The Asia Pacific Spectacle Market would witness market growth of 8.2% CAGR during the forecast period (2020-2026). Increased occurrence of refractive errors particularly among the young population is expected to generate new avenues of revenue for the worldwide spectacles market. Also, for effective and better correction of vision, prescription glasses as compared to contact lenses are preferred. This factor is anticipated to drive the global market growth for global spectacles in the coming years.
Growing demand for handy eyewear is likely to contribute to the growing number of retail stores. Offline stores such as specialty stores and optical shops offer customization, personal assistance, and convenience to the consumers, which in turn will push the segment growth. These stores also provide complete eye checkups for the consumers to select the correct eyeglasses. Moreover, they offer easy exchange and repair services for lens and frames, which ultimately saves customers money and time.
Asia Pacific is the fastest-growing market of spectacles. Majority of youth in Japan, China, Singapore, and South Korea are suffering from myopia. As per the National Health Commission, around half of children and youngsters from mainland China were suffering from vision impairment in 2019. Such a high occurrence is projected to boost regional demand. Furthermore, the speedy rise in the working population in developing countries like China, India, and Vietnam is estimated to fuel the demand for computer glasses.
Based on Parts, the market is segmented into Lens and Frames. Based on Distribution Channel, the market is segmented into Online and Offline. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: Spectacle Market in Asia Pacific is expected to register a CAGR of 8.2% during the forecast period (2020-2026)
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include EssilorLuxottica SA (Essilor Instruments USA), Johnson and Johnson (Johnson and Johnson Vision Care, Inc.), Novartis AG (Ciba Vision), Carl Zeiss AG, Zenni Optical, Inc., Jand, Inc. (Warby Parker), Lenskart Solutions Pvt. Ltd., Hoya Corporation, MODO and Titan Group Limited (Tata Group).
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Companies Profiled
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