Eyewear in Australia

Positive outlook for eyewear in Australia

Eyewear in Australia experienced significant growth in both value and volume terms due to the increase in the ageing population and the prevalence of myopia and presbyopia. Increased awareness of eye health, especially with regard to the strong UV exposure in Australia, is also driving demand.

Demand for ongoing treatment lenses for myopia

The growth in lenses is attracting players to innovate and introduce cutting edge products. Due to increasing deterioration of eye health, there has been rising concern about correcting vision and protecting eyesight, giving rise to products like NaturalVue.

Global players dominate eyewear in Australia

The eyewear industry in Australia is highly competitive, with multinationals dominating and entering into new licensing agreements. Luxottica continues to lead eyewear, especially with its strategic agreements, including the EssilorLuxottica merger in 2017 and 67% acquisition of Fukui Megane Co in 2018, allowing Luxottica to produce high-quality eyewear frames without lenses along with its core strength, contact lenses manufacturing.

Optical shops remains the most important distribution channel despite a slight decrease

In line with global trends, eyewear distribution through the internet is increasing, whereas store retailing is decreasing. Optical shops remains the most significant distribution channel for eyewear in Australia, since a significant chunk of customers is aged and prefers buying spectacles in-store.

Digitalisation of eyewear products and distribution

New developments in the eyewear category are expected to be seen, especially with the introduction of Bose’s new audio-based sunglasses that allow users to stream music and access digital assistants via Bluetooth in addition to the usual functionality of protection from sunlight. Similar products, such as augmented reality glasses, are expected to appear during the forecast period.

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