India Eyewear Market Overview, 2028

India Eyewear Market Overview, 2028

Eyewear in India is an integral part of everyday life. With a population of over 1.3 billion people, there is a growing demand for eyewear that is not only functional but also affordable, stylish, and diverse. From traditional eyewear to modern designs, India offers a wide range of options to meet the needs of its diverse population. Furthermore, one of the unique aspects of eyewear in India is the traditional eyewear like kadas and chashmas. These are typically made from materials like wood or bamboo and are believed to have healing properties. Kadas are a type of round eyeglasses that have been used in India for centuries. They are typically worn by elders or religious figures and are often decorated with intricate designs or patterns. Moreover, another type of traditional eyewear that is still used in India is chashmas, which are thick-rimmed glasses that were traditionally used to protect the eyes from the bright sun. Nowadays, they are more commonly used as reading glasses or by people who spend a lot of time in front of screens. In addition, one of the most significant benefits of modern eyewear is the ability to correct vision problems. With a high prevalence of eye diseases like cataracts and glaucoma, there is a growing awareness of the importance of eye health in India. People are paying more attention to the quality of their eyewear and the impact it can have on their eyes.

According to the research report ""India Eyewear Market Overview, 2028,"" published by Bonafide Research, the India Eyewear market is expected to grow at around 7.5% CAGR from 2023 to 2028. The increase in disposable income in India has led to an increase in consumer spending on lifestyle products, including eyewear. People are willing to invest in quality eyewear that not only corrects their vision problems but also reflects their personal style. Furthermore, with the rise of digital devices like smartphones, laptops, and tablets, people are spending more time in front of screens. This has led to an increase in eye strain and related problems, such as dry eyes and blurred vision. As a result, there is a growing demand for eyewear with lenses that protect against blue light and reduce eye strain. Moreover, India is a popular tourist destination, with millions of people visiting the country every year. Tourists often require eyewear solutions, either as a fashion accessory or to correct their vision problems. This has led to an increase in demand for eyewear among the tourist population. In addition, Many Indian eyewear brands are offering online customization options that allow customers to personalize their glasses with unique designs and colors. This has made eyewear more accessible and appealing to a younger, tech-savvy audience.

Based on product type, this market can be segmented into spectacles, sunglasses, contact lenses, and others. The Spectacles segment was estimated to hold a major share of the overall market in 2022. Spectacles are primarily used as a corrective measure for various vision problems, such as nearsightedness, farsightedness, and astigmatism. They can also be customized to correct different degrees of vision impairment, making them a popular choice for people of all ages. Furthermore, in India, wearing spectacles is often seen as a symbol of intelligence and knowledge, and many people wear them as a fashion accessory even if they do not have a vision problem. This cultural norm contributes to the high demand for spectacles in the Indian market. However, contact lenses have the highest CAGR during the forecast period. Contact lenses can also be used to change the colour of the eyes or enhance their natural colour, making them a popular fashion accessory. Furthermore, contact lenses are often prescribed for people with certain medical conditions, such as keratoconus or corneal injuries, and the increasing prevalence of these conditions in India is driving demand for contact lenses.

When it comes to distribution channels in the US eyewear market, optical stores have the largest market share. Optical stores have built a strong reputation and trust among consumers for providing quality products and personalized service. Furthermore, optical stores typically offer after-sales services such as adjustments, repairs, and replacements for eyewear products, which help to build customer loyalty. For instance, some popular optical store chains for eyewear in India include Lenskart, Titan Eye Plus, Vision Express, GKB Opticals, Lawrence & Mayo, Specsmakers, Himalaya Optical, Sunglass Hut, Bausch + Lomb Eyewear, Cleardekho, Eye Q, Vasan Eye Care, Coolwinks, Opticals Unlimited, 20-20 Optical, and more. Furthermore, the online distribution channel is experiencing the highest CAGR during the forecast period. Online eyewear retailers offer the convenience of shopping from home, which is especially appealing to busy consumers who do not have the time to visit traditional brick-and-mortar stores. Furthermore, online retailers are leveraging technology advancements such as virtual try-ons and 3D scanning to enhance the shopping experience for consumers, thereby driving their growth. For instance, some popular online channels where eyewear is sold in India include Amazon, Flipkart, Myntra, Jabong, Snapdeal, Paytm Mall, ShopClues, Ajio, Tata CLiQ, Koovs, Limeroad, Nykaa Fashion, Voonik, Zivame, Firstcry, and more.

The Indian eyewear market based on gender is segmented into men, women, and unisex. The unisex segment has the highest market share in the Indian eyewear market based on gender. This is because unisex eyewear caters to both men and women, and the design and style of the eyewear are versatile enough to appeal to a broad customer base. Furthermore, the kids' segment has the highest CAGR in the Indian eyewear market. This is because the demand for eyewear for children has been increasing in recent years, with parents becoming more aware of the importance of eye health for their children. Additionally, the rise in digital devices' usage and exposure to screens has also led to an increase in eye problems among children, leading to a higher demand for eyewear. The Indian eyewear market is segmented based on price range, and the medium-price segment has the highest market share. Eyewear in the medium price range offers a wide range of options, including both branded and non-branded eyewear products. Consumers in India are increasingly brand conscious, and many popular eyewear brands offer products in the medium price range, which are affordable for a large segment of the population. Furthermore, the premium eyewear segment in India is seeing the highest CAGR during the forecast period. As the Indian economy grows, there is an increase in the number of affluent consumers who are willing to pay a premium for high-quality eyewear products. Additionally, the premium eyewear segment offers products that are exclusive and cater to the growing demand for luxury and designer eyewear in India.

Despite the growing awareness about the importance of eye health, many people in India still lack awareness about the benefits of using eyewear. Additionally, affordability remains a significant concern, as many people in India cannot afford quality eyewear products. Moreover, the presence of counterfeit eyewear products in the market is a significant challenge for the eyewear industry in India. Counterfeit products not only pose a risk to the health of consumers but also negatively impact the revenue of established eyewear brands. Consumers may unknowingly purchase fake products that do not provide adequate eye protection or may cause eye strain and other eye problems. Moreover, the eyewear market in India faces intense competition from low-priced products, which can impact the revenue and growth of established brands. While low-priced products may appeal to price-sensitive consumers, they may not offer the same level of quality and durability as higher-priced products, which can affect customer loyalty and brand reputation.

Considered in this report
• Geography: India
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report
• India Eyewear market with its value and forecast along with its segments
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Product Type:
• Spectacles
• Sunglasses
• Contact Lenses
• Other Product Type (Eye Care)

By Distribution Channel:
• Hypermarket and Supermarket
• Speciality Stores ( Optical Stores )
• Franchises/ Company outlets
• Online stores
• Others (Hospitals & Clinics)

By Gender:
• Men
• Women
• Unisex
• Kids

By Price Range:
• Premium
• Medium
• Low
The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to Eyewear industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.