Frost & Sullivan releases the 'White Paper on China's Optical Lens Industry'

In recent years, with the improvement of consumers' purchasing power and increasing diversification of consumer demand, the market scale of the lens industry has been steadily growing. From 2018 to 2023, China's lens retail sales increased from 28.09 billion yuan to 34.81 billion yuan, with an annual compound growth rate of about 4.4%. In 2020, offline lens retail channels were hit, with retail sales declining by 9.0% year-on-year. Due to the rigid demand characteristics of the lens industry, after the improvement of the pandemic in 2021, pent-up demand erupted, and the lens industry continued to grow in the following years. With the trend of consumption upgrading and increased demand for functional lenses, it is expected that lens retail sales will continue to grow in the next five years, presenting a broad market prospect. For this reason, based on research into the market, Frost & Sullivan (Frost & Sullivan) has released the 'White Paper on the Chinese Glasses Lens Industry'.