According to the report by Expert Market Research (EMR), the Australia eyewear market size was valued at around USD 102.4 million in 2023. Aided by the increasing emphasis on products providing both style and functionality and the growing awareness about eye health, the market is projected to grow at a CAGR of 7.9% between 2024 and 2032, reaching a value of nearly USD 204.3 million by 2032.
Eyewear encompasses a range of items worn on or over the eyes for vision correction, protection, and fashion. This category includes spectacles (or eyeglasses), which correct vision impairments like nearsightedness, farsightedness, astigmatism, and presbyopia through lenses mounted in a frame. Sunglasses are another popular type, designed to protect the eyes from harmful ultraviolet (UV) rays while reducing glare and enhancing visual comfort in bright conditions.
The Australia eyewear market is experiencing notable growth and transformation, driven by a blend of technological advancements, changing consumer behaviours, and evolving fashion trends.
The Australia eyewear market growth is fuelled by the increasing awareness of eye health, the rising prevalence of vision impairments, and the expanding ageing population requiring vision correction. Additionally, the market’s expansion is supported by technological innovations in eyewear products, including the development of augmented reality (AR) fitting solutions and smart glasses with health monitoring features.
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The Australia eyewear market is segmented into spectacles, sunglasses, and contact lenses. Spectacles hold a significant share, driven by the high prevalence of myopia and other vision impairments. Sunglasses are also in demand, influenced by fashion trends and the need for UV protection. Contact lenses, particularly daily disposable lenses, are gaining popularity due to their convenience and hygiene benefits.
Consumer preferences are increasingly leaning towards products that offer both functionality and style. The rise of digital screen usage has led to greater demand for eyewear with blue light filtering capabilities. Additionally, there is a growing interest in eco-friendly eyewear options, reflecting broader environmental concerns among consumers.
Technological advancements are revolutionising the Australia eyewear market. Smart glasses, equipped with features such as health monitoring and AR applications, are emerging as a significant trend. These innovations not only enhance the functionality of eyewear but also cater to tech-savvy consumers looking for multifunctional products. Furthermore, advancements in contact lens technology are expanding the range of options available, making them more comfortable and accessible.
The distribution landscape of the Australia eyewear market is evolving, with a notable shift towards online sales. The convenience of online shopping, coupled with the wide variety of products available, has made e-commerce a preferred channel for many consumers. This trend was accelerated by the COVID-19 pandemic, which saw a surge in online purchases as physical stores faced restrictions. Despite this shift, traditional optical stores and independent brand showrooms remain important distribution channels, offering personalised services such as eye tests and fittings.
Fashion trends play a crucial role in propelling the Australia eyewear market expansion. Oversized rims, thin-wired frames, and tech wear-inspired designs are among the popular styles gaining traction. These trends reflect a blend of aesthetics and functionality, appealing to fashion-conscious consumers. The influence of celebrities and fashion shows also drives demand for trendy eyewear, positioning it as a key fashion accessory.
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Regionally, the market shows varying dynamics across Australia. Major markets include the Australian Capital Territory, New South Wales, Victoria, and Queensland. Each region has its unique consumer preferences and market conditions, influencing the overall market strategy for eyewear brands. Understanding these regional nuances is crucial for brands looking to maximise their market presence and cater to specific consumer needs.
Market Segmentation
The Australia eyewear market can be divided based on product type, gender, price range, distribution channel, and region.
Market Breakup by Product Type
- Contact Lenses
- Spectacles
- Sunglasses
Market Breakup by Gender
- Unisex
- Women
- Men
Market Breakup by Price Range
- Low
- Medium
- Premium
Market Breakup by Distribution Channel
- Online Stores
- Optical Stores
- Retail Stores
- Independent Brand Showrooms
Market Breakup by Region
- New South Wales
- Victoria
- Queensland
- Australian Capital Territory
- Western Australia
- Others
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the Australia eyewear market. Some of the major players explored in the report by Expert Market Research are as follows:
- Vision Service Plan (VSP)
- Optex Australia
- Benra Pty Ltd
- PVH Brands Australia Limited
- Ozeano Pty Ltd.
- Others
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