Indian Eyewear Market to Double to $17.2 Billion by 2030: Lenskart
Lenskart Solutions Ltd. sees the Indian eyewear market doubling to $17.2 billion from the current $9.2 billion by 2030, steered forward by growth in active eyewear users, accessible eye testing infrastructure, rising first-time eyewear customers, purchase frequency, along with demand for prescription eyewear in the coming five years.
Growth Drivers of the Indian Eyewear Market
The growth of the Indian eyewear market can be attributed to several factors, including the increasing awareness about eye care and the rising demand for prescription eyewear. Additionally, the growth in the number of first-time eyewear customers and the increasing purchase frequency are also expected to drive the market growth. To learn more about the Indian stock market news, visit our website.
Accessible Eye Testing Infrastructure
Lenskart has made eye testing more accessible, conducting over 13 million eye tests in FY25, more than double the number of tests conducted in FY23. The company has already reached 9.3 million tests in the first half of the current fiscal, with 46% of these tests being first-time eye tests. This trend indicates that people are discovering the need for vision correction for the first time, representing new demand creation rather than market share capture.
Role of AI in Enhancing Customer Experience
Lenskart’s CEO, Peyush Bansal, highlighted the role of AI in enhancing customer experience through AI-led eye testing, self-test kiosks, mobile testing tools, store location intelligence, and computer vision for optimized layouts. The company is also launching its smart eyewear, ‘B by Lenskart Smart Glasses’, powered by AI and Snapdragon, which is expected to lead the next wave of consumer technology in India. For more information on Indian business news, click here.
Financial Performance of Lenskart
Lenskart reported a net profit of Rs 102 crore in the second quarter of fiscal 2026, a 19.6% increase from the year-ago period. The company’s revenue grew 20.8% to Rs 2,096 crore, with growth in both Indian and international segments. The active transacting customer accounts increased 23.2% to 48 lakh during the quarter, compared to 39 lakh a year ago.
Future Plans and Vision
Lenskart’s CEO, Peyush Bansal, outlined the company’s future plans and vision, which include taking Lenskart deeper into India and Asia, launching B Smart Glasses from India in Q4 FY26, and staying obsessed with the simple idea of vision for a billion. To stay updated with the latest stock market trends, visit our website regularly.