Sunglasses Market Segmentation by Type (Polarized, and Non-Polarized); by Design (Aviator, Rectangle, Round, Square, Oval, Cat Eye, and Others); by Frame Material (Acetate, Metal, Injected, and Others); and by Distribution Channel (Supermarket, Specialty Store, Convenience Store, and Online Sales Channel)-Global Demand Analysis & Opportunity Outlook 2031

Global Sunglasses Market Highlights Over 2022 – 2031

The global sunglasses market is estimated to garner notable revenue of approximately USD 19 billion by the end of 2031, by growing at a CAGR of ~5% over the forecast period, i.e., 2022 – 2031. The growth of the market can be attributed to the increasing consumer awareness regarding eye protection and the rise in disposable income. Moreover, the growing demand for fashionable accessories among the global population is another significant factor responsible for fuelling the growth of the global sunglasses market over the forecast period. Sunglasses are meant to provide comfort to the eyes by blocking the bright rays of the sun. According to National Centre for Biotechnology Information, high annual UV-B exposure increased their risk of cortical cataract 3 times, while doubling in lifetime exposure to UV-B rays increases 60% risk of cortical cataract.  Sunglasses shield the eyes from harmful UV radiation. Hence this is expected to play a significant role in growth of global sunglasses market.

Source Name: Kenneth Research

GET A SAMPLE COPY OF THIS REPORT
 

The global sunglasses market is segmented on the basis of distribution channel into supermarket, speciality store, convenience store, and online sales channel. Out of these, the speciality store segment is expected to grow significantly during the forecast period, on the back of easy availability of desired brands, designs, and colours of sunglasses. Moreover, the online sales channel segment is also estimated to garner modest growth over the forecast period, owing to the increasing adoption of e-commerce amongst the global population.

Global Sunglasses Market Regional Synopsis

Regionally, the global sunglasses market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in North America region held the largest market share in 2022 and is anticipated to continue to do so during the forecast period, owing to the high purchasing capacity of the majority of the population over the region, high demand for luxury, and superior quality products, and consumer awareness regarding vision care. In the North America region, the disposable income per capita has been increasing significantly throughout the years. According to The World Bank, disposable income per capita over the region in 2019 was USD 55,419 and it is anticipated to grow notably over the forecast period. This is a major factor that will boost the growth of the global sunglasses market in the region.

Source Name: Kenneth Research

Market Segmentation

Our in-depth analysis of the global sunglasses market includes the following segments:

• By Type

  • Polarized

  • Non-Polarized

• By Design

  • Aviator

  • Rectangle

  • Round

  • Square

  • Oval

  • Cat Eye

  • Others

• By Frame Material

  • Acetate

  • Metal

  • Injected

  • Others

• By Distribution Channel

  • Supermarket

  • Specialty Store

  • Convenience Store

  • Online Sales Channel

Growth Drivers and Challenges Impacting the Growth of the Global Sunglasses Market

Growth Drivers:

• Increasing Consumer Awareness Regarding Eye Protection

• Rise in Disposable Income of Major Population Across the Globe

• Growing Demand for Fashionable Accessories Among the Global Population

Challenges:

• High Cost of Sunglasses

• Lack of Innovation in Sunglasses Designing

Key Companies Dominating the Global Sunglasses Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global sunglasses market that are included in our report are EssilorLuxottica SA, Safilo Group S.P.A., Fielmann AG, De Rigo Vision S.p.A., Randolph Engineering, Inc., Stylrite Optical Industries, Eyevan Inc., Eugenia Eyewear Company Ltd., Louis Vuitton Malletier SAS, Marcolin SpA., and others.

Latest Developments in the Global Sunglasses Market:

• 22 November 2021 - Safilo Group S.P.A. announced the opening of a subsidiary and a dedicated showroom for its customers in Warsaw, Poland. With this new subsidiary, the company aims at expanding its presence in the area and also offer high-level support and service to the opticians.

• 25 May 2022 - EssilorLuxottica announced the launch of the One Sight EssilorLuxottica Foundation which comes as a sustainability strategy of EssilorLuxottica to support its commitment to advocate for good vision as a basic human right.

Key Reasons to Buy Our Report

• The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.

• It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.

• The report includes detailed company profiles of the major players dominating the market.

• We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.

• We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

.