Market Forecast By Product (Spectacles, Sunglasses, Contact Lenses & Others), By End-user (Male, Female, Unisex), By Distribution Channels (Online, Offline) and by competitive landscape
|Product Code: ETC003442||Publication Date: Feb 2023||Product Type: Report|
|Publisher: 6Wresearch||No. of Pages: 70||No. of Figures: 35||No. of Tables: 5|
UAE Eyewear Market is a tremendously growing industry owing to several growth factors and recent developments in the industry. The growing demand for luxury eyewear brands such as Chanel, Prada, Gucci, and Ray-Ban is one such significant growth factor in the UAE Eyewear Industry. These brands are targeting the high-end segment of the market and are opening new stores in upscale shopping destinations. The adoption of advanced technologies such as 3D printing and virtual try-on systems to augment production efficiency and customer experience. Moreover, there is a growing trend towards sustainable eyewear in the UAE market as several brands are introducing recycled items and eco-friendly materials into their product lines.
The expansion of optical retail chains such as Al Jaber Optical, and Magrabi Optical have expanded their operations in the UAE and offer a wide range of eyewear products. E-commerce is becoming a popular sales channel for eyewear retailers in the UAE. Online eyewear stores offer a wide range of products and services which includes home delivery and virtual try-on options. These options will make it feasible for consumers to choose a wide array of options from their homes. The government of UAE has been promoting health awareness and encouraging citizens to undergo regular eye check-ups which resulted in increasing demand for prescription glasses.
The eyewear market in the UAE is expected to grow at a CAGR of XX% through 2021, owing to increasing consumer demand for quality eyewear products and technological advancements in the industry. The key factors driving this growth include increased disposable income, rising awareness about eye health and safety, and increasing popularity of sporting activities among the population. Additionally, the eyewear market in the UAE is segmented into two major submarkets: designer frames and branded frames. The designer frames submarket is expected to account for the largest market share of the total market, followed by branded frames submarket. The UAE Eyewear market is a part of Middle East Eyewear Market and global eyewear market.
According to 6Wresearch, the UAE Eyewear market size is likely to witness growth during 2022-28. This growth is mainly driven by the increasing demand for sunglasses and safety glasses in the region. This growth is mainly due to the increasing trend of corrective lens use and the population's inclination towards higher standards of living. Further, rising demand for corrective lenses and rising standards of living among Emiratis. Moreover, the growth is expected to be driven by the increasing number of affluent people in the country, as well as rising healthcare expenditure and an increase in employment opportunities over the next five years, major players in this market are expected to focus on developing new products and services, expanding their distribution networks, and increasing their marketing investments.
However, there are several key restraints that could hamper this growth in the short term. For instance, the high cost of raw materials and labor are two major factors constraining the eyewear market in the UAE. Additionally, there is limited awareness among consumers about eyewear products and their benefits. This could impact sales volumes in the short term.
In terms of type, the UAE Eyewear market is categorized into spectacles, sunglasses, contact lenses and others. Further, the major factors that are expected to drive growth in the UAE eyewear market include increasing awareness about eye health and its importance, increasing demand for safety and corrective eyewear across various age groups, growing population and ageing population in the country, technological advancements such as augmented reality (AR) and virtual reality (VR), increase in spending on lifestyle accessories such as sunglasses, etc.
There are several leading brands present in the eyewear market in the UAE, such as Ray-Ban, Oakley, Tom Ford, Fossil, Guess and Nike. These brands offer a wide range of products that cater to different consumers tastes and needs. Some of these brands have established retail channels across the country while others are available through online channels only. Additionally, the companies are currently focusing on expanding their distribution networks and developing new products to meet the increasing demand from consumers. Some of these companies are also investing in research and development initiatives to develop new eyewear products that can cater to the specific needs of consumers. Moreover, the leading brands have developed strong reputations in the region over time and cater to a wide range of customer needs. There are also a number of local brands that offer quality products at affordable prices. The eyewear market in Abu Dhabi is much smaller than those in Dubai and Dubai Jumeirah, but it is still growing rapidly thanks to increasing demand from both domestic and international consumers. There are a number of well-known local brands that offer high-quality products at affordable prices.
The pandemic resulted in a slowdown in market growth a few years back. However, the circumstances have upgraded gradually post-pandemic. Currently, the market has demonstrated substantial growth prospects. The market has been growing rapidly due to increasing demand for safety and corrective eyewear across various age groups, as well as increasing awareness about eye health and its importance. This growth is also supported by the rising population and ageing population in the country.
The report delivers a widespread study of the subsequent market segments:
|1. Executive Summary|
|2.1. Report Description|
|2.2. Key Highlights of The Report|
|2.3. Market Scope & Segmentation|
|2.4. Research Methodology|
|3. UAE Eyewear Market Overview|
|3.1. UAE Eyewear Market Revenues, 2018-2028F|
|3.2. UAE Eyewear Market Revenue Share, By End-users, 2021 & 2028F|
|3.3. UAE Eyewear Market Revenue Share, By Products, 2021 & 2028F|
|3.4. UAE Eyewear Market Revenue Share, By Distribution Channels, 2021 & 2028F|
|3.5. UAE Eyewear Market Revenue Share, By Regions, 2021 & 2028F|
|3.6. UAE Eyewear Market Industry Life Cycle|
|3.7. UAE Eyewear Market- Porter’s Five Forces|
|4. UAE Eyewear Market Dynamics|
|4.1. Impact Analysis|
|4.2. Market Drivers|
|4.3. Market Restraints|
|5. UAE Eyewear Market Trends|
|6. UAE Eyewear Market Overview, By End-User|
|6.1. UAE Eyewear Market Revenues, By Men, 2018-2028F|
|6.2. UAE Eyewear Market Revenues, By Women, 2018-2028F|
|6.3. UAE Eyewear Market Revenues, By Unisex, 2018-2028F|
|7. UAE Eyewear Market Overview, By-Products|
|7.1. UAE Eyewear Market Revenues, By Sunglasses, 2018-2028F|
|7.2. UAE Eyewear Market Revenues, By Spectacles, 2018-2028F|
|7.3. UAE Eyewear Market Revenues, By Contact Lenses, 2018-2028F|
|7.4. UAE Eyewear Market Revenues, By Others, 2018-2028F|
|8. UAE Eyewear Market Overview, By Distribution Channels|
|8.1. UAE Eyewear Market Revenues, By Online, 2018-2028F|
|8.2. UAE Eyewear Market Revenues, By Offline, 2018-2028F|
|9. UAE Eyewear Market Overview, By Region|
|9.1. UAE Eyewear Market Revenues, By Region, 2018-2028F|
|10. UAE Eyewear Market Key Performance Indicators|
|11. UAE Eyewear Market Opportunity Assessment|
|11.1. UAE Eyewear Market, Opportunity Assessment, By Product, 2025F|
|11.2. UAE Eyewear Market, Opportunity Assessment, By Region, 2025F|
|12. UAE Eyewear Market Competitive Landscape|
|12.1. UAE Eyewear Market Competitive Benchmarking, By Product|
|12.2. UAE Eyewear Market Revenue Share, By Company, 2021|
|13. Company Profiles|
|14. Key Strategic Recommendations|
Market Forecast By Product (Spectacles, Sunglasses, Contact Lenses & Others), By End-user (Male, Female, Unisex), By Distribution Channels (Online, Offline) and competitive landscape
|Product Code: ETC003442||Publication Date: Aug 2020||Product Type: Report|
|Publisher: 6Wresearch||No. of Pages: 70||No. of Figures: 35||No. of Tables: 5|