Vietnam Eye care and Product Market Overview, 2029

Vietnam’s eye care and product industry is experiencing significant growth, driven by increasing awareness of eye health and a rising demand for quality vision care products. This burgeoning sector encompasses a wide range of products and services designed to address various ocular needs, from everyday eye care to specialized treatments. As more people move to urban areas and spend extended periods using digital devices, the incidence of eye strain and related issues rises. This has heightened demand for eye care products and services. There is a growing awareness about the importance of eye health, driven by public health campaigns and increased access to information. This awareness is encouraging individuals to seek regular eye exams and invest in quality eye care products. Vietnam’s aging demographic is contributing to the demand for ocular pharmaceuticals and specialized eye care services. Older adults are more likely to experience vision problems and require treatments for age-related conditions. As Vietnam’s economy continues to grow, disposable incomes are rising, allowing more consumers to invest in premium eye care products and services. International companies such as Luxottica, Johnson & Johnson, and Essilor dominate the market with their established brands and extensive product ranges. These companies benefit from their global expertise and advanced technologies. Vietnamese companies are also making significant strides, offering products tailored to local preferences and needs. They often compete on price and customization, catering to specific consumer demands. According to the research report "Vietnam Eye Care and Products Market Overview, 2029," published by Bonafide Research, the Vietnam Eye Care and Products market is anticipated to grow at more than 7.81% CAGR from 2024 to 2029. The industry is benefiting from technological innovations that enhance the quality and effectiveness of eye care products. Advances in lens technology, such as high-definition and progressive lenses, are improving visual clarity and comfort. Similarly, the development of smart eyewear and wearable technology is opening new avenues for the market. With the rise of digital devices and prolonged screen usage, there is a growing concern about digital eye strain. This has led to increased demand for products like blue light blocking lenses and digital eye strain relief drops. Companies are also introducing products with features that help mitigate the effects of prolonged screen exposure. There is a shift towards preventive eye care as consumers become more proactive about maintaining their vision health. This trend is driven by increased awareness of eye conditions and the availability of preventive products such as nutritional supplements and advanced diagnostic tools. As health consciousness grows among Vietnamese consumers, there is an increased focus on holistic well-being, including eye health. This has led to greater adoption of products that promote overall ocular health and wellness. Major retail chains like Lotte Mart and Aeon Mall, as well as online platforms such as Shopee and Lazada, play a crucial role in distributing eye care products. Their extensive reach and convenience enhance consumer access to a wide range of products.

Vietnam's eye care and product market is a vibrant and multifaceted segment of the beauty and personal care industry, reflecting diverse consumer preferences and evolving trends. Within this market, eye care products represent a foundational category, encompassing essential items such as lubricating eye drops, eye creams, and treatments designed to address issues like dryness, puffiness, and dark circles. Complementing these are eye makeup products, which cater to a wide range of cosmetic needs. Eye liners and pencils are popular for their versatility and precision, allowing users to define their eyes with varying levels of intensity and style. Eye shadow products, available in numerous colors and formulations, enable individuals to create diverse looks, from subtle to dramatic, enhancing the eyes' appearance and complementing their overall makeup. Mascara is another key product, essential for lengthening, volumizing, and defining lashes, and is a staple in many beauty routines. Additionally, the market includes other eye makeup products such as eyebrow gels, primers, and removers, which enhance the overall eye makeup experience by providing grooming, setting, and cleansing solutions. The premium segment includes high-end eye care products and luxury cosmetics that offer advanced formulations and prestigious brands. These products often feature innovative technologies, high-quality ingredients, and exclusive packaging, appealing to consumers who prioritize both effectiveness and prestige. In the mid-range category, consumers find a broad selection of reliable and effective eye care solutions and cosmetics that balance quality and affordability. Mid-range products offer good performance and value, with reputable brands providing accessible yet high-quality options for everyday use. The economy segment addresses budget-conscious consumers seeking basic and functional eye care and makeup products. These items are typically priced lower, focusing on affordability while still meeting essential needs. In Vietnam's eye care and product market, distribution channels are increasingly distinguished between offline and online platforms, each offering unique advantages and catering to different consumer behaviours. Offline retail remains a crucial component of the market, with physical stores such as pharmacies, optical shops, and department stores serving as traditional points of purchase. These venues provide consumers with the opportunity to physically inspect products, receive personalized advice from sales representatives, and immediately access items like eye care solutions, prescription eyewear, and cosmetics. Offline stores also play a key role in offering specialized services, such as eye exams and fittings, which are essential for products like prescription glasses and contact lenses. Conversely, the online segment is rapidly expanding, driven by the convenience of digital shopping and the growing popularity of e-commerce platforms. Online retailers, including major e-commerce websites and dedicated beauty and health stores, offer a wide range of eye care and makeup products with the added benefits of home delivery and easy price comparison. This channel is particularly appealing to tech-savvy consumers who prefer the convenience of shopping from home and accessing detailed product information and reviews. The rise of online shopping also enables niche and international brands to reach Vietnamese consumers more effectively. Considered in this report • Historic year: 2018 • Base year: 2023 • Estimated year: 2024 • Forecast year: 2029

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Manmayi Raval

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Aspects covered in this report • Eye Care and Products market Outlook with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Product Type • Eye care product • Eye Liners/Pencils • Eye Shadow • Mascara • Other Eye Makeup Products By Pricing • Premium • Mid-range • Economy

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By Distribution Channel • Offline • Online By Offline Channel • Supermarket/Hypermarket • Pharmacies/Drugstores • Specialty Store • Department Store • Optical Stores • Beauty Salons By Consumer Group • Women • Men The approach of the report: This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations, and organizations related to the Eye Care and Products industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.