Summary

The global optics market, encompassing eyewear, sunglasses, and contact lenses, was estimated at US$ 183.36 billion in 2023 with a projected growth to US$ 323.77 billion by 2030, advancing at a CAGR of 8.1% from 2020-2027. This growth is driven by an aging population, increasing incidence of visual impairments, and rising disposable incomes enabling the purchase of premium eyewear. The market rebounded with a 4.5% growth in France in 2023 over the prior year despite challenges from healthcare regulations and economic uncertainties. French demand for optical correction remained high with 75% of the population aged 16 to 75 requiring some form of eyewear in 2023. Spending on medical optics in France saw significant movement, with a year-over-year increase of 0.2% to €7.3 billion in 2022.

In terms of eyewear preference, 75% of French people opt for prescription glasses, heavily influenced by age demographics. The sunglasses sector is also booming, generating US$ 15 billion globally in 2023. Despite a contraction in manufacturing establishments and workforce in France from 2007 to 2022, the retail optician segment has seen growth in the number of establishments and employees, highlighting the industry's resilience and adaptation to market dynamics.

Market Evolution and Emerging Trends in Optical Demand

The optical market in the concerned country has been marked by a steady growth trajectory, with recent years showing a particularly positive trend. With an increase in the aging population and a rise in disposable incomes, the demand for eyewear—including prescription glasses, sunglasses, and contact lenses—has been on the uptick. In fact, the year 2023 was especially remarkable, despite the challenges posed by rising costs and potential regulatory threats. A deeper look into the demand analysis reveals that a significant proportion of the population still grapples with unaddressed or inadequately corrected vision problems. This issue becomes more pronounced with advancing age, as nearly a quarter to over a third of the population above the age of 25 experiences vision disorders. With projections indicating that about half of the global population could be myopic by 2050, a substantial increase in demand for corrective vision solutions is inevitable. In terms of product preferences, the French market shows a strong inclination towards prescription glasses, with roughly three-quarters of the population opting for them over contact lenses. It's noteworthy that the design and aesthetics of eyewear play a crucial role in consumer choice alongside price and comfort, transforming a basic necessity into a fashion statement.

For sunglasses, a market estimated to reach between 15 and 20 billion by 2026, style takes precedence for the younger demographic, whereas the general population prioritizes protective quality. The market is not only driven by fashion trends but also by economic considerations. The "reste à charge" (out-of-pocket expense) for optical items remains significantly high, meaning consumers are quite sensitive to price. This financial aspect influences the strategies adopted by market players, with some opting to emphasize their "Made in France" production to tap into the premium segment, while others leverage insourcing for cost benefits. In conclusion, the French optics market displays robust signs of growth, fueled by demographic shifts, health considerations, and fashion trends. The discerning French consumer considerations, ranging from price sensitivity to aesthetic appeal, dictate the market dynamics, as well as the strategic positioning of key players. As demands continue to evolve, the optical market is expected to adapt, offering a blend of high-quality medical devices and stylish accessories.

Landscape of Market Leaders in the Global Optics Market

In the intricate tapestry of the global optics market, several key players have established their dominance through innovation, strategic positioning, and adherence to consumer preferences. The companies mentioned above showcase a diverse market presence, from production prowess to retail specialization, each contributing uniquely to the industry's ecosystem. Here’s a closer look at these major contributors:

Luxottica: A Giant Amongst Titans Luxottica stands as a colossus in the eyewear industry, not merely due to its expansive distribution network but also because of its strong brand portfolio that includes household names like Ray-Ban, Persol, and Oakley. This Italian-based behemoth has managed to capture a significant share of the market globally, reinforcing its position as a leader in both the design and retail sectors of eyewear.
Vision Source: Pioneering Optometric Excellence Another notable entity in the field is Vision Source, primarily situated within the United States. By fostering a network of independent optometrists and leveraging their expertise, Vision Source ensures that it strikes a crucial balance between professional eye care and commercial optical retailing, thereby addressing a comprehensive range of consumer needs.
Polette: The Modern Visionary in Eyewear Retail Emerging on the scene with a disruptive model is Polette, which has carved a niche for itself by offering an in-house production system that prides itself on affordability without conceding on style or quality. With a direct-to-consumer approach and strategic manufacturing in China, Polette has quickly become a name synonymous with contemporary eyewear trends.
Krys, Optic 2000, and Atol: The Trio of French Finesse On the front of ensuring "Made in France" remains more than just a slogan, these three companies reflect the premium segment of the eyewear market. Krys, Optic 2000, and Atol are well-known for championing high-quality production along with an emphasis on local manufacturing. Each brand appeals to those who wish to combine style with French craftsmanship in their eyewear choices.
Alain Afflelou: From Value to Virtue Alain Afflelou started as a brand that celebrated cost-effectiveness and has since transitioned towards highlighting “Made in France” products, reflecting the brand’s adaptability and its response to the growing consumer demand for traceability and locally produced goods. The brand, known for its clever marketing and expansive franchise network, continues to be a formidable player in the optics arena.

the optical market - France

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Number of pages : 30 pages
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Last update : 16/04/2024

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Summary and extracts

1 Market overview

1.1 Definition and presentation

The optics market includes items and accessories worn on the eyes. Optical equipment can be worn for a variety of reasons, but among the most common are use as an accessory, to correct visual disorders or to protect the eyes. The three largest categories in the eyewear industry are:

Eyewear ;
Sunglasses;
Contact lenses.

The optical industry thus encompasses all the players and processes involved in the design, production and sale of the aforementioned items. On a global level, the market's growth prospects are very promising, with a growth rate of 8.5% between 2023 and 2030. The aging of the population and the evolution of life expectancy around the world mean that the number of people needing eyeglasses or contact lenses is set to rise. This upward trend is also reinforced by rising disposable incomes, which should continue to drive the premiumization of the eyewear industry in all segments, especially non-corrective lenses.

The market has been affected by the health crisis, with store closures and confinements. However, the optical market is a consolidated one, and despite sales declines in 2020 for many brands, there is little doubt that this vital market will recover.

While many high-end French manufacturers are performing well on the export market, many local retailers are in fierce competition with each other.

2023 was a record year for the optical sector in France (4.5% growth over 2022), and 2024 is full of challenges: rising costs, falling consumer purchasing power, the threat of the PLFSS, low wages for employees in the sector...

2 Demand analysis

3 Market structure

4 Offer analysis

5 Regulations

6 Positioning the players

6.1 Optical market segmentation

Polette
Optique E.Leclerc
Lunettes pour tous
Otiko
Mister Spex
GrandVision
Optic 2000
MB production
Optical Center
Coffignon
Marcolin (LVMH Groupe)
Essilor Luxottica groupe
Afflelou
Krys Group
Kering Eyewear
Générale d'optique (GrandVision)
Direct Optic (Acuitis Groupe)
Easy Verres
Easy Lunettes
MyMonture
L'Opticien qui bouge
Optique Lafayette (Laf Santé Groupe)
Optical Discount
Lissac (Optic 2000)
Thélios (LVMH Groupe)
Fittingbox

List of charts

Optical market size
Proportion of the population wearing glasses and contact lenses
Optical market value
Medical optics consumption
Structure of optical spending
Vision disorders by age category
Occasions requiring eyeglasses
Eyewear selection criteria
The French and optical equipment
Do you wear corrected sunglasses?
Sunglasses selection criteria
Where to buy sunglasses
Number of establishments under code 32.50B
Workforce under code 32.50B
Number of establishments under code 47.78A
Employees under code 47.78A
Optical retail market share: in stores and in sales
Foreign trade in optics
Main countries supplying optics by value
Main optics customer countries by value
Reasons for wearing contact lenses
Average price paid for eyeglasses
Average cost of sunglasses
Consumer price index for medical optics
Margin rate for optical products
Place of purchase
The pros and cons of buying glasses online

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Latest news

BBGR boosts Seine-et-Marne capacity by 30% to keep pace with growth in Nikon optical lenses - 30/03/2024

- BBGR is a subsidiary of EssilorLuxottica.
- The company has specialized in optical lenses for over 170 years.
- BBGR will increase capacity at its Provins site by 30% from April.
- The Provins site employs 235 people.
- The aim of this capacity increase is to meet strong demand for Nikon lenses, produced at Provins since 2016.
- Since 2016, volumes of Nikon lenses manufactured at Provins have increased 15-fold.

Krys Group puts the finishing touches to the modernization of its Bazainville plant - 08/03/2024

-Investment in expansion and modernization program: 23 million euros
- Post-renovation manufacturing capacity increase: 30%
- Planned production capacity: 1.8 million units per year
- Krys Group sales in 2023: €1.265 billion
- Number of associates: around 900, representing 1,600 points of sale
- Supplying around a thousand independent opticians
- Krys Group plans to open 400 additional stores by 2028.

EssilorLuxottica passes the €25 billion sales mark - 15/02/2024

In 2023, the company spent 1.7 billion euros on R&D between 2020 and 2022, in particular to develop connected and/or hearing glasses. Before the summer, the company will inaugurate an optics laboratory (300 employees) in Wissous (Essonne). In the second half of 2024, its first hearing glasses will be marketed in the United States.
The product potentially concerns the 1.25 billion people affected by mild hearing loss.
To integrate a miniature hearing aid into a pair of glasses, the company acquired the Israeli start-up Nuance in 2022.
Its brand portfolio has expanded to include Moncler, Jimmy Choo, Brunello Cucinelli and Ferrari licenses.
18,000 directly-operated stores in 150 countries, including 1,000 in France.

Krys group: innovations for the ecological transition - 06/02/2024

Codir, a subsidiary of Krys Group, grouping together its industrial and logistics activities, will produce 1.4 million lenses by 2021
The subsidiary employs 330 people
Krys Group generates sales of 1.2 billion euros, and has 1,533 stores in France, as well as around 50 in Belgium, Poland and Morocco.
With its two other banners, Le Collectif des lunetiers and Lynx Optique, the Group has a 16.5% market share in France.
Its ambition is to open a further 400 outlets by 2028.
Over the past ten years, it has expanded into the hearing sector, with 277 centers.

EssilorLuxottica integrates a hearing aid into its glasses - 09/01/2024

Launch of "Nuance" glasses that act as hearing aids.
Microphones camouflaged in the frames enable the wearer to concentrate on and amplify the voice of the person speaking
First equipment with virtually invisible hearing aids
While 1.6 billion people worldwide suffer from hearing loss, this figure is expected to rise to 2.5 billion by 2050
Nuance Audio glasses, which will be available in three models, will be sold by hearing aid practitioners, in EssilorLuxottica's distribution network (18,000 stores) and on the Internet.
Acquisition of Israel-based Nuance Hearing, which has developed a small tabletop device that amplifies sound

Afflelou innovates: discount, private labels and teleconsultation - 04/12/2023

Brand stores grew by 5% in the fiscal year to July 31, to 876 million euros, of which 64% in France, 26% in Spain and 10% in other countries such as Switzerland and Belgium.
In France, performance in the optical sector was 6.4%, outperforming the market, which grew by 4.1%.
The family increased its shareholding to 30% with the purchase of the Apax Partners fund's stake.
Optical eyewear accounts for 92% of sales, while hearing aids account for just 8%.
Of the group's 1,440 outlets, 510 are equipped with a dedicated hearing aid area.
The company has set up teleconsultation booths in 180 stores, with 10,000 teleconsultations to be carried out by 2023.
Prescription optical sales account for 82% of business.
An identified potential of 150 new units in France and 75 in Spain, and an increase of 45 openings in one year.
Afflelou's own-brand products already account for 60% of the offering.

Companies quoted in this study

This study contains a complete overview of the companies in the market, with the latest figures and news for each company. :

Polette

Optique E.Leclerc

Lunettes pour tous

Otiko

Mister Spex

GrandVision

Optic 2000

MB production

Optical Center

Coffignon

Marcolin (LVMH Groupe)

Essilor Luxottica groupe

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