Asia Pacific Eyewear Market Growth & Trends

The Asia Pacific eyewear market is a significant and growing segment within the global eyewear industry. Valued at USD 43.27 billion in 2023, it is projected to expand at a strong Compound Annual Growth Rate (CAGR) of 10.5% from 2024 to 2030. This robust growth is underpinned by a confluence of economic, social, and technological factors.

Key Growth Drivers:

• Increased Expenditure on Eye Health and Awareness: A notable rise in consumer spending on eye healthcare, coupled with greater awareness about the importance of regular eye examinations, is a primary driver. As incomes rise across the region, particularly in developing economies, individuals are more inclined to invest in their vision health.
• Advancements in Ophthalmic Treatments and Diagnostics: The increasing accessibility of advanced ophthalmic treatments and continuous technological improvements in the diagnosis and treatment of common eye disorders significantly contribute to market expansion. This includes better detection and management of conditions like myopia, astigmatism, presbyopia, and hyperopia, leading to higher demand for corrective eyewear.
• Robust Regional Market Presence: The presence of both well-established domestic and international eyewear brands fuels competition and innovation, ultimately driving market growth.
• Share of Global Market and Regional Development: In 2023, the Asia Pacific eyewear market commanded a substantial 23.6% share of the global eyewear market revenue. This strength is supported by advancements in infrastructure, technology, healthcare systems, and resources within developing countries such such as China, India, and Japan.
• Lifestyle Changes and Urbanization: Rapid urbanization and evolving lifestyles are leading to increased screen time and visual demands, consequently raising the prevalence of eye disorders and the need for ophthalmic solutions.
• Community Initiatives for Eye Health: In developing nations like India, hospitals, charitable trusts, and social welfare organizations actively conduct low-cost or free eye examination campaigns. These initiatives play a crucial role in diagnosing and treating eye problems, significantly impacting regional market growth by increasing access to eye care.
• Eyewear as a Fashion Accessory: The strategic entry of international brands into the Asia Pacific market, specifically positioning eyewear as a fashion accessory, has boosted demand. Enhanced brand awareness and visibility achieved through various distribution channels, including mall stores, dedicated fashion accessory outlets, and online retailing, have led to a surge in demand for eyewear products like sunglasses and spectacle lenses.

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Asia Pacific Eyewear Market Report Highlights

• The spectacles segment dominated the market with a revenue share of 73.1% in 2023.
• Based on the distribution channel, the brick-and-mortar segment dominated the market and accounted for a share of 76.8% in 2023.
• The e-commerce segment is expected to experience a significant CAGR of 12.1% from 2024 to 2030.
• The eyewear market in China accounted for a dominant revenue share of 42.6% in 2023. The presence of a large geriatric population, growing prevalence of ophthalmic disorders in children & young adults, and increasing volume of eye examinations leading to the need for eyewear and vision treatments have propelled the market growth.

Asia Pacific Eyewear Market Segmentation

Grand View Research has segmented the global Asia Pacific Eyewear market based on product, distribution channel and country:

• Product Outlook (Revenue, USD Million, 2018 - 2030)

• Contact Lenses

• Premium Contact Lenses
• Mass Contact Lenses
• Spectacles
• Spectacle Frames

• Spectacle Frames, by Type

• Premium Spectacle Frames
• Mass Spectacle Frames
• Spectacle Frames, by Style
• Round
• Square
• Rectangle
• Oval
• Others
• Spectacle Lenses
• Sunglasses
• Sunglasses, by Lens Type
• Polarized Sunglasses
• Non-Polarized Sunglasses
• Sunglasses, by Lens Material
• CR-39
• Polycarbonate
• Polyurethane
• Others
• Distribution Channel Outlook (Revenue, USD Million, 2018 - 2030)
• Brick And mortar
• E-commerce

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