Towards the end of last year, some international business analysts picked Santa to bring exceptional growth for the global eyewear market heading into this year. As we begin to look forward to 2026, Insight asks several Australian industry participants if they still share that optimism and what they see coming.
According to a number of market predictions, the future of the global eyewear industry is so bright that practically everyone will need to wear shades.
A market report compiled by India-based The Business Research Company tipped rapid growth for the industry over the next few years and global revenue to pass AU$350 billion by 2028.
It studied historical data and examined future trends to predict a compound annual growth rate of 10.7%, which had already taken global revenue to AU$236b in 2024, from AU$213b the year before.
And that’s despite much-publicised economic headwinds, rising costs and inflation, and a cost-of-living crisis for many people around the world.
The analyst predicted growth to continue into 2025 and beyond on the back of changing fashion and style trends, increasing vision problems, an ageing population, rising awareness of the need for UV protection, and the growing endorsements of celebrities and influencers.
There was similar market optimism in another, earlier report by London-based industry analyst Euromonitor International.
It noted that the global eyewear industry had faced numerous challenges in 2024, including geopolitical tensions and economic uncertainty, but still expected growth into 2025 and beyond.
The company identified three key opportunities that could help the industry realise that growth: advancements in technology, innovations in functional eyewear like myopia control, and bridging the gap between budget and luxury segments.
But it also predicted that physical optical stores would remain crucial for eyewear sales due to the demand for try-on experiences.
“The pandemic has accelerated the adoption of digital distribution, prompting retailers to enhance their omnichannel strategies,” it said.
“Online platforms are expanding their offerings and social content, while physical stores are leveraging digital technologies like scanning and 3D printing to offer more personalised services.”
Just in the past couple of months there have been interesting developments in the eyewear industry, particularly in the design, manufacturing and marketing of smart glasses.
Among many companies now positioning themselves to take advantage of what is a growing section of the optical industry, EssilorLuxottica and Mr Mark Zuckerberg’s Meta have deepened their connection, expanding their wearables portfolio and unveiling three new AI glasses at Meta Connect that “push the boundaries” of eyewear design, functionality, and integration.
That followed Meta’s AU$5 billion investment for a reportedly 3% stake in EssilorLuxottica.
With that in mind and the 2026 fast approaching, Insight spoke to some leading figures in Australia’s eyewear industry.
It had a number of important questions about how the year had gone for them, what important trends they had noted in 2024 and into 2025, what national and global trends and opportunities they saw coming into the new year, and whether Australia was ready to make the most of those.
Ms April Petrusma: CEO, Optical Dispensers Australia
The head of Australia’s optical dispensing community is not one for rose-tinted glasses.
She acknowledges that several factors will lead industry growth around the world, including “the rising prevalence and overall awareness of conditions like myopia, industry-based technological advancements, an ageing population, and a growing awareness of eye health in general”.
But she is not convinced that that growth will be as stellar as predicted above.
“The reported projections for the global eyewear market seem rather optimistic but not out of reach,” she says.
She highlights several notable trends in 2025 and into 2026.
“One of the more significant trends is the increasing emphasis on precision and accuracy in eye examinations and lens dispensing.”
Digital measuring devices and 3D imaging technology were now commonplace in manufacturing, allowing practices to obtain highly accurate eye, frame and facial measurements.
Petrusma says the shift towards greener solutions is another trend gaining momentum, driven in large part by consumer awareness of environmental issues.
“Sustainability and eco-consciousness are increasingly more important, and the optical industry is embracing innovative ways to reduce its environmental footprint.
“Frame and lens manufacturers are introducing ‘green eyewear’ options that are not only stylish but also recyclable, sustainable and environmentally friendly.
“The intersection of vision care and sustainability is revolutionising the Australian eyewear market.”
She says this momentum for greater sustainability will only increase in 2025/26.
Businesses that match that momentum will “not only meet the growing consumer demand for eco-friendly products but also enhance their brand reputation and foster customer loyalty”.
“In the coming years, we can expect a continued commitment to environmentally friendly practices, with manufacturers increasingly investing in greener production methods, including innovative techniques that minimise energy consumption and reduce waste generation throughout the manufacturing process.”
She believes Australia and its eyewear industry are well-placed to ride that wave, by focusing on “education, transparency, and innovation”. And she encourages people in the industry to do their research and stay up-to-date on the latest advancements in sustainable materials and production techniques.
Ms Bonnie Eason: Practice manager at Evolve Optometry in Ulladulla and Batemans Bay, NSW
Like Petrusma, Eason is also a little sceptical of the rapid global growth predicted by some business analysts; she believes that level of revenue surge is more likely to take another 2-3 years.
“With inflation over the past 12 months and the unknown of what the economy is yet to do, there are some customers who have been more reluctant to invest due to affordability.”
But Eason is particularly optimistic about growth in Australia’s independent sector in 2025/26 and beyond, despite the growing presence of corporate stores.
“For us, the flexibility of being able to choose each individual frame we have in store is a massive advantage as we have control over what style and quality we are getting,” she says.
“With some of the leading eyewear brands in the world at our disposal, we have shifted to having a larger variety of luxury frames in store as repeat customers begin to understand the difference and want for high-quality eyewear.”
Among those with a greater and growing appreciation of quality are younger customers.
“Younger generations are wanting ‘brand names’ and also leaning towards more eco-friendly frames and solutions,” says Eason.
Those customers were also likely to drive other innovations in the industry, including smart glasses and the use of AI to help those shopping online try on their glasses without having to visit the store.
“Advancements in technology such as smart glasses still have a fair way to go, especially when competing with all the other technological gadgets that are on the market.
“But smart glasses have definitely started to become more popular, particularly with the marketing campaign Ray-Ban has done with their Meta glasses.
“I think it is only a matter of time until we see different brands unveiling competitive counterparts as well as further development.
AI and its impact on shopping had arrived and would continue to have an impact in 2026 and beyond.
“The ‘virtual try-on’ with AI is a merging trend for this year, especially with the popularity of online shopping and the rise of AI,” she says.
“I’m not the biggest fan as this doesn’t provide the same value as trying on in store with a qualified dispenser to assess fit properly, but I can see the appeal to consumers.
“I think sunglass and fashion-brand retailers who are offering this are by far the leaders and are able to do this well because, for the most part, they don’t offer the services that optometrists and dispensers do.”
Eason says it is just a matter of time before her stores start to integrate these features into their website and give customers greater access to their frames.
That would not be an easy task, given the rotation of stock and the technological support needed.
But like the growing awareness of myopia control and eco-friendly options, this shopping innovation was coming, and Australia needed to be ready.
“As an industry we need to keep adapting to technological changes and advancements as much as we can, to stay relevant and not get left behind.
“We are so early into what AI can do and I think that the unknown can be quite scary, but adapting and taking on new information can also lead to some really exciting innovations.”
Mr Paul Clarke OAM, former practice co-owner and current lecturer
There’s little Paul Clarke hasn’t done during his many decades in the optical industry.
The optical dispenser/mechanic co-owned Vision West Optometrist at Karrinyup in Perth for 33 years.
And when that came to an end in March last year, after he sold his share of the business, rather than retire he has continued to contribute to the industry.
He is now working part-time as an associate lecturer in optical dispensing in the School of Optometry at the University of Western Australia and is also chair of the advisory board of Optical Dispensers Australia.
So when the man who is also a past president of the international Opticians Association offers an opinion on the future of the industry, he speaks with some authority.
And he believes there is good reason for optimism in 2025 and beyond.
“There are clear opportunities for optical businesses to achieve increased revenue over the coming years,” he says.
“An ever-expanding ageing population alone will continue to swell customer bases. There are also predictions that the uptake of smart glasses will benefit optical retailers.”
But he also admits that “confounders” and questions remain.
“For example, will people who wear prescription glasses choose to purchase their smart glasses from an optical outlet or more likely online or from an electronics retailer?
“Will smart glasses cater for all prescription types?
“Will the uptake of smart glasses impact traditional frame sales just like smartwatches did to the traditional watch market?”
He says his own business experienced exceptional growth in the wake of COVID, but it was challenging to find qualified staff.
“More recently my industry colleagues are suggesting that staff shortage issues have eased somewhat and they are also reporting a general slowdown in trade.”
But they remain optimistic about how their businesses will perform in 2025, he says.
Like others, he sees great potential and gathering momentum in “green-rated spectacle frames” that are manufactured in an environmentally friendly way.
And he highlights companies like Eyes Right Optical and its Project Green collection.
“This stylish range sits the middle to higher end of the market and promotes that for every frame sold, they will provide funding to ensure that one more tree will be planted.”
He too sees momentum for independent practices in 2025 and beyond, despite the growing corporate presence in the industry.
“Over the past few years, I have noticed more and more patients verbalise the term ‘independent’ when referring to the practice,” he says.
“It’s a term that’s always been used within the industry, but not so commonly by our customers.
“This could be a message for independent owners of optical businesses that promoting themselves as an independent could make them more attractive to the discerning public.”
