Singapore Eyewear Market Growth, Trends, Size, Share, Competition and Future Opportunities
Singapore Eyewear Market Size- By Product, By End User, By Distribution Channel- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Apr-2023 | Report ID: FMCG2343 | Pages: 1 - 102 | Formats*: |
| Category : Consumer & Retail | |||
Singapore Eyewear Market Overview
According to SPER Market Research, the Singapore Eyewear Market is estimated to reach USD 0.75 billion by 2033 with a CAGR 6.28%.
The eyewear market refers to the industry that produces and sells products related to eyewear, such as glasses, contact lenses, and sunglasses. People use eyewear for various reasons, including vision correction, protection from the sun's harmful rays, or simply as a fashion accessory. The market includes a variety of brands and styles that cater to different needs and preferences. The eyewear market has seen significant growth in recent years due to factors such as an ageing population and increased awareness of the importance of eye health.
Exploring the Growth Drivers of the Singapore Eyewear Industry
The Singapore eyewear market has been experiencing growth due to various factors. One such factor is the increasing awareness of eye health and the importance of regular eye check-ups, which has led to a greater demand for vision correction products such as glasses and contact lenses. Additionally, Singapore is home to a large ageing population, which often requires vision correction as they age, creating a steady demand for eyewear products. Another growth factor is the rise in disposable income and the willingness of consumers to spend on high-quality and fashionable eyewear. As a result, there has been an increase in the number of premium eyewear brands entering the market, offering a wider variety of stylish and trendy options.
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What challenges does the Singapore Eyewear Market face?
The Singapore eyewear market faces several challenges that can affect its growth and profitability. One major challenge is the increasing competition in the market. With more eyewear brands and styles available, companies must work harder to differentiate themselves and offer unique products to attract customers.
Another challenge is the growing popularity of online shopping, which allows consumers to easily purchase eyewear products from international retailers, potentially hurting local retailers. The rise of online shopping has also increased the prevalence of counterfeit eyewear, which can negatively affect the reputation of legitimate brands.
The Singapore eyewear market also faces regulatory challenges, such as the need to comply with safety and quality standards. Companies must ensure that their products meet safety and quality requirements to avoid legal repercussions and maintain customer trust.
In what ways has the COVID-19 pandemic affected Singapore Eyewear Market?
The COVID-19 pandemic has had a significant impact on the Singapore eyewear market. During the pandemic, many people were hesitant to visit optical stores for fear of exposure to the virus. As a result, the demand for eyewear products decreased significantly, leading to a decline in sales and revenue for many businesses in the industry. Moreover, the restrictions on international travel have also affected the market, as Singapore is a popular tourist destination. With fewer tourists visiting Singapore, there has been a decline in the demand for sunglasses and other eyewear products that are typically purchased by tourists.
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Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Product, By End User, By Distribution Channel |
| Regions covered | Central Region, Eastern Region, Northern Region, Southern Region, Western Region |
| Companies Covered | Alexis Eyewear Boutique, Bausch & Lomb Inc, C.E.D.S, Capitol Optical, Carl Zeiss AG, Chai Ming Optical, Coach Inc, De Rigo SpA, Essilor International SA, Hoya Corp, Johnson & Johnson Vision, Luxottica Group SpA, Novartis AG, Owndays Co. Ltd, Paris Miki, Safilo Group SpA, The Cooper Cos Inc., Valeant Pharmaceuticals International Inc. |
Key Target Audience:
- Individuals with vision impairments, including children, adults, and seniors
- Individuals who want to protect their eyes from harmful UV rays and glare
- Individuals who want to make a fashion statement with their eyewear
Singapore Eyewear Market Segmentation:
1. By Product:
- Singapore Eyewear Market Value Share and Forecast, By Product, 2023-2033
- Spectacles
- Sunglasses
- Contact Lenses
- Others
2. By End User:
- Singapore Eyewear Market Value Share and Forecast, By End User, 2023-2033
- Male
- Female
- Unisex
3. By Distribution Channel:
- Singapore Eyewear Market Value Share and Forecast, By Distribution Channel, 2023-2033
- Offline
- Online
4. By Region:
- Central Region
- Eastern Region
- Northern Region
- Southern Region
- Western Region
Key Topics Covered in the Report:
- Singapore Eyewear Market Size (FY’2023-FY’2033)
- Overview of Singapore Eyewear Market
- Segmentation of Singapore Eyewear Market By Product (Spectacles, Sunglasses, Contact Lenses & Others)
- Segmentation of Singapore Eyewear Market By End User (Male, Female, Unisex)
- Segmentation of Singapore Eyewear Market By Distribution Channel (Offline, Online)
- Statistical Snap of Singapore Eyewear Market
- Growth Analysis of Singapore Eyewear Market
- Problems and Challenges in Singapore Eyewear Market
- Competitive Landscape in the Singapore Eyewear Market
- Impact of COVID-19 and Demonetization on Singapore Eyewear Market
- Details on Recent Investment in Singapore Eyewear Market
- Competitive Analysis of Singapore Eyewear Market
- Key Players in the Singapore Eyewear Market
- SWOT Analysis of Singapore Eyewear Market
- Singapore Eyewear Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges
4.2. COVID-19 Impacts of the Singapore Eyewear Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Singapore Eyewear Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Singapore Eyewear Market
7. Singapore Eyewear Market, By Product (USD Million)
7.1. Singapore Eyewear Market Value Share and Forecast, By Product, 2023-20337.2. Spectacles7.3. Sunglasses7.4. Contact Lenses7.5. Others
8. Singapore Eyewear Market, By End User (USD Million)
8.1. Singapore Eyewear Market Value Share and Forecast, By End User, 2023-2033
8.2. Male8.3. Female8.4. Unisex
9. Singapore Eyewear Market, By Distribution Channel (USD Million)
9.1. Singapore Eyewear Market Value Share and Forecast, By Distribution Channel, 2023-20339.2. Offline9.3. Online
10. Singapore Eyewear Market Forecast, 2019-2033 (USD Million)
10.1. Singapore Eyewear Market Size and Market Share
11. Singapore Eyewear Market, By Product, 2019-2033 (USD Million)
11.1. Singapore Eyewear Market Size and Market Share By Product (2019-2026)11.2. Singapore Eyewear Market Size and Market Share By Product (2027-2033)
12. Singapore Eyewear Market, By End User, 2019-2033 (USD Million)
12.1. Singapore Eyewear Market Size and Market Share By End User (2019-2026)12.2. Singapore Eyewear Market Size and Market Share By End User (2027-2033)
13. Singapore Eyewear Market, By Distribution Channel, 2019-2033 (USD Million)
13.1. Singapore Eyewear Market Size and Market Share By Distribution Channel (2019-2026)13.2. Singapore Eyewear Market Size and Market Share By Distribution Channel (2027-2033)
14. Singapore Eyewear Market, By Region, 2019-2033 (USD Million)
14.1. Singapore Eyewear Market Size and Market Share by Region (2019-2026)14.2. Singapore Eyewear Market Size and Market Share by Region (2027-2033)14.3. Central Region14.4. Eastern Region14.5. Northern Region14.6. Southern Region14.7. Western Region
15. Company Profile
15.1. Alexis Eyewear Boutique
15.1.1. Company details15.1.2. Financial outlook15.1.3. Product summary15.1.4. Recent developments
15.2. Bausch & Lomb Inc
15.2.1. Company details15.2.2. Financial outlook15.2.3. Product summary15.2.4. Recent developments
15.3. C.E.D.S
15.3.1. Company details15.3.2. Financial outlook15.3.3. Product summary15.3.4. Recent developments
15.4. Capitol Optical
15.4.1. Company details15.4.2. Financial outlook15.4.3. Product summary15.4.4. Recent developments
15.5. Carl Zeiss AG
15.5.1. Company details15.5.2. Financial outlook15.5.3. Product summary15.5.4. Recent developments
15.6. Chai Ming Optical
15.6.1. Company details15.6.2. Financial outlook15.6.3. Product summary15.6.4. Recent developments
15.7. Coach Inc
15.7.1. Company details15.7.2. Financial outlook15.7.3. Product summary15.7.4. Recent developments
15.8. De Rigo SpA
15.8.1. Company details15.8.2. Financial outlook15.8.3. Product summary15.8.4. Recent developments
15.9. Essilor International SA
15.9.1. Company details15.9.2. Financial outlook15.9.3. Product summary15.9.4. Recent developments
15.10. Hoya Corp
15.10.1. Company details15.10.2. Financial outlook15.10.3. Product summary15.10.4. Recent developments
15.11. Johnson & Johnson Vision
15.11.1. Company details15.11.2. Financial outlook15.11.3. Product summary15.11.4. Recent developments
15.12. Luxottica Group SpA
15.12.1. Company details15.12.2. Financial outlook15.12.3. Product summary15.12.4. Recent developments
15.13. Novartis AG
15.13.1. Company details15.13.2. Financial outlook15.13.3. Product summary15.13.4. Recent developments
15.14. Owndays Co. Ltd
15.14.1. Company details15.14.2. Financial outlook15.14.3. Product summary15.14.4. Recent developments
15.15. Paris Miki
15.15.1. Company details15.15.2. Financial outlook15.15.3. Product summary15.15.4. Recent developments
15.16. Safilo Group SpA
15.16.1. Company details15.16.2. Financial outlook15.16.3. Product summary15.16.4. Recent developments
15.17. The Cooper Cos Inc.
15.17.1. Company details15.17.2. Financial outlook15.17.3. Product summary15.17.4. Recent developments
15.18. Valeant Pharmaceuticals International Inc.
15.18.1. Company details15.18.2. Financial outlook15.18.3. Product summary15.18.4. Recent developments
16. List of Abbreviations
17. Reference Links
18. Conclusion
19. Research Scope
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
Singapore Eyewear Market is projected to reach USD 0.75 billion by 2033, growing at a CAGR of 6.28% during the forecast period.
Singapore Eyewear Market grew in market size from 2022. The Market is expected to reach USD 0.75 billion by 2033, at a CAGR of 6.28% during the forecast period.
Singapore Eyewear Market CAGR of 6.28% during the forecast period.
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Singapore Eyewear Market size is USD 0.75 billion from 2023 to 2033.
Singapore Eyewear Market Segment is covered By Product, By End User, By Distribution Channel.
The Asia-Pacific region is anticipated to have the highest market share in the Singapore Eyewear Market.
The key players in the market include Companies Covered Alexis Eyewear Boutique, Bausch & Lomb Inc, C.E.D.S, Capitol Optical, Carl Zeiss AG, Chai Ming Optical, Coach Inc, De Rigo SpA, Essilor International SA, Hoya Corp.
The eyewear market has seen significant growth in recent years due to factors such as an ageing population and increased awareness of the importance of eye health.
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