DUBLIN, July 13, 2023 /PRNewswire/ — The “European Optical Retail Market (2023 Edition): Analysis By Product Type (Spectacles, Sunglasses, Contact Lenses), Price Range, Age Group, Sales Channel, By Country: Market Size, Insights, Competition, Covid-19 Impact and Forecast (2023-2028)” report has been added to ResearchAndMarkets.com’s offering.
The European Optical Retail Market is poised for remarkable growth, projected to reach a value of USD 54.09 Billion by the close of 2028, experiencing significant expansion from its 2021 value of USD 26.96 Billion. Over the forecast period from 2023 to 2028, the market is expected to demonstrate a robust Compound Annual Growth Rate (CAGR) of 6.57%.
The optical retail sector in Europe represents a thriving and competitive industry that caters to consumer needs for eyewear products and services. This market encompasses a diverse range of businesses engaged in the sale of eyeglasses, contact lenses, sunglasses, and other vision-related products, as well as those offering essential services such as eye examinations, prescription services, and other vision-related solutions. Adherence to rigorous quality and safety standards for eyewear products and services is a fundamental aspect of this industry, regulated by national and regional health authorities.
Numerous factors drive the growth of the European Optical Retail Market, including the presence of an aging population, an increased awareness of the significance of eye health, and advancements in technology that enable advanced and personalized vision care. In recent years, the market has witnessed a notable shift towards online sales, with many optical retailers now embracing e-commerce platforms to cater to customer preferences.
The optical retail market in Europe can be segmented into several categories, including eyewear products, eyewear accessories, and vision care services. Within the eyewear products segment, the market can be further segmented into Spectacles/Glasses, contact lenses, and sunglasses.
Spectacles/Glasses are the largest segments of the European optical retail market, accounting for approximately 75% of total revenue in 2020. This segment is expected to continue to dominate the market, driven by factors such as an ageing population and an increased prevalence of myopia in younger generations. In recent years, there has also been a trend towards more personalized and fashionable glasses, with many retailers offering a range of frame styles, materials, and colors to suit different customer preferences.
The contact lenses segment is expected to grow at a faster rate than prescription glasses, driven by factors such as convenience and comfort. Advances in technology have also made contact lenses more accessible and affordable for consumers, with many retailers offering a range of disposable and extended-wear options.
The Nordic countries are the second-largest region in the European optical retail market, accounting for approximately 13% of total revenue in 2020. Technology advancements such as virtual try-on tools and tele-optometry services have improved the online shopping experience for customers. Customers can virtually try on glasses frames using their smartphones or laptops and receive prescriptions from licensed optometrists remotely.
This study provides the completive landscape of the optical retail market of Europe and profiles some of the leading players of Europe including Essilor Luxottica, Fielmann, Hans Anders, Walgreens Boots Alliance, Alain Afflelou, Hartlauer, Krys Group, Optic 2000, and others. The company profiling includes critical information such as a business overview, products and services, key financials, and recent events and developments. Overall, the report provides a detailed overview of the Europe Optical Retail Market, which will assist industry consultants, equipment manufacturers, existing players looking for expansion opportunities, new players looking for opportunities, and other stakeholders in aligning their market-centric strategies with current and expected future trends.
Scope of the Report:
- The report analyses the Optical Retail Market by Value (USD Billion).
- The report presents the analysis of the Europe Optical Retail market for the historical period of 2018-2021, the estimated year 2022, and the forecast period of 2023-2028.
- The report analyses the Optical Retail Market by Product Type (Spectacles/Glasses, Sunglasses, Contact Lenses).
- The report analyses the Optical Retail Market by Price Range (Luxury, Non-Luxury).
- The report analyses the Optical Retail Market by Age Group (0-18 years, 19-64 years, Above 65 years).
- The report analyses the Optical Retail Market by Sales Channel (Online, Offline).
- The Europe Optical Retail Market has been analyzed by countries (Germany, United Kingdom, France, Italy).
- The market dynamics such as growth drivers, market trends, and challenges are analyzed in-depth.
Competitive Positioning
Companies’ Product Positioning
- Market Position Matrix
- Market Share Analysis of Optical Retail Market
Company Profiles
- Essilor Luxottica
- Fielmann
- Hans Anders
- Walgreens Boots Alliance
- Alain Afflelou
- Hartlauer
- Krys Group
- Optic 2000
- Specsavers Optical Group Ltd.
- Optical Express
For more information about this report visit https://www.researchandmarkets.com/r/4n23iw
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Media Contact:
Research and Markets
Laura Wood, Senior Manager
[email protected]
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg
View original content:SOURCE Research and Markets
Featured image: © healthhlsje
