Eyewear in Singapore

Eyewear industry continues showing positive growth in 2019

The eyewear industry in Singapore continued to record growth in 2019 due to the high rates of myopia and presbyopia as well as increased concerns about proper eye care. With the government’s initiatives to increase awareness of managing myopia and long hours in front of digital devices, consumers are becoming more willing to spend more on proper eyewear.

Demand driven by increasing prevalence of myopia and presbyopia

One of the growth drivers in eyewear in Singapore is the high rate of myopia and an ageing population. Increased focus is placed on strategies to slow the progression of myopia in children, such as encouraging parents to have their children spend more time outdoors and regular breaks from close-up visual tasks and pastimes.

Local disruptors will be driving down unit prices in the forecast period

Multinational corporation Luxottica still leads in terms of value sales in the eyewear industry. Even though the market is dominated by big players, growing demand for more affordable lenses and spectacle frames is being seen.

Optical shops providing customers with more holistic experience

Optical shops is still the dominant channel for eyewear in Singapore. Consumers still enjoy the one-stop convenience of doing their eye tests, trying on eyewear and getting it fitted in one place.

Outlook for eyewear remains positive in the forecast period

Even with the government’s vested interest in curtailing rising myopia rates in Singapore, industry sources agreed that this is often not the parents’ top priority for their children. Communicating with and educating parents on the prevention of early childhood myopia is a gap yet to be bridged.

Files are delivered directly into your account within a few minutes of purchase.