Spectacles was the least affected eyewear by the pandemic in 2020, though it registered double-digit current value decline all the same. In 2021, it is expected that it will register minimal current value decline.
There is a new leader on the block in 2020, with Essilor Mfg passing out Thai Hoya Lens, although “others” continued to hold a majority of retail value shares. In a fragmented competitive landscape, lower-priced, including unbranded, spectacle frames and lenses have been attracting mass consumers in Thailand.
While the COVID-19 pandemic is expected to accelerate strong retail value sales in e-commerce over 2021 as a whole, the channel’s share is set to remain tiny in spectacles at the end of the review period. Optical shops is the dominant channel, as consumers tend to value a visit to a specialist retailer for an eye test and advice and to view the wide choice of options on spectacle frames and lenses.
Spectacles is expected to register healthy constant value growth over the forecast period. Growth is expected to be highest in 2022, as pent-up demand following the pandemic will drive value growth.
As normality returns, innovation and new product developments in spectacle lenses and frames are expected to boost the value sales over the forecast period. Increasing digital work will have an impact on eye health.
The need for eyewear products like spectacles is expected to be heightened by the ageing population trend, but also modern lifestyles and the increasing digitalisation of work and leisure. In terms of digitalisation, the growing use of electronic devices like PCs, smartphones, tablets and video games hardware and software is set to increase the demand for spectacles due to blue light exposure and increasing eye strain.
Files are delivered directly into your account soon after payment is received and any tax is certification is verified (where applicable).
Understand the latest market trends and future growth opportunities for the Spectacles industry in Thailand with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Spectacles industry in Thailand, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
This report originates from Passport, our Spectacles research and analysis database.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE! Home Page