Dublin, April 06, 2023 (GLOBE NEWSWIRE) -- 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.
During the forecast period, 2023-2028, the Europe Optical Retail Market is expected to expand at a CAGR of 6.57%.
The optical retail market in Europe is a large and competitive industry that provides eyewear products and services to consumers. This market includes businesses that sell eyeglasses, contact lenses, sunglasses, and other vision-related products, as well as those that provide eye exams, prescription services, and other vision-related services.
The market is heavily regulated by national and regional health authorities, which set standards for the quality and safety of eyewear products and services.
The European Optical Retail Market is expected to generate USD 54.09 Billion by the end of 2028, up from USD 26.96 Billion in 2021.
The market is driven by a range of factors, including an aging population, an increased awareness of the importance of eye health, and advances in technology that allow for more advanced and personalized vision care. In recent years, there has also been a trend towards online sales, with many optical retailers now offering e-commerce services to customers.
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.
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.
- The competitive landscape of the market, along with the company profiles of leading players (Essilor Luxottica, Fielmann, Hans Anders, Walgreens Boots Alliance, Alain Afflelou, Hartlauer, Krys Group, Optic 2000) are also presented in detail.
Key Target Audience:
- Optical Retail Manufacturers
- Consulting Firms
- Research and Development Organizations
- Government Bodies & Regulating Authorities
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 120 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value in 2023 | 39.34 Billion |
| Forecasted Market Value by 2028 | 54.09 Billion |
| Compound Annual Growth Rate | 6.5% |
| Regions Covered | Europe |
Key Topics Covered:
1. Market Background
2. Strategic Recommendations
3. Europe Optical Retail Market: Historic and Forecast (2018-2028)
5. Market Dynamics
6. Industry Ecosystem Analysis
7. Competitive Positioning
For more information about this report visit https://www.researchandmarkets.com/r/bgr0nd
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