"Spectacles in South Korea" is now available at Fast Market Research

Spectacles grew by 3% in value terms and 1% in volume terms in 2015. The growth rate was similar to that of the previous years as the category continued to show healthy performance in South Korea. Spectacle frames showed the fastest current value growth at 6% and sunglasses grew by 4% in 2015. Spectacle frames are now regarded as important fashion items and many South Korean consumers prefer to wear luxury spectacle frames just as much as sunglasses. For sunglasses, previously consumers tended to wear sunglasses during the summer season when UV rays are most harmful to the eyes; however, consumers currently wear them all year long to protect their eyes or as fashion items.

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Competitive Landscape

Safilo and Chemiglas led spectacles in South Korea, each with 9% value shares, followed very closely by Daemyung Optical (8%). Spectacle lens manufacturer Chemiglas is owned by Essilor International SA and the company constantly developed and introduced innovative spectacle lenses to the market recently. Chemiglas has various kinds of functional spectacle lenses such as lenses filtering out blue light from the electronic devices, impact-resistant lenses and myopia-suppressing lenses. Although consumers do not highly recognise each lens from the company, the opticians strongly recommend them to the customers, so that the company enjoyed healthy value growth in 2014.

Industry Prospects

Spectacles is expected to show a value CAGR of 4% at constant 2015 prices during the forecast period. The growth rate is expected to be higher than that over the review period, as many consumers regard spectacles as one of the important fashion accessories in South Korea. Therefore, spectacle frames and sunglasses will show better performance than other categories. Also, as ultrafine dust and yellow dust from China become more severe every year, the seasonal preference for spectacles will strengthen during the forecast period, leading sales to growth.

Report Overview

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

The Spectacles in South Korea 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

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