Asia Pacific Eyewear Market Size By Type (Prescription Glasses, Sunglasses, Contact Lenses and Others), End-User (Men, Women and Kids), Distribution Channel (Online Stores and Retail Stores), Countries (China, Japan, India, South Korea and Rest of Asia Pacific); Trend Analysis, Market Competition Scenario & Outlook, 2016-2026
- Published Date: August 2020
- Report ID: BWC20121
- Available Format: PDF
- Page: 163
Asia Pacific Eyewear Market Size - Industry Trends & Outlook Report 2026
Asia Pacific Eyewear Market is expected to be USD 114.4 billion by 2026 from USD 63.8 billion in 2019, at a CAGR of 8.7 % from 2020 to 2026. Growth in the Asia Pacific Eyewear Market is mainly driven by increasing geriatric population & related eye diseases, the variations offered in the eyewear and technological advancements in lens materials. In recent times, the rising occurrence of eye fatigue also leads to the demand for corrective eyewear. The leading brands and other players introduce innovative eyewear with different shapes, sizes, designs and colors & materials of frames and lenses from time to time. It is a highly competitive market allowing more options to buyers and entry of new players. The players are deploying social media platforms for online marketing and promotional activities. The influencer marketing strategy plays a critical role in eyewear brand endorsements.
Asia Pacific Eyewear Market: Market Outlook and Trends
The prescription glasses for correct vision dominate the eyewear market. The advancements in lens making technology have improved the functionality, durability and appeal of the glasses as well as have enabled mass production of eyewear. The manufacturing of the eyewear has transformed, resolving every eyesight, style or variation issue of the customer. Some of the instances of the latest eyewear developments include premium handcrafted eyewear by Takeuchi Optical blue-light filtering eyewear by Gunnar Optics, lightweight & thin-rimmed glasses, and lenses with higher indexes for improved functionality besides state-of-the-art variety in frames and lenses.
Nowadays, e-commerce sites play a significant role in enhancing the shopping experience of customers and drive the market. They help customers in eyewear selection based on facial analysis and product virtualization. The leading brands deploy new types of business models allowing customization of frames. Also, they have access to the data related to customer feedback, past purchase history and preferences.
Contact Lenses segment accounts for a lesser share (9 to 10%) in the eyewear market, but the advanced silicone-based contact lenses and their higher functionality encourage a shift towards the lenses. All these factors, combined with demand from customers, offers bright prospects for the eyewear market.
Asia Pacific Eyewear Market
Prevalence of Ophthalmological Diseases Drives the Eyewear Market
The widespread eye-related ailments such as eye fatigue, myopia, conjunctivitis, glaucoma, etc. trigger the demand for eyewear. According to estimates of WHO, 2019, 2.2 billion people worldwide have vision difficulties, and the problems of at least half of them yet remain to be addressed. Besides, the rising vision-health awareness and a substantial ageing population with vision in the countries such as Japan, China, India and others are expected to encourage the growth of Asia-Pacific Eyewear Market. As per the hidden opportunities in the market, the eyewear manufacturer offer lines of eyewear. For instance, as mentioned above, Gunnar Optics introduced a new collection of blue light reading glasses for digital device users.
Contemporary Fashion Trends Enhance Demand for Sophisticated Eyewear
Due to the influence of contemporary fashion trend, the sunglasses market is likely to grow more rapidly in comparison to prescription glasses. The market players concentrate on product innovation and an extravagant launch of new designs to match up to their fashion sense and style. Besides, customers of all age use them to make a style statement adding more opportunities to the market.
Changing Lifestyle and Urbanization Leads to the Shopping of Trendy Accessories
The rising disposable income, urbanization, a large proportion of the young population and improved living standard trigger the demand for luxury eyewear. More and more brands target these segments to penetrate in the developing economies such as China, India and other Asia-Pacific countries. Their eyewear products are readily available to the urban customer through their online sales channel and third e-commerce parties while they serve local customers through their physical stores. However, online demand from interiors of the nations is also growing due to the widening penetration of the internet.
A shift towards Laser Surgeries
As per the study published in the Journal of Cataract and Refractive Surgery, 96% of patients are satisfied with the LASIK treatment as it offers a better vision. Besides, the constant use of eyewear adds to unease during active sports, and it also needs maintenance. More and more people are adopting one-time safe laser surgeries due to technological advancements in place of eyewear. Therefore, shift towards Laser surgeries may act as an impediment for this market.
Ineffective Eyecare Solutions
The growth of this market is impeded by the lack of progressive, reasonable and effective eyecare solutions, particularly in marginalized economies.
Impact of COVID-19 in industry
The spread of pandemic has resulted in the overall slowdown of economic activities, including regular medical practices. The medical practitioners in different domains follow strict guidelines to curb further spread of the coronavirus. In initial times of lockdown, some of the ophthalmologists followed the recommendation to postpone routine eye care checkups. It has resulted in a temporary halt on demand of eyewear. But gradually, they are opening facilities to provide non-emergent and non-COVID-19 healthcare. Consequently, the concerned medical bodies in the respective nations are issuing guidelines about elective surgeries and routine care as well as sanitization methods.
All freight modes, including air, ocean ports and land transport, are affected by pandemic and delays in shipping and production of eyewear may continue for some time depending on the particular supplier and the transport restrictions. However, the COVID-19 led lockdown has resulted in extended screen time among the population, leading to more cases of eye fatigue and thus, more opportunities for the eyewear market.
Asia Pacific Eyewear Market: Segmentation
Asia-Pacific eyewear market is segmented by Product Type into Prescription Glasses, Sunglasses and Contact Lenses and Others; by End-User into Men, Women, Unisex and Kids; by Distribution Channel into Online Stores and Retail Stores.
Rising cases of acute myopia among young generation & females and growing awareness about vision healthcare are expected to drive the prescription glasses market during the forecast period. Also, the rising occurrence of eye fatigue among digital devices users is likely to encourage demand for blue-light filtering glasses.
Based on End-user, the unisex glasses segment dominates the market followed by the women segment. As per the recent trend, retail stores’ sales are increasingly being replaced by Online Sales due to higher discounts and more options.
Asia Pacific Eyewear Market: Regional Insights
Asia Pacific region consists of major countries like China, India, Japan, South Korea, Australia and Rest of Asia Pacific. As per the estimates, China is likely to dominate the market with largest market share during the projection period due to the increasing demand for corrective eyewear from the sizeable elderly population. Astounding 80% Chinese college-going students and 17% of Indian youngsters have been diagnosed as myopic, according to a study conducted in Feb. 2019. The other factors triggering the growth of this market are flourishing population and rising disposable income.
China is the leading manufacturer of the eyewear in the Asia-Pacific region, and its manufacturers are mainly concentrated in Wenzhou and Dongguan with QC eyewear companies. More than 60% of frames, sunglasses, presbyopic glasses and over 40% of optical lenses in the world are supplied from China. The leading players in Asia-Pacific Eyewear Market are Prada S.P.A.(Hong Kong), Essilor International S.A.(Singapore), Grand Vision (China), Titan Eyeplus (India), Luxottica Group S.P.A (China), Fielmann AG, Carl Zeiss AG (China), and Johnson & Johnson, Inc.(China and Singapore), Safilo Group S.P.A (China) and others.
June 02, 2020: The major eyewear companies such as Titan, Essilor and Luxottica notice the surge in sales of filtered and clear glasses, due to significant increase in screen time in the lives of people during the lockdown.
Dec. 5, 2019: Gentle Monster Eyewear brand headquartered in Korea opens its 10th flagship store in the Chinese Market. It has partnered with Chinese tech company Huawei to roll out smart glasses and planned to establish six more flagship stores in China in 2020.
Scope of the Report:
Historical data – 2016-2019
Base Year – 2019
Forecast – 2020 – 2026
Revenue in USD Billion
China, Japan, India, South Korea and Rest of Asia Pacific
By Type, End-User and Distribution Channel.
Prada S.P.A.(Hong Kong), Essilor International S.A.(Singapore), Grand Vision (China), Titan Eyeplus (India), Luxottica Group S.P.A (China), Fielmann AG, Carl Zeiss AG (China), and Johnson & Johnson, Inc.(China and Singapore), Safilo Group S.P.A (China)
Ø Prescription Glasses
Ø Contact Lenses
By Distribution Channels
Ø Online Stores
Ø Retail Stores
The objective of the Study:
Ø To analyze and estimate the Asia-Pacific Eyewear Market size, in terms of value.
Ø To examine the market segmentation carefully and estimate the market size, in terms of value, based on the region by segmenting the Asia-Pacific Eyewear Market into countries such as China, Japan, India, South Korea and Rest of Asia Pacific.
Ø To outline, categorize and project the Asia-Pacific Eyewear Market based on the Type, End-User and Distribution Channel.
Ø To examine competitive developments in type of eyewear, end-user segments and distribution channels within the Asia-Pacific Eyewear Market
Ø To highlight market dynamics such as drivers, restraints, opportunities, and challenges and their impact.
Ø To provide a detailed competitive landscape, including major players, their strategic profiles, and market shares.
Business Questions Answered by the Report
Ø How will the market drivers, restraints, and opportunities affect the market dynamics?
Ø What will be the market size in terms of value and volume and market statistics with a detailed classification?
Ø Which segment dominates the market or region, and which one will be the fastest-growing, and why?
Ø Who are the key players in the market, and what is their share?
Ø What is the strategy adopted by key players, and how does it affect the existing and new players?
Customization Scope for the Client
Client satisfaction is our first and last priority, and that is why BlueWeave Consulting offers customization as per client’s specific needs. The following customization options are available for the report:
Ø Additional Company Information
Ø Detail Analysis of five additional companies
Ø Additional country analysis
Ø Detailed segment analysis
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