- Market Research
Malaysia Eyewear (Spectacles and Contact Lenses) Market Outlook to 2021
DUBLIN (PRNewswire) – ResearchAndMarkets.com released its market report titled "Malaysia eyewear market by type (spectacles and contact lenses), by sunglasses and eyeglasses and by sales channel - outlook to 2021", which covers the market size on the basis of revenue, market segmentation by spectacles and contact lenses, by type of spectacle glasses, spectacle frames and glasses, type of contact lenses, contact lens replacement time and by distribution channel.
The report also includes the government initiatives and regulations in Malaysia eyewear market, competitive landscape and company profiles for major players in the eyewear market. It provides detailed overview on the future outlook & projections with future strategies of the players in the market.
Furthermore, it facilitates the readers with the identification and in-depth analysis of the existing and future trends and issues that impacts the industry and has anticipated growth in the future depending upon changing industry dynamics in coming years. The report is useful for eyewear manufacturers, importers, wholesalers, retailers, customers and other stakeholders to plan their market centric strategies in accordance with the ongoing and expected trends in the future.
Malaysia is one among the countries in the world where the vision impairments like myopia, hyperopia and presbyopia are rising at an alarming rate. Largely, owing to the increased demand for prescription glasses the eyewear market in Malaysia has grown at a CAGR of 6.4% during the review period 2011-2016.
There is also a significant demand for sunglasses in the country. Malaysians are highly price conscious due to which the major players in the country offer branded eyewear products at discounted and affordable prices. Moreover, the optical shops in the country hold sales and promotional activities to attract a larger lot of Malay customers and also to accommodate the evolving consumer behavior, many optical shops have refurbished their existing store layouts to an open concept store layout.
Major manufacturers present in the market compete on the basis of the number of in-house and licensed brands, price range, product variants of each brand, type of glasses and other parameters. Retailers include optical shops that compete against each other on the basis of brands available in the shop, type of glasses offered, retail price, product variety, design of frames, type of glasses available in the store, sales and promotional activities and similar related features.