Saudi Arabia Eyewear Market research report, 2028

In Saudi Arabian culture, eyewear serves several important purposes beyond just fashion and vision correction. Eyewear is also seen as a way to express one's personality and individuality. Many people choose frames that reflect their personal style and taste, and some even use eyewear as a form of self-expression. This is particularly true among younger generations, who see eyewear as a way to make a fashion statement and stand out from the crowd. Furthermore, eyewear is also an important accessory for women who wear a hijab. The hijab is a headscarf worn by some Muslim women to cover their hair and neck as a sign of modesty and religious devotion. When worn outdoors, it is common for women to pair their hijab with sunglasses or other eyewear to protect their eyes from the sun and maintain their modesty. This is seen as a way to follow cultural and religious traditions while still being fashionable. Moreover, eyewear is also viewed as a status symbol in Saudi Arabia and is often associated with wealth and social status. High-end designer frames from brands such as Chanel, Prada, and Gucci are particularly popular among those who can afford them and are seen as a way to demonstrate their wealth and social standing. According to the research report "Saudi Arabia Eyewear Market research report, 2028," published by Actual Market Research, the Saudi Arabia Eyewear market was valued at more than USD 2 Billion in 2022. The average disposable income in Saudi Arabia has been increasing and is expected to continue to rise in the coming years. This means that people have more money to spend on luxury goods, including high-end designer eyewear. Furthermore, Saudi Arabia has been actively promoting tourism in recent years with the goal of increasing the number of visitors to the country. This has led to an increased demand for sunglasses among tourists, who are looking for protection from the sun while visiting outdoor attractions and sites. Moreover, Saudi Arabia is experiencing a high rate of urbanisation, with more and more people moving to cities. Urbanisation has led to changes in lifestyle, with people spending more time indoors and in front of screens. This has increased the demand for eyewear for computer and screen use. In addition, anti-fog coatings have become more popular in Saudi Arabia, particularly among those who wear glasses and masks at the same time. These coatings prevent glasses from fogging up, making them more comfortable and functional for daily use. In addition, foldable glasses have become more popular in Saudi Arabia, particularly among those who want a convenient and portable option for travel. These glasses can be easily folded and stored in a small case, making them easy to carry around and use on the go. Based on product type, this market can be segmented into spectacles, sunglasses, contact lenses, and others. The Spectacles segment was estimated to hold a major share of the overall market in 2022. There is also a growing demand for fashionable and designer eyewear in Saudi Arabia, with many consumers looking for stylish frames to complement their personal style. Spectacles offer a wide range of frame designs and materials, including metal, plastic, and acetate, allowing consumers to choose frames that suit their preferences and needs. Furthermore, another factor contributing to the popularity of spectacles in Saudi Arabia is the country's conservative culture, which places a high value on modesty and privacy. Wearing glasses can help to conceal one's eyes, providing an additional layer of privacy and protection against unwanted attention. While contact lenses and sunglasses are also popular in the Saudi Arabian eyewear market, they tend to be more niche products with a smaller customer base. Contact lenses require more maintenance and can be more expensive than prescription eyeglasses, while sunglasses are often seen as a luxury item rather than a necessity. According to reports, optical stores have the highest market share in the distribution channel of the eyewear market in Saudi Arabia. Optical stores offer personalized service, including eye exams, fittings, and advice on selecting the right eyewear products. This can help consumers make informed decisions and find the products that best meet their needs. For instance, some of the popular optical stores in Saudi Arabia include Optic World, Magrabi Optical, Optic Gallery, Al Jaber Optical, Yateem Optician, Samer Eyewear, Focus Point, Eye Boutique, Al-Raya Optical, Optique Vision, and more. However, the online channel is expected to have the highest CAGR during the forecast period. Online eyewear retailers often offer a wider range of products than traditional optical stores, including a variety of brands, styles, and colours. This makes it easier for consumers to find exactly what they are looking for. For instance, there are several online platforms for eyewear in Saudi Arabia, including Souq, Noon, Amazon, Eyewa, Opticsonline, Lensfit, Glasses, Smartbuyglasses, Mamoit, Gogglesu, and more. In the Saudi Arabian eyewear market, eyewear products are typically categorized into three price ranges: low, medium, and premium. Among these, the medium-priced eyewear products have the largest market share. Medium-priced eyewear products have a wide customer base that includes both budget-conscious consumers and those who are willing to pay more for higher-quality products. Moreover, medium-priced eyewear products are often made from high-quality materials and offer a range of features such as UV protection, anti-glare coatings, and scratch resistance. However, premium-priced eyewear products are expected to have the highest CAGR during the forecast period. Saudi Arabia has a growing population of consumers who are willing to pay more for luxury and high-end products. This trend has extended to the eyewear market, where consumers are increasingly seeking out premium-priced eyewear products that offer unique designs, high-quality materials, and superior craftsmanship. The Saudi Arabian government has made significant investments in the country's healthcare infrastructure in recent years, including the construction of new hospitals and clinics. This has helped to improve access to eye care services and reduce wait times for appointments. Furthermore, the SFDA requires all eyewear sold in Saudi Arabia to be registered with the authority and meet the applicable technical standards and requirements. This includes both prescription and non-prescription eyewear, such as glasses, contact lenses, and sunglasses. Moreover, to import eyewear into Saudi Arabia, importers must obtain a Certificate of Conformity (CoC) from an authorised testing laboratory in the country of origin. The CoC must certify that the eyewear meets the applicable technical regulations and standards set by the SFDA. Additionally, the SFDA has established guidelines for the labelling and packaging of eyewear products. The guidelines require that all eyewear products sold in Saudi Arabia include certain information on the packaging, such as the product name, the manufacturer's name and address, and the country of origin. Considered in this report • Geography: Saudi Arabia • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028 Aspects covered in this report • Saudi Arabia Eyewear market with its value and forecast along with its segments • On-going trends and developments • Top profiled companies • Strategic recommendation By Product Type: • Spectacles • Sunglasses • Contact Lenses • Other Product Type (Eye Care) By Distribution Channel: • Hypermarket and Supermarket • Speciality Stores ( Optical Stores ) • Franchises/ Company outlets • Online stores • Others (Hospitals & Clinics) By Gender: • Men • Women • Unisex • Kids By Price Range: • Premium • Medium • Low The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to Eyewear industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.