Did you know?... Thailand optics market

Did you know?... Thailand optics market

• Thailand is the world’s largest manufacturer of optical lenses with 22% of global market share.

• Over 800 to 900 million optical lenses produced annually.

• Number of Optical Shops in Thailand is 15,000 stores including chain stores and individual optical stores.

• The number of opticians in Thailand is 1,530 and most opticians work as business owners and work on eye testing, frame sales frame and lens, including contact lens, and frame repairs.

• There is a rising demand for eye care and visual correction.

• Population of ASEAN is estimated at 668,560,000 comprising a large population from the age group of 20 to 54 years which is accounted to over 50% of the total population. 50% of ASEAN population need glasses by 2050.

• Consumers in Southeast Asia spend more time on the mobile internet than any other market. On average, consumers in Southeast Asia spend 3.6 hours per day on the mobile internet. Thailand leads the pack with 4.2 hours per day, this digitalization behaviour is causing higher rates of myopia and presbyopia with more consumers suffering from visual impairment and eye disorders. Demand for eyewear has increased over years.

• Fashion is currently ranked third in spending after travel, health and beauty. More than half of the respondents in ASEAN indicated that they will continue to spend more on fashion items in the next two years.

• The luxury eyewear segment itself take up 25% of the entire eyewear market share in Thailand due to rise of middle and high income segment from Thailand with the push of Thai government in positioning the Nation as the luxury Retail paradise with tax exemption policy. Total expenditure of international luxury brands reaches 2.5 Billion USD in 2014.

The IOA will be joining SILMO Bangkok in June for its 3rd optical fair as part of the IOA Summit 2020. We will be hosting a one-day conference SILMO Academy and you can join us.

Find out more about the IOA Summit here.

Find out more about SILMO Bangkok here.

Topics: Country spotlight, IOA Summit