India Optical Eyewear Market Overview
The optical eyewear market in India has seen a determined push on the organized sector and expansion in the chained specialists, as both Indian and international brands browse make use of this highly fragmented market and require a slice of the huge growth that is coming from the cities.
The india optical eyewear market is forecast to stay showing strong growth in demand. India remains market seen as a low penetration and low of each person consumption, and this also provides immense opportunities for future development in sales of products and brands that deliver affordable.
Market in India eyewear industry remains buoyant despite recession.The interest on premium lenses, frames and sunglasses slowed more importantly of the low-price and economy segments, so there was clearly an overall slow-down of rise in value sales by the end of review period.
With spectacles remaining popular, sales of for the purpose of are expected to continue to develop for a steady pace, without having huge spike successful, with a CAGR of any 13.7% over the forecast period. Rapidly financial system, the eyewear market in India as a whole displayed healthy increase in volume sales just last year, while increase in its value sales slowed marginally in accordance with 2011
The prescription market remains biased for spectacles and opticians rarely prescribe for the purpose of unless the person specifically requests them.
While marketers of contact lenses made an aggressive push to the Indian consumer market, especially the young adult segment, the store bought continued to favor spectacles over lenses. The two factors that contain kept the level and rate of growth of sales of lenses below the ones from spectacles are concerns about their use and their price.
Direct imports keep market completely fragmented. Retail shelves in the united states are full of imported spectacle frames and sunglasses. These low-priced imports played a huge role in sustaining demand, specifically for sunglasses, whose sales enjoyed the highest increase of any subsector in 2009, because they been in 2008.
These imports have likewise kept the spectacles market entirely fragmented, with only eight companies holding obviously any good 1% share of retail sales in Indian eyewear market because of India’s “bottom-of-the-pyramid” consumers
Gain competitive intelligence about market leaders. The review duration of India optical eyewear market saw the expansion of several chained specialist retailers, for instance Titan Eye+, GKB Opticals and Vision Care. Titan Eye+ has become a game changer as it's modernized the retail sector and forced others to visit suit. To be able to remain competitive, opticians feel compelled to raise their ranges of frames, offer eye-testing services and carry lenses besides. Reliance’s Vision Express is a second large player that is certainly planning to influence marketing and distribution inside the a considerably long time. Chained specialists can likewise negotiate better refers to suppliers, undertake promotions, offer better prices to customers, and provide greater visibility for brand spanking new products and launches.
Essilor has always been the leading brand in the Indian spectacles sector through the entire review period, along with the company has seen its business almost double between 2002 and 2011. Tucked within the premium end in the market, the brand has taken advantage of the strong increase in demand for high-value prescription lenses in India.
Track key industry trends, opportunities and threats
The prescription marketplace is expected to still drive demand in the forecast period, as literacy rates increase, more children become prospective wearers of spectacles, and economic growth sustains the increase in purchasing power.
The strong rise in using laser surgery to improve vision probably will have a very negative influence within the need for disposable lenses inside the long term. The surgery option is likely to possess a greater adverse influence on the marketplace for contact lenses (which might be chosen by premium, urban consumers) than on the spectacles market.
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