Myopia among Australians is expected to reach 29% of the entire population by 2028, a concerning statistic for the eye health of local consumers. Myopia is also starting to affect consumers from an earlier age, meaning that the need for corrective spectacle lenses will impact the youngest generations of Australians.
Inflation reaching its highest ever levels in Australia in decades and a looming economic recession, mean that local household budgets are suffering. While consumers who need spectacles will likely still purchase these eyewear products, their spending habits will change.
In the current economic climate, offering affordable fashion and style will be vital for category players. While price is typically the main driver of choice, brands should be able to differentiate their products from others considered economical.
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Understand the latest market trends and future growth opportunities for the Spectacles industry in Australia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Spectacles industry in Australia, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Spectacles
This is the aggregation of spectacle frames, spectacle lenses and readymade reading glasses.
See All of Our DefinitionsThis report originates from Passport, our Spectacles research and analysis database.
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