Market is Projected to Grow at a CAGR of 5.0% During 2020-2026F
The Nigerian eyewear market witnessed moderate growth during the period spanning 2016-2019 due to rising consumer consciousness and an increasing middle-class population leading to increased spending on fashion products. Furthermore, rising concerns for quality products for vision correction coupled with increased brand consciousness amongst the consumers are some of the factors driving the growth of the Nigerian eyewear market.
Additionally, the COVID-19 pandemic hit the country in 2020, due to which lockdown was imposed in the country and several other countries as well which resulted in supply chain disruptions, thereby leading to a slowdown in market growth. Furthermore, the closure of markets across the country also had an adverse impact on market demand.
However, recovery is expected in the market owing to increase in digitalization and work from home policy adopted by most of the companies, prompting increased usage of electronic devices, thus, fostering the demand for anti-glare eyewear products for eye protection.
According to the publisher, the Nigerian eyewear market size is projected to grow at a CAGR of 5.0% during 2020-2026F. The primary reason for growth in the Nigerian eyewear industry can be attributed to the higher proportion of young and middle aged people in the overall population, along with rising screen time of both the working population and children.
Moreover, the increase in air pollution and high UV rays penetrating the atmosphere would further augment the demand for protective glasses in the forthcoming period, owing to increasing awareness among people regarding their health.
Additionally, with rapid urbanization and increasing internet penetration, there has been a tremendous increase in online shopping, online gaming and trading along with online studying and working as well, leading to eye strains as a result of the blue light of the electronic screens, which would further enhance the need for protective glasses and spectacles in the coming years.
On the basis of product, spectacles dominated the Nigeria eyewear market as a result of increased exposure to smartphones, laptops and computer screens due to the changing lifestyle and technological advancement.
However, the market demand for sunglasses is anticipated to grow at a faster pace in the coming years underpinned by rising fashion statements amongst the young population in the country coupled with changing climatic conditions due to which the need for eye protection is rising.
The Nigerian eyewear market report thoroughly covers the market by products, types, distribution channels, and regions. The report provides an unbiased and detailed analysis of the on-going Nigeria eyewear market trends, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
Key Highlights of the Report
- Nigeria Eyewear Market Overview
- Nigeria Eyewear Market Outlook
- Nigeria Eyewear Market Forecast
- Nigeria Eyewear Market Size and Nigeria Eyewear Market Forecast for the Period, 2020-2026F
- Nigeria Eyewear Market Share, By End Users
- Nigeria Eyewear Market Share, By Products
- Nigeria Eyewear Market Share, By Distribution channels
- Nigeria Eyewear Market Share, By Regions
- Historical Data and Forecast of Nigeria Eyewear Market Revenues, for the Period 2016-2026F
- Historical Data and Forecast of Nigeria Eyewear Market Revenues for the Period 2016-2026F
- Historical Data and Forecast of Nigeria Eyewear Market Revenues, By Types, for the Period 2016-2026F
- Historical Data and Forecast of Nigeria Eyewear Market Revenues, By Applications, for the Period 2016-2026F
- Historical Data and Forecast of Nigeria Eyewear Market Revenues for the Period 2016-2026F
- Historical Data and Forecast of Nigeria Eyewear Market Revenues, By Types, for the Period 2016-2026F
- Historical Data and Forecast of Nigeria Eyewear Market Revenues, By Applications, for the Period 2016-2026F
- Historical Data and Forecast of Nigeria Eyewear Market Revenues, By Regions, for the Period 2016-2026F
- Nigeria Eyewear Market Revenue Share, By Market Players
- Nigeria Eyewear Market Overview on Competitive Benchmarking
- Nigeria Eyewear Market Drivers and Restraints
- Nigeria Eyewear Market Trends
- Competitive Benchmarking
- Key Strategic Recommendations
Markets Covered:
The Nigeria Eyewear Market Report provides a detailed analysis of the following market segments:
By End Users
- Men
- Women
- Unisex
By Products
- Sunglasses
- Spectacles
- Contact Lenses
- Others
By Distribution Channels
- Online
- Offline
By Region
- Northern Region
- Western Region
- Eastern Region
Table of Contents
1. Executive Summary
Samples
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