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Growth reported in European optics market

Market research company GfK reports over a 4% rise

Growth reported in European optics market

The optics market across Europe grew by more than 4% during the first half of 2015, taking total turnover to €8.1bn, according to market research company GfK.

A similar growth trend in the contact lens market has been recorded across Asia, more specifically within China, Malaysia, Singapore, South Korea and Taiwan, taking turnover to €431m, GfK confirmed.

The market research company’s optical reports track the sales data of sunglasses, frames, spectacles lenses and contact lenses, as well as their associated care products.

Analysing the first half of the year within the optics market in Europe, GfK revealed that the spectacles frames and lenses category, which presents 80% of the current market, has grown by 5.3%.

Furthermore, the value of the contact lens market, which represents 10% of overall market, increased by 2.9% during the same period. Following two consecutive years of a negative trend, the sunglasses market also rose by 3.6%.

Delving further into the contact lens market, GfK reported that key to the sector’s growth was silicone-hydrogel technology and that, due to the daily contact lenses segment, toric and multifocial products are “booming.”

Commenting on the market results, Gianni Cossar, global director of optics and eyewear research at GfK, said: “The positive turn seen in the sunglasses market has given a big boost to the overall optics sector.”

He added: “We witnessed a change in the internal dynamics of the eyewear business. Up until last year, the market was polarised between the highest and lowest price segments. But in the first half of this year, the luxury segment stands alone in performing by far the best. Products priced over €280, which account for 8% of the total eyewear market in value, show sales value growth of 11% compared to the first half of last year. In this respect, the eyewear market is acting very much like any other fashion market.”

Image credit: Melaine Cook