"Contact Lenses in Spain" Published

Although macroeconomic indicators are positive, the average Spanish consumer’s disposable income is still far from reaching pre-economic crisis levels. Unemployment continued to stand at 24% at the beginning of 2015, according to the Encuesta Población Activa (EPA or Active Population Survey), which implies that almost 4.5 million citizens do not have a job. The high level of unemployment in the country limited the performance of contact lenses in 2015. Spaniards continued to look for the best value-for-money products, which dragged down the value sales performance of contact lenses as these products are perceived as expensive. Value sales grew by 3% in current terms, down slightly on the previous year.

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Competitive Landscape

The competitive landscape in contact lenses remained largely unchanged in 2014. Bausch & Lomb, Johnson & Johnson and Ciba Vision accounted for the bulk of sales, holding a combined value share of 58%. However, the importance of "others" is expected to gain ground slowly but steadily in the coming years due to increasing competition from private label.

Industry Prospects

Contact lenses in Spain is expected to post a value CAGR of 2% at constant 2015 prices over the forecast period, generally in line with the review period CAGR. The evolution of economic indicators will be crucial in explaining the performance of contact lenses in Spain. The latest estimates published by most international institutions such as the IMF or OECD predict a recovery for the Spanish economy over the forecast period. In particular, the IMF has predicted that Spanish GDP will grow by more than 2% in 2015 and 2016. A better economic framework will support the performance of the category.

Report Overview

Discover the latest market trends and uncover sources of future market growth for the Contact Lenses industry in Spain 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 Contact Lenses industry in Spain, our research will save you time and money while empowering you to make informed, profitable decisions.

The Contact Lenses in Spain market research report includes:

* Analysis of key supply-side and demand trends
* Detailed segmentation of international and local products
* Historic volumes and values, company and brand market shares
* Five year forecasts of market trends and market growth
* Robust and transparent market research methodology, conducted in-country

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