Asia Pacific Eyewear Market Growth & Trends
The Asia Pacific Eyewear Market size was estimated at USD 43.27 billion in 2023 and is expected to grow at a CAGR of 10.5% from 2024 to 2030. A growth in expenditure on eye health, an increase in awareness about regular eye examinations, and a rise in income levels have contributed to the growth of this market. In addition, increasing availability of ophthalmic treatments and advancements in technology related to the diagnosis and treatment of common ophthalmic disorders have also influenced the industry's growth. Furthermore, the presence of domestic as well as international brands in the regional market has fueled market growth.
Asia Pacific eyewear market held a 23.6% share of the global eyewear market revenue in 2023. The development in infrastructure, technology, healthcare, and resources have positively impacted the developing countries in the region, such as China, India, and Japan. In addition, factors, such as changes in lifestyle, rapid urbanization, growing need for ophthalmic treatments, and increasing prevalence of common eye disorders, such as myopia, astigmatism, presbyopia, and hyperopia, are driving the demand for eye examinations and eyewear products in the region.
In developing countries like India, hospitals, charitable trusts, and social welfare organizations regularly conduct low-cost or free-of-cost eye examination campaigns. These campaigns bring together experts and examiners for the diagnosis and treatment of eye problems. Such initiatives significantly impact the regional market growth.
The entry of international brands in Asia Pacific, with a specific strategy of promoting eyewear as a fashion accessory, has driven the market growth. Brand awareness and increased brand visibility attained by distribution through mall stores, specialty stores dedicated to fashion accessories, and online retailing have also resulted in an upsurge in demand for eyewear, such as 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. A substantial percentage of the population in developing countries, such as India, has been facing severe vision deficiencies.
- The sunglasses segment is expected to experience a CAGR of 11.6% from 2024 to 2030 due to the increased availability of branded and premium-range products.
- 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. It is primarily due to the increasing penetration of smartphone technology, growing accessibility to the internet, rising availability of eyewear through e-commerce platforms, and several alternatives offered by these platforms.
- The India eyewear market is expected to experience a CAGR of 11.9% from 2024 to 2030. The growing demand for eyewear products in India is primarily driven by a large number of people suffering from visual impairments and increasing acceptance of eyewear products as fashion accessories by young buyers.
Asia Pacific Eyewear Market Segmentation
Grand View Research has segmented the Asia Pacific eyewear market report 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
- Country Outlook (Revenue, USD Million, 2018 - 2030)
- Japan
- China
- India
- Australia
- South Korea
- Singapore
- Vietnam
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