COMPETITIVE LANDSCAPE
Thai PD Chemicals Co Ltd recorded the strongest increase in value share to reach 32%, allowing it to consolidate its leadership of eye care in 2014, gained over the review period through a comprehensive portfolio of brands and products. Furthermore, the established presence of the player earned strong consumer trust in the product quality offered.
Domestic manufacturers led eye care in 2014, accounting for the top three positions with a 66% value share. A wide portfolio of brands and products over the review period helped them to garner consumers’ strong confidence in the product quality offered. The competitive pricing of domestic brands also saw them retain consumer interest, thus forming a strong barrier to international brands gaining a significant foothold.
Private label products saw a negligible in presence in 2014, as consumers still preferred branded products due to their perceived higher quality. Moreover, consumers were cautious about eye care brands given their direct contact with the eyes, thus they still preferred branded products.
PROSPECTS
Eye care is expected to retain a positive constant value performance over the forecast period, though at a slower rate compared with 2014. Expected improvement in the employment rate for Thailand over the forecast period will see many consumers still having to face computers for prolonged periods, resulting in a high incidence of dry eyes. Additionally, Thailand’s pollution level is likely to remain high and will continue to contribute to eye discomfort for consumers.
With dry eyes being a minor ailment, consumers are thus willing to self-medicate with eye care products such as eye drops or eye wash. This is also the same to reduce eye discomfort resulting from pollution. Standard eye care is thus projected to continue leading ahead of allergy eye care in terms of constant value growth over the forecast period.