It is estimated that of the 7.3 billion people in the world today, 63 percent need vision correction, but only 1.9 billion have purchased glasses, contact lenses, or underwent surgery. More than 2.5 billion people still need it, especially in Asia, Africa, Latin America. Milan Fashion Week 2016 showed that the famous brands Safilo and Max Mara are here to help.
At the same time, the risks of damage from more and more powerful sunlight, UV and other spectrum, forcing glasses to go from quality "nice to have" to quality "must be", spreading to large segments of the population.
Over the long term, the outlook for the goggle industry is upbeat with a compound annual growth rate of 2.5 percent per annum to 2020, predicts Mei Ling Tam, head of personal accessories and eyewear research at Euromonitor.
“We are now even more convinced that the ophthalmic industry, with powerful drivers, is likely to become one of the most prosperous areas,” write analysts at Citi Mauro Baragiola.
The industry is also carving itself into the niche of the luxury goods sector. Analysts estimate that annual global sales of high-quality sunglasses and eyeglasses for corrective vision at € 200 or more are € 13 billion annually and growing.
The industry is currently in a situation where manufacturers have to do something unexpected in order to gain recognition. They are at the crossroads of technology and consumer behavior change. Demographic shifts, especially in Asia, are the main change and driving factor.
