In 2019, volume and value growth of eyewear not only remained strong, but slightly improved in Thailand, driven by increased demand and widening distribution to meet that demand. Shifting population and lifestyle in Thailand is leading to an increasing need for glasses.
Early in 2019, Luxottica Wholesale (Thailand) opened the first-ever dedicated Ray-Ban store in Thailand, capitalising on the popularity of the iconic brand. Located in Siam Center in the heart of Bangkok, the new store offers an extensive product assortment of styles as well as authentic Ray-Ban prescription lenses.
In 2018, the competitive landscape in eyewear remained consolidated in Thailand, with international players being the main players. Luxottica maintained its clear lead in eyewear overall, based on its continuing strength in spectacle frames and sunglasses.
Optical shops continued to lead sales of eyewear throughout the country and remained the major distribution channel for eyewear in 2019. Consumers that intend to purchase a pair of spectacles or sunglasses normally want to try on the product before making a decision.
Over the 2019-2024 forecast period, eyewear is set to see similarly strong current value and volume CAGR compared to what was seen over the review period, with a slightly higher value CAGR. Contact lenses and spectacles will once again post the highest value growth, while volume growth of less essential sunglasses will slow down somewhat due to a weakened economy and moderately increasing unit prices.
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This Euromonitor market report provides market trend and market growth analysis of the Eyewear industry in Thailand. With this market report, you’ll be able to explore in detail the changing shape and potential of the industry. You will now be able to plan and build strategy on real industry data and projections.
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This industry report originates from Passport, our eyewear market research database.
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