Saudi Arabia Eyewear Market (2024-2030) | Growth, Outlook, Analysis, Value, Size, Industry, Companies, Revenue, Trends, Share & Forecast

Saudi Arabia Eyewear Market Highlights

Report Name	Saudi Arabia Eyewear Market
Forecast period	2024-2030
CAGR	6.2%
Growing Sector	Healthcare

Topics Covered in Saudi Arabia Eyewear Market Report

The Saudi Arabia Eyewear Market Report thoroughly covers the market by Product Type, Mode of Sale and End User. The Saudi Arabia Eyewear Market Outlook report provides an unbiased and detailed analysis of the ongoing Saudi Arabia Eyewear Market trends, opportunities/high growth areas, and market drivers. This would help stakeholders devise and align their market strategies according to the current and future market dynamics.

Saudi Arabia Eyewear Market Synopsis

Saudi Arabia Eyewear Market is set to grow at an unprecedented rate on account of the increasing prevalence of vision-related problems. In addition, increasing disposable income and burgeoning fashion sense in the consumer are propelling market expansion. Major players are focusing on increasing their product portfolio to serve the varying requirements of customers. Moreover, technological advancements in eyewear are also driving the growth of the market. Overall, the Saudi Arabia Eyewear Market offers significant growth and development opportunities.

According to 6Wresearch, the Saudi Arabia Eyewear Market is projected to grow at a CAGR of 6.2% during 2024-2030. One of the key drivers of the Saudi Arabia Eyewear Market is the rising incidence of eye issues in both young and elderly population that has driven demand for corrective lenses. In addition, increasing disposable income and expanding fashion consciousness among consumers are fuelling high-end designer eyewear sales. Furthermore, developments in eye wear technology like blue light filter and anti-glare coating have also increased consumer attention thus widening the market. Moreover, a growing e-commerce industry has enabled access to a range of eyewear products for the consumers and is boosting market growth.

However, the Saudi Arabia Eyewear Market faces many challenges that hinder its growth. The main issue is the heavy import duties levied on eyewear which spikes up prices and prevents vendors as well as buyers’ access to a larger spectrum of quality solutions. Furthermore, the local market suffers from limited advanced optical technology which limits consumers to blue light filtering and adaptive lenses. In addition, low consumer awareness for maintaining eye health, hampers the demand of prescription glasses and preventative eyewear solutions. Moreover, stiff competition from global brands and influx of counterfeit products erodes brand value as well denting prospects for local manufacturers.

Saudi Arabia Eyewear Market: Leading Players

Some of the major players operating in Saudi Arabia Eyewear Market are Alcon, Essilor, Johnson & Johnson, Hoya Corporation and Luxottica Group. These companies have a major presence in the Saudi Arabian market and are constantly innovating and introducing new technologies to meet the growing demand for eyewear in the country.

Saudi Arabia Eyewear Market: Government Initiatives

The Saudi Arabian government has significantly influenced the growth of the Eyewear Market through strategic initiatives. One notable initiative is Vision 2030, which aims to diversify the economy and elevate healthcare services such as eye care. In addition, the Ministry of Health's National Eye Health Program centers on offering accessible eye care to underserved populations, fostering collaborations with private eyewear corporations. Furthermore, the introduction of regulations by the Saudi Food and Drug Authority guarantees high criteria for optical products, cultivating consumer trust.

Future Insights of the Market

The Saudi Arabia Eyewear Market is projected to expand substantially in the coming years. This growth is driven by the rising incidence of vision issues nationwide. In addition, burgeoning fashion consciousness among consumers, paired with increasingly disposable incomes, propel the market forward. Leading companies are strategizing to broaden product selections to satisfy an array of customer demands. Moreover, technological innovations in eyewear are also fuelling market growth. Overall, the future of the Saudi Arabia Eyewear Market looks promising, with many opportunities for growth and development.

Market Segmentation by Product Type

According to Ravi Bhandari, Research Head, 6Wresearch, the prescription glasses/spectacles segment is the dominant segment in the industry and will continue to grow in the coming years. This growth is due to the growing occurrence of vision-related disorders among the elderly population and a rise in awareness regarding eye care.

Market Segmentation by Mode of Sale

Based on Mode of Sale, the retail stores segment is the leading segment in the industry and will continue to grow in the coming years. This can be attributed to the age-old traditional consumer purchasing behaviour where they want to physically try on eyewear products.

Market Segmentation by End User

On the basis of End User, the women segment is the leading segment in the industry and will continue to grow in the coming years. This expansion is due to the rising fashion awareness and significantly higher women's eyewear range on offer compared with men.

Key Attractiveness of the Report

• 10 Years Market Numbers.
• Historical Data Starting from 2020 to 2023
• Base Year: 2023
• Forecast Data until 2030.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

 

Key Highlights of the Report:

• Saudi Arabia Eyewear Market Outlook
• Market Size of Saudi Arabia Eyewear Market, 2023
• Forecast of Saudi Arabia Eyewear Market, 2030
• Historical Data and Forecast of Saudi Arabia Eyewear Revenues & Volume for the Period 2020-2030
• Saudi Arabia Eyewear Market Trend Evolution
• Saudi Arabia Eyewear Market Drivers and Challenges
• Saudi Arabia Eyewear Price Trends
• Saudi Arabia Eyewear Porter's Five Forces
• Saudi Arabia Eyewear Industry Life Cycle
• Historical Data and Forecast of Saudi Arabia Eyewear Market Revenues & Volume By Product Type for the Period 2020-2030
• Historical Data and Forecast of Saudi Arabia Eyewear Market Revenues & Volume By Prescription glasses/spectacles for the Period 2020-2030
• Historical Data and Forecast of Saudi Arabia Eyewear Market Revenues & Volume By Sunglasses for the Period 2020-2030
• Historical Data and Forecast of Saudi Arabia Eyewear Market Revenues & Volume By Contact lenses for the Period 2020-2030
• Historical Data and Forecast of Saudi Arabia Eyewear Market Revenues & Volume By Mode of Sale for the Period 2020-2030
• Historical Data and Forecast of Saudi Arabia Eyewear Market Revenues & Volume By Retail stores for the Period 2020-2030
• Historical Data and Forecast of Saudi Arabia Eyewear Market Revenues & Volume By Online stores for the Period 2020-2030
• Historical Data and Forecast of Saudi Arabia Eyewear Market Revenues & Volume By End User for the Period 2020-2030
• Historical Data and Forecast of Saudi Arabia Eyewear Market Revenues & Volume By Men for the Period 2020-2030
• Historical Data and Forecast of Saudi Arabia Eyewear Market Revenues & Volume By Women for the Period 2020-2030
• Saudi Arabia Eyewear Import Export Trade Statistics
• Market Opportunity Assessment By Product Type
• Market Opportunity Assessment By Mode of Sale
• Market Opportunity Assessment By End User
• Saudi Arabia Eyewear Top Companies Market Share
• Saudi Arabia Eyewear Competitive Benchmarking By Technical and Operational Parameters
• Saudi Arabia Eyewear Company Profiles
• Saudi Arabia Eyewear Key Strategic Recommendations

Markets Covered

The report offers a comprehensive study of the subsequent market segments:

By Product Type

• Prescription glasses/spectacles
• Sunglasses
• Contact lenses

By Mode of Sale

• Retail stores
• Online stores

By End User

• Men
• Women