Singapore Eyewear Market (2020-2026) | Size, Share, Trends, Growth, Revenue, Forecast, Analysis, Outlook & COVID-19 IMPACT

Latest 2023 Development of the Singapore Eyewear Market

Singapore Eyewear Market is expected to witness steady growth in the coming years. The major drivers of this growth are the increasing prevalence of vision disorders, particularly among older age groups. Additionally, the rising disposable incomes and changing fashion trends are also contributing to the increasing demand for eyewear products. The major companies are actively investing in research and development to develop new products and technologies that could offer better vision correction. Moreover, the trend of online sales is growing with the increasing demand for buying glasses and contact lenses via online mediums. This trend is primarily driven by the convenience offered by online retailers, as well as the availability of virtual try-on tools that allow consumers to test various types of glasses on their faces.

Generally, the Singapore eyewear industry is expected to grow in the years to come by the increasing disposable incomes, rising demand for corrective eyewear, and changing fashion trends among consumers. Furthermore, there has been a growing trend of collaboration between eyewear brands and fashion designers in Singapore which has led to the creation of unique and stylish eyewear collections that appeal to fashion-conscious consumers.

Singapore Eyewear Market Synopsis

Singapore Eyewear market is expected to register potential growth during the forecast period 2020-26F on the back of an increase in rising consumer consciousness regarding the image and style of eyewear products along with an increase in the middle-class population which is leading to increased consumer spending on fashion statements and would proliferate potential demand projections for eyewear products in Singapore in the coming years. Moreover, rising concerns for quality products for vision correction coupled with rising brand consciousness amongst consumers are likely to benefit the growth of the Singapore eyewear market.

According to 6Wresearch, Singapore Eyewear Market is anticipated to witness growth during the forecast period 2020-2026F. The spread of COVID-19 is expected to contribute towards the decline of the Singapore eyewear market on the back of disturbances in the supply chain and consequent disruptions in operations during the lockdown period in the country. Moreover, owing to a substantial dip in revenues is leading to heavy financial losses to the industry coupled with disruption in foreign trade is expected to lead to a decline in the market value of the Singapore eyewear market during 2020.

On the basis of distribution channels, the online sales domain of the overall Singapore eyewear market is expected to register the highest growth rate in the coming years owing to growth in the e-commerce sector coupled with increasing consumer dependency over online purchases backed by attractive discounts and convenient and easy shopping provided by the online sales channels. Moreover, On the basis of products, the eyeglasses domain of the overall Singapore eyewear market is expected to witness the highest growth during the projected period 2020-26F backed by the rising propensity of vision disorders backed by increased use of laptops, PCs, tablets, and mobile phones and is drive considerable demand for eyeglasses in the near term.

The Singapore Eyewear report thoroughly covers the market by End-user, Product, and Distribution Channels. Singapore Eyewear outlook report provides an unbiased and detailed analysis of the ongoing Singapore Eyewear 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.

On the back of an increase in the premium optimization of eyewear products coupled with the introduction of classic and lucrative designs of eyewear products which are anticipated to drive demand for the latest designs of eyewear in the near future in the country. Further, rising consumer consciousness regarding the image and style of eyewear products is expected to proliferate the growth of the Singapore eyewear market in the upcoming six years. Moreover, rising concerns for quality products for vision correction coupled with rising brand consciousness amongst consumers are likely to benefit the growth of the Singapore eyewear market. Moreover, consequent disruptions in the operations during the lockdown period in the country are likely to dip the sales revenue for many of the top eyewear brands in the near term and significantly contribute towards the slow growth of the Singapore eyewear market in the coming years.

On the basis of product, the spectacles domain of the Singapore eyewear market is anticipated to dominate the revenue share in the overall market in the coming years owing to rising vision-related issues in the country coupled with the increased use of laptops and PCs which is initiating the adoption of UV protected lens to ensure eye safety while working over laptops and PCs. Moreover, sunglasses are expected to register the second-highest growth rate in the overall Singapore eyewear market in the upcoming six years on the back of rising fashion trends and concerns regarding eye protection against harmful rays of the sun and is anticipated to proliferate the market growth of Singapore eyewear market in the coming years.

Singapore Eyewear Market is expected to register growth during the forecast period 2020-26F on the back of increasing instances of vision disorders which is leading to increased adoption of eyeglasses. Moreover, the rising adoption of eyewear products as fashion accessories is further, anticipated to boost the growth of the Singapore eyewear market in the coming years. The launch of eye-friendly contact lenses which provide comfort and freedom to carry out day-long activities coupled with an increase in the geriatric population with age-related eye vision problems are expected to drive considerable demand projections for eyewear products in Singapore in the upcoming six years.  On the basis of product, sunglasses are anticipated to dominate the revenue share in the overall market in the coming years owing to rising fashion statements amongst the young population in the country coupled with changing climatic conditions due to which their need for eye protection is rising. Further, the introduction of various trends in sunglasses is drawing the attention of the millennial population towards the adoption of sunglasses and would proliferate the growth of the Singapore eyewear market in the upcoming six years. 

Key Highlights of the Report:

• Singapore Eyewear Market Overview
• Singapore Eyewear Market Outlook
• Singapore Eyewear Market Forecast
• Singapore Eyewear Market Size and Singapore Eyewear Market Forecast until 2025
• Singapore Eyewear Market Share, By End-user
• Singapore Eyewear Market Share, By Product
• Singapore Eyewear Market Share, By Distribution Channels
• Singapore Eyewear Market Share, By Region
• Historical Data of Singapore Eyewear Market Revenues and Volume for the period, 2015-2018
• Market size and Forecast of Singapore Eyewear Market Revenues and Volume until 2025
• Historical Data of Singapore Eyewear Market Revenues and Volume, By End-user, for the Period 2015-2018
• Market size and Forecast of Singapore Eyewear Market Revenues and Volume, By End-user, until 2025
• Historical Data of Singapore Eyewear Market Revenues and Volume, By Product, for the Period 2015-2018
• Market size and Forecast of Singapore Eyewear Market Revenues and Volume, By Product, until 2025
• Historical Data of Singapore Eyewear Market Revenues and Volume, By Distribution Channels, for the Period 2015-2018
• Market size and Forecast of Singapore Eyewear Market Revenues and Volume, By Distribution Channels, until 2025
• Historical Data of Singapore Eyewear Market Revenues and Volume, By Region, for the Period 2015-2018
• Market size and Forecast of Singapore Eyewear Market Revenues and Volume, By Region, until 2025
• Singapore Eyewear Market Drivers and Restraints
• Singapore Eyewear Market Trends and Industry Life Cycle
• Porter’s Five Force Analysis
• Singapore Eyewear Market Opportunity Assessment
• Singapore Eyewear Market Revenue Share, By Company
• Singapore Eyewear Market Overview on Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations

Markets Covered

The Singapore Eyewear Market report provides a detailed analysis of the following market segments:

By Product

• Spectacles
• Sunglasses
• Contact Lenses
• Others  

By End-user:

• Male
• Female
•  Unisex

By Distribution Channels:

• Online
• Offline