Showing posts with label Sunglasses Industry Malaysia. Show all posts
Showing posts with label Sunglasses Industry Malaysia. Show all posts

Monday, November 13, 2017

Malaysia Eyewear Market is Expected to register sales worth about USD 480 Million by 2021: Ken Research

Malaysia Eyewear Market by Type (Spectacles and Contact Lens), by Type of Spectacles (Eyeglasses and Sunglasses), by Spectacle Glass and Frame, by Branded and Unbranded Spectacles, by Type of Contact Lens (Clear Spherical and Clear Toric), by Contact Lens Replacement Time (Monthly Disposable Lens and Daily & Bi-weekly Disposable Lens), by Market share of Major companies (Luxottica, Hoya, Essilor, Johnson and Johnson, Carl Zeiss and others including Novartis, Safilo, Valeant Pharmaceuticals, Vision Service Plan, Oculus, Bausch & Lomb)
In the recent years Malay customers are showing an increasing preference for open concept optical goods stores. Consumers in the country have started prioritizing a free shopping experience where they can touch, feel and try on spectacle frames to decide on the ones that suits their appearance without being approached and served by sales assistants.
In Malaysia, a shift in the fashion trends has been observed among the people in the recent years. People have started adopting Korean fashion trends in eyeglasses and sunglasses.
The incidence of myopia and presbyopia are on a continuous rise in the country in the recent years leading to an increased demand for eyewear products; especially prescription glasses and contact lenses.
Malaysia Eyewear market is a growing industry with high population base of fashion conscious, myopic and presbyopic target audience. The industry is expected to witness high sales of eyeglasses, sun glasses and contact lenses with increased eye care educational programs conducted by the Ministry of Health in partnership with the major eyewear players. The sales and promotional strategies adopted by the major players in the market are expected to continue to be the stimulus for the customers to further be attracted to the eyewear products offered by them. The rising rate of myopia and hyperopia in the country has also led to a rapid and increased acceptance of contact lens among the Malays.
Currently, Photo-chromic lenses are trending in the country in the recent years and are expected to stay in the market for the coming years. Hence, the eyewear companies are introducing photo-chromic lenses in their product portfolio observing the rising demand among the public.
The major retailers in the country are focusing on online sales in the recent years owing to the rising internet penetration in the country. Web-based ordering system is gaining attraction in the recent years. Moreover, some companies have started offering 3D trials online. The most preferred choice of spectacles among the Malaysians is expected to be influenced from Korean fashion trends during the forecast period. A recent trend visible among the Malaysians is that they are becoming increasingly fashion conscious, which is a positive factor for the eyewear products in the country. Improved fashion consciousness among the people shall also raise the share of the branded eyewear products in the market. The demand for sunglasses shall be raised owing to the fashion trend.
Malaysians are highly price conscious due to which the major players in the country offer branded eyewear products at discounted and affordable prices. Three major trends visible in the country during this period were retro (especially round shapes from the 1920s), colorful frames and the classic bold black frames. In terms of material, acetate was leading the race, especially with full-rim frames that are currently dominating the market.
One among the major concerns of Malaysia is the increasing rate of aging population in the country. Apart from an increase in the aged population, the aged are also living longer as underscored by an increase in life expectancy. A popular vision impairment that is caused by aging is Presbyopia which may not be permanently repaired through a vision correction surgery. By 2050, the aging population is expected to reach nearly a quarter of the population. This is expected to raise the demand for prescription glasses among the people aged 60 years or above.
Ken Research in its latest study, Malaysia Eyewear Market by Type (Spectacles and Contact Lenses), By Sunglasses and Eyeglasses and By Sales Channel - Outlook to 2021 suggests that Luxottica, Hoya, Essilor, Johnson & Johnson and Carl Zeiss will remain the major players in this space. However, these major players will witness rising competition from other foreign as well as local players in the coming years.
Malaysia Eyewear Market is projected to register a positive CAGR during the period 2016-2021. Changing fashion trends, rising rate of aging population, increasing incidences of myopia and hyperopia and attractive promotional strategies of the major players are expected to drive the Malaysia Eyewear Market in the future. The report provides information on market size of the Malaysia eyewear market size, market segmentation on the basis of type of eyewear, type of spectacles, branded and unbranded spectacles, and type of contact lenses and replacement time of contact lens.
Key Topics Covered in the Report:
Malaysia Eyewear Market size
Fashion Eyewear Market Malaysia
Malaysia spectacles market size
Contact lenses market revenue Malaysia
Malaysia kids eyewear market
Value Chain Analysis Malaysia Eyewear Market
Malaysia Eyewear Market Segmentation
Regulations in Eyewear Industry Malaysia
Malaysia Eyewear Import
Market Share Luxottica Malaysia
Future Outlook Eyewear Malaysia
Macroeconomic Factors Malaysia Eyewear
Malaysia myopic populations
Malaysia hyper myopic population
Photo-chromic lenses demand Malaysia
For more information on the research report, refer to below link:
Related Reports by Ken Research
Contact:                     
Ken Research
Ankur Gupta, Head Marketing & Communications
+91-124-4230204

Friday, November 10, 2017

Malaysian Eyewear Market is driven by Increasing Eye Care Educational Programs, Rising Myopia Rates Coupled with Rising Demand for Prescription Glasses: Ken Research

Efforts taken by the Ministry of Health and the major players in the country to educate Malaysians about the prevention of eye diseases, increased incidences of myopia and hyperopia and premiumisation of eyewear products were the key driver of eyewear market growth in Malaysia during the review period.
The report titled “Malaysia Eyewear Market by Type (Spectacles and Contact Lenses), By Sunglasses and Eyeglasses and By Sales Channel - Outlook to 2021” by Ken Research suggested a positive CAGR in terms of revenue in eyewear market in the next 5 years till 2021.
Malaysia-Eyewear-Market
In Malaysia, eyewear products always had a significant importance owing to the increased rate of vision impairments in the country. Malaysia has blindness and visual impairment rates that are comparable with other countries in the South East Asia region. Cataract and uncorrected refractive errors, though readily treatable, are still the leading causes of blindness in the country. Hence, there always had been a high demand for prescription glasses. Over the course of time, the consumer preferences and behaviors has also evolved. By passing time the designs, models, materials and lot more have upgraded and changed to a notable manner. The eyewear companies have consistently analyzed, researched and identified the gaps and problems with existing products and its features. Contact lenses were introduced in the country as part of these up-gradations. Currently, frequent replacement lenses (FRP) are highly demanded in the country.

Malaysia is one among the countries in the world where the vision impairments like myopia, hyperopia and presbyopia are rising at an alarming rate. Largely, owing to the increased demand for prescription glasses the eyewear market in Malaysia has grown at a CAGR of 6.4% during the review period 2011-2016. There is also a significant demand for sunglasses in the country. Malaysians are highly price conscious due to which the major players in the country offer branded eyewear products at discounted and affordable prices. Moreover, the optical shops in the country hold sales and promotional activities to attract a larger lot of Malay customers and also to accommodate the evolving consumer behavior, many optical shops have refurbished their existing store layouts to an open concept store layout.
Both, contact lenses and prescription glasses are demanded highly in the country and the major reason portrayed behind such a demand is the increasing optical prescriptions among the Malaysians. Currently, an uncertain economic condition is prevalent in the country. The price of consumer goods are increasing and the monthly household consumption expenditure for Malaysia increased from MYR ~ in 2014 to MYR ~ in 2016 which grew at ~% per annum. This trend is expected to reduce the consumer spending on products like eyewear in the near future.
Key Topics Covered in the Report:
Malaysia Myopic Populations
Market Share Luxottica Malaysia
Sunglasses Industry Malaysia
Sunglasses Brand Share Malaysia
Sunglasses Brand Share Malaysia
Malaysia Hyper Myopic Population
Photo-Chromic Lenses Demand Malaysia
For more information on the research report, refer to below link:
Related Reports by Ken Research   
Contact:
Ken Research
Ankur Gupta, Head Marketing & Communications
+91-124-4230204