Sales of eye care are in decline, down by 7% in 2020, compared to positive growth of 7% in the previous year. While the underlying drivers for eye care are still present, demand fell in the short term as a result of the pandemic, partly due to the absence of cross border trade from mainland Chinese tourists, and partly due to a decrease in internal demand.
There is also a groundswell of interest in natural treatments and preventatives in eye care, with many consumers looking to supplements aimed at healthier eyes rather than at treating sore eyes. Indeed, trade sources confirm that in Hong Kong, eyes are the leading body part for VDS supplements, and eye supplements are usually the first type of body-part specific supplement new consumers try.
Rohto Pharmaceutical continued to lead in eye care and to be well received, as Hong Kongers desire Japanese products because of their high level of safety and high production standards. The company has been active in new product launches: in mid 2019, Rhoto launched eye drops under its sub brand Lychee to target younger consumers who wear coloured and normal contact lenses, to ease pain and to protect the cornea.
Following decline in 2020, positive growth is expected from 2021, continuing throughout the forecast period, with a current value CAGR of 5% predicted. The underlying demand for eye care remains high due to notable levels of eye problems in this market, which are due to the population’s hectic lifestyles and the city’s poor air quality.
Standard eye care sales are highly driven by symptoms such as itchy and watery eyes caused by pollution and tiredness. Hong Kong consumers are shifting towards prevention instead of treatment when dry eye conditions arise, a trend that is expected to pick up pace over the forecast period.
Eye-related problems are becoming an increasing concern to Hong Kong parents. According to a study conducted by the University of Hong Kong, one in every six children in Hong Kong suffers from eye irritation because of air pollutants and fatigue from screen exposure.
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Understand the latest market trends and future growth opportunities for the Eye Care industry in Hong Kong, China with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This report originates from Passport, our Eye Care research and analysis database.
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