Photochromic lenses still seen as luxury by consumers
Friday, January 23 2015 | 00 h 00 min | Latest News
Research and Markets predicts the photochromic lenses market should grow at a compound annual growth rate (CAGR) of 7.6% over the period 2014-2019.
The market should grow from $1.2 billion US to $1.7 billion US in five years. North America and Europe account for 70% of global sales. Global key vendors are Transitions Optical/Essilor, Carl Zeiss, Corning, and Rodenstock. In Canada, Transitions, Carl Zeiss, Hoya, and Rodenstock share the market.
Sales of photochromic lenses are highly co-related with economic cycles. Paying for the photochromic option is still perceived as a discretionary expenditure, that customers are less interested in during uncertain economic times.
Availability of counterfeit products coupled with the cost for retailers in regions where the product is less available are hindering market growth. Rapid advances in technology and growing awareness of UV exposure are boosting growth.
The report is available at: http://www.researchandmarkets.com/research/xt5z9g/global