The optimal market situation in China
China is not only the world's leading producer of spectacles, but also the world's largest consumer of spectacles. Consumer groups in China include people of all ages, from children to elderly. According to Euromonitor estimates in 2015, China's optical market's retail sales increased by about 10%, reaching nearly 67.9 billion yuan, while its contact lens' market sales grew more than 10%, reaching 4.2 billion yuan.
The 2014 Ministry of Health and State Ministry of Education shows that China's myopic population exceeds 400 million, with a myopic rate of 33%, 1.5 times higher than the world's average myopic rate of 22%. The optical market in China shows much potential, with predicted myopic rates increasing by about 8% every year. Increased potential for various segmentations of China's optical markets, from customised glasses to titanium glasses, will be discussed below.
With the improvement in living standards, consumers pay more attentio...
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