Mexico Eyewear Market Overview, 2028

Mexico Eyewear Market Overview, 2028

In Mexico, eyewear is not just seen as a functional tool to improve vision but also as a fashion accessory that can help individuals express their personality and style. This is partly due to the influence of Mexican culture, which values individualism and creativity. Furthermore, Mexican consumers often choose eyewear products that are trendy and fashionable, with unique designs and colours that stand out. For many, wearing eyewear is a way to showcase their personal style and taste, whether it's through bold and colourful frames or more subtle and understated designs. Moreover, the cultural significance of eyewear in Mexico has also led to a growing demand for customized and personalized products. Many eyewear brands in Mexico offer custom design and fitting services, allowing customers to create their own unique eyewear products that reflect their individuality and style. In addition, the high prevalence of myopia in Mexico has led to a high demand for prescription glasses in the country. Many people with myopia require corrective lenses to improve their vision and reduce the risk of developing related eye problems, such as glaucoma, cataracts, and retinal detachment.

According to the research report ""Mexico Eyewear Market Overview, 2028,"" published by Bonafide Research, the Mexico Eyewear market is expected to grow at more than 7% CAGR from 2023 to 2028. Mexico's population is growing and becoming more urbanized, which is increasing the demand for eyewear products. As more people move to cities, they are exposed to more digital screens and other factors that can contribute to the development of eye problems, such as myopia and digital eye strain. Furthermore, Mexico's middle class is growing, and with it, the disposable income of consumers. As a result, more people are able to afford higher-quality eyewear products, including premium brands and designer frames. Moreover, there is a growing awareness in Mexico about the importance of eye health, which is driving demand for products that can help protect and improve vision. This includes not only prescription glasses but also sunglasses and other eyewear products that offer UV protection. In addition, Mexico's population is relatively young, with a large proportion of the population under the age of 30. This younger demographic is more likely to be fashion-conscious and interested in trendy eyewear products, which is driving demand for fashionable and stylish frames.

In Mexico, spectacles have the highest market share compared to other types of eyewear products. Spectacles are generally easy to use and require minimal maintenance compared to other types of eyewear products, such as contact lenses. Furthermore, spectacles tend to be more affordable, which makes them accessible to a wider range of consumers. However, contact lenses had the highest CAGR in the Mexico eyewear market during the forecast period. Contact lenses offer a level of convenience that is unmatched by other types of eyewear products. They allow wearers to have a full range of vision without having to worry about the restrictions that come with wearing glasses. Furthermore, there is a growing awareness among consumers in Mexico about the benefits of contact lenses. As more people become aware of the convenience and comfort of contact lenses, the demand for these products is expected to increase.

In the Mexican eyewear market, eyewear products are typically categorized into three price ranges: low, medium, and premium. Among these, the medium-priced eyewear products have the largest market share. Medium-priced eyewear products have a wide customer base that includes both budget-conscious consumers and those who are willing to pay more for higher-quality products. However, premium-priced eyewear products are expected to have the highest CAGR during the forecast period. Mexico's growing middle and upper classes have more disposable income to spend on luxury goods such as premium-priced eyewear products. Furthermore, premium eyewear products often incorporate advanced technologies such as polarised lenses, anti-glare coatings, and adjustable frames, which can enhance the user's visual experience and comfort. Moreover, consumers in Mexico tend to be brand loyal and are willing to pay a premium price for products from well-known and trusted brands in the eyewear market.

Based on distribution channel, the market is divided into Hypermarket/supermarket, Optical store, Franchises, Online and others. Among them, optical store has highest market share in 2022. Optical stores employ trained professionals who can provide expert advice to customers on the best eyewear products to suit their needs. This helps customers make informed decisions about their purchases. For instance, some popular optical stores for eyewear in Mexico Include Devlyn Optical, Opticas Lux, Ópticas América, Multiópticas, Soloptical, Óptica López, Opticalia, Ópticas Devlyn Jr., Centro Óptico Internacional, Ópticas Kychenthal and more. Furthermore, The Mexico eyewear market based on distribution channel shows that online has the highest CAGR. With the increasing availability of the internet and the rise of e-commerce platforms, more Mexicans are shopping online, including for eyewear products. Furthermore, online retailers offer a wider selection of eyewear products, including designer brands and specialty items that may not be available in traditional brick-and-mortar stores. In addition some of the Hypermarkets and supermarkets in Mexico that sell eyewear products include Walmart, Costco, Soriana, Chedraui, Sam's Club, Superama, La Comer, Liverpool, El Palacio de Hierro, Bodega Aurrerá and mores. Unisex eyewear products can be worn by anyone, regardless of gender. This means they have a wider customer base and can appeal to both men and women. However, the kids segment in the Mexico eyewear market has the highest CAGR during the forecast period. Mexico has a relatively high birth rate, which means there is a growing population of children who require eyewear products. Furthermore, parents in Mexico are becoming more aware of the importance of eye health for their children, leading to more frequent eye exams and the need for corrective eyewear.

In Mexico, as people spend more time in front of digital screens, there is growing concern about the potential harmful effects of blue light on the eyes. Some eyewear manufacturers are now incorporating blue light blocking technology into their products to help reduce eye strain and improve visual comfort. Furthermore, AR technology is being used by some eyewear manufacturers to create virtual try-on experiences for customers. This allows customers to see how different frames will look on their faces before making a purchase, which can help increase sales and reduce returns. Moreover, 3D printing technology is being used to create customized eyewear products that are tailored to the unique needs of each individual customer. This technology allows for greater precision and accuracy in the manufacturing process and can help reduce waste and improve sustainability. In addition, some eyewear manufacturers are incorporating smart technology into their products, such as sensors that can track physical activity or measure biometric data. These smart glasses can offer a range of benefits for users, including improved fitness tracking, hands-free communication, and even augmented reality features.

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

Aspects covered in this report
• Mexico 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.