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Photographic and Optical Goods Manufacturing in Australia Industry Data and Analysis
Photographic and optical goods manufacturers have faced a challenging environment in recent years, marked by a significant decline in revenue. According to ABS data, the sector saw an 8.4% decrease in revenue over the two years through 2021-22, with the onset of COVID-19 exacerbating the downturn. Lockdowns and trading restrictions severely impacted the industry, particularly affecting optometrists and ophthalmologists, key markets for this sector. The pandemic led to reduced testing services and curtailed demand for essential products like spectacles and contact lenses. Even as restrictions eased, persistent cost-of-living pressures and sluggish income growth have hindered a full recovery, with consumers favouring mid-priced options over luxury goods. Combined, these factors are fuelling an annualised decline in revenue of 2.7% over the five years through 2024-25 to $300.2 million. This includes an anticipated climb of 1.9% in the current year, owing to continued demand from optometry and optical dispensing and increased public health expenditure.
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What's included in this industry analysis
IBISWorld's research coverage on the Photographic and Optical Goods Manufacturing industry in Australia includes market sizing, forecasting, data and analysis from 2015-2030. The most recent publication was released May 2025.
About this industry
What's this industry report about?
The Photographic and Optical Goods Manufacturing industry in Australia operates under the ANZSIC industry code C2411. Industry firms manufacture photographic equipment and optical instruments and equipment. The industry also includes optical lens grinders and manufacturers of ophthalmic goods such as contact lenses, sunglasses, spectacle frames and sunglass frames. Related terms covered in the Photographic and Optical Goods Manufacturing industry in Australia include glaucoma, lasik, orthokeratology and ophthalmic equipment.
What's included in this industry?
Products and services covered in Photographic and Optical Goods Manufacturing industry in Australia include Glass and contact lenses, glasses frames and sunglasses, Microscopes, telescopes, binoculars and parts and Cameras, projectors, and parts.
What companies are included in this industry?
Companies covered in the Photographic and Optical Goods Manufacturing industry in Australia include Lumibird Medical Australia, Redflex Holdings and Gelflex Laboratories.
Performance
What's included in the Performance chapter?
The Performance chapter covers detailed analysis, datasets, detailed current performance, sources of volatility and an outlook with forecasts for the Photographic and Optical Goods Manufacturing industry in Australia.
Questions answered in this chapter include what's driving current industry performance, what influences industry volatility, how do successful businesses overcome volatility, what's driving the industry outlook. This analysis is supported with data and statistics on industry revenues, costs, profits, businesses and employees.
Products & Markets
What's included in the Products and Markets chapter?
The Products and Markets chapter covers detailed product and service segmentation, analysis of major markets and international trade data for the for the Photographic and Optical Goods Manufacturing industry in Australia.
Questions answered in this chapter include how are the industry's products and services performing, what are innovations in industry products and services, what products or services do successful businesses offer and what's influencing demand from the industry's markets. This includes data and statistics on industry revenues by product and service segmentation and major markets.
Geographic Breakdown
What's included in the Geographic Breakdown chapter?
The Geographic Breakdown chapter covers detailed analysis and datasets on regional performance of the Photographic and Optical Goods Manufacturing industry in Australia.
Questions answered in this chapter include where are industry businesses located and how do businesses use location to their advantage. This includes data and statistics on industry revenues by location.
Competitive Forces
What's included in the Competitive Forces chapter?
The Competitive Forces chapter covers the concentration, barriers to entry and supplier and buyer profiles in the Photographic and Optical Goods Manufacturing industry in Australia. This includes data and statistics on industry market share concentration, barriers to entry, substitute products and buyer & supplier power.
Questions answered in this chapter include what impacts the industry's market share concentration, how do successful businesses handle concentration, what challenges do potential industry entrants face, how can potential entrants overcome barriers to entry, what are substitutes for industry services, how do successful businesses compete with substitutes and what power do buyers and suppliers have over the industry and how do successful businesses manage buyer & supplier power.
Companies
What's included in the Companies chapter?
The Companies chapter covers Key Takeaways, Market Share and Companies in the Photographic and Optical Goods Manufacturing industry in Australia. This includes data and analysis on companies operating in the industry that hold a market share greater than 5%.
Questions answered in this chapter include what companies have a meaningful market share and how each company is performing.
External Environment
What's included in the External Environment chapter?
The External Environment chapter covers Key Takeaways, External Drivers, Regulation & Policy and Assistance in the Photographic and Optical Goods Manufacturing industry in Australia. This includes data and statistics on factors impacting industry revenue such as economic indicators, regulation, policy and assistance programs.
Questions answered in this chapter include what demographic and macroeconomic factors impact the industry, what regulations impact the industry, what assistance is available to this industry.
Financial Benchmarks
What's included in the Financial Benchmarks chapter?
The Financial Benchmarks chapter covers Key Takeaways, Cost Structure, Financial Ratios, Valuation Multiples and Key Ratios in the Photographic and Optical Goods Manufacturing industry in Australia. This includes financial data and statistics on industry performance including key cost inputs, profitability, key financial ratios and enterprise value multiples.
Questions answered in this chapter include what trends impact industry costs and how financial ratios have changed overtime.
Industry Data
What's included in the Industry Data chapter?
The Industry Data chapter includes 10 years of historical data with 5 years of forecast data covering statistics like revenue, industry value add, establishments, enterprises, employment and wages in the Photographic and Optical Goods Manufacturing industry in Australia.
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Frequently Asked Questions
What is the market size of the Photographic and Optical Goods Manufacturing industry in Australia in 2026?
The market size of the Photographic and Optical Goods Manufacturing industry in Australia is $300.2m in 2026.
How many businesses are there in the Photographic and Optical Goods Manufacturing industry in Australia in 2025?
There are 161 businesses in the Photographic and Optical Goods Manufacturing industry in Australia, which has grown at a CAGR of 4.1 % between 2020 and 2025.
How may import tariffs affect the Photographic and Optical Goods Manufacturing industry in Australia?
The Photographic and Optical Goods Manufacturing industry in Australia is likely to be significantly impacted by import tariffs with imports accounting for a high share of industry revenue.
How may export tariffs affect the Photographic and Optical Goods Manufacturing industry in Australia?
The Photographic and Optical Goods Manufacturing industry in Australia is likely to be significantly impacted by export tariffs with exports accounting for a high share of industry revenue.
Has the Photographic and Optical Goods Manufacturing industry in Australia grown or declined over the past 5 years?
The market size of the Photographic and Optical Goods Manufacturing industry in Australia has been declining at a CAGR of 2.7 % between 2020 and 2025.
What is the forecast growth of the Photographic and Optical Goods Manufacturing industry in Australia over the next 5 years?
Over the next five years, the Photographic and Optical Goods Manufacturing industry in Australia is expected to grow.
What are the biggest companies in the Photographic and Optical Goods Manufacturing industry in Australia?
The biggest companies operating in the Photographic and Optical Goods Manufacturing industry in Australia are Lumibird Medical Australia, Redflex Holdings and Gelflex Laboratories
What does the Photographic and Optical Goods Manufacturing industry in Australia include?
Microscopes, telescopes, binoculars and parts and Glass and contact lenses, glasses frames and sunglasses are part of the Photographic and Optical Goods Manufacturing industry in Australia.
Which companies have the highest market share in the Photographic and Optical Goods Manufacturing industry in Australia?
The company holding the most market share in the Photographic and Optical Goods Manufacturing industry in Australia is Lumibird Medical Australia.
How competitive is the Photographic and Optical Goods Manufacturing industry in Australia?
The level of competition is high and increasing in the Photographic and Optical Goods Manufacturing industry in Australia.
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