India CR39 Eyeglasses Market Forecasts to 2021 – High Prevalence of Impaired Vision and Increasing Awareness to Fuel Growth
India CR39 Eyeglasses Market Forecasts to 2021 – High Prevalence of Impaired Vision and Increasing Awareness to Fuel Growth” provides a comprehensive analysis of the CR39 eyeglasses market. The report includes the market share contributed by imports and domestic production in India. Further, the market in the study is differentiated by various parameters such as uses which include single vision lenses, bifocal lenses, trifocal lenses, progressive lenses, plastic occupational lenses, and no-line computer lenses. On the basis of type of frame, CR39 eyeglasses market is categorized into full frame, half frame and rimless frames. The market is also segmented by five regions of India – North, South, East, West and Northeast and by three type of cities including Tier I cities, Tier II cities, and Tier III cities. The study also highlights the detailed information about domestic manufacturers in the India CR39 eyeglasses market and their respective shares by revenue in financial year 2016. Investment model for manufacturing plant of CR39 eyeglasses and value chain is also explained in detail to assist new entrants in setting up a new plant in India. Various marketing analysis factors such as drivers and restrains, trends and developments, online trends affecting the market and Porter’s five forces analysis are also added in the study for clear understanding about the factors responsible for present scenario of the market. The future analysis of overall India CR39 eyeglasses market has also been discussed along with recommendations from analyst view.
India CR39 Eyeglasses Market
India has the maximum number of people with vision impairment in the world. High population coupled with elevated incidence rate of vision irregularities is the major factor which has resulted in high demand for prescription eyeglasses and consequently CR39 eyeglasses market. Rising awareness about safety healthcare, accelerating problem of age related macular degeneration in old age people, increased per capita income which allow people to buy expensive CR39 eyeglasses over glass material are further expected to fuel the CR39 eyeglasses market in India. The market for CR39 eyeglasses was worth INR ~ million in FY’2016, which increased from INR ~ million in FY’2011 at a CAGR of ~%. Less awareness among the people is the major factor which has led to the demand gap in India. It has been experienced that in Southeast region demand for CR39 eyeglasses is ~% less than supply in FY’2016. However, in metro regions, the supply is approximately ~% more than demand owing to the high presence of market players in these regions leading to saturation of market.
Trade Scenario for CR39 Eyeglasses Market
India is import driven market for CR39 eyeglasses with ~% of the revenue from the imported products. It has been observed that CR39 eyeglasses of worth INR ~ million were imported from foreign countries in FY’2016 owing to their less price and unavailability of CR39 eyeglasses in comparative prices by domestic manufacturers. China is the major import destination for India with contribution of ~% to the total imported value owing to approximately ~% lower cost than domestically manufactured CR39 eyeglasses. Patparganj discharge post based in Delhi received the highest imports of CR39 eyeglasses, in terms of value owing to easy distribution from the location. The domestic manufacturers from India are also actively exporting CR39 eyeglasses to western countries increasing the export value from INR ~ million in FY’2015 to INR ~ million in FY’2016.
CR39 Eyeglasses Market Segmentation
By uses, single vision lenses dominated the CR39 eyeglasses with revenue share of ~% of the total market in FY’2016. High prevalence of myopia among youths and children in India is the major factor which has led to the high demand for single vision lenses. Progressive lenses, on other hand, recorded high growth from FY’2011 to FY’2016 with revenue share increasing from ~% in FY’2011 to ~% in FY’2016, at a CAGR of ~%. By type of frames, Full frame eyeglasses majorly dominate the market with revenue share of ~% in FY’2016. Durability of these frames, capability to hold heavy weight lenses, and low cost of these frames are the major factors which contribute towards its high demand.
CR39 eyeglasses market in India is observed to be highly concentrated with the presence of few players capturing major share of the market. GKB Ophthalmics Ltd., Zeiss India, and Techtran Polylenses were observed to operate in the CR39 eyeglasses market and held ~% of the share of domestically produced CR39 eyeglasses market in FY’2016. GKB Ophthalmics Ltd. among them is leading CR39 Eyeglasses Market in India majorly due to trust factor associated with the company being domiciled in India. Additionally, the acquisition of GKB Vision Ltd. stake by Essilor also resulted in availability of Essilor brands under GKB Ophthalmics Ltd. In FY’2016, GKB Ophthalmics Ltd. accounted for ~% of total revenue share in domestically produced CR39 Eyeglasses Market.
Key Topics Covered in the Report:
- The market size of India CR39 Eyeglasses Market
- Market segmentation of India CR39 Eyeglasses market on the basis of Imports and Domestic Production, by Uses, by Type of Frame, by Organized and Unorganized Players, by Regions, and by Cities
- Porter’s Five Forces Analysis for India CR39 Eyeglasses Market
- Trends and Developments in India CR39 Eyeglasses Market
- Strengths and Restrains in India CR39 Eyeglasses Market
- Investment Model of CR39 Eyeglasses Manufacturing Plant in India
- Trade Scenario for CR39 Eyeglasses Market in India
- Purchase Decisions Regarding Eyewear in India
- Competitive Landscape and Detailed Company Profiles of the Major Market Players
- Future Outlook and Projections of India CR39 Eyeglasses Market
- Analyst Recommendations
- Macro-Economic Factors Impacting the India CR39 Eyeglasses Market
Ankur Gupta, Head Marketing & Communications