While eyewear in Argentina is poised to record high double-digit growth in total current value sales in 2023, this is because the country’s longstanding problems with inflation have worsened considerably due to the combined impact of the global recovery from the pandemic and Russia’s invasion of Ukraine. With skyrocketing inflation eroding purchasing power and causing unit prices to rise sharply, many people have postponed ophthalmological examinations and updating their spectacle lenses and frames.
Contact lenses is the only one of the main eyewear categories in Argentina projected to expand in volume terms in 2023. Its comparatively resilient performance in this regard is partly explained by the fact that it has so far not experienced the kind of supply shortages that have plagued other areas of the market.
Essilor looks set to maintain its overall lead in eyewear in Argentina in value sales terms in 2023, with Luxottica placing second. These players are among those most affected by supply shortages caused by import restrictions, hence it is expected some of their brands will lose ground in certain categories over the course of the year, or record slower value share gains than they did earlier in the review period.
Optical goods stores continue to dominate eyewear distribution in Argentina, claiming the lion’s share of value sales in all of the main market categories. This channel remains highly fragmented, being mainly represented by independent family-owned outlets that have been in business for several years.
Eyewear in Argentina looks set to perform reasonably well over the forecast period. While total current value sales growth will be skewed by the country’s long running problems with high inflation, most categories are projected to expand steadily in volume terms thanks to favourable demographic factors – most notably population ageing – and the rising incidence of vision problems linked to more time spent staring at digital screens.
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Understand the latest market trends and future growth opportunities for the Eyewear industry in Argentina with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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Eyewear
Eyewear is the aggregate of contact lenses, spectacles and sunglasses.
See All of Our DefinitionsThis report originates from Passport, our Eyewear research and analysis database.
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