Understand the cultural and socioeconomic influences that shape i...
Understand the cultural and socioeconomic influences that shape industry demand throughout Asia-Pacific, with local insight, market statistics and analysis ranging from strategic regional overview to in-depth coverage by country or city.
Technological advances in 2024 will continue to reshape consumer behaviour. This annual report explores the top five digital shopper trends that will redefine commerce the most in the year ahead. Some of the trends included in this report’s edition…
Now in its seventh edition, this report explores the top digital shopper trends that will redefine commerce the most in the year ahead. Some of the trends included in this edition touch on topics such as second-hand shopping, community group buying,…
The market for sunglasses in the Philippines is expected to see dynamic growth in current value terms in 2024, continuing the trend of the previous year. This will be in the context of gradually improving economic conditions, which will encourage…
Sunglasses in Thailand is continuing to recover in 2024, with positive growth in both volume and current value sales. More brands are interested in entering the local market and both chained and independent retailers are investing in expansion and…
Demand for sunglasses is on the rise in 2023 as COVID-19 restrictions are now relaxed and people venture outdoors more frequently, whether for socializing or exercising. The return of international travel patterns has been a key driver as most…
As COVID-19 restrictions have lifted in South Korea and consumers are returning to their daily routines, demand for sunglasses has recovered in 2023, with the category also recording a third consecutive year of double-digit current value growth.…
After a year of exceptional double-digit volume and current value growth in 2023, sunglasses in Singapore is set to see notable declines by both measures in 2024, given the replacement rate of sunglasses. With such high demand in 2023, most people…
Demand for sunglasses in Malaysian remains strong in 2024, with more consumers willing to invest in purchasing new products. This is partly thanks to the resurgence of international travel and increasingly active lifestyles. The revival of…
Sunglasses in Japan is set to see double-digit volume and current value growth in 2024. Sunglasses used to have a scary image in Japan, as they were historically commonly associated with the Japanese mafia (yakuza), or villains portrayed in films.…
Sunglasses is set to see strong current value growth in Indonesia in 2024. The sunglasses category has performed well in the latter part of the review period, even though its volume growth has slowed following the rapid recovery in the immediate wake…
Sunglasses in India is experiencing double digit growth in 2023, attributed to the complete, post-pandemic recovery of travel and mobility within the country. Indeed, in 2023, consumers are engaging in more travel activities, resulting in a notable…
Demand for sunglasses is rising, in line with greater mobility outside of the home and the resumption of travel following the reopening of Hong Kong’s border in early 2023. Although domestic sales of sunglasses are expected to decline due to a…
Sunglasses in China is anticipated to continue growing in current value terms in 2024, albeit under the influence of market conditions, and it is not expected that sales will return to the level seen in 2021. Nevertheless, there are positive…
The market for spectacles in the Philippines is expected to see significant growth in current value terms in 2024. This will be in the context of gradually improving economic conditions, including government efforts to contain inflation, which will…
Spectacles in Thailand is benefiting from consumers’ habits and lifestyles in 2024, with persistent digitalisation and hybrid work arraignments supporting sales as people spend more time in front of screens. Spectacles are regarded as essential by…
In the post-COVID-19 era, it is no longer mandatory to wear masks in Taiwan but many people still prefer to do so. Many individuals in Taiwan prefer contact lenses over glasses due to the discomfort caused by wearing glasses and masks simultaneously.…
With the prevalence of smartphone use in modern society, consumers of all ages, from young children to adults, are constantly exposed to blue light, which is leading to increasing demand for spectacle lenses with blue light filters. Particularly for…
Spectacles in Singapore is expected to maintain solid volume and current value growth in 2024. Singapore’s ageing population is a key factor driving growth of spectacles. As consumers age, their eyesight starts to deteriorate, and this is leading to…
Current value growth in spectacles in Malaysia is being driven by premiumisation trends in 2024. Malaysians are typically brand conscious and show a strong appetite for luxury and premium spectacle frames. The trend is supported by the growing number…
Spectacles in Japan is set to see continued growth in volume and current value terms in 2024. Consumers care more about the health of their eyes, which is a general positive trend for spectacles. There are three main factors behind the growth of…
Spectacles is set to see slight current value growth in Indonesia in 2024. The corporate market potential for spectacles is still significant in Indonesia, and will continue to grow. This can be seen from the hike in sales of spectacles that commonly…
In 2023, spectacles, comprising both spectacle lenses and frames, showcased significant growth. This growth can be attributed to the increasing number of people in India with vision correction needs. The rise in vision correction requirements can be…
Ageing remains one of the most significant demographic factors impacting eyewear in Hong Kong. In early 2023, over 21.6% of the population in Hong Kong were aged 65 years and older, and thus likely to be in need of some type of presbyopia-related…
Following a rebound in 2023, which saw strong double-digit current value growth, spectacles in China is set to return to high single-digit growth in 2024, indicating a return to a more stable growth trajectory. In terms of category performances,…
The coronavirus (COVID-19) pandemic has triggered the most severe global recession in nearly a century. Businesses are operating in a world of anxieties and uncertainties, not knowing what will be the new normal or when output and consumer spending…
This report examines inflation levels and drivers globally and in key countries in Q4 2023 and 2024. Global inflation is moderating, although divergence remains among the key economies. Higher volatility in the energy markets and disruption of…
This report examines inflation levels and drivers globally and in key countries. Global inflation is reaching a peak, although geopolitical risks and uncertainty in the energy market remain key risks. The impact varies between countries, with…
This report examines inflation levels and drivers globally and in key countries. In 2023, global inflation is expected to ease from its peak in 2022, but remaining significantly above-trend. Geopolitical risks and uncertainty in the energy market are…
The market for eyewear in the Philippines is expected to see significant growth in current value terms in 2024, with sales rising in all three categories. This will be in the context of gradually improving economic conditions, including government…
Demand for eyewear in Thailand continues to recover in 2024. Though the market remains somewhat hindered by economic uncertainty and cautious spending behaviour amid economic uncertainty, eased restrictions have pushed a fuller return to pre-pandemic…
As COVID-19 restrictions ease in Taiwan, people are returning to their normal routines, including going back to the office, exercising outdoors, and traveling on holiday. Due to the strong preference for in-office working culture, demand for contact…
Overall eyewear in South Korea is recording mild growth in 2023, with all eyewear categories surpassing pre-pandemic value sales levels. Sunglasses is a particularly strong performer in 2023, recording another year of double-digit value growth and…
Overall eyewear in Singapore is set to see retail volume growth and more dynamic current value growth in 2024, with growth rates having largely normalised after the pandemic disruption. However, very different performances are expected across…
Eyewear in Malaysia in 2024 is seeing continued growth overall in both volume and current value terms. Sales are supported by the fuller resurgence of international travel and return to active outdoor lifestyles. Retailers are leveraging this trend…
Eyewear in Japan is set to maintain solid current value growth in 2024, with increases in sales expected across contact lenses, spectacles, and sunglasses. Eyewear products are no longer a simple vision correction tool, but have expanded to eye…
Eyewear is set to see growth in both volume and value terms in Indonesia in 2024. Buying power in the market has already notably shifted towards younger generations with significantly different characteristics to their older counterparts. These…
The eyewear industry showcased good growth across all categories in 2023. The resurgence of travel, and the post-pandemic increase in outdoor activities and events, have fuelled growth for the category. After a year and a half of home seclusion,…
Overall eyewear in Hong Kong shows greater signs of recovery in 2023, following low growth rates in 2022. The Hong Kong government gradually eased social restrictions from the second half of 2022 into early 2023. In March 2023, Hong Kong fully…
In the post-pandemic era, while the impact of COVID-19 is gradually waning, the slowdown in China’s macroeconomic environment is influencing the overall consumer landscape. Overall eyewear in China is therefore set to see a slower but solid…
The market for contact lenses and solutions in the Philippines is expected to see dynamic growth in current value terms in 2024, driven by greater accessibility. Accelerated urbanisation has led to the emergence of a growing number of optical goods…
Contact lenses and solutions in Thailand is seeing innovation informed by diverse demand from local consumers in 2024. Broadly, the main users of contact lenses in the country can be classified into three groups. First, those with eye problems who…
Contact lenses and solutions continue to recover from the negative impact of the COVID-19 pandemic in 2023. Despite some government intervention in 2022, retail volume and current value sales still remain substantially lower than pre-pandemic levels…
Demand for contact lenses in South Korea continues to grow in 2023. Most COVID-19 restrictions, such as for large group gatherings and curfews for businesses, were lifted in April 2022, encouraging local consumers to return to pre-pandemic busy…
Contact lenses in Singapore is projected to continue growing in volume and current value terms in 2024. The boom in outdoor and sporting activities is helping to drive growth, as it is much easier to participate in sports when wearing contact lenses…
Contact lenses in Malaysia is seeing a continued consumer shift from frequent replacement lenses to daily disposable lenses in 2024. This is being driven by changing lifestyles and evolving demand. In the immediate aftermath of the pandemic, local…
Contact lenses in Japan is set to continue to see volume and current value growth in 2024. One factor driving growth has been children. More and more children are suffering from myopia. While spectacles is still the main treatment method for children…
Contact lenses is set to see current value growth in Indonesia in 2024. In an era in which self-expression is key, the younger generation often look for ways to stand out and express their personalities through style and appearance. To do so they…
The post-pandemic return to mobility, with increased instances of outdoor events, and growth in terms of consumer awareness with respect to usage, all combine to facilitate growth in contact lenses in 2023 – maintaining the positive trend observed in…
Demand for contact lenses in Hong Kong continues to grow. Following the cancellation of mandatory face mask policies, the local government lifted all pandemic-related restrictions in March 2023. Consumers' lives are returning to normal, and their…
Following impressive double-digit growth surpassing most beauty- and fashion-related categories in 2023, contact lenses in China is expected to return to stable mid-single-digit current value growth in 2024. On the one hand, the rapid expansion of…