ABOUT INDIA IIOO EXPO 2023
INDIA EYEWEAR MARKET
7th Edition of IIOO EXPO is scheduled in Chennai, India. Chennai is known for the gateway of South India and one of the largest market in eyewear in India.IIOO EXPO Chennai is already a establish show in India and almost all the brands and local distributors in eyewear have been participated in the show.IIOO EXPO is the only optical industry show in South part of India.
One of the main reasons behind this growth is the increasing demand for eyewear products among consumers in India. With the rise in disposable income and changing lifestyles, consumers are becoming more conscious about their appearance and are willing to spend more on fashion accessories, including eyewear. Moreover, the growing awareness about the importance of eye health has also led to an increase in demand for prescription eyewear.The eyewear market in India is witnessing several trends that are shaping its growth trajectory. One of the major trends is the shift towards online retail channels. With the increasing penetration of the internet and smartphones, consumers are increasingly buying eyewear products online, which is driving the growth of e-commerce platforms. Another trend is the rising popularity of branded eyewear products, which are perceived as being of higher quality and style.India is a diverse market with unique local circumstances that are shaping the growth of the eyewear market. One of the key factors is the high prevalence of myopia in the country, which is driving the demand for prescription eyewear. Moreover, the presence of a large unorganized sector in the eyewear market is also a unique aspect of the Indian market. This sector comprises small, local players who offer low-priced eyewear products, which are popular among price-sensitive consumers.
In 2023, the revenue generated in the Eyewear market of India is estimated to be US$5.58bn.
It is anticipated that the market will grow at an annual rate of 8.19%, representing a compounded annual growth rate (CAGR) between 2023 and 2027.
With respect to the total population, the per-person revenue generated in the Eyewear market is expected to be US$3.93 in 2023.
In 2024, a volume growth of 6.6% is expected in the Eyewear market of India.
Furthermore, the volume in this market is expected to increase to 468.10m pieces by 2027.
The average volume generated per person in the market is estimated to be 0.27pieces in 2023.
It is interesting to note that by 2023, 94% of sales in the Eyewear market will be attributable to Non-Luxury.
India has a growing demand for affordable eyewear, with a focus on stylish frames and prescription lenses.a
Exhibiting at IIOO EXPO will put your business at the forefront in South Asia optical market. IIOO EXPO will be a great opportunity for both national & international optical
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