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Market Research Report: Eyewear Market In India 2010

For the complete report, get in touch with us at: info@netscribes.com Eyewear market in India is witnessing strong growth. Poor eye health along with changing consumer perception has led to a growing market. Brand consciousness among consumers has also fuelled the demand for eyewear products in India. The report begins with an overview of the eyewear market stating the market size and growth, different segments of eyewear. It also includes the import and export levels of the various segments in the market highlighting the changes in international eyewear trade. An analysis of the drivers explains growth factors such as poor eye health, low penetration of contact lens, rise in organized retail and increasing awareness and brand consciousness among consumers. The key challenges identified include lack of penetration in rural areas, high import duty and price difference between branded and unbranded products. The report identifies the key trends including growing partnerships between manufacturers and retailers, players providing eye testing facilities and other amenities, players diversifying product portfolio and entry of luxury eyewear brands. Competition section provides a snapshot of the players in the market including information regarding their operational segments, business highlights and future plans, providing an insight into the existing competitive scenario.

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Eyewear Market - India
May 2010
Executive Summary

              Highly unorganized and fragmented market
              Market is expected to grow at m - n% p.a.
  Market      Market is classified into four segments namely Segment 1, Segment 2, Segment 3 and Segment 4
              Exports are dominated by Segment 1 while Segment 2 are the major imports

              Drivers:
               Poor eye health

                               PLE                               Challenges:
                                                                  Lack of penetration in rural areas



                              M
               Low penetration of contact lens                    High import duty
 Drivers &

                             A
               Rise in organized retail                           Price difference between branded
Challenges

                            S
               Increasing awareness and brand                     and unbranded products
               consciousness among consumers

               Growing partnerships between manufacturers and retailers
               Players providing eye testing facilities and other amenities
  Trends       Players diversifying product portfolio
               Entry of luxury eyewear brands

               There very few organized players with a national presence
               Most of the players are present across the four segments of the eyewear market
Competition    Major domestic players comprise of Company 1, Company 2, Company 3
               Foreign players include Company 4, Company 5, Company 6


                                      EYEWEAR MARKET IN INDIA.2010.PPT                                       2
Eyewear market in India is growing steadily with the
 existence of a large unorganized sector
 Market Overview                                                    Market Size and Growth
 • Eyewear market in India is highly unorganized and
   fragmented with the presence of a large number of                     INR mn
   small and regional players                                     30,000


                                         LE
                                                                                                    +n%                  z
 • Market has been growing at an impressive rate of m-                                                     y
                                                                  20,000                        x
   n% annually

                                        P
 • On an average, consumers change their eyewear

                                       M
   once in p-q years which provides strong
                                                                  10,000
                                                                                  w




 Market Segmentation
                                     SA
   opportunities for players in the market                               0
                                                                                 2006

                                                                    Market Structure
                                                                                            2007          2008          2009




                                                                                      h%                         MS 1
                         Segments
                                                                                                                 MS 2




          S1        S2              S3           S4
                                                                                           g%


Source:

                                              EYEWEAR MARKET IN INDIA.2010.PPT                                                 3
Drivers & Challenges - Summary



                                                              Challenges

  Drivers                                                     High import duty

  Poor eye health                                             Lack of penetration in rural areas

  Low penetration of contact lens                             Price difference between branded and
                                                              unbranded products

  Rise in organized retail

  Increasing awareness and brand
  consciousness among consumers




                                    EYEWEAR MARKET IN INDIA.2010.PPT                                 4
Key Trends




             Entry of luxury eyewear &       Growing partnerships between
                       retailers              manufacturers and retailers



                                         Trends

                                               Players providing eye testing
             Players diversifying product
                                              facilities and other specialized
                       portfolio
                                                           services




                                                                                 5
Competition – Summary
                                                            SAMPLE
              Players      Lens             Contact Lenses           Sunglasses   Frames
                                       Domestic Players
            Company 1

            Company 2

            Company 3

            Company 4

            Company 5

            Company 6

            Company 7

            Company 8

                                     International Players
            Company 1

            Company 2

            Company 3

            Company 4

            Company 5
Source: Company Websites

                                  EYEWEAR MARKET IN INDIA.2010.PPT                         6

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Market Research Report: Eyewear Market In India 2010

  • 1. Eyewear Market - India May 2010
  • 2. Executive Summary Highly unorganized and fragmented market Market is expected to grow at m - n% p.a. Market Market is classified into four segments namely Segment 1, Segment 2, Segment 3 and Segment 4 Exports are dominated by Segment 1 while Segment 2 are the major imports Drivers: Poor eye health PLE Challenges: Lack of penetration in rural areas M Low penetration of contact lens High import duty Drivers & A Rise in organized retail Price difference between branded Challenges S Increasing awareness and brand and unbranded products consciousness among consumers Growing partnerships between manufacturers and retailers Players providing eye testing facilities and other amenities Trends Players diversifying product portfolio Entry of luxury eyewear brands There very few organized players with a national presence Most of the players are present across the four segments of the eyewear market Competition Major domestic players comprise of Company 1, Company 2, Company 3 Foreign players include Company 4, Company 5, Company 6 EYEWEAR MARKET IN INDIA.2010.PPT 2
  • 3. Eyewear market in India is growing steadily with the existence of a large unorganized sector Market Overview Market Size and Growth • Eyewear market in India is highly unorganized and fragmented with the presence of a large number of INR mn small and regional players 30,000 LE +n% z • Market has been growing at an impressive rate of m- y 20,000 x n% annually P • On an average, consumers change their eyewear M once in p-q years which provides strong 10,000 w Market Segmentation SA opportunities for players in the market 0 2006 Market Structure 2007 2008 2009 h% MS 1 Segments MS 2 S1 S2 S3 S4 g% Source: EYEWEAR MARKET IN INDIA.2010.PPT 3
  • 4. Drivers & Challenges - Summary Challenges Drivers High import duty Poor eye health Lack of penetration in rural areas Low penetration of contact lens Price difference between branded and unbranded products Rise in organized retail Increasing awareness and brand consciousness among consumers EYEWEAR MARKET IN INDIA.2010.PPT 4
  • 5. Key Trends Entry of luxury eyewear & Growing partnerships between retailers manufacturers and retailers Trends Players providing eye testing Players diversifying product facilities and other specialized portfolio services 5
  • 6. Competition – Summary SAMPLE Players Lens Contact Lenses Sunglasses Frames Domestic Players Company 1 Company 2 Company 3 Company 4 Company 5 Company 6 Company 7 Company 8 International Players Company 1 Company 2 Company 3 Company 4 Company 5 Source: Company Websites EYEWEAR MARKET IN INDIA.2010.PPT 6
  • 7. Thank you for the attention The Eyewear Market - India report is part of Research on India’s Consumer Goods industry. For more detailed information or customized research requirements please contact: Gagan Uppal Gaurav Kumar Phone: +91 98364 71499 Phone: +91 98303 09715 E-Mail: gagan.uppal@netscribes.com E-Mail: gaurav.kumar@netscribes.com Research on India is a product of Netscribes (India) Pvt. Ltd. Research on India is dedicated to disseminating information and providing quick insights on “hot” industries in India and other emerging markets. Track our new releases and major updates in these industries on About Netscribes Netscribes is a knowledge-consulting and solutions firm with clientele across the globe. The company’s expertise spans areas of investment & business research, business & corporate intelligence, content-management services, and knowledge-software services. At its core lies a true value proposition that draws upon a vast knowledge base. Netscribes is a one-stop shop designed to fulfil clients’ profitability and growth objectives. Disclaimer: This report is published for general information only. Although high standards have been used the preparation, Research on India, Netscribes (India) Pvt. Ltd. or “Netscribes” is not responsible for any loss or damage arising from use of this document. This document is the sole property of Netscribes (India) Pvt. Ltd. and prior permission is required for guidelines on reproduction. EYEWEAR MARKET IN INDIA.2010.PPT 7