- Cosmetic contact lenses are available in many colors in the market. These lenses are designed to intensify or change the eye color.
- Large number of consumers use cosmetic contact lenses during theatrical activity, Halloween, and during other events where colored eyes are required. In most countries, consumers need a valid prescription to purchase cosmetic contact lenses, even if they are buying zero power products.
Key Drivers of the Global Cosmetic Contact Lenses Market
- Increasing adoption of cosmetic lenses coupled with growing fashion trends are majorly driving the growth of the market. Availability of stylish products in local markets with different attractive shades, colors, and textures to enhance eye appearance is working as a favorable factor for the cosmetic contact lenses market.
- High social media penetration coupled with high investment in search engine optimization and social media optimization by key market players are expected to boost the market growth in the coming years.
Availability of Contact Lenses with Multiple Colors to Create Significant Opportunities
- Key companies have started offering multiple colored contact lenses (hazel, blue, violet, green, grey, brown, and amethyst) which attracts more customers to purchase their product. Growth in the eyewear industry is also set to create new opportunities in this market.
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Increasing Manufacturing Cost to Hamper the Global Cosmetic Contact Lenses Market
- Change in raw material cost and high manufacturing cost are major challenges in the cosmetic contact lenses market. Excessive risk pertaining to sensitive eye wear products may slow down the market growth.
Europe Accounted for Highest Market Share
- Europe was the market leader in the cosmetic skin care market in 2018. High demand for fashion and apparel in key markets including Germany, France, and the U.K. is propelling the market growth. Cosmetic contact lenses have huge acceptance among movie actors, fashion models, and singers. Millennial population prefer to use this product to enhance their fashion quotient which is expected to augment the growth of the Europe cosmetic contact lenses market over the forecast period.
- The market in Asia Pacific is expected to grow at a higher pace in the coming years. Significant adoption of this product in China, India, Taiwan, Japan, and South Korea is driving market growth.
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Key Players Operating in the Global Market
The global cosmetic contact lenses market is fragmented in nature. Large number of small-scale manufacturers are present in this market. Key market participants are signing strategic partnerships and engaging in mergers and acquisitions to consolidate their presence in the global market. Moreover, cosmetic contact lenses companies are investing in infrastructure improvement to compete in the market. Key players operating in the global cosmetic contact lenses market are listed below:
- CooperVision
- Johnson & Johnson Vision Care
- CIBA Vision
- Bausch & Lomb
- GrandVision
- InnoVision Co Ltd
- Novartis
- QualiMed
- Viewell Inc.
- Lagado Corp.
- Metro Optics
- Maxvue Vision
- Jilin Realcon Contact Lens Co. Ltd.
- Beijing Realcon Optical Lens Co. Ltd.
- Guangzhou Winis Import & Export Co. Ltd.
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