Market Size of Saudi Arabia E-Commerce Eyewear Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 5.20 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Saudi Arabia E-commerce Eyewear Market Analysis
During the time frame of the forecast, the Saudi Arabia E-commerce Eyewear Market is expected to grow at a CAGR of 5.2%.
The country's harsh and humid climate, along with a growing share of smartphone users, has resulted in the market gaining traction in the region. Most of the demand is created by tourists, as eyewear products are a part of their daily requirements or a souvenir of the culture. The presence of brands has leveraged the eyewear platform and made it a highly competitive sector for established players. Online retailing for the same has undertaken an upswing, driven by the millennial population's vying for new and enhanced products that go along with regular fashion.
The growth of the corrective glasses segment is mainly driven by the increasing population suffering from refractive errors, raising awareness, and the cost-effectiveness of eye care devices over refractive surgeries. Owing to such factors, renowned e-commerce stores in the Saudi Arabian market, such as Barakat Opticals, Eyewa, and Magrabi, are facilitating consumers with eye test booking options, club cards, and a range of branded eyewear. Moreover, the increasing use of smartphones and computers is triggering cases of computer vision syndrome (CVS). This factor has also been influencing the sale of corrective eyewear for the past few years.
Online retail sales increased in the Saudi Arabian region, which gave the market an increasing value in sales. The presence of many highly competitive players in the market focusing on various kinds of eyewear, etc. Moreover, the government's support and initiatives to promote e-commerce platforms via Vision 2030, which supports disruptive technological innovation, are creating a huge opportunity for the players, as the government intends to increase the contribution of alternative retail channels, including e-commerce, to 80% of retail sector activity by 2030.
Saudi Arabia E-commerce Eyewear Industry Segmentation
Eyewear is a product worn over the eyes for vision correction or protection. This can be purchased for a variety of reasons, including fashion or adornment, UV infrared ray protection, and so on. The Saudi Arabia e-commerce eyewear market studied is segmented by product category and end user. Based on product category, the market is segmented into spectacles, sunglasses, contact lenses, and other product types. Based on end users, the market is segmented into three categories: women, men, and unisex. For each segment, the market sizing and forecasts have been done on the basis of value (in USD million).
| Product Category | |
| Spectacles | |
| Sunglasses | |
| Contact Lenses | |
| Other Product Types |
| End User | |
| Men | |
| Women | |
| Unisex |
Saudi Arabia E-Commerce Eyewear Market Size Summary
The Saudi Arabia e-commerce eyewear market is experiencing significant growth, driven by factors such as the country's harsh climate, increasing smartphone penetration, and a rising number of tourists. The market is characterized by a competitive landscape with both local and international brands vying for consumer attention. Online retailing has gained momentum, particularly among the millennial demographic, who are drawn to the convenience and variety offered by e-commerce platforms. The demand for corrective eyewear is on the rise due to the increasing prevalence of refractive errors and computer vision syndrome, further bolstered by the cost-effectiveness of online purchases compared to traditional retail options. Government initiatives like Vision 2030 are also playing a crucial role in promoting e-commerce, aiming to significantly boost its contribution to the retail sector.
The eyewear industry in Saudi Arabia is witnessing a shift in consumer perception, with eyewear increasingly seen as fashion accessories rather than mere functional items. This shift is supported by the presence of high-end shopping complexes and a strong influx of tourists, which has led to a demand for premium and luxury eyewear brands. Online platforms such as Eyewa are capitalizing on this trend by offering a wide range of branded products, including Ray-Ban and Prada, and expanding their distribution networks in key cities like Riyadh and Jeddah. The market is highly competitive, with major players like Essilor-Luxottica and LVMH actively engaging in online marketing and strategic partnerships to enhance their market share. The focus on aesthetics and brand exclusivity is driving sales, with consumers prioritizing style and quality in their purchasing decisions.
Saudi Arabia E-Commerce Eyewear Market Size - Table of Contents
-
1. MARKET DYNAMICS
-
1.1 Market Drivers
-
1.2 Market Restraints
-
1.3 Porter's Five Forces Analysis
-
1.3.1 Bargaining Power of Suppliers
-
1.3.2 Bargaining Power of Buyers
-
1.3.3 Threat of New Entrants
-
1.3.4 Threat of Substitutes
-
1.3.5 Intensity of Competitive Rivalry
-
-
-
2. MARKET SEGMENTATION
-
2.1 Product Category
-
2.1.1 Spectacles
-
2.1.2 Sunglasses
-
2.1.3 Contact Lenses
-
2.1.4 Other Product Types
-
-
2.2 End User
-
2.2.1 Men
-
2.2.2 Women
-
2.2.3 Unisex
-
-
Saudi Arabia E-Commerce Eyewear Market Size FAQs
What is the current Saudi Arabia E-Commerce Eyewear Market size?
The Saudi Arabia E-Commerce Eyewear Market is projected to register a CAGR of 5.20% during the forecast period (2024-2029)
Who are the key players in Saudi Arabia E-Commerce Eyewear Market?
EssilorLuxottica SA, LVMH Moët Hennessy Louis Vuitton, Safilo Group S.p.A., De Rigo Vision SpA and Kering SA are the major companies operating in the Saudi Arabia E-Commerce Eyewear Market.
