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Summary of our market study
Belgium boasts over 2,000 optical outlets, with a growing trend towards franchising. The majority of eyewear sales are still in the hands of independent entrepreneurs, who account for around 60% of the sector. However, the influence of large conglomerates such as EssilorLuxottica, following the acquisition of GrandVision, is notable.
The global eyewear market, valued at around $138 billion.
Despite a relatively low penetration rate for glasses in Belgium, the Belgian market anticipates growth due to demographic changes and the rise of e-commerce, where online sales have climbed by 17%.
44.9% of those surveyed in a CINT study said they used them. The number of people using both glasses and contacts fell slightly, while those relying solely on glasses saw an increase.
The aging of the population, which is expected to rise from around 18.81% to over 22.34% of people aged 65 or over between 2018 and 2030, suggests that the demand for glasses will increase.
The penetration rate of spectacles on the Belgian market remains relatively low (around 40%)
Belgium imports more eyewear than it exports, with a coverage rate of 53.9%.
Key players in the Belgian eyewear market
- LuxotticaEssilor
- GrandVision: Pearle and GrandOptical brands
- Afflelou
- Hoet Optiek
- Theo a brand present in e-commerce
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Summary and extracts
1 Market summary
1.1 Presentation
The eyewear market includes items and accessories worn on or over the eyes. Eyewear is used for a number of reasons, for example as a fashion adornment, for lack of visual abilities, or for protection.
The three main categories of the eyewear industry indeed include:
- Spectacles
- Sunglasses
- Contact lenses
The industry therefore includes all actors and processes involved in the design, production and retail of eyewear.
Globally, promising projections towards growth of the market are expected. The aging population and consequently development of life expectancy around the world is one of the variables responsible for the positive forecast of a growing number of people needing spectacles. In developed countries, the estimates grow even farther, with around 70% of adults in need of corrective lenses. The latter is reinforced by the rise in disposable income, which is expected to continue to push premiumization of the eyewear industry in all segments, especially among non-corrective glasses.
The Belgian market in the specific is expected to be influenced in addition by the changes in demographics, the channel proliferation (e.g. internet), and emerging fashion trends.
1.2 A global & European context
Eyewear Market Size World, ****-****, in US$ billion Source: ****
The global eyewear market was valued at close to $*** billion in ****. This is a small increase of CAGR *.*% per year since **** according to Euromonitor. The market is projected to experience strong growth of *.*% from **** to **** according to Grandviewresearch. The market is dominated ...
1.3 Domestic market
Today, the Belgian consumer points to a general lack of transparency in the offer offered by the major chains and does not understand the constant price inflation practiced in shops.
To overcome this bad reputation, the APOOB (***) and the Belgian Ministry of Economic Affairs drew up a code of good conduct ...
1.4 International Trade
Trade of Eyewear Belgium, ****-****, in € million and in % Source: ****
Source: ****
The graph above illustrates the trade of eyewear in Belgium. From this, it is evident that Belgium imports more eyewear than it produces and exports. Indeed, the coverage ratio (***) was **.*% in ****, which implies that imports are almost twice as large ...
2 Demand analysis
2.1 Profile Analysis: The Belgian Consumer
Demand Overview
Do you use glasses or contact lenses? Belgium, ****-****, in % Source: ****
In a study by CINT, it was revealed that the majority of Belgian respondents used glasses in **** (***), and *.*% used both glasses and lenses. A mere *.*% used lenses only. Moroever, the number of users of glasses and non-users has ...
2.2 Demand Trends
Google Trends Belgium, ****-****, in units Source: ****
The graph above represents the proportion of searches for a given term in a given region during a specified amount of time, compared to when it was the most searched (***). Thus, a value of ** means that the keyword has been used less often in ...
2.3 A complementary market
Sales of eye care Belgium, ****-*****, in € million Source: ****
The graph above illustrates the market size in Belgium for eye care products, measured through sales. Eye care is the treatment of the eyes, often through industry specialist such as opticians, optometrists, and ophthalmologists. In ****, this market was valued at €**.* million in ...
3 Market structure
3.1 Market Overview
In Belgium, there are just over *,*** optical shops. This number is growing. One of the reasons for this growth can be explained by the ageing population, which is leading more and more people to wear glasses. In recent years, franchising has come to the forefront. According to the Professional Association of ...
3.2 Production
Overview
Production sites of the optics market diverge, from the great leaders established in Belgium to the historical houses and the new brands and start-ups that are emerging. Depending on the range, glasses and lenses are not all manufactured in the same place.
Eyeglasses frames are typically made of either metal ...
3.3 Distribution
Overview
Although the number of players make in the market is fragmented, when looking at sales we find that the market for glasses in Belgium is highly concentrated and, like in many countries in Europe, sales are dominated by EssilorLuxottica. In ****, the company further strengthened its’ position in Europe by acquiring ...
4 Analysis of the offer
4.1 Product Analysis
Overview
Broadly speaking, the three large sectors within the eyewear industry include:
Spectacles (***) Sunglasses Contact lenses
The product offer is broad and is measured according to the different needs of the eyesight. Glasses with different types of lenses, contact lenses, sunglasses with polarizing lenses or different colors for a specific need, ...
4.2 Price Analysis
In the optical sector, price variations are large and depend on different parameters such as the type of glass, quality, place of production, and production line. The distribution channel also plays a part; spectacles can be sold in pharmacies, with opticians, in supermarkets, etc., and most of the time a retailer's ...
4.3 Supply Trends
Customization
A trend impacting both corrective and non-corrective eyewear is the progressive impact personalization has on consumer buying patterns. According to a study by Deloitte one of out of three consumers base their shopping on the ability to personalize a product. The trend is impacting all industries, and it interests in ...
5 Rules and regulations
5.1 Regulation
The requirements for the registration of optician activities in the Crossroads Bank of Companies are as follows:
management knowledge base sectoral professional competence
Sectoral professional competence can be demonstrated in three different ways:
a title article ** of the Royal Decree of **/**/**** determines which titles can be accepted. [***] a professional practice in ...
6 Positioning of the actors
6.1 Segmentation
- Hoet Optiek
- Theo Eyewear
- Essilor Luxottica groupe
List of charts presented in this market study
- Eyewear Market Size
- How many people (approximately) wear spectacles?
- Do you use glasses or contact lenses?
- How often do you visit/consult with an optometrist/opthalmologist (eye doctor)?
- Share of population aged 65 and above
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Latest news
BBGR boosts Seine-et-Marne capacity by 30% to keep pace with growth in Nikon optical lenses - 30/03/2024
- - BBGR is a subsidiary of EssilorLuxottica.
- - The company has specialized in optical lenses for over 170 years.
- - BBGR will increase capacity at its Provins site by 30% from April.
- - The Provins site employs 235 people.
- - The aim of this capacity increase is to meet strong demand for Nikon lenses, produced at Provins since 2016.
- - Since 2016, volumes of Nikon lenses manufactured at Provins have increased 15-fold.
EssilorLuxottica passes the €25 billion sales mark - 15/02/2024
- In 2023, the company spent 1.7 billion euros on R&D between 2020 and 2022, in particular to develop connected and/or hearing glasses. Before the summer, the company will inaugurate an optics laboratory (300 employees) in Wissous (Essonne). In the second half of 2024, its first hearing glasses will be marketed in the United States.
- The product potentially concerns the 1.25 billion people affected by mild hearing loss.
- To integrate a miniature hearing aid into a pair of glasses, the company acquired the Israeli start-up Nuance in 2022.
- Its brand portfolio has expanded to include Moncler, Jimmy Choo, Brunello Cucinelli and Ferrari licenses.
- 18,000 directly-operated stores in 150 countries, including 1,000 in France.
EssilorLuxottica integrates a hearing aid into its glasses - 09/01/2024
- Launch of "Nuance" glasses that act as hearing aids.
- Microphones camouflaged in the frames enable the wearer to concentrate on and amplify the voice of the person speaking
- First equipment with virtually invisible hearing aids
- While 1.6 billion people worldwide suffer from hearing loss, this figure is expected to rise to 2.5 billion by 2050
- Nuance Audio glasses, which will be available in three models, will be sold by hearing aid practitioners, in EssilorLuxottica's distribution network (18,000 stores) and on the Internet.
- Acquisition of Israel-based Nuance Hearing, which has developed a small tabletop device that amplifies sound
In the heart of the Meuse region, Essilor breaks records to produce special ophthalmic lenses - 11/08/2023
- Essilor's SL Lab site merged in 2018 with Italian eyewear manufacturer Luxottica.
- It employs 81 people in the special lenses production unit.
- Each year, they produce around 80,000 ophthalmic lenses, half of which are shipped for export.
- In France, around 1 in 1000 people suffer from extreme visual defects such as myopia or hyperopia.
- It takes three years of compulsory training for employees to become autonomous.
- Since the unit was set up in 2014, 300,000 special lenses have been produced.
Optics: EssilorLuxottica accumulates records - 23/02/2023
- Optical giant's sales to grow by 13.9% in 2022
- North America, its leading market, grew by 4% at constant exchange rates, to almost 11.5 billion euros.
- European momentum is even stronger: +11.2% to 8.7 billion euros
- Asia remains solid
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the eyewear market | Belgium
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