The eyewear market - Belgium

The global eyewear market, valued at around $138 billion, is expected to enjoy robust growth, with a projected annual growth rate of 8.1% from 2020 to 2027, driven mainly by an aging population, rising disposable incomes and fashion trends. Despite relatively low eyewear penetration in Belgium, the Belgian market anticipates growth due to demographic changes and the rise of e-commerce, where online sales have climbed by 17%. The Belgian market, made up of over 2,000 optical stores, is strongly influenced by major players such as EssilorLuxottica and GrandVision, and has seen prices rise by 10%. Technological impacts on vision and a potential increase in the need for vision correction also point to a rise in demand. In commercial terms, Belgium imports more eyewear than it exports, with a coverage rate of 53.9%.

Dynamics and trends in the Belgian eyewear market

In recent years, the Belgian eyewear market has witnessed significant changes and trends that paint a picture of an industry in transition. Demand for eyewear in Belgium has revealed a population increasingly dependent on glasses, with 44.9% of those surveyed in a CINT study saying they use them. Interestingly, the number of people using both glasses and contact lenses saw a slight decline, while those relying solely on glasses saw an increase.

This consumer behavior aligns with the wider European trend where a substantial proportion of the population, particularly in countries like Slovakia, are spectacle users, pointing to wider acceptance and, potentially, a greater need for visual aids. As technology advances, there is growing concern about the health consequences of prolonged screen time leading to visual defects such as myopia. This, combined with an aging population, which is expected to rise from around 18.81% to over 22.34% of people aged 65 or over between 2018 and 2030, points to a growing demand for eyewear.

While the penetration rate of spectacles in the Belgian market remains relatively low (around 40%), we can expect demographic change and the technological impact on eye health to catalyze market growth. Interestingly, consumer preferences for contact lenses have also been reflected in aesthetic desires, with a penchant for blue-colored lenses, as indicated by the preferences of around 20-26% of the population. This suggests an opportunity for diversification in the contact lens segment, where aesthetics play a notable role in consumer choice, alongside functionality. Notably, Google Trends' analysis of demand trends illustrates seasonal fluctuations, with high interest in eyewear searches peaking in summer, which is largely attributed to the increased need for sunglasses. Search interest also peaks during the festive season, indicating that eyewear is purchased as a gift or takes advantage of seasonal sales.

In terms of market structure, Belgium boasts over 2,000 optical stores, with a growing trend towards franchising. The majority of eyewear sales are still in the hands of independent entrepreneurs, who account for around 60% of the sector. However, the influence of large conglomerates such as EssilorLuxottica, following the acquisition of GrandVision, is notable, with a steadily expanding European footprint. On the production side, the "Made In" movement has gained momentum, with companies emphasizing local sourcing and production of eyewear, aligning themselves with consumers.

Key players in the Belgian eyewear market: Navigating the competitive landscape The Belgian eyewear market is a dynamic and competitive field, with several important players influencing its structure and consumer choice. Let's delve into the landscape and highlight some of the key market players who shape the way Belgians see the world.

• LuxotticaEssilor - The giant at the helm The giant LuxotticaEssilor occupies a prominent place in the eyewear industry. It is a titanic amalgam resulting from the merger of Italy's Luxottica, known for its elegant frames and vast portfolio of brands including Ray-Ban and Oakley, and France's Essilor, renowned for its high-quality lens technology. Together, these behemoths create an entity that not only occupies a prominent place in Belgium, but also exerts a formidable influence on a global scale.
• GrandVision - Global players with local impact GrandVision is a major global player in the Belgian market. Following its acquisition by the LuxotticaEssilor group, GrandVision has further strengthened its market position. It includes well-known retail brands such as Pearle and GrandOptical, which have become familiar names on Belgian streets.
• Afflelou - The French touch in Belgium With French roots, Afflelou is another transnational player in the field, offering an extensive range of eyewear. With a strategic assortment that caters for different price categories, Afflelou extends its offer from inexpensive frames to more upscale options, guaranteeing a match for all wallets and preferences.
• Hoet Optiek - The local virtuoso On the local front, Hoet Optiek deserves a mention for its specialist position in the Belgian market. By focusing on innovative designs and customized solutions, Hoet Optiek brings a more personalized touch to those looking for unique eyewear that stands out from the mass market offerings.
• Theo - spearheading e-commerce with vision Theo is an interesting brand that has made a name for itself, particularly in the e-commerce arena. Aware of the growing preference for online shopping, Theo has succeeded in combining the convenience of e-commerce with the personalized service that eyewear consumers seek, proving itself to be a forward-thinking player in the digital space.

All these players, from giants to local champions, form a fascinating market mosaic that offers Belgian consumers a palette of choices. Whether it's the luxury of a designer frame, the need for precision lenses or a pair of spectacles, Belgian consumers are spoilt for choice.

Inforamtion

• Number of pages : 30 pages
• Format : Digital and PDF versions
• Last update : 26/11/2021

Summary and extracts

List of charts

• Eyewear Market Size
• How many people (approximately) wear spectacles?
• Do you use glasses or contact lenses?
• How often do you visit/consult with an optometrist/opthalmologist (eye doctor)?
• Share of population aged 65 and above
• When thinking of beauty, which eye colour do you prefer?
• Google Trends
• Google Trends
• Number of opticians in selected countries
• Trade of Eyewear
• Export destinations for eyewear
• Origin of eyewear imports
• Main destinations for exports
• Main origins of imports
• Sales of eye care