NewsVoir
New Delhi [India], March 23: In-Optics, India's oldest and largest B2B International Exhibition of eye care industry has been a beacon of progress for the Indian optical market for over four decades. With over 200 exhibitors from India and overseas representing more than 1500 brands, the 16th edition of In-Optics took place recently at Yashobhoomi, the Indian International Convention and Expo Centre (IICC), Dwarka, New Delhi. The exhibition, organized by RSD Expositions in association with The Indian Optician magazine, was visited by over 12,000 members of the industry.
"Indian Eyewear market is growing at a very fast rate. This growth is driven by an increasing number of people requiring vision correction due to aging populations, increasing screen time, and changing consumer preferences, such as an increasing focus on health and wellness, and a growing awareness of the importance of preventive eye care. Furthermore, the market is being impacted by changing fashion trends, with consumers looking for eyewear products that are both functional and fashionable. Also the rising e-commerce sector has led to the growth," says Harish Kumar, CEO, RSD Expositions.
According to Statista.com, the statistics portal for market data, estimated revenue generation of Indian Eyewear market in 2024 is US$6.10bn and the market is anticipated to grow at an annual rate of 7.54%, representing a compounded annual growth rate (CAGR) between 2024 and 2028. The largest segment in this market is Spectacle Lenses, which is projected to have a market volume of US$2.76bn in 2024. The Eyewear segment includes contact and cosmetic lenses, spectacle frames, sunglasses, spectacle cases, ophthalmic lenses and machinery, new technologies, processes and services, eye testing and other equipment.
The exhibition saw participation of leading players of the industry from Germany, Japan, Italy, France and other parts of the world along with players from India. Many deals were struck and collaborations entered into at the fair.
"In a country, where 30 crore of the population needs vision correction and only 12 crore use glasses, there's lies a huge market opportunity. As the world is looking for an alternate to China, India is becoming the favored destination for manufacturing and R&D hub for international players. In-Optics has been a catalyst in the growth journey of India's optical sector and has provided a perfect platform to both national and international players for trade, collaborations and learning. It is one of the most highly anticipated and best-attended shows in the world, and has been ranked sixth among other prestigious exhibitions including MIDO, SILMO, CIOF, SIOF etc.," adds Kumar.
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