India Eyewear Market (2024-2030) | Value, Trends, Forecast, Industry, Share, Analysis, Companies, Growth, Size & Revenue

India Eyewear Market Highlights

Topics Covered in the India Eyewear Market

India Eyewear Market report thoroughly covers the market by product type, by mode of sale, and by end users. The market outlook report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

India Eyewear Market Synopsis

The eyewear market in India is experiencing substantial growth, primarily fuelled by several key drivers. One of the major drivers is the increasing awareness of eye health and the growing prevalence of refractive errors. As the use of digital devices becomes more pervasive and individuals spend extended hours in front of screens, the demand for corrective eyewear, such as prescription glasses and contact lenses, has risen significantly. However, the market is facing some major challenges such as the presence of a large unorganized sector offering low-cost and counterfeit spectacle frames. This can impact the revenue of legitimate manufacturers and lead to quality and safety concerns for consumers. Additionally, the lack of awareness about the importance of high-quality spectacle frames can limit the market`s potential. Nevertheless, the market still has huge potential to grow considerably in the country owing to the growing fashion-consciousness among consumers has led to increased demand for sunglasses and designer eyewear as style accessories.

According to 6Wresearch, the India Eyewear Market size is anticipated to grow significantly at a CAGR of 9.8% during the forecast period 2023-2029. The Indian eyewear industry report, provided by our experienced researchers, has suggested the market is estimated to hold high shares and revenues in the coming years. Numerous drivers, such as increasing awareness of eye health among the population, expansion of eyewear outlets, and rapid urbanization are proliferating the market growth.

Additionally, the increased use of digital devices is causing eye strain and vision-related issues, especially among the ageing population and youngsters, hence, the demand for corrective eyewear, including eyeglasses and contact lenses is gaining popularity. Moreover, increasing awareness about the importance of eye health has resulted in increased often eye check-ups. This has led to increased eyewear prescriptions to prevent the eyes from experiencing vision loss and eye strain. The expansion of e-commerce platforms in the country has made it easier for consumers to access their desired eyeglasses and contact lenses through convenient browsing. The India Eyewear Market growth is further supported by the expansion of organized retail and the presence of international eyewear brands. Moreover, the rise of e-commerce platforms has enabled consumers for convenient access to a wide range of eyewear products, contributing to market expansion.

COVID-19 Impact on India Eyewear Industry

There is no doubt that India eyewear market experienced a number of disruptions owing to the COVID-19 pandemic. The retail sector, with the implementation of restrictions on movement and lockdowns, led to a drastic reduction in the sale of eyewear in the country. Consumers were hesitant to visit stores on the back of safety concerns, which further affected the enormous growth of this market. During the pandemic, e-commerce emerged as a key channel as there was a surge in online eyewear purchases. Consumers in the country, turned to online platforms in order to fulfil their eyewear requirements, driven by safety as well as convenience considerations. This shift in the behaviour of consumers inspired the digital transformation of the eyewear industry. Additionally, the demand for prescription eyewear also witnessed fluctuations during the coronavirus pandemic. 

Eyewear Market in India: Key Players

The India eyewear market is a dynamic as well as rapidly evolving market, with a number of key players dominating the landscape. One of the key names in this market is Titan Company Limited, and this company operates under the brand name Titan Eyeplus. This player is known for offering a wide range of eyewear products. Another major player in the Indian eyewear industry is Luxottica India Eyewear Private Limited, which is a subsidiary of the global eyewear conglomerate Luxottica Group. Luxottica is renowned for its extensive portfolio. Lenskart Solutions Private Limited is also a major player in the market and it is widely known for its online platform, Lenskart.com. This key player offers a vast selection of eyeglasses, sunglasses, as well as contact lenses, along with innovative features such as virtual try-ons and home eye check-ups. 

Government Initiatives Introduced in the India Eyewear Market

The market growth is influenced by favourable government initiatives. One of them is the Bureau of Indian Standards (BIS) sets standards for various types of products, under which many companies are expected to adhere to quality and safety specifications with the purpose of meeting the needed optical and safety standards. The Consumer Protection Act, of 2019, facilitates mechanisms & criteria for consumers to seek redressal for issues related to product quality and safety, including eyewear. Startup and Entrepreneurship Promotion initiative introduced by the government, which is aimed at promoting the growth of entrepreneurship and (SMEs). These initiatives indirectly support eyewear startups by offering funding and infrastructure. Import and Export Regulations launched by the Government, where changing trade policies and tariffs can influence various goods businesses, including eyewear products as well.

Market Analysis by Mode of Sales

According to Nitesh Kumar, Research Manager, 6Wresearch, the retail outlets segment has traditionally held major shares in the market, as people opt to go to nearby stores to make purchases. However, online platforms are also gaining traction in the country with the rising online shopping prevalence among the population. Also, the increasing existence of popular brands on digital platforms contributes to high online sales.  

Market Analysis by Product Types

Based on product types, prescription glasses/spectacles have been traditionally gaining momentum as they serve both necessities including medical necessity and fashion perception. However, contact lenses are also witnessing a high demand in the market, to avoid wearing glasses and to serve fashion purposes.

Key attractiveness of the report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2019 to 2022.
• Base Year: 2022.
• Forecast Data until 2029.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• India Eyewear Market Outlook
• Market Size of India Eyewear Market, 2022
• Forecast of India Eyewear Market, 2029
• Historical Data and Forecast of India Eyewear Revenues & Volume for the Period 2019 - 2029
• India Eyewear Market Trend Evolution
• India Eyewear Market Drivers and Challenges
• India Eyewear Price Trends
• India Eyewear Porter's Five Forces
• India Eyewear Industry Life Cycle
• Historical Data and Forecast of India Eyewear Market Revenues & Volume By Product Type for the Period 2019 - 2029
• Historical Data and Forecast of India Eyewear Market Revenues & Volume By Prescription glasses/spectacles for the Period 2019 - 2029
• Historical Data and Forecast of India Eyewear Market Revenues & Volume By Sunglasses for the Period 2019 - 2029
• Historical Data and Forecast of India Eyewear Market Revenues & Volume By Contact lenses for the Period 2019 - 2029
• Historical Data and Forecast of India Eyewear Market Revenues & Volume By Mode of Sale for the Period 2019 - 2029
• Historical Data and Forecast of India Eyewear Market Revenues & Volume By Retail stores for the Period 2019 - 2029
• Historical Data and Forecast of India Eyewear Market Revenues & Volume By Online stores for the Period 2019 - 2029
• Historical Data and Forecast of India Eyewear Market Revenues & Volume By End User for the Period 2019 - 2029
• Historical Data and Forecast of India Eyewear Market Revenues & Volume By Men for the Period 2019 - 2029
• Historical Data and Forecast of India Eyewear Market Revenues & Volume By Women for the Period 2019 - 2029
• India Eyewear Import Export Trade Statistics
• Market Opportunity Assessment By Product Type
• Market Opportunity Assessment By Mode of Sale
• Market Opportunity Assessment By End User
• India Eyewear Top Companies Market Share
• India Eyewear Competitive Benchmarking By Technical and Operational Parameters
• India Eyewear Company Profiles
• India Eyewear Key Strategic Recommendations

Market Covered

The report offers a comprehensive study of the subsequent market segments:

By Product Type

• Prescription Glasses/Spectacles
• Sunglasses
• Contact Lenses

By Mode Of Sale

• Retail Stores
• Online Stores

By End User

• Men
• Women