Eyewear Market Outlook Report 2023
Read Report Overview @
A report by Transparency Market Research forecasts the revenue in the market for eyewear in the Middle East to rise at a solid CAGR of 8.8% from 2015 to 2023. Rising at this rate, the market will likely gross a revenue to the tune of US$5.86 bn by 2023 from US$2.75 bn in 2014. Volume-wise, the market is predicted to register a CAGR of 4.8% over the same period. The wide gap between the revenue- and volume-wise growth prospects of the market is an indication of the fact that consumers in the region are increasingly opting for expensive, branded eyewear.
The main products purveyed in the Middle East eyewear market are spectacles, plano sunglasses, and contact lenses. Among them, contact lenses are predicted to become the most lucrative product segment because of the soaring popularity of daily disposable and colored contact lenses in the region. In addition, consumers are also switching to contact lenses from spectacles, due to the former’s high style quotient and added comfort. The product segment of contact lens is expected to clock a 9.6% CAGR from 2015 to 2023.
Region-wise, the key segments of the Middle East eyewear market are Saudi Arabia, UAE, Egypt, Qatar, Kuwait, Oman, Jordan, Bahrain, Turkey, Lebanon, and the Rest of the Middle East. Currently, the market in UAE is leading vis-à-vis revenue. In 2014, the country held a substantial 39% share in the market. In terms of volume as well, the UAE leads with maximum share. The market in the region is being boosted by a sizeable chunk of affluent people on account of an improving economy and the abundant availability of luxury brands.
Demand Boosted by Strenuous Work Life Taking a Toll on Eyesight
At the forefront of driving growth in the Middle East eyewear market is the rising eye corrections owing to strenuous work routine requiring employees to spend one too many hours parked in front of the computer screen. As per WHO, cataract prevails in 51% of the world’s visual deficient. Factors such as a burgeoning elderly population, swift pace of urbanization leading to rise in lifestyle-related diseases such as diabetes, which in turn affects the eye, are majorly fuelling the market.
Request to view Sample Report:
Increasing Spending Capacity among People Providing Tailwinds to Market
Apart from that, the increasing instances of nearsightedness or partial blindness both among adults and minors due to hereditary and ecological elements has also helped demand in the Middle East eyewear market. Other things benefitting the market are the rising disposable incomes of people in the region. The money is egging them to buy online games, smartphones, and tablets which keeps them hooked most of the time thereby affecting eyesight. This in turn is fuelling the market. Besides, the increasing capacity to spend among the people is also resulting in their buying latest models of eyewear and discarding their existing ones. This too is positively impacting demand.
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
Transparency Market Research
90 State Street,
Albany NY - 12207
USA - Canada Toll Free: 866-552-3453
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Eyewear Market Outlook Report 2023 here
News-ID: 854334 • Views: 160
More Releases from Transparency Market Research Reports
High Purity Quartz Market - Global Industry Report, 2030
High Purity Quartz Market: Introduction Albany, NY - The global high purity quartz market was valued at ~US$ 800 Mn in 2019 and is anticipated to expand at a CAGR of ~6% during the forecast period. The global high purity quartz market is driven by increase in demand for high purity quartz in the global semiconductor industry. Asia Pacific accounts for a major share of the global high purity quartz market,
Smart Remote Control Market: Analysts Expect Robust Growth in 2028
The rise in the use of technology across the globe has hit the shore of remote controls too. On the back of technological advancements, the smart remote control market may gain considerable momentum across the forecast period of 2019 -2028. The shift in consumer preference from cost-effectiveness to convenience is serving as a prominent growth factor for the smart remote control market. Based on technology type, the smart remote control
HYDROGEN SULFIDE SCAVENGERS MARKET TO REACH A VALUE OF ~US$ 655 MN BY 2027: TRAN …
Hydrogen Sulfide Scavengers Market: Key Highlights The global hydrogen sulfide scavengers market was valued at ~US$ 440 Mn in 2018, and is anticipated to expand at a CAGR of ~5% from 2019 to 2027. Increase in crude oil production enhances oilfield operations such as drilling, cementing, production, workover and completion, and well stimulation. This drives the demand for production chemicals such as hydrogen sulfide scavengers. The demand for crude oil is increasing
METAL-ORGANIC FRAMEWORK MARKET TO REACH A VALUATION OF ~US$ 24 MN BY 2027: TRANS …
Metal-organic Framework Market: Introduction In terms of value, the global metal-organic framework market is anticipated to expand at a CAGR of ~11% from 2019 to 2027 Metal-organic framework is a class of porous materials constructed from metal-rich inorganic nodes bonded with organic linkers. The structure provides high density of three-dimensional porous cores with a large surface area, uniform cross-linkages, and tunable porosity. Metal-organic framework possesses excellent absorption rate for hydrogen, water, carbon
More Releases for Middle
Middle East Railway Sector Middle East Railway Sales Report
For Report Sample Contact: email@example.com or +91-11-47067990 Report Table of Contents Middle East Outlook 1.1 Countries Overview 1.2 Middle East Economy 1.3 Transportation in Middle East Middle East Rail Transport Outlook 2.1 Overall Status of Rail Transport in Middle East 2.2 Trends in Railway Infrastructure Development in Middle East Saudi Arabia 3.1 Existing Railway Infrastructure 3.2 Proposed/Planned Railway Infrastructure 3.3 Regulatory Framework 3.4
Middle Ear Implants Market
Middle Ear Implants Market Overview Middle implant ear is a small device inserted into the middle ear and coupled to ossicles. Middle ear implants are devices designed for those who suffer mild- moderate mix or sensorineural hearing loss and conductive hearing loss. Middle ear implant is an advanced technology for the conventional use of hearing aid. A middle ear implant is recommended for people suffering from earmould allergies, skin problems, ear
Strong impulses in Middle-East
at-visions ONEvision Hotel TV solution is set to make big impact in Middle East. at-visions ONEvision Hotel TV solution is set to make big impact in Middle East. Parallel to establishing a strategic partnership with Omnix, the leading AV system integrator in Middle East, at-visions presented its approach of Hotel TV to qualified prospective buyers. "We were able to discuss our solution in detail with experienced senior-level management representatives from quite
Middle Classes Dominate Brazilian Investments
The changing face of the Brazilian middle class brings new challenges to domestic and foreign investment in Brazil. Once content with cheap promotions, the middle class is now more discerning and looking for quality. This search for better products affects consumer goods across the board. From laptops to real estate, Brazilian middle class (known as Class C) is going for quality over price. Until now, they were content with cheap offers,
Investment in Brazil's Middle Classes
After eight years under Lula, Brazil now has a new president. Like her predecessor, newly-elected President Dilma has pledged to continue investment in Brazil’s new middle classes. Under this investment, Brazil has experienced spectacular economic and social growth. A glance at statistics in key areas since 2002 shows impressive increases in both Brazilian wealth and social status. Although there is still plenty to do to fulfil Dilma’s pledge to end
Middle Managers Business Software Perception
The purpose of "inlevel 2011 Report: Middle Management as Business Software Influencer's" based on survey conducted between American middle managers was to check their approach to business software. Do they have influence on software they use? What they need? Do business software vendors pay enough attention to them? Middle managers are not typical decision makers within enterprise. However, 42% of them actively act during enterprise software selection process. They want to