The import forecast for spectacle lenses of materials other than glass to India indicates steady growth from 2024 to 2028, increasing from $170.41 million to $200.05 million. Compared to the preceding years, this trend shows a consistent upward trajectory. In 2023, the imports of these lenses were valued at approximately $162 million, highlighting a positive year-on-year growth rate in the following five years. The last two years show a yearly average growth of nearly 4-5%, while the compound annual growth rate (CAGR) from 2024 to 2028 is expected around 4.11%.
Future trends to monitor include technological advancements in lens materials that could influence demand, fluctuations in global trade policies impacting import costs, and the rise in digital strain on eyes leading to higher consumption of spectacle lenses in India.
