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Global Eyewear Market: Focus on Contact Lenses & Sunglasses
Koncept Analytics, Nov 2008, Pages: 38
In the worldwide contact lens market, North America is the largest market but it is also growing at the slowest rate. North America is followed by Europe and Asia-Pacific, with the Asia-Pacific region experiencing the most rapid growth rate. Major eyewear players are targeting emerging markets such as India and China. Italian companies like Safilo Group and Luxottica Group, and US-based Viva International Group are entering emerging markets in Asia.
The demand for varifocals (compared to bifocals) is increasing, even though varifocals are four times as expensive as single vision lenses. The transition to disposable contact lenses and the demand of specialty lenses is also driving market growth. Another key trend is that individuals over the age of 50-55 are larger users of photochromatic lenses in comparison to younger users.
The worldwide sunglasses market is usually segmented by price and function and the two major price segments are premium and value. The premium segment is growing rapidly in comparison to the value segment.
With consumers treating sunglasses as their fashion statement, eyewear designers are focusing on bright, multi-colored and bejeweled designs of sunglasses. Different designs of sunglasses are being developed for office, casual wear, party wear or beach wear.
The overall contact lens industry is quite fragmented, comprising of eye care practitioners, mass merchandisers and direct marketers, with eye care practitioners having the largest share of the retail market. Direct marketers of contact lenses usually conduct sales via the Internet. 1 800 Contacts is the largest player in the US followed by Coastal Contacts and Visiondirect.
This report analyzes the eyewear market in the US, UK and Germany, besides providing an overall view of the worldwide market. The report provides an in-depth analysis of the contact lens and sunglass segments of the global eyewear market. It also profiles the major retailers and manufacturers, with a discussion of their key business strategies. Finally, the report also analyzes the major trends prevalent in the eyewear market.
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