Mintel gives optics a clean bill of health

The optical market will avoid sinking into recession according to market research company Mintel's flagship report.

Among the findings in the Miscellany section of its report on British Lifestyles are predictions that the optical goods market for 2009 will be £2.965bn at current prices, £28m more than 2008. Mintel forecasts the market rising to be worth £3.037bn at current prices in 2010, £3.190bn in 2011 and £3.753bn in 2014.

Suppliers of optical goods are expected to counter the slowdown attributed to generally flat demand and downward pressure on prices due to intensifying competition by increasing the pace of new product development, especially at the premium end.