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

0


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:

https://www.kenresearch.com/consumer-products-and-retail/cosmetics-and-personal-care/malaysia-eyewear-market/142270-95.html

Related Reports by Ken Research

https://www.kenresearch.com/consumer-products-and-retail/cosmetics-and-personal-care/india-plastic-lens-market-report/41128-95.html

https://www.kenresearch.com/consumer-products-and-retail/cosmetics-and-personal-care/india-eye-wear-market-research-report/377-95.html

https://www.kenresearch.com/consumer-products-and-retail/cosmetics-and-personal-care/singapore-eyewear-market/142265-95.html

Contact:                     

Ken Research

Ankur Gupta, Head Marketing & Communications

query@kenresearch.com

+91-124-4230204

Share.

Comments are closed.