Industry Background:
Spectacles appliance consisting of a pair of ophthalmic lenses mounted in a frame or rimless mount, resting on the nose and held in place by sides extending towards or over the ears. They are customized to users' eyes and offer a wider viewing area than standard. The factors such as increasing disposable income of the people and advancements in the shape and color of spectacles are driving the global spectacles market.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
Key Companies Profiled | Essilor International S.A. (France), Johnson & Johnson Vision (United States), CIBA VISION (United States), ZEISS International (Germany), HOYA Corporation (Japan), ZENNI OPTICAL, INC. (United States), Warby Parker (United States), Lenskart (India), Titan Company Limited (India) and MODO (United States) |
This growth is primarily driven by Increasing Disposable Income of the People in Developing Region and Rising Demand for Spectacles due to Advancements in the Shape and Color of Spectacles.
Globally, a noticeable market trend is evident Robust Increase in the Distribution Channels
The Personal Products sector in the Asia-Pacific region has been increasing at a sustainable rate, and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Essilor International S.A. (France), Johnson & Johnson Vision (United States), CIBA VISION (United States), ZEISS International (Germany), HOYA Corporation (Japan), ZENNI OPTICAL, INC. (United States), Warby Parker (United States), Lenskart (India), Titan Company Limited (India) and MODO (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
Key Developments in the Market:
Recently, In February 2020, Titan Company Ltd has announced that it has made an acquisition of a Hyderabad-based technology and wearables company, HUG Innovations. Following this strategic move, Titan is likely to get access to the huge base of consumers of HUG Innovations.
Influencing Trend:
Robust Increase in the Distribution Channels and High Demand for Premium Spectacles
Market Growth Drivers:
Increasing Disposable Income of the People in Developing Region and Rising Demand for Spectacles due to Advancements in the Shape and Color of Spectacles
Challenges:
Changing Consumer Buying Behaviors
Restraints:
Availability of Low-Quality Products in Cheaper Rates and Fluctuations in the Raw Material Prices
Opportunities:
Increasing Investments in the Spectacles Market and Growing Demand from End-users
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Spectacles Market
- Analysis about New Entrants in Spectacles Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Spectacles Study Sheds Light on
The Spectacles Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Spectacles industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Spectacles industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.