Executive Summary

Jul 2019
Spectacles continues to dominate sales of eyewear due to image-conscious Filipinos

Eyewear in the Philippines continued to be dominated by spectacles in 2019, or more specifically spectacle frames. Contact lenses and solutions continued to be challenged by stronger demand and growth for spectacles as image-conscious Filipinos displayed an ongoing appreciation for the sophistication that fashionable eyewear can offer them.

Social media plays increasingly important role in education as well as promotion

Social media is playing a stronger role in promoting the benefits of taking care of one’s eyes, not only through advertising various products but also as a valuable tool to reach consumers. Company websites, such as the one from leading eyewear player Essilor, not only display eyewear ranges, but also offer advice on various ways that consumers can protect their eyes through links to written articles or small embedded video clips such as “How to achieve better eye health” or Is UV light dangerous for your eyes?” Essilor’s Facebook page allows greater interaction with consumers with videos on how to “Pledge to exercise your eyes regularly”, while appealing to younger consumers with posters of millennials wearing fashionable spectacles with inspirational wording such as “live free, move free”.

Essilor strengthens leadership of highly fragmented landscape

Essilor International SA continued to strengthen its overall leadership of a highly fragmented competitive landscape within eyewear in 2018, with brands Varilux and Crizal leading the largest category of spectacles. Due to the fragmented nature of the market, consumers are able to enjoy the availability of a wide range of options as repeat purchases of eyewear are highly possible.

Optical stores dominates, but smaller distribution channels gain share

Optical shops continued to dominate distribution of eyewear in 2019 in the Philippines, especially within contact lenses, which tend to be frequented more by middle-aged and older consumers who are comfortable with the traditional way of purchasing eyewear. However, the channel’s value share continued to be slowly eroded with the increasing number of distribution channels offering spectacles and sunglasses such as department stores and bags and luggage specialist retailers.

Positive performance for eyewear supported by ongoing demand for fashionable spectacles and sunglasses

Eyewear is predicted to continue to record stable demand over the forecast period, supported by the ongoing trend for fashionable spectacles, but driven by the stronger performance of sunglasses as an essential accessory. However, greater innovation from players is required for the overall market to record stronger sales, as more traditional practices and technological devices are hampering growth for the industry, especially in such a fragmented competitive landscape.

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Eyewear in the Philippines

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This Euromonitor market report provides market trend and market growth analysis of the Eyewear industry in Philippines. 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.

The Eyewear in Philippines market research report includes:

  • Analysis of key supply-side and demand trends
  • Detailed segmentation of international and local products
  • Five year forecasts of market trends and market growth  
  • Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

  • How are sales of contact lenses performing compared to spectacles?
  • What’s the growth potential for emerging retail channels in eyewear?
  • How are demographic changes impacting the industry in Philippines?

Why buy this report?

  • Gain competitive intelligence about market leaders
  • Track key industry trends, opportunities and threats
  • Inform your marketing, brand, strategy and market development, sales and supply functions

This industry report originates from Passport, our eyewear market research database.

Each report is delivered with the following components:
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Market statistics: Excel workbook

Eyewear in the Philippines

EXECUTIVE SUMMARY

Spectacles continues to dominate sales of eyewear due to image-conscious Filipinos
Social media plays increasingly important role in education as well as promotion
Essilor strengthens leadership of highly fragmented landscape
Optical stores dominates, but smaller distribution channels gain share
Positive performance for eyewear supported by ongoing demand for fashionable spectacles and sunglasses

MARKET DATA

Table 1 Sales of Eyewear by Category: Volume 2014-2019
Table 2 Sales of Eyewear by Category: Value 2014-2019
Table 3 Sales of Eyewear by Category: % Volume Growth 2014-2019
Table 4 Sales of Eyewear by Category: % Value Growth 2014-2019
Table 5 NBO Company Shares of Eyewear: % Value 2014-2018
Table 6 LBN Brand Shares of Eyewear: % Value 2015-2018
Table 7 Distribution of Eyewear by Format: % Value 2014-2019
Table 8 Forecast Sales of Eyewear by Category: Volume 2019-2024
Table 9 Forecast Sales of Eyewear by Category: Value 2019-2024
Table 10 Forecast Sales of Eyewear by Category: % Volume Growth 2019-2024
Table 11 Forecast Sales of Eyewear by Category: % Value Growth 2019-2024

DEFINITIONS

SOURCES

Summary 1 Research Sources

Contact Lenses and Solutions in the Philippines

HEADLINES

PROSPECTS

Contact lenses continues to record slow progress with preference for fashionable spectacles
New launches and greater education to support sales
Internet retailing can benefit from repeat purchases

COMPETITIVE LANDSCAPE

Novartis strengthens leadership of contact lenses through consumer loyalty and discounts
Social media promotions support strong growth of contact lenses
Innovation and discounts are most successful strategies to attract consumers

CATEGORY DATA

Table 12 Sales of Contact Lenses by Category: Volume 2014-2019
Table 13 Sales of Contact Lenses by Category: Value 2014-2019
Table 14 Sales of Contact Lenses by Category: % Volume Growth 2014-2019
Table 15 Sales of Contact Lenses by Category: % Value Growth 2014-2019
Table 16 Sales of Contact Lens Solutions: Value 2014-2019
Table 17 Sales of Contact Lens Solutions: % Value Growth 2014-2019
Table 18 Sales of Contact Lenses by Type: % Value 2014-2019
Table 19 Sales of Daily Disposable Lenses (DD) by Material: % Value 2014-2019
Table 20 Sales of Daily Disposable Lenses (DD) by Condition: % Value 2014-2019
Table 21 Sales of Frequent Replacement Lenses (FRP) by Material: % Value 2014-2019
Table 22 Sales of Frequent Replacement Lenses (FRP) by Condition: % Value 2014-2019
Table 23 NBO Company Shares of Contact Lenses: % Value 2014-2018
Table 24 LBN Brand Shares of Contact Lenses: % Value 2015-2018
Table 25 Distribution of Contact Lenses by Format: % Value 2014-2019
Table 26 Distribution of Contact Lens Solutions by Format: % Value 2014-2019
Table 27 Forecast Sales of Contact Lenses by Category: Volume 2019-2024
Table 28 Forecast Sales of Contact Lenses by Category: Value 2019-2024
Table 29 Forecast Sales of Contact Lenses by Category: % Volume Growth 2019-2024
Table 30 Forecast Sales of Contact Lenses by Category: % Value Growth 2019-2024
Table 31 Forecast Sales of Contact Lens Solutions: Value 2019-2024
Table 32 Forecast Sales of Contact Lens Solutions: % Value Growth 2019-2024

Spectacles in the Philippines

HEADLINES

PROSPECTS

Mid-income consumers search for convenience and affordability from one-stop shops
Retailers explore expansion opportunities both store-based and online
Wide range of promotional strategies needed to attract consumers

COMPETITIVE LANDSCAPE

Essilor continues to lead lenses due to specialisation, while Luxottica offers luxury frames
Owndays attracts younger audience through social awareness programme
Digital devices offer further potential to lenses players

CATEGORY DATA

Table 33 Sales of Spectacles by Category: Volume 2014-2019
Table 34 Sales of Spectacles by Category: Value 2014-2019
Table 35 Sales of Spectacles by Category: % Volume Growth 2014-2019
Table 36 Sales of Spectacles by Category: % Value Growth 2014-2019
Table 37 Sales of Spectacle Lenses by Type: % Value 2014-2019
Table 38 NBO Company Shares of Spectacles: % Value 2014-2018
Table 39 LBN Brand Shares of Spectacles: % Value 2015-2018
Table 40 Distribution of Spectacles by Format: % Value 2014-2019
Table 41 Forecast Sales of Spectacles by Category: Volume 2019-2024
Table 42 Forecast Sales of Spectacles by Category: Value 2019-2024
Table 43 Forecast Sales of Spectacles by Category: % Volume Growth 2019-2024
Table 44 Forecast Sales of Spectacles by Category: % Value Growth 2019-2024

Sunglasses in the Philippines

HEADLINES

PROSPECTS

Travel and outdoor activities encourage purchases of multiple pairs of sunglasses
Local celebrities partner with optical shops for promotion of sunglasses
The search for niche and affordable brands amongst some consumer segments

COMPETITIVE LANDSCAPE

Leader Luxottica loses share to smaller brands
Local player Sunnies by Charlie Inc continues to gain ground on leader
Fly Shades partners UAAP to launch new sunglasses

CATEGORY DATA

Table 45 Sales of Sunglasses: Volume 2014-2019
Table 46 Sales of Sunglasses: Value 2014-2019
Table 47 Sales of Sunglasses: % Volume Growth 2014-2019
Table 48 Sales of Sunglasses: % Value Growth 2014-2019
Table 49 NBO Company Shares of Sunglasses: % Value 2014-2018
Table 50 LBN Brand Shares of Sunglasses: % Value 2015-2018
Table 51 Distribution of Sunglasses by Format: % Value 2014-2019
Table 52 Forecast Sales of Sunglasses: Volume 2019-2024
Table 53 Forecast Sales of Sunglasses: Value 2019-2024
Table 54 Forecast Sales of Sunglasses: % Volume Growth 2019-2024
Table 55 Forecast Sales of Sunglasses: % Value Growth 2019-2024

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