Nigeria Eyewear Market (2020-26) | COVID-19 IMPACT, Trends, Industry, Outlook, Value, Companies, Analysis, Forecast, Share, Revenue, Size & Growth

Nigeria Eyewear Market report thoroughly covers market by products, types, distribution channels, and regions. Nigeria Eyewear market outlook report provides an unbiased and detailed analysis of the on-going Nigeria Eyewear market trends, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

Nigeria Eyewear Market Synopsis

Nigeria Eyewear Market witnessed a moderate growth during the period 2016-2019 due to the rising consumer consciousness and increasing middle class population that is leading to increased spending on fashion products. Furthermore, rising concerns for quality products for vision correction coupled with increased brand consciousness amongst the consumers are some of the factors driving the growth of the Nigeria eyewear market. Additionally, the pandemic COVID-19 hit the country in 2020, due to which lockdown was imposed in the country and several other countries as well which resulted in supply chain disruptions, thereby, leading to a slowdown in market growth. Furthermore, the closure of markets across the country also had an adverse impact on the market demand. However, recovery is expected in the market owing to increase in digitalization and work from home policy adopted by most of the companies, prompting increased usage of electronic devices, thus, fostering the demand for anti-glare eyewear products for eye protection. The market has seen a halt owing to the massive outbreak of COVID-19 which resulted in nationwide lockdowns to combat the spread of the virus and has led to a decline in the overall market growth.

According to 6Wresearch, Nigeria Eyewear Market size is projected to grow at CAGR of 4.3% during 2020-2026. The primary reason for growth in the Nigeria eyewear industry can be attributed to the higher proportion of young and middle-aged people in the overall population, along with rising screen time of both working population and children. Moreover, the increase in air pollution and high UV rays penetrating the atmosphere would further augment the demand for protective glasses in the forthcoming period, owing to increasing awareness among people regarding their health. Additionally, with rapid urbanization and increasing internet penetration, there has been a tremendous increase in online shopping, online gaming and trading along with online studying and working as well, leading to eye strains as a result of the blue light of the electronic screens, which would further enhance the need for protective glasses and spectacles in the coming years.

Market Analysis by Product

On the basis of product, spectacles dominated the Nigeria eyewear market in 2019 as a result of increased exposure to smartphones, laptops and computer screens due to the changing lifestyle and technological advancement. However, the market demand for sunglasses is anticipated to grow at a faster pace in the coming years underpinned by rising fashion statements amongst the young population in the country coupled with changing climatic conditions due to which the need for eye protection is rising.

Key Attractiveness of the Report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2016 to 2020.
• Base Year: 2019
• Forecast Data until 2026.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report

• Nigeria Eyewear Market Overview
• Nigeria Eyewear Market Forecast
• Nigeria Eyewear Market Outlook
• Nigeria Eyewear Market, Until 2026
• Historical and Forecast data of Nigeria Eyewear Market Revenues for the Period 2016-2026F
• Historical data of Nigeria Eyewear Market Revenues, By Product Type for the Period 2016-2019
• Market Size & Forecast data of Nigeria Eyewear Market Revenues, By Product Type until 2026F
• Historical data of Nigeria Eyewear Market Revenues, By Product Form for the Period 2016-2019
• Market Size & Forecast data of Nigeria Eyewear Market Revenues, By Product Form until 2026F
• Historical data of Nigeria Eyewear Market Revenues, By Distribution Channel for the Period 2016-2019
• Market Size & Forecast data of Nigeria Eyewear Market Revenues, By Distribution Channel until 2026F
• Historical data of Nigeria Eyewear Market Revenues, By End Users for the Period 2016-2019
• Market Size & Forecast data of Nigeria Eyewear Market Revenues, By End Users until 2026F
• Market Drivers, Restraints and Trends
• Market Trends and Industry Life Cycle
• Porter’s Five Force Analysis
• Market Opportunity Assessment
• Market Player’s Revenue Shares
• Market Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations

Market Scope and Segmentation

The report provides a detailed analysis of the following market segments:

• By End Users
• Men
• Women
• Unisex
• By Products
• Sunglasses
• Spectacles
• Contact Lenses
• Others
• By Distribution Channel
• Online
• Offline
• By Regions
• Northern Region
• Western Region
• Eastern Region

Other Key Reports Available

• Europe Eyewear Market (2020-26)
• Asia Pacific Eyewear Market (2020-26)