Spectacles in Hong Kong, China: New research report available at Fast Market Research

The growing prevalence of children and teenagers with myopia in Hong Kong, one of the highest rates in the world, was the largest factor in retail sales of spectacle lenses and spectacle frames during the review period. According to figures from Census and Statistics Department in 2012, more than half of children aged below 12 years have myopia, which accounts for over 400,000. The high level of short-sightedness among schoolchildren is largely caused by long hours of reading textbooks and staring at screens, and less time spent outdoors. Moreover, with the rising number of digital gadgets owned by children, many become addicted and are glued to their hand-held devices frequently.

Competitive Landscape

Luxottica Retail HK Ltd led spectacles in current value terms in 2014. This was attributed to its wide portfolio of luxury eyewear brands, including Prada, Ray-Ban, Burberry and Oakley. Hong Kong is one of the most vibrant sales markets for Luxottica Group SpA, which has continued investing in expanding its retail presence for its spectacle brands. Oakley and Ray-Ban has been supported with more promotions and a greater retail presence, confirming solid demand in luxury spectacles and sunglasses. Luxottica has also concentrated on boosting its rising retail brand Sunglass Hut, which achieved impressive sales results in 2014. The Group has successfully penetrated travel retail with proven economies of scale and efficiency.

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Industry Prospects

Over the forecast period, spectacles is predicted to post a value CAGR of 5% at constant 2015 prices. It will continue to be boosted by the growing demand for spectacle frames and spectacle lenses, due to the rapid development and substantial impact of digital technology in mobile devices. Progressively, the number of wearers will continue to rise. Indoor lifestyles of television watching, frequent attachment to digital screens and studying among children and young adults will be the factors contributing most to the growing need for spectacles. Besides this, the rapidly ageing population will increase the presbyopic population substantially.

Report Overview

Discover the latest market trends and uncover sources of future market growth for the Spectacles industry in Hong Kong, China with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Spectacles industry in Hong Kong, China, our research will save you time and money while empowering you to make informed, profitable decisions.

The Spectacles in Hong Kong, China market research report includes:

* Analysis of key supply-side and demand trends

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