Brazilian market
The eyewear market in Brazil
The eyewear market includes items and accessories used on the eyes. Eyewear is used for a number of reasons, among the most common being use as a fashion statement, for lack of visual ability or for protection.
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The eyewear market includes items and accessories used on the eyes. Eyewear is used for a number of reasons, among the most common being use as a fashion statement, for lack of visual ability or for protection.
The three major categories in the eyeglass industry are :
Eyeglasses
Sun shades
Corrective lenses
The industry therefore includes all players and processes involved in the design, production and marketing of glasses. Worldwide, promising projections for market growth are expected. An aging global population and consequently the rise of life expectancy throughout the world is one of the variables responsible for the positive forecast of a growing number of people who need glasses. In developed countries, estimates grow even more, with about 70% of adults requiring corrective lenses. The latter is reinforced by the increase in disposable income, which is expected to continue to drive high-end segments of the eyeglass industry, especially among glasses bought without medical need (for fashion i.e.).
According to Abióptica (Brazilian Optical Industry Association), the sector has shown an admirable growth in the last 10 years, mainly due to the insertion of fashion in the sale of glasses. From 2006 to 2017, the increase was 172% in the segment's sales. The growth of optics in Brazil follows a worldwide trend, a consequence of population aging and human behavior in digital reality.
The biggest obstacles for those operating in this market are counterfeits, since, annually, the illegal volume of business is almost the size of the formal market's performance (more than 45% of the total sold). Even so, for health reasons and fast-fashion advances, the segment has promising perspectives in the short, medium and long term, with a growth of 20% per year until 2021.
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