Slight Growth in Canada's Optical Industry

Slight Growth in Canada’s Optical Industry

Wednesday, January 21 2015 | 00 h 00 min | Latest News

From 2009 to 2014, the Canadian optical industry reported an average annual growth of 0.6%, including a 0.2% rise in 2014, according to IBISWorld.

The trend should continue over the next five years, the firm says. Canada’s industry revenue is expected to grow to CAN$1.9 billion. In 2014, contact lenses made up 28.7% of total revenue, with frames accounting for 32.4%.

A number of factors contribute to this growth:

The ageing population increases the number of visits to optometrists;

Consumers think of their frame as a fashion accessory, which means shorter replacement cycles and a rise in the sales of luxury frames;

Provincial regulations make life more difficult for online eyewear retailers and protect the market share of opticians and optometrists (everywhere but in British Columbia).

For further information: http://www.ibisworld.ca/industry/eye-glasses-contact-lens-stores.html

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Slight Growth in Canada’s Optical Industry

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