KSA Eyewear Market Outlook to 2028

KSA Eyewear Market Overview

The KSA eyewear market is valued at USD 812 million, driven by the increasing demand for prescription glasses and sunglasses due to the rise in vision-related issues and growing consumer preference for luxury eyewear. The market has experienced steady growth over the past five years, influenced by factors like higher disposable income, a shift in fashion trends, and the expansion of e-commerce platforms, which have made eyewear products more accessible to consumers across various demographics.

Riyadh and Jeddah dominate the eyewear market in KSA due to their large urban populations, higher per capita income, and significant retail presence. The demand for premium and luxury eyewear is particularly strong in these cities, as consumers are inclined to spend on high-quality, branded products. Additionally, these cities house several international and local optical retailers, further fueling the market's growth.

With the increasing usage of digital devices in KSA, blue-light filtering lenses have gained popularity. In 2023, over 80% of Saudi adults reported spending more than six hours a day on screens, leading to increased concerns about digital eye strain. Blue-light filtering lenses, designed to reduce eye fatigue, have become a preferred option for consumers, particularly in the working population. This trend is supported by growing awareness of the long-term effects of screen exposure on vision health.

KSA Eyewear Market Segmentation

By Product Type: The KSA eyewear market is segmented by product type into prescription glasses, sunglasses, contact lenses, and smart eyewear. Recently, prescription glasses have held a dominant market share under the product type segmentation due to the rising prevalence of vision impairments, such as myopia and astigmatism. This segment's demand is further boosted by the increasing awareness of eye health and the growing elderly population who require vision correction.

By Distribution Channel: The market is segmented by distribution channel into optical stores, online platforms, hypermarkets and supermarkets, and specialty retailers. Optical stores hold the largest market share, as consumers prefer trying on eyewear products before purchasing, and these stores offer personalized services like eye tests and fitting. Furthermore, optical stores have established trust and credibility among consumers, contributing to their strong market position.

KSA Eyewear Market Competitive Landscape

The KSA eyewear market is dominated by a few key players that hold substantial market influence through brand strength, extensive distribution networks, and innovative product offerings. The competitive landscape is characterized by both international brands and strong regional players. The markets consolidation indicates that companies with greater brand recognition, technological advancements, and customer loyalty continue to lead the market.

Company

Year Established

Headquarters

No. of Stores

Product Range

Technological Innovation

Sustainability Initiatives

Brand Loyalty

Market Penetration

Essilor Luxottica

1972

Paris, France______

Magrabi Optical

1927

Riyadh, KSA______

Johnson & Johnson Vision Care

1959

New Jersey, USA______

Al Jaber Optical

1982

Abu Dhabi, UAE______

Safilo Group

1934

Padua, Italy______

KSA Eyewear Market Industry Analysis

Growth Drivers

Increasing Disposable Income: The rise in KSAs disposable income is directly impacting the eyewear market. In 2023, Saudi household income is projected to grow due to government initiatives aimed at diversifying the economy away from oil dependence. As of 2022, per capita income in KSA was around $23,000, with forecasts showing continued growth in 2024. This increasing income has empowered consumers to spend more on lifestyle products, including luxury eyewear. The Saudi Vision 2030 reforms are expected to boost disposable incomes further, as sectors like retail and manufacturing continue to expand.

Shift in Consumer Preferences: KSAs population, particularly in urban areas like Riyadh and Jeddah, is showing a shift toward premium and luxury eyewear brands. By 2024, luxury retail sales in KSA, driven by the eyewear segment, are estimated to account for a significant share of the retail market. The demand for high-end products is supported by the affluent population, with an estimated 20% of households classified as high-income in 2022. This trend is influenced by a growing younger population that prioritizes fashion and status, aligning with global luxury consumption trends.

Growing Prevalence of Vision-Related Issues: The prevalence of vision-related issues in KSA is contributing to a steady demand for prescription eyewear. In 2022, approximately 22% of the Saudi population experienced some form of vision impairment, including myopia and hyperopia. The Saudi Ministry of Health has reported a rise in eye disorders, partially attributed to increased screen time and aging demographics. As of 2023, over 70% of Saudi residents aged 35 and above required corrective lenses, further bolstering the eyewear market.

Market Challenges

High Price Sensitivity: Despite the growth in disposable income, a significant portion of the Saudi population remains price-sensitive, particularly in the mid- to low-income segments. In 2023, roughly 50% of the population had an annual household income below $20,000, limiting their ability to purchase high-end eyewear. This creates a challenge for luxury and premium eyewear brands attempting to penetrate the broader market. Retailers are forced to balance offering premium products while addressing the needs of price-conscious consumers.

Competition from Low-Cost Alternatives: The eyewear market in KSA faces stiff competition from low-cost alternatives, primarily imported from China and other Asian markets. In 2022, over 40% of eyewear products sold in KSA were imported from these regions, where production costs are significantly lower. The availability of budget-friendly options, including non-branded and counterfeit products, poses a challenge to established premium brands in the market. Retailers often struggle to differentiate their offerings, despite superior quality and branding.

KSA Eyewear Market Future Outlook

Over the next five years, the KSA eyewear market is expected to witness significant growth driven by technological advancements in smart eyewear, increasing health awareness, and growing demand for luxury brands. The rise of blue-light filtering lenses and eco-friendly materials is anticipated to further drive consumer interest in innovative and sustainable eyewear solutions. Additionally, expanding e-commerce platforms will make premium eyewear accessible to a larger segment of the population, especially in non-metropolitan areas.

Opportunities

Technological Advancements: KSAs rapidly growing tech-savvy population presents significant opportunities in the smart eyewear sector. In 2023, KSA ranked among the top 25 countries in terms of digital readiness. With increasing demand for wearable technology, including smart glasses with integrated health monitoring and augmented reality features, the market for tech-enhanced eyewear is poised for growth. Leading international brands have already begun exploring collaborations with local distributors, aiming to capitalize on the country's young, tech-oriented consumer base.

Expansion into Untapped Rural Markets: While urban centers dominate the eyewear market, there is a growing opportunity in rural areas, where eyewear penetration remains low. As of 2022, over 30% of KSAs population resided in rural areas, with limited access to eyewear products and optometry services. Government initiatives aimed at improving healthcare access, particularly in less developed regions, present a growth opportunity for eyewear brands that can tap into these underserved markets. The ongoing development of rural infrastructure is expected to facilitate this expansion.
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