Market Forecast By Product (Spectacles, Sunglasses, Contact Lenses & Others), By End-user (Male, Female, Unisex), By Distribution Channels (Online, Offline), By Regions (Northern Region, Western Region, Eastern Region) and competitive landscape
Product Code: ETC060914 | Publication Date: Jul 2021 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 76 | No. of Figures: 23 | No. of Tables: 5 |
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.
The report provides a detailed analysis of the following market segments:
1. Executive Summary |
2. Introduction |
2.1 Report Description |
2.2 Key Highlights of the Report |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3. Nigeria Eyewear Market Overview |
3.1 Nigeria Eyewear Market Revenues, 2016-2026F |
3.2 Nigeria Eyewear Market-Industry Life Cycle |
3.3 Nigeria Eyewear Market-Porter’s Five Forces |
3.4 Nigeria Eyewear Market Revenue Share, By End-users, 2019 & 2026F |
3.5 Nigeria Eyewear Market Revenue Share, By Products, 2019 & 2026F |
3.6 Nigeria Eyewear Market Revenue Share, By Distribution Channels, 2019 & 2026F |
3.7 Nigeria Eyewear Market Revenue Share, By Regions, 2019 & 2026F |
4. Nigeria Eyewear Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5. Nigeria Eyewear Market Trends |
6. Nigeria Eyewear Market Overview, By End-users |
6.1 Nigeria Eyewear Market Revenues, By Men, 2016-2026F |
6.2 Nigeria Eyewear Market Revenues, By Women, 2016-2026F |
6.3 Nigeria Eyewear Market Revenues, By Unisex, 2016-2026F |
7. Nigeria Eyewear Market Overview, By Products |
7.1 Nigeria Eyewear Market Revenues, By Sunglasses, 2016-2026F |
7.2 Nigeria Eyewear Market Revenues, By Spectacles, 2016-2026F |
7.3 Nigeria Eyewear Market Revenues, By Contact Lenses, 2016-2026F |
7.4 Nigeria Eyewear Market Revenues, By Others, 2016-2026F |
8. Nigeria Eyewear Market Overview, By Distribution Channels |
8.1 Nigeria Eyewear Market Revenues, By Online, 2016-2026F |
8.2 Nigeria Eyewear Market Revenues, By Offline, 2016-2026F |
9. Nigeria Eyewear Market Overview, By Regions |
9.1. Nigeria Eyewear Market Revenues, By Regions, 2016-2026F |
10. Nigeria Eyewear Market Key Performance Indicators |
11. Nigeria Eyewear Market Opportunity Assessment |
11.1 Nigeria Eyewear Market, Opportunity Assessment, By End Users, 2026F |
11.2 Nigeria Eyewear Market, Opportunity Assessment, By Products, 2026F |
11.3 Nigeria Eyewear Market, Opportunity Assessment, By Distribution Channels, 2026F |
11.4 Nigeria Eyewear Market, Opportunity Assessment, By Regions, 2026F |
12. Nigeria Eyewear Market Competitive Landscape |
12.1 Nigeria Eyewear Market Competitive Benchmarking, By Product |
12.2 Nigeria Eyewear Market Revenue Share, By Company, 2019 |
13. Company Profiles |
14. Key Strategic Recommendations |
15. Disclaimer |
List of Figures: |
1. Nigeria Eyewear Market Revenues, 2016-2026F ($ Million) |
2. Nigeria Eyewear Market Revenue Share, By End User, 2019 & 2026F |
3. Nigeria Eyewear Market Revenue Share, By Products, 2019 & 2026F |
4. Nigeria Eyewear Market Revenue Share, By Distribution Channels, 2019 & 2026F |
5. Nigeria Eyewear Market Revenue Share, By Regions, 2019 & 2026F |
6. Population Distribution in Nigeria, By Age, 2020 |
7. Nigeria Men Eyewear Market Revenues, 2016-2026F ($ Million) |
8. Nigeria Women Eyewear Market Revenues, 2016-2026F ($ Million) |
9. Nigeria Unisex Eyewear Market Revenues, 2016-2026F ($ Million) |
10. Nigeria Sunglasses Eyewear Market Revenues, 2016-2026F ($ Million) |
11. Nigeria Spectacles Eyewear Market Revenues, 2016-2026F ($ Million) |
12. Nigeria Contact Lenses Eyewear Market Revenues, 2016-2026F ($ Million) |
13. Nigeria Other Eyewear Market Revenues, 2016-2026F ($ Million) |
14. Nigeria Online Eyewear Market Revenues, 2016-2026F ($ Million) |
15. Nigeria Offline Eyewear Market Revenues, 2016-2026F ($ Million) |
16. Number of Mobile Users, Nigeria, 2016-Jul’2020 (Million Active Lines) |
17. Monthly Subscriber Connected Lines in Nigeria, Jan’2020- Jul’2020 (Million Connected Lines) |
18. Average UV Index, Lagos, Jan-Dec, 2019 |
19. Nigeria Eyewear Market Opportunity Assessment, By End Users, 2026F |
20. Nigeria Eyewear Market Opportunity Assessment, By Products, 2026F |
21. Nigeria Eyewear Market Opportunity Assessment, By Distribution Channels, 2026F |
22. Nigeria Eyewear Market Opportunity Assessment, By Regions, 2026F |
23. Nigeria Eyewear Market Revenue Share, By Companies, 2019 |
List of Tables: |
1. Population Of Nigeria (2018-2020) |
2. Population in Top 8 Urban Agglomerations in Nigeria, 2015 & 2030F (Million Persons) |
3. Nigeria Eyewear Market Revenues, By Regions, 2016-2026F ($ Million) |
4. List of Upcoming Skyscrapers in Nigeria |
5. Average UV Index in 12 Top Cities in Nigeria (as on November 2020) |