Eyewear Market - Size, Share, Growth, Current Trends, and Global Forecast 2020

Eyewear are corrective or protective devices which help to protect eyes from harmful radiations and enhance one’s overall look and appearance. Increasing number of elderly people would drive the demand of vision correction spectacles, as vision deteriorates with ageing, thereby creating the need for spectacles and other corrective eyewear. Owing to reduced birth and fertility rates, countries such as China and Japan are exhibiting a robust growth in number of old aged people, thereby generating a high demand for spectacles in Asia Pacific region. Moreover, the stylish consumers owing to their increasing awareness of fashion trends, are now preferring branded and international eyewear labels. Among the key Asian countries, in 2014, China occupied the highest revenue share in region. International brands are also expanding their foothold like never before in the Asia Pacific region, in a bid to explore the lucrative pockets in the region. For instance, prominent and leading companies such as Carl Zeiss have established a new center in China and India to cater to the market and expand their customer base.

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In Asia-Pacific region, men segment holds a major share in the eyewear market. However, the women’s segment is expected to witness a robust growth, registering a CAGR of 15.5 during the forecast period. Increasing trend of women purchasing multiple branded eyewear, coordinated perfectly with occasion and attire, has driven the growth of the eyewear market in the region. In 2014, Prada launched the new spring-summer 2014 eyewear collection for women. The collection launched by Prada, is incorporated with colourful and decorative gemstones on the frames, thereby aiming to offer a wide array of colourful sunglasses to the customers. Among product type, contact lenses segment would witness the highest growth in the region, owing to increased usage of disposable contact lenses by consumers. Based on mode of sale, the APAC eyewear market is segmented into online stores and retail stores. Retail mode of distribution would be the major revenue contributor to the Asia Pacific eyewear market throughout the forecast period. However, the online store segment is the fastest growing segment in the region, growing at a significant rate during the forecast period.

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The Asia Pacific eyewear market is segmented into product type, end user, mode of sale and country. The product type includes prescription glasses/spectacles, sunglasses and contact lenses. End user segment comprises men and women, whereas, online stores and retail stores are included in mode of sale segment. The report provides an in-depth analysis of the eyewear market of the Asia-Pacific region, which includes China, India, Japan, South Korea and Rest of Asia-Pacific.

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KEY BENEFITS:

• The report provides an in-depth analysis of the eyewear market in the Asia-Pacific region and offers current and future trends to identify lucrative investment pockets in the market
• The report identifies key drivers, restraints and opportunities that shape the market and provide an impact analysis for the forecast period
• Current and future trends are outlined to determine the overall attractiveness and highlight the profitable trends in order to gain a stronger foothold in the market
• Market estimation of geographic segments is derived from the current market scenario and expected market trends
• Porter’s five forces analysis highlights the potency of buyers and suppliers in this market

 This partnership also complements Bausch + Lomb’s existing portfolio of lenses. The key market players profiled in the report include, Luxottica Group S.p.A, Essilor International S.A, Safilo Group S.p.A, GrandVision, Marcolin S.p.A, Johnson & Johnson, Inc., Valeant Pharmaceuticals International, Inc., Prada S.p.A, Hoya Corporation and Carl Zeiss AG.

ASIA PACAFIC EYEMARKET MARKET SEGMENTS:

The Asia-Pacific eyewear market is segmented by product type, end-user, mode of sale, and country.

Market By Product Type

• Prescription glasses/Spectacles

• Sunglasses

• Contact Lenses

Market By End User

• Men

• Women

Market By Mode of Sale

• Retail Stores

• Online Stores

Market By Country

• China

• India

• Japan

• South Korea

• Rest of Asia-Pacific

KEY PLAYERS:

• Luxottica Group S.p.A

• Essilor International S.A

• Safilo Group S.p.A

• GrandVision

• Marcolin S.p.A

• Johnson & Johnson, Inc.

• Valeant Pharmaceuticals International, Inc.

• Prada S.p.A

• Hoya Corporation

• Carl Zeiss AG