GCC Eyewear Market

GCC Eyewear Market Overview:

The GCC Eyewear market was worth US$ XX Billion in 2023, expanding at a CAGR of X% during 2018-2023. The market is projected to register a CAGR of X% during 2024-2029, reaching US$ XX Billion by 2028. Eyewear refers to protective accessories worn on or over the eyes for fashion, embellishment, protection or enhancing visual acuity, including glasses, goggles, and contact lenses. Different types of eyewear are also worn for vision correction, or protection from dust particles. Currently, individuals are spending a considerable number of hours on digital devices, such as mobiles, laptops, and tablets, thereby leading to optical deficiencies and eye defects, which, in turn, is escalating the demand for eyewear. The market in the GCC region has witnessed a significant shift towards using eyewear as a fashion accessory, resulting from the consumers' increased consciousness regarding style.

The GCC eyewear market is primarily driven by the increasing number of individuals requiring vision correction. Moreover, the growing exposure of the masses to smartphones and computers has resulted in the rising incidences of eyesight problems, such as hyperopia, myopia, and astigmatism, thereby catalyzing the demand for prescription glasses and contact lenses. Apart from this, the online availability of eyewear products, including spectacles, sunglasses, and contact lenses, has gained prominence due to a significant shift of the consumers toward online platforms, which offer diverse product varieties and an expanded product portfolio. Several manufacturers are now investing in new product development with reduced glare and improved UV protection, which, in turn, is contributing to the market. Additionally, the rising usage of social media platforms is propelling the market growth. Other factors, including rapid urbanization, inflating disposable income levels, and continual innovations in eyewear, such as ballistic eyewear, are further providing an impetus to the growth of the market across the GCC region.

Beginning with a regional overview, the report explores the dynamics that have a strong influence on the GCC eyewear market and can also impact its future growth. Taking 2023 as the base year, the report covers historical market scenario from 2018-2023 and provides forecasts till 2028. This includes the study of value and volume trends and pricing history. Growth inducing factors, market restraints and recent developments have also been analysed in the report in order to provide a deeper knowledge about the industry. On a regional basis, the report examines the GCC eyewear market in Saudi Arabia, United Arab Emirates, Qatar, Kuwait, Oman and Bahrain. For each of these regions, the report studies the GCC eyewear market in detail for latest trends, outlook and opportunities.

The report analyses the competitive structure of the GCC eyewear market industry and provides the profiles of major players operating in the market. The price margins for the products along with the various success and risk factors for manufacturers have also been covered in the report. Moreover, in order to determine market attractiveness, the report analyses the GCC eyewear market industry along the parameters of the Porter’s Five Forces model. This model examines the degree of competition in the GCC eyewear market industry by analysing the threat posed by new entrants and substitutes, and the bargaining power of suppliers and buyers. SWOT analysis of the market has also been presented in the report which highlights the strengths, weaknesses, opportunities and threats pertaining to the GCC eyewear market industry. Furthermore, the value chain analysis of the GCC eyewear market industry has also been covered in the report. This comprises of all the activities in the value chain, such as the procurement of various raw materials, manufacturing, sales and distribution. 

GCC Eyewear Market Segment Insights:

The GCC eyewear market has been analysed as followed:

By Product:

• Spectacles
• Sunglasses
• Contact lenses

By Gender:

• Men
• Women
• Unisex

By Distribution Channel:

• Optical Stores
• Independent Brand Showrooms
• Online Stores
• Retail Stores

By Country:

• Saudi Arabia
• United Arab Emirates
• Qatar
• Kuwait
• Oman
• Bahrain

Country-wise, the market has been segmented into Saudi Arabia, United Arab Emirates, Qatar, Kuwait, Oman and Bahrain. Amongst these, Saudi Arabia represents the largest market, accounting for majority of the GCC region.

Competative Landscape: 

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Highlights of the GCC Eyewear Market Report:

• Historical and current scenario
• Trends and developments
• Market forecast
• Impact of COVID-19
• Price analysis and forecast
• Porter’s five forces analysis
• SWOT analysis
• Value chain analysis

Report Customisation:

The GCC eyewear market report can be customised as per your requirements. You can get in touch with our analyst, who will make sure that the report suits your research needs.