The global sunglasses market size is anticipated to reach 36,459.5 million by 2026 according to a new study published by Polaris Market Research. The report “Sunglasses Market Share, Size, Trends, Industry Analysis Report, By Lens Type (Polarized, Non-Polarized); By Material (CR-39, Polycarbonate, Polyurethane, Others); By Distribution Channel (Offline Stores, Online Channels); By Regions, Segments & Forecast, 2019 – 2026” provides detailed market insight and taps future market trends.
In 2018, offline stores accounted for highest market share in terms of revenue. North America is expected to be the leading market for sunglasses in revenue terms in 2018. The main drivers to growth of sunglasses are the increasing awareness amongst consumers to the lurking dangers posed to the naked eye by harmful UV rays and secondly, a rising living standard.
The increasing will to adopt latest styles, and sunglasses having been nick-named as a cool and indispensable fashion accessory boosts the sunglasses market growth. The essential expansion of Internet and rise of e-commerce, use of smart phones and a proportional chunk of technologically abreast consumers would support growth. The high-end premium technology segment has been growing at a steady rate in industry growth and displays a lot of promise in years to come.
The products are now a days looked upon less as a fashion accessory and more as an indispensable aid to shut out UV radiation. The products have brand recall factor and are a step ahead in its race for chic tag. Sunglasses that offer shade, but no UV protection cause pupils to dilate and provide access to more of those harmful rays.
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The cool fashion quotient that sunglasses have come to be identified with has encouraged consumers to buy the latest chic designs and luxury brands. The growing retail industry, modern retail practices, growing technological advancements and online trading would increase the sales of sunglasses during the forecast period. Increasing exports and product innovations are supporting eye wear market across the region.
The growing disposable incomes have encouraged consumers to buy the product that more often than not live up to their living standards. Furthermore, consumers are rooting for trendy and designer sunglasses that will enhance their personality to some extent. Hence epitome of fashion consciousness and high and uptown living standards would contribute to the growth of the sunglasses.
Sale of product through online channels has been attracting considerable footfalls over the years. This trend off online shopping is gaining significant traction in developing economies that applies to prominent players to distribute their products globally. New entrants are also showcasing their products online. Online platforms offer market players a marketplace to distribute their products while lowering operational costs.
North America leads the sunglasses industry in terms of revenue and is expected to lead throughout forecast period. Increasing population, high disposable incomes and growing health consciousness has propelled growth in the region.
The leading players in market include Luxotica Group, S.p.A, Prada S.p.A, Safilo Group S.p.A, Fielman AG, De Rigo Vision, Alexander McQueen, Michael Kors, LVMH Moet Henessey Louis Vuitton SE, Marcolin Eyewear and Maul Jim.
Polaris Market research has segmented the sunglasses market on the basis of product type, application, end-use and region.
- Sunglasses Lens Type Outlook (Revenue, USD Million, 2015 – 2026)
- Sunglasses Material Outlook (Revenue, USD Million, 2015 – 2026)
- CR 39
- Sunglasses Distribution Channel Outlook (Revenue, USD Million, 2015 – 2026)
- Offline Stores
- Online Channels
- Sunglasses Regional Outlook (Revenue, USD Million, 2015 – 2026)
- North America
- Asia Pacific
- Latin America
- Saudi Arabia
- South Africa
- North America