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Australia Eyewear Market Size, Share, Analysis, Forecast: By Product Type: Contact Lenses, Spectacles, Sunglasses; By Gender: Unisex, Women, Men; By Price Range: Low, Medium, Premium; By Distribution Channel: Online Stores, Optical Stores, Retail Stores, Independent Brand Showrooms; Regional Analysis; Competitive Landscape; 2024-2032
Australia Eyewear Market Outlook
The Australia eyewear market size was valued at USD 102.4 million in 2023. The market is further projected to grow at a CAGR of 7.9% between 2024 and 2032, reaching a value of USD 204.3 million by 2032.
Key Takeaways
- As per industry reports, the demand for vision correction and preventive eye care products is influenced by factors such as aging demographics and increased screen time.
- Notable companies in the Australian eyewear market include Vision Service Plan (VSP), Optex Australia, Benra Pty Ltd, and PVH Brands Australia Limited.
- According to data released by the Australian Institute of Health and Welfare (AIHW), 54% of Australians report having at least one long-term eye health condition.
As the population ages, the incidence of vision-related issues like presbyopia and cataracts is expected to rise, leading to a higher demand for vision correction products, such as spectacles and contact lenses. Secondly, the growing interest in fashionable and high-quality eyewear, including designer frames and prescription sunglasses, is fuelling Australia eyewear market growth, driven by changing fashion trends and consumer preferences.
Additionally, the rising awareness of eye health among Australians, particularly the younger generation, is resulting in more frequent eye exams and early detection of eye problems, further boosting the demand for corrective eyewear. Lastly, the increasing focus on eco-friendly and sustainable eyewear products, made from materials like recycled plastic or bamboo, is resonating with environmentally conscious consumers, driving the demand for sustainable eyewear options in the Australian market.
Some of the key trends driving the Australian eyewear market share include the increasing demand for eyewear products due to prolonged exposure to blue light from digital screens, the rising prevalence of myopia among Australians, and the convenience of online purchases, particularly accentuated during pandemic-induced lockdowns. As per industry reports, nearly half of the Australian population wears glasses or contact lenses.
The market is also witnessing a shift towards affordable eyewear options, with brands like Specsavers leading the way by offering budget-friendly products. Moreover, the surge in e-commerce as a primary distribution channel, coupled with the preference for daily disposable contact lenses, is shaping the market landscape and driving growth in Australia's eyewear sector.
In the Australian eyewear market, the market players are emphasising on design aesthetics, technological advancements like virtual try-on features, 3D printing, and customisation options to offer personalised eyewear solutions. For instance, brands like Banton Frameworks recently expanded to Australia and offers 3D printed custom-glass spectacles.
Market Segmentation
Australia Eyewear Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
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
Market players are focused on providing a wide range of eyewear products that combine style, functionality, and quality to meet the needs of consumers.
- Vision Service Plan (VSP)
- Optex Australia
- Benra Pty Ltd
- PVH Brands Australia Limited
- Ozeano Pty Ltd
- Others
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product Type |
|
| Breakup by Gender |
|
| Breakup by Price Range |
|
| Breakup by Distribution Channel |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Asia Pacific Eyewear Market Overview
8.1 Key Industry Highlights
8.2 Asia Pacific Eyewear Historical Market (2018-2023)
8.3 Asia Pacific Eyewear Market Forecast (2024-2032)
9 Australia Eyewear Market Overview
9.1 Key Industry Highlights
9.2 Australia Eyewear Historical Market (2018-2023)
9.3 Australia Eyewear Market Forecast (2024-2032)
10 Australia Eyewear Market by Product Type
10.1 Contact Lenses
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Spectacles
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Sunglasses
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
11 Australia Eyewear Market by Gender
11.1 Unisex
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Women
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Men
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
12 Australia Eyewear Market by Price Range
12.1 Low
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Medium
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Premium
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
13 Australia Eyewear Market by Distribution Channel
13.1 Online Stores
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Optical Stores
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Retail Stores
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 Independent Brand Showrooms
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
14 Australia Eyewear Market by Region
14.1 New South Wales
14.1.1 Historical Trend (2018-2023)
14.1.2 Forecast Trend (2024-2032)
14.2 Victoria
14.2.1 Historical Trend (2018-2023)
14.2.2 Forecast Trend (2024-2032)
14.3 Queensland
14.3.1 Historical Trend (2018-2023)
14.3.2 Forecast Trend (2024-2032)
14.4 Australian Capital Territory
14.4.1 Historical Trend (2018-2023)
14.4.2 Forecast Trend (2024-2032)
14.5 Western Australia
14.5.1 Historical Trend (2018-2023)
14.5.2 Forecast Trend (2024-2032)
14.6 Others
15 Market Dynamics
15.1 SWOT Analysis
15.1.1 Strengths
15.1.2 Weaknesses
15.1.3 Opportunities
15.1.4 Threats
15.2 Porter’s Five Forces Analysis
15.2.1 Supplier’s Power
15.2.2 Buyer’s Power
15.2.3 Threat of New Entrants
15.2.4 Degree of Rivalry
15.2.5 Threat of Substitutes
15.3 Key Indicators for Demand
15.4 Key Indicators for Price
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Vision Service Plan (VSP)
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Optex Australia
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Benra Pty Ltd
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 PVH Brands Australia Limited
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Ozeano Pty Ltd.
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Asia Pacific Eyewear Market: Key Industry Highlights, 2018 and 2032
2. Australia Eyewear Market: Key Industry Highlights, 2018 and 2032
3. Australia Eyewear Historical Market: Breakup by Product Type (USD Million), 2018-2023
4. Australia Eyewear Market Forecast: Breakup by Product Type (USD Million), 2024-2032
5. Australia Eyewear Historical Market: Breakup by Gender (USD Million), 2018-2023
6. Australia Eyewear Market Forecast: Breakup by Gender (USD Million), 2024-2032
7. Australia Eyewear Historical Market: Breakup by Price Range (USD Million), 2018-2023
8. Australia Eyewear Market Forecast: Breakup by Price Range (USD Million), 2024-2032
9. Australia Eyewear Historical Market: Breakup by Distribution Channel (USD Million), 2018-2023
10. Australia Eyewear Market Forecast: Breakup by Distribution Channel (USD Million), 2024-2032
11. Australia Eyewear Historical Market: Breakup by Region (USD Million), 2018-2023
12. Australia Eyewear Market Forecast: Breakup by Region (USD Million), 2024-2032
13. Australia Eyewear Market Structure
Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 102.4 million.
The market is expected to grow at a CAGR of 7.9% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 204.3 million by 2032.
The market is being driven due to the growing demand for eyewear products driven by factors like the increasing exposure to blue light from digital screens, the rising rate of myopia among Australians, and the convenience of online purchases.
Key trends aiding the market expansion include rising preference for daily disposable contact lenses, introduction of affordable eyewear options, and surge in e-commerce as a primary distribution channel.
Regions considered in the market are New South Wales, Victoria, Queensland, Western Australia, and Australian Capital Territory, among others.
The distribution channels consist of online stores, optical stores, retail stores, and independent brand showrooms.
Contact lenses, spectacles, and sunglasses are considered in the report.
Key players in the market are Vision Service Plan (VSP), Optex Australia, Benra Pty Ltd, PVH Brands Australia Limited, and Ozeano Pty Ltd, among others.
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