Sunglasses Market Research Report - Global Forecast till 2030

Sunglasses Market Research Report: Information by Type (Aviator/Pilot, Wayfarer, Rectangle, Round, Cat Eye, Oval, and Others), by Distribution Channel (Store-Based and Non-Store-Based), and by Region (North America, Europe, Asia-Pacific, and the Rest of the World)—Forecast till 2030

ID: MRFR/CR/1325-HCR | February 2021 | Region: Global | 110 pages         

Sunglasses Market

As Per the sunglasses industry analysis, the market growth is estimated at 4.10%. Also, the market value of the sunglasses market is projected as 20,210.8 million.

Segmentation

By Type Aviator/Pilot Wayfarer Rectangle Round Cat Eye Oval Others
By Distribution Channel Store-Based Non-Store-Based
By Region North America Europe Asia-Pacific Row

Key Players

  • Kyboe
  • De Rigo Vision S.p. A
  • XIAMEN ASA SUNGLASSES CO
  • Essilor
  • CHARMANT Group
  • Marcolin SpA.
  • Pivothead
  • FASTRACK LTD
  • Marchon Eyewear
  • Specsavers
  • Alexander McQueen

Drivers

  • Rising Disposable Income
  • Improving Quality of Life of Populace
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Sunglasses Market overview 


Sunglasses are crucial eyewear equipment that protects the eyes from harmful UV rays. The sunglasses are tinted to prevent the sunlight from directly hitting the eyes. There are two categories of best sunglasses on the market. Polarized and non-polarized are the two types of glasses. These glasses come with plenty of customizations in terms of design, shape, size and type. Also, there are chelsea market sunglasses and plano sunglasses market.  The sunglasses used as spectacle glasses according to the user's eye requirement.


The sunglasses lenses are made with plenty of material such as glass, plastics and polycarbonate. The sunglasses with the polychromic are lens that is suitable to protect the eyes from UV rays. The sunglass turns into black lenses in sunlight. The sunglasses are a crucial accessory. Also, it is not only a style statement but eyewear with medical benefits. The market is growing at an exponential pace. As per the sunglasses industry analysis, the market growth is estimated at 4.10%. Also, the market value of the sunglasses market is projected as 20,210.8 million during the forecast 2030.


Covid analysis 


The covid 19 is an unexpected event that has caused plenty of damages to global markets. Most of the markets are affected due to the global restrictions due to the pandemic. The worldwide restrictions have also affected the overall sunglasses market. Also, sunglasses are non-essential items during the pandemic. Consumer spending is directed towards the essential items during this situation.


Also, the sunglasses are available online and in fashion stores. However, the online stores and physical fashion stores are closed during the covid 19. It has reduced the overall growth of the market in the forecast period. However, post covid 19, the manufacturing process will resume. Further, the market will receive exceptional demand in the upcoming period. 


Market dynamics 



  • Crucial market drivers 


The growing demand for the contact lenses market is a crucial factor for the high demand for the sunglasses industry. Polarized sunglasses aid people with eye problems to protect their eyes from harsh UV rays. The penetration of contact lenses is a crucial driver for the market. Also, during the forecast period, the demand for polarized market will be massive. Further, sunglasses are the best option for individuals sensitive to light.


In general, sunglasses enable individuals to view clearly when sun rays hit the eye. The increasing amount of disposable income is another factor that boosts the market. The rising disposable income fuels consumer spending through accessories such as sunglasses. The interest of customers to spend on fashion items is benefiting the overall growth of the sunglasses market. Further, the improving lifestyle of people is encouraging them to purchase fashion items such as sunglasses. Today, even in underdeveloped regions the demand for sunglasses is high. Due to the beneficial features, the growth rate of the sunglasses target market is high in the forecast year. 



  • Market growth opportunities 


The increasing customer choice to purchase the sunglasses offers growth opportunities for the market. Most of the customer is inclined to purchase more of these fashion accessories in the upcoming years. This interest of customer will ultimately create plenty of growth prospects for the sunglasses market. 


The innovation in the sunglasses market is another factor that offers growth prospects. The innovation in sunglasses will provide a new variety of products. The innovation will enable more shades and designs of the sunglasses. It will attract more customers due to its design and new variations. Moreover, the production of eye-protective sunglasses will rise in the forecast period. The rise of eye protective glasses will benefit many customers having eye issues. It is a factor that offers exceptional growth opportunities. During the forecast period, the growth opportunities will reach the maximum rate. 



  • The market restraints


The demand for branded glasses is massive in the forecast period. The branded glasses are most preferred by some of the popularity as it comes with quality features. The branded glasses come with high-end protective lenses. Also, the product variation is higher in the branded sunglasses segment. However, the cost of these branded sunglasses is the major resistance to the market. Most of the branded sunglasses are overpriced. Only a few individuals in society can afford these sunglasses. 


Some of the branded sunglasses are also considered luxury fashion item. The high cost of the product acts as a threat to the market. Due to the price, the demand is affected. The markets can show a declining figure during the forecast period. The high-quality raw materials, sophisticated manufacturing process adds up more cost for the final product. The high cost of the branded sunglasses may affect the demand-supply chain. 



  • The market challenges 


The wide range of cheap alternatives in the sunglasses market is the major challenge. The poor quality alternatives of brand sunglasses can cause several eye problems in individuals. Flea market sunglasses are available for a low price. The lens and materials used in these glasses are not made from quality items. Also, it will not offer proper protection from UV rays and other harmful dust in the environment.


 All these factors pose a major challenge to the overall market. Also, there is a duplication of branded sunglasses in the market. Most of the customers purchase the duplicated sunglasses that look like branded sunglasses. All these issues occur due to the lack of brand awareness. Also, there are only a few brands in the sunglasses industry that have brand recognition. These factors can affect the demand of the market in the forecasts period. 



  • Cumulative growth analysis 


The overall growth rate of the sunglasses market looks steady in the forecast year. The crucial drivers of the market keep on boosting the overall demand in the forecast year. Further, the crucial drivers such as polarized market growth are positively affecting the market. Also, the development in disposable income is another factor that raises the growth rate of the market. However, some issues should be fixed in the market. The high cost of the branded sunglasses is a crucial challenge to the market. It can hamper the growth in the forecast period. The customer interest to purchase sunglasses and other fashion accessories is another driver that offers future growth opportunities for the market. Due to all these factors, the sunglasses market growth looks positive in the forecast period. 



  • Value chain analysis 


North America holds the highest sunglasses market share. It is a region with exceptional insights into UV rays. The market makes huge investment in the R&D of UV rays. The sunglasses made in this region come with high-end protection from UV rays. It offers excellent protection for the eyes. Consumer spending on the market is high. Due to high consumer spending, the market growth keeps on escalating. The high consumer spending offers plenty of development and growth opportunities to the market. The diverse fashion trend will also escalate the overall market growth in the year 2024. 


Segment overview 


Sunglasses Market By type 



  • Oval 

  • Aviator and pilot 

  • Cat-eye 

  • Wayfarer 

  • Rectangle 

  • Eye 


Sunglasses Market By distribution channel 



  • Non-based 

  • Store-based 


Sunglasses Market By region 



  • North America

  • Europe 

  • Asia pacific 


Regional Market Summary Global Sunglasses Market Share (%), by Region, 2018 Sunglasses Market
Source: Secondary Sources and MRFR Analysis 


Regional analysis 


North America holds dominance in the sunglasses market. It is the largest and most powerful market from the rest of the regions. The high spending from the consumer end is offering plenty of growth opportunities in the market. The popularity of fashion product is high in this region. All these aspects create high revenue opportunities for North America. Europe is the next best market. 


The market is massive with plenty of growth opportunities. Europe is a Hubspot for fashion. The market is wide with product development and variation. Europe is expected to achieve the highest profitability in the market. the sunglasses industry in uk  is booming. The Asia Pacific is the next top key player. The effects of UV rays and harsh sun are high in this region. It compels individuals to wear sunglasses during the day. The increasing awareness about sunglasses is fuelling the market growth in this region. 


Competitive landscape 


The market is highly competitive. The market players are introducing plenty of new products in the forecast year. Also, cist cut down and market expansion is happening at an exponential pace. 


The key players of the sunglasses market 



  1. Kyboe

  2. De Rigo Vision S.p. A

  3. XIAMEN ASA SUNGLASSES CO

  4. Essilor

  5. CHARMANT Group

  6. Marcolin SpA.

  7. Pivothead

  8. FASTRACK LTD

  9. Marchon Eyewear

  10. Specsavers

  11. Alexander McQueen


Recent developments  



  1. The key players of the market are introducing the new version of sunglasses that come with extra eye protection. These sunglasses are suitable for individuals having complex eye issues. 



  1. The key players of the market are introducing plenty of portfolios in several regions. These portfolios will offer plenty of profitability for the market. 



  1. The key players of the market are making more brand awareness by partnering with the top cosmetics and beauty industry. 


Report overview 



  1. Market overview highlights 

  2. Analysis based upon COVID 19

  3. Explanation upon the Market Dynamics

  4. Value chain analysis

  5. Market segmentation overview

  6. The regional analysis

  7. Competitive landscape analysis

  8. Recent Developments



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Frequently Asked Questions (FAQ) :

sunglasses market is projected to grow at approximately 4.10% CAGR during the assessment period (2020-2030).

sunglasses market is estimated to reach a valuation of approx. USD 20,210.8 million by the end of 2030.

Rising disposable incomes and improving quality of life of populaces, are major tailwinds pushing the growth of the global sunglasses market.

North America holds the largest share in the global sunglasses market, followed by Europe and the Asia Pacific, respectively.

Safilo Group S.p.A. (Italy), Wenzhou Eugenia Eyewear Factory (China), De Rigo Vision S.p.A. (Italy), Marcolin SpA. (Italy), Revo Holdings, LLC (US), Eyewear, Inc. (US), Marchon Luxottica Group S.p.A. (Italy), Randolph Engineering, Inc. (US), Fielmann AG (Germany), Alexander McQueen Trading Limited (UK), Maui Jim (US), Nike, Inc. (US), and Eyeking LLC (US), are some of the top players in the global sunglasses market.