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Eyewear Malaysia

valid until: 10 Jan 2023date published: 10 Jan 2022

Malaysian eyewear is on the rise and expected to expand at a 5.4% annual growth rate over five years. Between 2012 and 2015 retail sales increased by 45%. By 2022, growth is expected to be 9.7%. This report provides detailed data on market trends and company shares as well as distribution data. You will also find key statistics and analysis.The Malaysia eyewear market is characterized by rapid growth. This market reached a value of $2.5 billion in 2016, and it is predicted to expand at the same rate for the next several years. This market is driven by the increasing prevalence of myopia, the aging population and other factors. However, the acceptance of contacts as well as stabilization in demand for sunglasses and lenses are also key drivers. Market drivers aside, big players will keep attracting customers using innovative marketing strategies.The Malaysian market for eyewear is expected to continue growing despite the new technologies. LASIK surgery has gained popularity and has the potential to drastically change the industry. The rapidly-evolving vision correction surgical technologies are expected to impact the industry, decreasing demand for prescription eyewear, frames, and contact lenses. Large companies are now offering their products online because of increasing internet penetration. From 2011 to 2022, the Malaysian eyewear market will grow at a 6% annual rate.

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