Sales of spectacles in the Philippines are projected to continue growing at a healthy pace in value and volume terms over the forecast period. This should be supported by an improving economic outlook, population growth, urbanisation, and an increasing prevalence of eye health conditions such as myopia and presbyopia.
More consumers, especially those with good financial resources, are becoming increasingly conscious about the wider impact of their purchasing decisions, especially with regard to sustainability. In the Philippines, these concerns have been amplified by legal regulations, such as the continuous implementation of the Extended Product Responsibility Act of 2022 by the Department of Environmental and Natural Resources.
As competition continues to grow among new and more established brands, manufacturers are expected to maintain their focus on innovation. This is likely to include products that offer more technologically advanced features, such as spectacle lenses for consumers whose eye health is suffering as a direct result of their increasing amount of time spent in front of electronic screens.
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Understand the latest market trends and future growth opportunities for the Spectacles industry in Philippines with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Spectacles industry in Philippines, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Spectacles
This is the aggregation of spectacle frames, spectacle lenses and readymade reading glasses.
See all of our definitionsThis report originates from Passport, our Spectacles research and analysis database.
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