Asia Pacific Eyewear Market Trends, Share, Size, Demand, Revenue and Future Outlook
Asia Pacific Eyewear Market Growth, Size, Trends Analysis - By Product, By Distribution Channel - Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Dec-2024 | Report ID: FMCG24219 | Pages: 1 - 157 | Formats*: |
| Category : Consumer & Retail | |||
Asia Pacific Eyewear Market Introduction and Overview
According to SPER Market Research, the Asia Pacific Eyewear Market is estimated to reach USD 43771.39 million by 2033 with a CAGR of 4.25%.
The report includes an in-depth analysis of the Asia Pacific Eyewear Market, including market size and trends, product mix, Applications, and supplier analysis. Eyewear refers to goods and accessories worn on or over the eyes, either for fashion or to protect them. Eyewear includes contact lenses, prescription glasses, and designer glasses. They are available at a variety of costs. Contact lenses and prescription glasses are non-surgical treatments for vision issues such as myopia and hyperopia. People occasionally wear glasses that imitate prescription glasses as a fashion statement.
- Huawei introduced Eyewear 2, its newest innovation-backed product, in China in May 2024. The semi-framed, rectangular eyewear is powered by lenses that are UV400 protected. Sleeker temples, silicon-made changeable nose pads, an ergonomic arch, an open acoustics design, a dual-mic layout, a larger battery, magnetic charging, small case folds, and touch controls are also features in this device.
- In March 2024, LensCrafters, an eyeglasses brand owned by the Italian corporation Luxottica Group, was purchased by Reliance Retail, one of the leading businesses in a number of industries, including consumer goods, fashion, electronics, and e-commerce. The acquisition was handled by DLF, which was operating a franchised chain of LensCrafters locations around the nation.
Market Opportunities and Challenges
Opportunities:
Growing Knowledge of Eye Protection - The nation's demand for eyeglasses goods has surged in recent years due to greater awareness of eye protection. The use of eyewear items such as sunglasses and refractive glasses has increased as individuals have realized the advantages of shielding their eyes from damaging radiation and excessive electrical use. Prolonged usage of a laptop or mobile phone can lead to blurred vision, dry eye and irritation, excruciating throbbing headaches around the eye area, and computer/mobile eye strain. Furthermore, when the ozone layer depletes, more UV rays penetrate the atmosphere, harming people's vision even more. As a result, people are attempting to safeguard themselves by wearing protective eyewear, which is driving growth in the Asia Pacific eyewear sector.
Challenges: Corrective eye surgery penetration and awareness are continuously increasing throughout Asia Pacific, which is projected to impede the Asia Pacific Eyewear Market. Furthermore, insurance coverage for eye surgeries (Lasik surgery) has expanded in China, resulting in a rise in demand for corrective eye surgeries. As a result of rising insurance and government plan penetration, as well as technical improvements, people are increasingly opting for corrective eye procedures, which may restrict the region's eyewear market throughout the projection period. Furthermore, eyewear is prone to becoming lost and destroyed over time, as well as fogging up in cold weather or while wearing a face mask, which will limit eyewear adoption during the predicted period.
Market Competitive Landscape
The Asia Pacific Eyewear is extremely competitive, with several significant competitors operating globally. Key market participants include Essilor; HOYA Corp; JINS Eyewear US, Inc; Seiko Optical Products Co., Ltd; PRADA S.P.A; Lenskart; Bolon; SAFILO GROUP S.P.A; Huawei Device Co., Ltd; Reliance Retail.
Scope of the report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Product, By Distribution Channel |
| Regions covered | Australia, China, India, Japan, South Korea, Rest of Asia-Pacific |
| Companies Covered | Essilor; HOYA Corp; JINS Eyewear US, Inc; Seiko Optical Products Co., Ltd; PRADA S.P.A; Lenskart; Bolon; SAFILO GROUP S.P.A; Huawei Device Co., Ltd; Reliance Retail. |
By Distribution Channel Insights:
It is anticipated that the e-commerce sector will grow at a substantial rate between 2024 and 2030. The main causes include the expanding use of smartphones, easier access to the internet, the expansion of eyewear sales through e-commerce platforms, and the variety of options these platforms provide. Further driving the market growth are the e-commerce platforms' services, which include doorstep delivery, return and refund policies, customer support both before and after the sale, thorough user reviews posted on the internet, and cutting-edge products like virtual try-ons.
COVID-19 Impact on Asia Pacific Eyewear Market
The quick spread of COVID-19 has had a substantial impact on the sales of contact lenses, sunglasses, and prescription eyeglasses. During the early stages of the COVID-19 pandemic, governments around the world implemented draconian lockdowns. This resulted in the long-term closure of ophthalmology clinics and retail establishments. The postponement of non-urgent eye examination appointments resulted in lower sales revenue for many industry competitors. Furthermore, disruptions in the manufacturing and delivery of sunglasses, spectacle lenses, and contact lenses due to the COVID-19 epidemic have contributed to lower market growth in 2020.
Key Target Audience:
- Eyewear Manufacturers
- Retailers and Distributors
- Healthcare Professionals
- Fashion and Lifestyle Brands
- Government and Regulatory Bodies
- Investors and Venture Capitalists
- Technology Innovators
Our in-depth analysis of the Asia Pacific Eyewear Market includes the following segments:
| By Product: | |
| By Distribution Channel: |
Key Topics Covered in the Report:
- Asia Pacific Eyewear Market Size (FY’2024-FY’2033)
- Overview of Asia Pacific Eyewear Market
- Segmentation of Asia Pacific Eyewear Market By Product (Contact lenses, Spectacles, Sunglasses)
- Segmentation of Asia Pacific Eyewear Market By Distribution Channel (Store-based, E-commerce, Others)
- Statistical Snap of Asia Pacific Eyewear Market
- Expansion Analysis of Asia Pacific Eyewear Market
- Problems and Obstacles in Asia Pacific Eyewear Market
- Competitive Landscape in the Asia Pacific Eyewear Market
- Impact of COVID-19 and Demonetization on Asia Pacific Eyewear Market
- Details on Current Investment in Asia Pacific Eyewear Market
- Competitive Analysis of Asia Pacific Eyewear Market
- Prominent Players in the Asia Pacific Eyewear Market
- SWOT Analysis of Asia Pacific Eyewear Market
- Asia Pacific Eyewear Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s2.2. Market size estimation2.2.1. Top-down and Bottom-up approach2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges4.2. COVID-19 Impacts of the Asia Pacific Eyewear Market.
5. Market variable and outlook
5.1. SWOT Analysis5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats5.2. PESTEL Analysis5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape5.3. PORTER’s Five Forces5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Asia Pacific Eyewear Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Asia Pacific Eyewear Market
7. Asia Pacific Eyewear Market, By Product (USD Million) 2020-2033
7.1. Asia Pacific Eyewear Market Size, Share and Forecast, By Product, 2020-20267.2. Asia Pacific Eyewear Market Size, Share and Forecast, By Product, 2027-20337.3. Contact lenses7.4. Spectacles7.5. Sunglasses
8. Asia Pacific Eyewear Market, By Distribution Channel (USD Million) 2020-2033
8.1. Asia Pacific Eyewear Market Size, Share and Forecast, By Distribution Channel, 2020-20268.2. Asia Pacific Eyewear Market Size, Share and Forecast, By Distribution Channel, 2027-20338.3. E-commerce8.4. Store-based8.5. Others
9. Asia Pacific Eyewear Market Forecast, 2020-2033 (USD Million)
9.1. Asia Pacific Eyewear Market Size and Market Share
10. Asia Pacific Eyewear Market, By Region, 2020-2033 (USD Million)
10.1. Asia Pacific Eyewear Market Size and Market Share By Region (2020-2026)10.2. Asia Pacific Eyewear Market Size and Market Share By Region (2027-2033)10.3. Australia10.4. China10.5. India10.6. Japan10.7. South Korea10.8. Rest of Asia-Pacific
11. Company Profile
11.1. Essilor11.1.1. Company details11.1.2. Financial outlook11.1.3. Product summary11.1.4. Recent developments11.2. HOYA Corporation11.2.1. Company details11.2.2. Financial outlook11.2.3. Product summary11.2.4. Recent developments11.3. JINS Eyewear US, Inc11.3.1. Company details11.3.2. Financial outlook11.3.3. Product summary11.3.4. Recent developments11.4. Seiko Optical Products Co., Ltd11.4.1. Company details11.4.2. Financial outlook11.4.3. Product summary11.4.4. Recent developments11.5. PRADA S.P.A11.5.1. Company details11.5.2. Financial outlook11.5.3. Product summary11.5.4. Recent developments11.6. Lenskart11.6.1. Company details11.6.2. Financial outlook11.6.3. Product summary11.6.4. Recent developments11.7. Bolon11.7.1. Company details11.7.2. Financial outlook11.7.3. Product summary11.7.4. Recent developments11.8. SAFILO GROUP S.P.A11.8.1. Company details11.8.2. Financial outlook11.8.3. Product summary11.8.4. Recent developments11.9. Huawei Device Co., Ltd11.9.1. Company details11.9.2. Financial outlook11.9.3. Product summary11.9.4. Recent developments11.10. Reliance Retail11.10.1. Company details11.10.2. Financial outlook11.10.3. Product summary11.10.4. Recent developments11.11. Others
12. Conclusion
13. List of Abbreviations
14. Reference Links
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Asia Pacific Eyewear Market is projected to reach USD 43771.39 million by 2033, growing at a CAGR of 4.25% during the forecast period.
Asia Pacific Eyewear Market grew in Market size from 2024. The Market is expected to reach USD 43771.39 million by 2033, at a CAGR of 4.25% during the forecast period.
Asia Pacific Eyewear Market CAGR of 4.25% during the forecast period.
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Asia Pacific Eyewear Market size is USD 43771.39 million from 2024 to 2033.
Asia Pacific Eyewear Market is covered By Product, By Distribution Channel
The Asia Pacific is anticipated to have the highest Market share in the Asia Pacific Eyewear Market.
The Key players in the Market include Companies Covered Essilor; HOYA Corp; JINS Eyewear US, Inc; Seiko Optical Products Co., Ltd; PRADA S.P.A; Lenskart; Bolon; SAFILO GROUP S.P.A; Huawei Device Co., Ltd; Reliance Retail.
The high cost of advanced diabetes drugs and the financial burden of treating diabetes remain major obstacles to market growth, despite the fact that numerous drugs have been approved for the condition and that governments and industry players are launching numerous initiatives.
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