The eyewear market includes items and accessories worn on or over the eyes. Eyewear is used for a number of reasons, for example as a fashion adornment, for lack of visual abilities, or for protection.
The three main categories of the eyewear industry indeed include:
- Contact lenses
The industry therefore includes all actors and processes involved in the design, production and retail of eyewear.
Globally, promising projections towards growth of the market are expected. The aging population and consequently development of life expectancy around the world is one of the variables responsible for the positive forecast of a growing number of people needing spectacles. In developed countries, the estimates grow even farther, with around 70% of adults in need of corrective lenses. The latter is reinforced by the rise in disposable income, which is expected to continue to push premiumization of the eyewear industry in all segments, especially among non-corrective glasses.
The Belgian market in the specific is expected to be influenced in addition by the changes in demographics, the channel proliferation (e.g. internet), and emerging fashion trends.
1.2 A global & European context
Eyewear Market Size World, ****-****, in US$ billion Source: ****
The global eyewear market was valued at close to $*** billion in ****. This is a small increase of CAGR *.*% per year since **** according to Euromonitor. The market is projected to experience strong growth of *.*% from **** to **** according to Grandviewresearch. The market is dominated ...
1.3 Domestic market
Today, the Belgian consumer points to a general lack of transparency in the offer offered by the major chains and does not understand the constant price inflation practiced in shops.
To overcome this bad reputation, the APOOB (***) and the Belgian Ministry of Economic Affairs drew up a code of good conduct ...
1.4 International Trade
Trade of Eyewear Belgium, ****-****, in € million and in % Source: ****
The graph above illustrates the trade of eyewear in Belgium. From this, it is evident that Belgium imports more eyewear than it produces and exports. Indeed, the coverage ratio (***) was **.*% in ****, which implies that imports are almost twice as large ...
2.1 Profile Analysis: The Belgian Consumer
Do you use glasses or contact lenses? Belgium, ****-****, in % Source: ****
In a study by CINT, it was revealed that the majority of Belgian respondents used glasses in **** (***), and *.*% used both glasses and lenses. A mere *.*% used lenses only. Moroever, the number of users of glasses and non-users has ...
2.2 Demand Trends
Google Trends Belgium, ****-****, in units Source: ****
The graph above represents the proportion of searches for a given term in a given region during a specified amount of time, compared to when it was the most searched (***). Thus, a value of ** means that the keyword has been used less often in ...
2.3 A complementary market
Sales of eye care Belgium, ****-*****, in € million Source: ****
The graph above illustrates the market size in Belgium for eye care products, measured through sales. Eye care is the treatment of the eyes, often through industry specialist such as opticians, optometrists, and ophthalmologists. In ****, this market was valued at €**.* million in ...
3.1 Market Overview
In Belgium, there are just over *,*** optical shops. This number is growing. One of the reasons for this growth can be explained by the ageing population, which is leading more and more people to wear glasses. In recent years, franchising has come to the forefront. According to the Professional Association of ...
Production sites of the optics market diverge, from the great leaders established in Belgium to the historical houses and the new brands and start-ups that are emerging. Depending on the range, glasses and lenses are not all manufactured in the same place.
Eyeglasses frames are typically made of either metal ...
Although the number of players make in the market is fragmented, when looking at sales we find that the market for glasses in Belgium is highly concentrated and, like in many countries in Europe, sales are dominated by EssilorLuxottica. In ****, the company further strengthened its’ position in Europe by acquiring ...
ANALYSIS OF THE OFFER
4.1 Product Analysis
Broadly speaking, the three large sectors within the eyewear industry include:
Spectacles (***) Sunglasses Contact lenses
The product offer is broad and is measured according to the different needs of the eyesight. Glasses with different types of lenses, contact lenses, sunglasses with polarizing lenses or different colors for a specific need, ...
4.2 Price Analysis
In the optical sector, price variations are large and depend on different parameters such as the type of glass, quality, place of production, and production line. The distribution channel also plays a part; spectacles can be sold in pharmacies, with opticians, in supermarkets, etc., and most of the time a retailer's ...
4.3 Supply Trends
A trend impacting both corrective and non-corrective eyewear is the progressive impact personalization has on consumer buying patterns. According to a study by Deloitte one of out of three consumers base their shopping on the ability to personalize a product. The trend is impacting all industries, and it interests in ...
RULES AND REGULATIONS
The requirements for the registration of optician activities in the Crossroads Bank of Companies are as follows:
management knowledge base sectoral professional competence
Sectoral professional competence can be demonstrated in three different ways:
a title article ** of the Royal Decree of **/**/**** determines which titles can be accepted. [***] a professional practice in ...
POSITIONING OF THE ACTORS
- Hoet Optiek
- Theo Eyewear
- Essilor Luxottica
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