Market Forecast By Product (Spectacles, Sunglasses, Contact Lenses & Others), By End-user (Male, Female, Unisex), By Distribution Channels (Online, Offline) and by competitive landscape
Product Code: ETC003441 | Publication Date: Mar 2023 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 |
Sri Lanka Eyewear Market is forecast to register massive growth with the increasing population, rising disposable income, and ageing population as older people require corrective eyewear to improve their vision. Additionally, changing consumer preferences in Sri Lanka and advancements in eyewear technology are also contributing to the growth of the eyewear market in Sri Lanka. The government is investing in the development of its healthcare industry, which is helping to raise awareness about the importance of eye health and driving demand for eyewear products. The launch of online platforms makes it easier for consumers to purchase glasses and contact lenses.
Moreover, there has been a growing demand for premium eyewear and many companies are now offering high-end glasses and sunglasses to cater to this demand. There is a growing awareness of sustainability issues in Sri Lanka, and many eyewear companies are now focusing on eco-friendly materials and production processes. Some eyewear companies in Sri Lanka are partnering with healthcare providers to offer vision screening services to consumers which is encouraging the importance of early detection of vision problems. Further, investment in technology such as 3D printing and virtual try-on tools by many eyewear companies improves the customer experience and streamlines production processes. Overall, the demand for Sri Lanka Eyewear Industry is expected to further proliferate in the forthcoming years owing to several growth factors such as rising disposable income, increasing geriatric population, and growing fashion consciousness among consumers.
The Sri Lanka Eyewear market is expected to register growth during the forecast period 2020-26F on the back of an increase in the use of augmented consumption of luxurious sunglasses range and other eyewear commodities. Further, rising discretionary spending on eyewear coupled with enhanced preferences of the consumers for best-in-style eyewear products backed by advanced fashion sense is expected to proliferate the growth of the Sri Lanka eyewear market in the upcoming six years. However, the rising popularity of refractive surgeries and laser-insisted (LASIK) vision correction advancements in the eyewear industry is likely to limit the growth of the Sri Lanka eyewear market in the near term.
According to 6Wresearch, Sri Lanka Eyewear Market is anticipated to witness growth during the forecast period 2020-26F. The spread of COVID-19 is expected to contribute towards the decline of the Sri Lanka 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 normal business activities is expected to lead to a decline in the market value of the Sri Lanka eyewear market.
On the basis of products, the eyeglasses domain of the overall Sri Lanka eyewear market is expected to witness the highest growth during the projected period 2020-26F backed by rising exposure of the population towards laptops, mobile phones, and tablets which is leading to an increase in the eye-related defects and is contributing to increased adoption of contact glasses. The purchasing cost of eyeglasses is much lower than soft contact lenses and is hence, expected to drive significant demand projections for eyeglasses in Sri Lanka in the near future.
The Sri Lanka Eyewear report thoroughly covers the market by End-user, Product, and Distribution Channels. Sri Lanka Eyewear outlook report provides an unbiased and detailed analysis of the ongoing Sri Lanka 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.
The Sri Lanka Eyewear Market report provides a detailed analysis of the following market segments:
1. Executive Summary |
2. Introduction |
2.1. Report Description |
2.2. Key Highlights of The Report |
2.3. Market Scope & Segmentation |
2.4. Research Methodology |
2.5. Assumptions |
3. Sri Lanka Eyewear Market Overview |
3.1. Sri Lanka Eyewear Market Revenues, 2016-2026F |
3.2. Sri Lanka Eyewear Market Revenue Share, By End-users, 2019 & 2026F |
3.3. Sri Lanka Eyewear Market Revenue Share, By-Products, 2019 & 2026F |
3.4. Sri Lanka Eyewear Market Revenue Share, By Distribution Channels, 2019 & 2026F |
3.5. Sri Lanka Eyewear Market Revenue Share, By Regions, 2019 & 2026F |
3.6. Sri Lanka Eyewear Market Industry Life Cycle |
3.7. Sri Lanka Eyewear Market- Porter’s Five Forces |
4. Sri Lanka Eyewear Market Dynamics |
4.1. Impact Analysis |
4.2. Market Drivers |
4.3. Market Restraints |
5. Sri Lanka Eyewear Market Trends |
6. Sri Lanka Eyewear Market Overview, By End-Users |
6.1. Sri Lanka Eyewear Market Revenues, By Men, 2016-2026F |
6.2. Sri Lanka Eyewear Market Revenues, By Women, 2016-2026F |
6.3. Sri Lanka Eyewear Market Revenues, By Unisex, 2016-2026F |
7. Sri Lanka Eyewear Market Overview, By-Products |
7.1. Sri Lanka Eyewear Market Revenues, By Sunglasses, 2016-2026F |
7.2. Sri Lanka Eyewear Market Revenues, By Spectacles, 2016-2026F |
7.3. Sri Lanka Eyewear Market Revenues, By Contact Lenses, 2016-2026F |
7.4. Sri Lanka Eyewear Market Revenues, By Others, 2016-2026F |
8. Sri Lanka Eyewear Market Overview, By Distribution Channels |
8.1. Sri Lanka Eyewear Market Revenues, By Online, 2016-2026F |
8.2. Sri Lanka Eyewear Market Revenues, By Offline, 2016-2026F |
9. Sri Lanka Eyewear Market Overview, By Region |
9.1. Sri Lanka Eyewear Market Revenues, By Region, 2016-2026F |
10. Sri Lanka Eyewear Market Key Performance Indicators |
11. Sri Lanka Eyewear Market Opportunity Assessment |
11.1. Sri Lanka Eyewear Market, Opportunity Assessment, By Product, 2025F |
11.2. Sri Lanka Eyewear Market, Opportunity Assessment, By Region, 2025F |
12. Sri Lanka Eyewear Market Competitive Landscape |
12.1. Sri Lanka Eyewear Market Competitive Benchmarking, By Product |
12.2. Sri Lanka Eyewear Market Revenue Share, By Company, 2019 |
13. Company Profiles |
14. Key Strategic Recommendations |
15. Disclaimer |