Market Forecast by Countries (Germany, United Kingdom, France, Italy, Russia, Spain, Rest of Europe), By Type (Contact Lenses, Spectacles, Sunglasses), By Application (E-Commerce, Brick & Mortar), And Competitive Landscape
Product Code: ETC058222 | Publication Date: Mar 2023 | Product Type: Market Research Report | |
Publisher: 6Wresearch | No. of Pages: 200 | No. of Figures: 90 | No. of Tables: 30 |
Europe Optical Stores Market is anticipated to grow in the coming years primarily due to the increasing demand for eyewear as the country’s ageing population is on the rise and there is increasing awareness about eye health. Apart from this, the online sales channel has gained traction in the Europe optical stores industry. Due to the COVID-19 pandemic, there has been a shift towards online shopping for eyewear products. Additionally, the increasing adoption of digital technologies such as 3D printing, blue light blocking lenses, progressive lenses, and virtual try-on tools has become more prevalent in the optical stores market of Europe. This, in turn, has helped to improve the customer experience and provides them with bespoke solutions to consumers.
Moreover, consumers are willing to spend more on high-quality eyewear and other optical products backed by increasing disposable incomes. This trend is projected to continue in the years to come and helps in thriving the industry. With increased awareness of the importance of eye health, more people are visiting optometrists and ophthalmologists for regular check-ups. Furthermore, the demand for eyewear and other optical products is likely to increase in urban areas as urban environments are often associated with increased exposure to pollutants and harmful UV rays, which can affect eye health.
Europe Optical Stores Market is expected to witness a proliferation in the coming time frame on the back of an increase in the growth of the According to the Council of Europe Development Bank, ageing is highest in European countries compared to the globe. This increases the demand for prescription glasses in the majority of European countries. The Europe prescription spectacle market size was USD 23.92 billion in 2019 and is projected to reach USD 31.89 billion by 2027. The prescription spectacles market in Europe is largely driven by a population above 45 years followed by a high diagnosed rate of ocular diseases and a developed economy to afford luxury products.
According to 6Wresearch, Europe Optical Stores Market is expected to register growth during the forecast period 2021-2027F. The usage of visual aids such as glasses and contact lenses among the population grows at an increasing rate. According to the Association of Research in Vision and Ophthalmology, around 70% of people in the UK and 63% in Germany wear glasses. Moreover, the proportion of people aged above 60 years wearing glasses is almost 100%. In comparison, less than 50% population aged 20-50 use any reading or visual aid.
Due to the huge population base, a growing variety of frames, and spending on luxury brands Germany stood at USD 5.24 billion in 2019. Followed by Germany, France held a significant proportion of the market due to the high cost of spectacles in the country. The high disposable income of the population further increases the demand for premium spectacles in the country. The market in Italy is expected to grow at a high speed due to large unmet needs and increasing variety in the optical store market. The market in the rest of European countries is expected to grow at a considerable rate owing to the increasing standard of living, growing population, high demand for contact lenses, and strategic expansion of leading players in the country.
In response to the Covid 19 Pandemic and lockdown in the entire nation, the eyewear industry showed a sharp decline. This was because of a disturbed economy, disturbing supply chain, closure of retail optical stores, etc. People now avoid visiting offline stores and there’s a huge decrease in spending on luxury brands. For example, Essilor Luxottica, one of the leading players in the prescription spectacle market segment witnessed a decline of 5.1%.
The Europe optical stores market report thoroughly covers the European market segmentation on the basis of usage and growth of the optical store market. The optical store industry report provides an unbiased and undetailed analysis of ongoing trends, growth areas, and challenges faced by the industry.
Europe Optical Stores Market is anticipated to register sound revenues in the coming timeframe backed by the rising geriatric population across the region that reflects an increase in age-related macular degeneration disorder subsequently surging the demand for eyeglasses. Not only the geriatric population but the demand for eyeglasses has been rising from children as well as the high presence of children on online platforms causing eye-related diseases such as myopia and hyperopia disease, which is further estimated to bolster the growth of the Europe optical stores market in the forthcoming years.
The Market Report includes the following segments:
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Europe Optical Stores Market Overview |
3.1 Europe Regional Macro Economic Indicators |
3.2 Europe Optical Stores Market Revenues & Volume, 2020 & 2027F |
3.3 Europe Optical Stores Market - Industry Life Cycle |
3.4 Europe Optical Stores Market - Porter's Five Forces |
3.5 Europe Optical Stores Market Revenues & Volume Share, By Countries, 2020 & 2027F |
3.6 Europe Optical Stores Market Revenues & Volume Share, By Type, 2020 & 2027F |
3.7 Europe Optical Stores Market Revenues & Volume Share, By Application, 2020 & 2027F |
4 Europe Optical Stores Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Europe Optical Stores Market Trends |
6 Europe Optical Stores Market, 2017 - 2027 |
6.1 Europe Optical Stores Market, Revenues & Volume, By Type, 2017 - 2027 |
6.2 Europe Optical Stores Market, Revenues & Volume, By Application, 2017 - 2027 |
7 Germany Optical Stores Market, 2017 - 2027 |
7.1 Germany Optical Stores Market, Revenues & Volume, By Type, 2017 - 2027 |
7.2 Germany Optical Stores Market, Revenues & Volume, By Application, 2017 - 2027 |
8 United Kingdom Optical Stores Market, 2017 - 2027 |
8.1 United Kingdom Optical Stores Market, Revenues & Volume, By Type, 2017 - 2027 |
8.2 United Kingdom Optical Stores Market, Revenues & Volume, By Application, 2017 - 2027 |
9 France Optical Stores Market, 2017 - 2027 |
9.1 France Optical Stores Market, Revenues & Volume, By Type, 2017 - 2027 |
9.2 France Optical Stores Market, Revenues & Volume, By Application, 2017 - 2027 |
10 Italy Optical Stores Market, 2017 - 2027 |
10.1 Italy Optical Stores Market, Revenues & Volume, By Type, 2017 - 2027 |
10.2 Italy Optical Stores Market, Revenues & Volume, By Application, 2017 - 2027 |
11 Russia Optical Stores Market, 2017 - 2027 |
11.1 Russia Optical Stores Market, Revenues & Volume, By Type, 2017 - 2027 |
11.2 Russia Optical Stores Market, Revenues & Volume, By Application, 2017 - 2027 |
12 Spain Optical Stores Market, 2017 - 2027 |
12.1 Spain Optical Stores Market, Revenues & Volume, By Type, 2017 - 2027 |
12.2 Spain Optical Stores Market, Revenues & Volume, By Application, 2017 - 2027 |
13 Rest of Europe Optical Stores Market, 2017 - 2027 |
13.1 Rest of Europe Optical Stores Market, Revenues & Volume, By Type, 2017 - 2027 |
13.2 Rest of Europe Optical Stores Market, Revenues & Volume, By Application, 2017 - 2027 |
14 Europe Optical Stores Market Key Performance Indicators |
15 Europe Optical Stores Market - Opportunity Assessment |
15.1 Europe Optical Stores Market Opportunity Assessment, By Countries, 2020 & 2027F |
15.2 Europe Optical Stores Market Opportunity Assessment, By Type, 2020 & 2027F |
15.3 Europe Optical Stores Market Opportunity Assessment, By Application, 2020 & 2027F |
16 Europe Optical Stores Market - Competitive Landscape |
16.1 Europe Optical Stores Market Revenue Share, By Companies, 2020 |
16.2 Europe Optical Stores Market Competitive Benchmarking, By Operating and Technical Parameters |
17 Company Profiles |
18 Recommendations |
19 Disclaimer |