The global sunglasses market was valued at $17,951 million in 2018 and is anticipated to grow at a CAGR of 9.4% during the forecast period. Sunglasses are eyewear designed for protection of the eyes from excessive sunlight. Eyes are extremely light sensitive and can be easily damaged by overexposure to radiation in the visible and nonvisible spectrum. Excessive exposure to sun causes soreness, headaches, and sometimes permanent damage to the lens, retina, and cornea. Sunglasses consist of a pair of light-filtering lenses and a frame to hold them in place. Most of the lenses are made of colorized plastic such as polycarbonate. However, high quality brands use glass for production of sunglasses. The borosilicate glass used in lenses is scratch resistant and is made impact resistant by tempering it with various chemical treatments.
The Sunglasses market is influenced by improved economic conditions, demographic and socio-economic changes, and rising awareness regarding eye protection against harmful UV rays. Factors such as growing urbanization, ageing population in developed countries, and an emerging middle class in developing economies heavily impacts the Sunglasses market growth. The growth in living standards of consumers and increasing fashion trends improve the Sunglasses market growth rate. The increasing demand of branded and luxury sunglasses, increasing disposable income, and technological advancements further supplement the growth of the sunglasses market. Expansion of established companies into emerging economies and increasing sales of sunglasses through online channels would provide numerous growth opportunities for the sunglasses industry. Digitalization and the ongoing development of new retail channels, and online platforms have also fostered the sunglasses market growth.
North America Sunglasses Market Share By Distribution Channel, 2017 & 2026
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The global Sunglasses market is segmented on the basis of lens type, material, distribution channel, and region. The Sunglasses market report segments the lens type into polarized, and non-polarized. The polarized segment is expected to grow at the highest rate during the forecast period. Polarized lenses are coated with a special chemical film that helps reduce glare. The ability of these lenses to reduce eyestrains, offer clear vision, along with increasing adoption of e-commerce drives the growth of this sunglasses market segment.
The material segment is categorized into CR-39, polycarbonate, polyurethane, and others. The CR-39 segment dominated the global Sunglasses market in 2018 owing to features such as high durability, and increased resistance to harmful UV rays. Brand owners are introducing high quality and technologically advanced lenses to increase their Sunglasses market share.
The distribution channel segment is divided into offline stores, and online channels. The offline stores segment accounted for the highest Sunglasses market share in 2018. However, the online channels segment is expected to grow at the highest rate during the forecast period. Online distribution channels offer a global platform to market players for expansion of customer base, while reducing operation cost.
By Lens Type
By Distribution Channel
This report comprises a detailed geographic analysis of the Sunglasses market across North America, Europe, Asia-Pacific, Latin America, and MEA. North America is further segmented into U.S., Canada, and Mexico. Europe is divided into Germany, UK, Italy, France, and Rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, and Rest of Asia-Pacific. Asia-Pacific is expected to grow at the highest CAGR during the forecast period due to increasing health concerns, and increasing disposable incomes. The rising living standards, and growing adoption of fashion trends have accelerated the growth of the Sunglasses market in this region.
The leading players in the Sunglasses market include Luxottica Group S.p.A, Prada S.p.A, Safilo Group S.p.A, Fielmann AG, De Rigo Vision, Alexander McQueen, Michael Kors, LVMH Moët Hennessy Louis Vuitton SE, Marcolin Eyewear, and Maui Jim among others. These leading players are introducing innovative products in the Sunglasses industry to cater to the growing demand for consumers. Global players are entering new markets in developing regions to expand their customer base, strengthen market presence, and increase their Sunglasses market share.