Product Code: ETC369640 | Publication Date: Aug 2022 | Updated Date: Feb 2025 | Product Type: Market Research Report | |
Publisher: 6Wresearch | No. of Pages: 75 | No. of Figures: 35 | No. of Tables: 20 | |
United Arab Emirates (UAE) Eyewear market currently, in 2023, has witnessed an HHI of 3328, Which has increased slightly as compared to the HHI of 3288 in 2017. The market is moving towards concentrated. Herfindahl index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means fewer numbers of players or countries exporting in the market.
The UAE eyewear market has seen significant growth, influenced by factors such as demographic shifts, increasing awareness of eye health, and evolving fashion preferences. With a diverse range of consumers seeking prescription glasses, sunglasses, and contact lenses, the market has witnessed a surge in demand. The presence of established eyewear brands and a flourishing retail sector have contributed to the market`s positive trajectory.
The broader eyewear market in the UAE has benefited from a growing population, an aging demographic, and increasing prevalence of eye-related disorders. Aesthetic considerations, such as the desire for trendy sunglasses and prescription glasses, have also played a role in market growth. Furthermore, the expansion of optical retail chains and e-commerce platforms has made eyewear more accessible to consumers.
The UAE eyewear market faces several challenges that impact its growth and profitability. One of the most prominent challenges is the economic impact of global events and fluctuations in consumer spending. Economic downturns, such as those caused by the COVID-19 pandemic, can significantly reduce consumer disposable income, leading to decreased demand for non-essential items like eyewear. Another challenge is the regulatory environment in the UAE. The government has implemented strict regulations regarding the sale and distribution of eyewear products, including the requirement for optometrist prescriptions for certain types of eyewear. Compliance with these regulations can be cumbersome for businesses and may limit their ability to market and sell products freely. Counterfeiting and the presence of fake eyewear products in the market also pose a significant challenge. Counterfeit eyewear not only affects the revenue of legitimate businesses but also raises concerns about product safety and quality for consumers.
The UAE eyewear market faced a challenging environment during the COVID-19 pandemic. Lockdowns and restrictions led to a decrease in foot traffic to optical stores, impacting both the prescription and non-prescription eyewear segments. A shift towards remote work and online education affected the demand for prescription eyewear, while reduced outdoor activities and social events impacted the demand for fashion eyewear. However, the market adapted by strengthening its online presence, offering virtual try-ons, and expanding telehealth services. These innovations helped mitigate some of the losses, and as restrictions eased, the market showed signs of recovery.
The UAE eyewear market features well-established players such as EssilorLuxottica S.A., Safilo Group S.p.A., Johnson & Johnson Vision Care, Inc., and Alcon Inc. These companies offer a comprehensive range of eyewear products, including prescription glasses, contact lenses, and sunglasses, meeting the vision correction and fashion needs of consumers in the UAE.