What is driving the production and growth of edible insects market?

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Global human population is anticipated to increase by more than 2 billion by end of 2050 giving rise to food problem. Increase in food production will lead to more pressure on environment. So consumption of edible insects is one of the food alternatives through which one can get high quality protein, amino acids and vitamins at affordable costs.Edible insects possess high food conversion rate and emit less greenhouse gases than traditional livestock. Furthermore, insect farming is cost effective as compared to cattle farming. Also, these insects are considered as a protein source for direct human consumption. They can be nourished and nurtured in a natural environment.As per Global Market Insights reports, edible insects market size was evaluated at $33.1 million for 2015 and is anticipated to record higher than 40.1% CAGR by end of forecast timeline. Growing acceptance of bug consumption all across the globe is predicted to drive global edible insects industry trends.

Overview
Today, there is rise in consumption of insects and bugs due to increasing health concerns among the global population. Bugs find their application in livestock like fish and poultry farms. It is projected that one hectare of land can produce minimum 151 tons of insect proteins every year. Awareness among the customers about fitness coupled with its growing use in food sector are the factors expected to drive the edible insects market expansion.

Edible insects are rich in minerals and contain large amounts of potassium, iron, magnesium, sodium and zinc. Intake of diet rich in mineral content has a positive impact on fighting dreaded ailments. Eatable insects are main source of oils and fats and contain large proportions of polyunsaturated fatty acids. All these aspects are anticipated to expand edible insects market share during forecast timeline.

U.S. Edible Insects Market size, by application, 2012-2023 (USD Million)

U.S. Edible Insects Market size, by application, 2012-2023 (USD Million)

Raw substance price is less that has resulted in enhancement in production and this directly affects edible insects market price trends. Cockroach oil is used as industrial lubricant or paint and this can provide new growth avenues for industry players to increase their product applications. However, edible insects can cause harm to health if they are harvested improperly. Limited regulations for edible insects can hinder industry expansion in future.

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Product Overview

Global industry is segmented into different products that include bees, scale insects & true bugs, beetles, wasps, caterpillars, ants and grasshoppers.

Beetles segment contributed higher than $9 million for 2015 in terms of revenue. Substituting conventional source of protein like beef or chicken can promote the demand for beetle in coming years.

Grasshoppers are considered as natural food and a rich protein source. The segment can expand substantially and is projected to record greater than 42.6% CAGR. These products are beneficial replacement for poultry and meat intake.

Application Overview

Industry is segmented into applications like snacks, flour and protein bars.

Snacks led the application segment and made a contribution of higher than $11.1 million for 2015. They are rich in amino acids, proteins, zinc, vitamins, calcium and potassium and these features can promote the segment expansion. Cricket based items are consumed as snacks as they are good for health and as they minimize carbohydrates and saturated fats.

Protein bars is projected to record 42.1% CAGR during forecast timeline and cross $166 million mark. They are mainly utilized in preparing smoothies, biscuits, muffins, soups, breads and desserts. Flour applications include mealworm and cricket in powdered form. Other main applications of edible insects are chocolates, protein shake and pasta.

Regional Overview

Global edible insects market is segmented into Asia Pacific, North America, Middle East & Africa, Latin America and Europe.

Asia Pacific industry, dominated by Thailand and China, was biggest region with higher than $10.1 million of revenue production for 2015.

Europe edible insects industry is projected to experience heavy expansion during forecast timeline and is dominated by countries like France, UK and Holland.

Latin America, dominated by Brazil, can expand substantially and Brazil edible insects market is anticipated to record 42.1% CAGR and surpass $55.1 million in terms of revenue during forecast timeframe.

Competitive Overview

Key industry participants profiled in the report include Thailand Unique, AgriProtein Technologies, Gathr Foods, Crik Nutrition, Crickers, ECOBARS, Bugeater Foods, Entomo Farms, Proti-Farm and HaoCheng Mealworm Incorporation.

Author NameDhananjay Punekar

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Commercial drone/UAV market to record an astounding CAGR of 25% over 2017-2024, agriculture sector to drive the application landscape

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Over the recent years, the commercial drone/UAV market has garnered immense popularity owing to the substantial increase in civil applications of unmanned aerial vehicles. It is quite a well-known fact that the commercial utilization of unmanned aerial vehicles has been steadily rising since the early 1980s. However, a significant increase in investments and the relaxation of some regulatory norms across the globe have opened up an array of practical applications of drones across numerous business domains. This has, in consequence, acted as a pivotal factor in propelling the commercial drone/UAV market share in the recent times. In fact, as per a research report by Global Market Insights, Inc., the global commercial drone/UAV industry commanded a total valuation of over USD 2 billion in the year 2016.

U.S. Commercial Drone Market Volume Share, By Application, 2016
U.S. Commercial Drone Market Volume Share, By Application, 2016 

Extensive usage of UAVs in the agricultural sector to drive the commercial drone/UAV industry progression

Boasting of a vast expanse of application spectrum, commercial drone/UAV market has gained extensive popularity over the past few years. As far as the wide-scale deployment of UAVs is concerned, the agriculture sector has emerged as one of the most lucrative end use segment of commercial drone/UAV industry in the recent times. It would be prudent to mention that drones are increasingly being utilized across agricultural fields in analyzing soil, assessing the health of crop, appropriate spraying of pesticides, planting of seeds, and irrigating the field throughout the crop cycle.

In fact, the technological advancements in drones have made it easier to formulate a comprehensive 3D map for soil analysis which can aid farmers to seamlessly analyze seed planting patterns. Apparently, the aforementioned benefits of deploying drones in the agricultural sector have impelled the growth potential of commercial drone/UAV industry.

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Elaborating further, it has been observed that numerous leading commercial drone/UAV market participants have been forming robust alliances with government institutions to tap into the steadily evolving agricultural drones space. Citing an instance to highlight this trend, Parrot Drones has recently announced a share-cost initiative with the Technical Centre for Agriculture and Rural Cooperation (CTA) to use drones in the agriculture sector of the sub-Saharan African region. Reportedly, the announcement of the latest collaboration comes in the backdrop of Parrot’s recent launch of its thermal imaging drone, the Parrot Bluegrass, that is particularly designed for precision agriculture. The innovative drone is equipped with both a multispectral sensor and a video camera along with a unique processing cloud platform.

For the record, CTA is a joint institution of European Union and the African, Caribbean, and Pacific Group of States which aims to enhance agricultural productivity in its member countries by precise resource management and ensuring food security. Needless to mention, the latest partnership comes on the heels of the overall commercial drone/UAV market in the African continent.

Citing yet another instance of the technological advancement in the commercial drone/UAV industry, it has been reported that scientists in the UK have successfully grown the world’s first crop of barley by deploying drones. Apparently, the project was named as Hands Free Hectare, given that researchers automated agricultural machines by using drone technology and no agronomists set foot in the land utilized to grow the crop. Moreover, an autopilot drone was used to get the tractors working for seeding, harvesting, and monitoring purposes. Considering the aforementioned instances which highlight the inventive usage of drones, the prospective growth of commercial drone/UAV market undoubtedly looks promising.

With a marked increase in the number of collaborations between technology leaders, governments, and industry players, the utilization of drones is bound to witness a transformative change in the forthcoming years. Furthermore, the deployment of drones across various end use domains including Wildlife Research & Preservation, Aerial Photography, Inspection & Monitoring, Emergency Management, and Remote Sensing & Mapping has observed a substantial increase. All these factors are certain to positively influence the growth potential of commercial drone/UAV market, which is forecast to surpass a remuneration portfolio of more than USD 17 billion by 2024.

Author Name : Saif Ali Bepari

Fuel cell market to garner heavy returns from the stationary and transport applications, rising investments by government bodies to spur the industry growth over 2017-2024

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The massively increasing demand for renewable energy has served as a major boost to fuel cell market, the growth graph of which is projected to display a marked ascent over 2017-2024. It is prudent to note that a fuel cell is rather different from a battery – it is basically an electrochemical mechanism that can produce electricity through the combination of hydrogen and oxygen and is a renewable source of energy that keeps generating electricity as long as the combination of source fuels is available. As the fuel is not burnt in power generation, it is an unobtrusive process and truly pollution free with zero carbon dioxide emission, which is one of the principal concerns of most industry verticals worldwide. As governments in various nations are undertaking positive steps to decrease carbon dioxide emissions, fuel cell industry share is projected to climb exponentially high in the next few years.

Europe Fuel Cell Market Size, By Product, 2016 & 2024 (USD Million)
Europe Fuel Cell Market Size, By Product, 2016 & 2024 (USD Million)

Fuel cell industry growth is driven by three main application segments, namely stationary power, transportation and portable power. It is imperative to state that stationary applications among these would emerge as one of the most profitable segments of fuel cell market, driven by the demand for heating in commercial, residential and industrial spaces. Furthermore, the requirement of backup power sources in schools, hotels, hospitals, telecommunication base stations, and data centers will also propel the stationary fuel cell market. Portable fuel cell market size on the other hand, will be augmented by the product’s widespread usage as a power source for laptops, torches, radios, MP3 players, cameras etc. Subject to the product’s rapid rechargeability, reliability, longer run time and low operating cost, portable fuel cell industry is projected to generate significant revenue in the forecast period.

It is noteworthy to mention that analysts forecast transport applications to be inherently responsible for propelling fuel cell market to the farthest extent. Japan and Korea for instance, had introduced light duty fuel cell operated vehicles, post which the concept gained huge prominence. Most of the heavy automotive hitters such as Honda, Hyundai, Ford, Toyota, etc., have now manufactured their own fuel cell electric vehicles. The rapid increase in the production of fuel cell driven buses, forklifts, airplanes, motorbikes and boats vividly indicate that fuel cell industry stands to substantially profit from the expanding electric vehicle market.

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The U.S. and Europe are undeniably the expansion hubs for fuel cell market in the years ahead, primarily on account of the rising number of government initiatives and increased commercialization of the fuel cell technology. While the Department of Energy of the USA has announced the investment of $130 million towards developing hydrogen fueling infrastructure in the country in 2015, the UK government invested $30.6 million towards developing hydrogen fuel vehicle infrastructure in 2017. China has emerged as a major revenue contributor of APAC fuel cell market with a target CAGR estimation of 20% over 2017-2024, driven by the country’s widespread manufacturing of fuel cell driven buses, trucks and light vehicles and the favorable policy support provided by the Chinese government.

As regional and international governments and regulatory bodies across the globe are intent toward decreasing carbon emissions, the popularity of fuel cells is expected to soar as an alternate power source, driven by its renewable and cost-effective nature. With the robust growth witnessed across global renewable energy sector, it is projected that fuel cell industry size would surpass 900 megawatts by 2024 in terms of volume, with an estimated target valuation of USD 6 billion at the end of seven years in terms of revenue.

Author Name :Paroma Bhattacharya

Automotive sunroof market growth is driven by growing use of smart glass and enhanced vehicle production

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Overview

Global Automotive Sunroof Market size contribution was about $4.67 billion for 2014 and is projected to record CAGR of about 9.9% during forecast timeline. Rising use of smart glass in automotive along with high convenience for end users is projected to propel demand. Further, growing automobile production is also projected to enhance industry expansion in future.

Rising customer choice for the products is projected to propel industry growth during forecast timeline. Key automotive sunroof manufacturers offer inbuilt system to their mid-section vehicles. However, issues like poor calibrations, leakage, electrical failures, improper installation and growing concerns about altering structural integrity of roof of automobiles can hinder the product demand.

China glass automotive sunroof market size, by product, 2012-2022 (USD Million)

China glass automotive sunroof market size, by product, 2012-2022 (USD Million)

 

Increasing automotive sunroof industry trends as a post-sale customization has witnessed an increase in product reputation, primarily in APAC. Rising disposable incomes of consumers has resulted in enhanced purchasing capacity and rise in purchase of luxury vehicles is projected to favorably affect the product demand. Automotive sunroof market share is projected to be bolstered by technological growth in area of solar roofs for electric automobiles.

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Product Trends

Global automotive sunroof industry is segmented into fabric product and glass product. Fabric product segmented is sub-segmented into removable and foldable. Glass product segment is sub-segmented into panoramic, pop-up, top mount, inbuilt and spoiler or tilt & slide.

Glass sunroof product segment was the dominating segment for 2014 and is projected to lead the industry during forecast timeline.

Inbuilt glass product sub-segment contributed more than 40% of total industry share for 2014 and is projected to record CAGR of 7.6% during forecast timeline. Enhanced factory deployed products along with increasing industry demand are forecast to propel the sub-segment growth.

Panoramic sunroof product segment is projected to experience significant expansion and record CAGR of more than 15.1% during forecast timeline due to consumer choice for automobiles equipped with big sunroofs.

Fabric sunroof segment in Europe and North America features high demand for foldable prototypes. This is predicted to propel its growth in future.

Regional Trends

Global automotive sunroof market is segmented into key geographical locations like North America, MEA, LATAM, Europe and Asia Pacific.

Europe sunroof market was evaluated at $1.7 billion for 2014 and is projected to dominate the global industry during forecast timeline due to substantial penetration of luxury cars in the region. UK and Germany are key contributors to regional industry expansion.

Asia Pacific glass sunroof industry is projected to record CAGR of more than 11.1% in future. This can be mainly credited to changing customer choices and rising product demand in country in China.

Competitive Trends

Key industry participants profiled in the report include NSG Pilkington, Inteva, Automotive Sunroof Company, Webasto, Yachiyo Industry Company Limited, Johnan America Incorporation, Valmet Automotive, Mitsuba Corporation and Inalfa.

Author NameDhananjay Punekar

Corrosion inhibitors market trends are driven by demand for pure and clean water in various industries

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Industry Trends

Global Corrosion Inhibitors Market size was projected to expand at more than 5100 kilo tons for 2015 in terms of size and is expected to register higher than 4% CAGR by end of forecast timeline. The industry revenue is projected to surpass $ 8.9 billion by end of forecast timeline.

Global water treatment chemicals industry is projected to register revenue of more than $32 billion by end of forecast timeline. Growing demand for pure and clean water in different industrial segments like medical segment, chemical segment and electronics segment is projected to promote corrosion inhibitors industry trends.

MEA corrosion inhibitors market size, by end-use, (USD Million) 2012-2023

MEA corrosion inhibitors market size, by end-use, (USD Million) 2012-2023

Expansion of green corrosion inhibitors industry can witness a breakthrough in product techniques and demand. Increased use of corrosion inhibitors has led to correct steps being taken for its disposal. Inappropriate disposal adversely impacts the climate which can lead to instability in global corrosion inhibitors market price trends.

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Application Trends

Global corrosion inhibitors industry is segmented into various applications like oil based application or solvent based application and water based application.

Water based application segment is projected to surpass $6.8 billion revenue by end of forecast timeline. These applications are projected to experience growth and are promoted by rising water treatment requirements and demographic indicators. Rise in energy production, construction sector, refining and mining sector is projected to lead to enhanced demand for the segment.

Solvent based application segment is projected to record CAGR of 4.3% by end of forecast timeline. These kind of applications make a protective barrier coating on surface of metal to avoid contact of water and thus prevents corrosion. Consistent performance of oil or solvent based application segment is a main aspect of segment growth.

Product Trends

Global corrosion inhibitors market is segmented into organic and inorganic products. Organic products segment is projected to register a CAGR of 5.2% in terms of size during forecast timeline.

Inorganic products segment was evaluated at more than $1.8 billion for 2015. Superlative features and rising legislations about use of inorganic products are crucial for industry expansion during forecast timeline.

End Use Trends

Global corrosion inhibitors industry is segmented into end use applications like power production, oil & gas, metal processing, pulp & paper and chemical processing.

Power production segment contributed more than $1.9 billion of overall revenue for 2015. It aids in effective operations of electronics, gas turbines, switch gears and pumps. Due to all these factors the segment is predicted to experience a tremendous growth in future.

Oil & gas segment is projected to record CAGR of 5.9% by end of forecast timeline. Growing exploration of oil & gas all across the globe is projected to promote the industry growth.

Pulp & paper segment along with chemical and metal processing segments contributed to significant portion of overall demand for 2015.

Regional Trends

Global corrosion inhibitors market is segmented into key geographical locations like North America, LATAM, Europe, Asia Pacific and Middle East & Africa.

U.S. corrosion inhibitors market share is predicted to grow more than 4.1% during forecast timeline. Metal applications, cement & concrete applications and industrial coatings uses are predicted to be key drivers of the industry growth in the region in future.

European industry demand for corrosion inhibitors is projected to touch 1901 kilo tons by end of forecast timeframe. Development of construction sector, mining sector, production sector and oil & gas industry in Europe is projected to propel regional industry expansion. Further, rising concerns about water pollution as well as waste water treatment can promote inorganic items demand.

Asia Pacific, led by India and China corrosion inhibitors market share, is projected to witness more than $3 billion revenue growth by end of forecast period. Rapid industrialization in countries like India and China along with heavy requirement for minimizing maintenance prices to acquire competitive benefit is predicted to promote regional industry growth. Furthermore, heavy automobile production index in APAC promoted by product growth along with research & development activities are projected to propel industry growth in the region.

Middle East & Africa and LATAM corrosion inhibitors market expansion is predicted to witness substantial growth during forecast timeline.

Competitive Trends

Key industry players profiled in the report include The Lubrizol Corporation, Daubert Cromwell LLC, Ashland Incorporation, DuPont, Cortec Corporation, DOW, Eastman, AkzoNobel N.V., Champion Technologies, Ecolab Incorporation, Marott Graphic Services, GE Water & Process Technologies, BASF SE and General Electricals.

Author NameDhananjay Punekar

Outlining HIV diagnostics market trends in 2018: low-and middle-income countries slated to remain the top hotspots for industry veterans

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  • Technological developments will chiefly influence the product demand and consumption trends.
  • Global HIV diagnostics market share is estimated to surpass USD 5 billion by 2024.
  • Low-and middle-income countries will be the top growth avenues for the industry participants.

2018 was undoubtedly one of the most remarkable years pertaining to the developments in HIV diagnostics industry. The year witnessed a slew of technological advancements and collaborations aiming toward ending the AIDS epidemic, which is rightly touted as one of the most serious health concerns worldwide. HIV related causes, as per the World Health Organization, claimed approximately 940 000 lives in 2017 globally. At the end of 2017, 36.9 million people worldwide were diagnosed living with HIV, a disease that has claimed almost 35 million lives so far. In recognition of this alarming morbidity and mortality rate, the global health community in tandem with the regulatory bodies are striving hard to provide effective treatments and diagnostic approaches accessible to the HIV-infected individuals world over.

U.S. HIV Diagnostics Market, By Product, 2017 & 2024 (USD Million)

U.S. HIV Diagnostics Market, By Product, 2017 & 2024 (USD Million)

 

Low-and middle-income Economies are the most potential yet underpenetrated avenue for the HIV diagnostics industry players

As per UNAIDS, low-and middle-income countries have the highest ratio of people living with HIV. In 2017, 53% of the overall HIV-infected patient base were living in eastern and southern Africa, 16% in western and central Africa, 14% in Asia, and 6% in western and central Europe and North America. The statistics are a validation to the penetration scope of HIV diagnostics market participants in the low-and middle-income countries. These countries undoubtedly can be one of the most prominent recipients of the POC self-tests diagnostic approach, given a large pool of population in these countries burdened with either the unawareness of the epidemic or lack of treatment accessibility.

2018 Highlights of the HIV diagnostics industry penetration in low-and middle-income economies

Mylan’s collaboration agreement with Atomo Diagnostics

In 2018, Mylan N.V., the renowned generic and specialty pharmaceuticals company, made it to the headlines post its announcement of collaborative agreement with Atomo Diagnostics. The deal was announced as a strategy to make point of care rapid self-tests accessible in the low-and middle income economies wherein people can be more aware about their HIV status and seek treatment based on the results. As a part of the deal, Mylan received rights for the commercialization of CE-Marked in-vitro diagnostic tests in more than 100 countries across Asia, the Middle East, Africa, the CIS and Latin America.

Kenya Medical Research Institute’s (KEMRI) collaboration with Roche for establishment of an advanced HIV diagnostic laboratory

In a bid to achieve the elimination of AIDS and HIV from the country by 2030, KEMRI announced ITS collaboration with Swiss pharmaceutical giant, Roche to launch an advanced HIV testing laboratory. Dubbed as Cobas 8800, the new laboratory is claimed to test approximately 1 million people yearly. The launch is touted as one of its kind in terms of its rapidity, functionality, and accuracy. The deal also marked Kenya in the ranks of Uganda and South Africa which are the only African countries with Roche’s hi-tech HIV diagnostic laboratory.

Innovative and technologically advanced product launches chiefly characterized the HIV diagnostics industry landscape in 2018

As per WHO, new HIV infections observed a decline of 36% between 2000-2017. During the same period, HIV related deaths fell by 38%, owing to ART (antiretroviral therapy). The numbers are undoubtedly a result of the conjoint efforts of the regulatory bodies as well as healthcare companies which are constantly developing accessible, convenient, and affordable POC tools to reach out to the HIV infected masses.

Innovative product and technology developments in the HIV diagnostics vertical that grabbed the spotlight in 2018

Abbott’s POC test for HIV Management, especially targeted toward remote communities

In a bid to provide easy and accurate management of HIV, Abbott announced the launch of its new point-of-care test, dubbed m-PIMA HIV-1/2 VL. The new technique is said to be the first for POC based viral load measurement, delivering results within 70 minutes. The technique also supports decentralized programme management and can be used on the portable m-PIMA platform. The launch was another appreciable addition to Abbott’s rich HIV diagnostics solutions portfolio which spans across more than 120 countries worldwide, comprising all 55 African countries. The tool is claimed to play a significant role in achieving UNAIDS’ 90-90-90 goals.

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Smartphone’s multifunctionality as a HIV detection tool

Toward the end of 2018, a new research from the Brigham and Women’s Hospital launched a tool to diagnose HIV with the help of smartphones, setting a new benchmark in the technology landscape of HIV diagnostics market. The tool which uses a cellphone and nanotechnology to identify the virus is highly portable, affordable, and accessible especially for resource-limited economies. As per reliable reports, the accuracy of the platform was within specificity of 99.1% and 94/6% sensitivity at the clinically relevant threshold of 1,000 virus particles per mL. Reportedly, the total cost of the entire setup was less than $5 per test, making it a highly economic tool in the low-income countries.

Besides these developments, another pivotal factor that is estimated to drive the HIV diagnostics adoption and demand trends is the regulatory scenario. In fact, a favorable regulatory scenario along with the high-end healthcare infrastructure has made the U.S. one of the pivotal regions witnessing a rather profound expansion of HIV diagnostics market. As per a report by Global Market Insights, the U.S. HIV diagnostics market led the entire North America landscape, with a recorded share of USD 876.8 million in 2017. In the coming years, though the region will be one of the major growth pockets for HIV diagnostics market players, it is undeniable that the penetration rate would soar high in the emerging countries. On a global scale, Global Market Insights forecasts the HIV diagnostics market share to surpass USD 5 billion by 2024.

 

Author Name : Shikha Sinha

Eyewear market growth is driven by rising old population and growing visual deficiencies

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Industry Trends

Global Eyewear Market  size contribution is predicted to register CAGR of 7% during forecast timeline and surpass a revenue of $166 billion by end of 2022. Increasing population along with growing visual deficiencies like myopia, presbyopia, hyperopia and astigmatism are projected to promote eyewear industry trends during forecast timeline.

North America eyewear market size by product, 2012-2022 (USD Million)
North America eyewear market size by product, 2012-2022 (USD Million)

 

Growing use of corrective eyewear among people to correct refractive faults is projected to fuel industry demand for the products. Furthermore, increasing consciousness among people about significance of eye checkups is projected to enhance industry expansion. Rising purchasing power is predicted to favorably affect industry demand in future. Strong piano sunglasses industry demand is projected to propel contact lens acceptance and minimize dependence on spectacles. Further, recurring renewal of lenses due to constantly changing prescriptions is predicted to favorably affect the demand for eyewear during forecast timeline.

Growing geriatric population is also a significant aspect for global eyewear industry growth. Further, reasonable costs, modality and user convenience offered by eyewear items are anticipated to develop large scale industry expansion opportunities by end of forecast timeline.

However, increasing acceptance of permanent vision correction methods like photorefractive keratectomy and laser assisted in situ keratomileusis (LASIK) are forecast to negatively affect industry demand for the products.

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Product Trends

Global eyewear industry is segmented into various products like Contact lenses, Plano sunglasses and Spectacles.Contact lenses segment is sub-segmented into soft lenses, rigid gas permeable lenses and hybrid lenses. This segment contributed more than 31% of total shipments for 2014 due to growing demand for regular disposable lenses and cosmetic lenses.

Spectacles segment is sub-segmented into spectacle frames and spectacle lens. It contributed greater than three-fourths of total revenue for 2014.

Plano sunglasses segment is further sub-segmented on basis of material and product. Depending upon the material, it can be segregated into polyurethane, CR-39 and polycarbonate. Based on the product, it can be sub-segmented into polarized as well as non-polarized sunglasses. The growth in the segment can be credited growing customer choice and increasing adoption of corrective surgical operation.


Regional Trends

Global eyewear market is segmented into Latin America, APAC, North America, MEA and Europe. North America eyewear market share was more than 31% of the global industry share in terms of revenue and size. Increase in growth of North American industry can be credited to growing demand for Plano sunglasses coupled with rising awareness about eye examination around the region.

APAC eyewear industry size was more than 20.1% for 2014 in terms of revenue. Fast growing wearer base is projected to promote use of the products during forecast timeline. Europe eyewear market contributed more than 35.1% of the overall revenue for 2014, mainly owing to high selling costs as well as presence of key industry players in the region. Latin America, dominated by Brazil eyewear industry share is projected to experience consistent gains in future.

Competitive Trends

Key industry participants profiled in the report include De Rigo SpA, Carl Zeiss AG, Silhouette International, Chemilens, Fielmann AG, Bausch & Lomb Incorporation, Cooper Vision, Marchon Eyewear, Hoya Corporation, Safilo Group S.p.A., Charmant Group, Alcon, Johnson & Johnson Vision Care, Marcolin Eyewear, Daemyung Optical CO, QSpex Technologies Incorporation, Vision-Ease Lens Incorporation, Luxottica Group S.p.A., Rodenstock GmbH, Essilor International S.A and Seiko Optical Products Company Limited.

Author NameDhananjay Punekar