradable materials, while EssilorLuxottica has announced plans to reduce its carbon footprint. At the same time, digital technologies are reshaping the consumer experience. The rise of augmented reality (AR) and artificial intelligence (AI) is revolutionizing how people shop for eyewear. Companies like Warby Parker and Lenskart offer virtual try-on tools, allowing customers to preview frames before purchasing. Meanwhile, smart eyewear is entering a new era. Innovations like Ray-Ban Stories, developed in partnership with Meta, enable users to take photos and videos directly from their glasses, merging fashion with cutting-edge tech.