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Global Sunglasses Market - Growth, Trends, and Forecast (2022 - 2030)
SKU ID : INH-13104383 | Publishing Date : 18-Sep-2018 | No. of pages : 110
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Sunglasses Market Insight
The global sunglasses market is projected to grow at the rate of 7.7% during the forecast period 2018 to 2023. Key players in sunglasses market are aggressively implementing their online advertising and promotional activities, online marketing and promotion does not only provide customers the easy access, but also helps key players reduce operational costs. This factor is likely to boost the sales of sunglasses through online platform in the upcoming years. Increasing experimental approach of consumers is providing opportunities for sunglasses manufacturers and retailers to expand their consumer base. Sunglasses made from plastic lenses are witnessing huge demand as sunglasses they are more popular among the consumer as polycarbonate is affordable, strongest, most durable plastics made, and is used in many types of sunglasses.
Growing Awareness about Eye Health to Drive the Sunglasses Market Growth
Increasing awareness regarding side effects of UV rays and rising acceptance of sunglasses as a part of lifestyle accessories is playing key role to drive the market growth. Availability of wide range of sunglasses such as aviator, butterfly, cat eye, rectangle, wayfarer etc. is supporting the sales of sunglasses across the globe. Continuously changing fashion trends and development of new lens technologies as per customer requirement is expected to drive the growth of the market. For instance, Rodensteck a Germany based company recently launched new innovative athletic sunglasses with additional features such as the heart rate monitoring and a stopwatch in the peripheral vision of the sunglasses.
Polarized Sunglasses to Witness Fastest Growth during the Forecast Period
The increased level of competition in sunglasses market has resulted on pricing strategy and the product innovation. In sunglasses market, celebrities tend to have major sway over consumers purchasing decisions, especially when it comes to premium sunglasses and key players are using celebrities for product endorsement. For instance, Italy-based Luxottica Group vogue sunglasses brand has signed up a celebrity for brand endorsement in India to boost the sales of the sunglasses in the country. Key players are focusing to improve the distribution network and offering their products through online platforms such as in order to strengthen their online presence across globe. These distribution channels helps sunglasses companies to offer a large product portfolio along with the option of instant testing and receiving immediate feedback which is expected to support the market growth during the forecast period.
Asia-Pacific Region to Witness Higher Growth Rate during Forecast Period
Asia-Pacific region is witnessing growth in demand for sunglasses products from last few years which is encouraging key players to introduce new products in the Asian countries especially in India and China. Increasing impact of digital advertisement and social media along with increasing adaptation for smart wearable devices is likely to drive the market growth in the Asia-Pacific region. Easy availability, increasing expenditure to buy lifestyle products, growth in the product awareness among consumers, and the growing demand for the early precaution of vision disorders are also playing key role to drive the market growth in the region. Moreover, rising participation in sports is driving demand of sports sunglasses in developing countries which is likely to play key role in the sunglasses market growth during forecast period.
Key Developments in the Sunglasses Market
Jul 2018 - Vista Outdoor Inc. has announced a deal to sell its Bolle, Cebe, and Serengeti Sunglasses brands to a European private equity fund for approximately USD 158 million to focus on its shooting, ammunition and hunting product categories.
Jul 2018 - Chanel has launched sunglasses on its UK e-commerce platform. The French luxury brand previously sold only cosmetics online in the UK, whilst in the US it launched Sunglasses in 2015.
Sunglasses Market Competitive Landscape
Major Key Players - De Rigo S.p.A., Essilor International S.A, Fielmann AG, Jeanne Lanvin S.A., Luxottica Group S.p.A., LVMH Moët Hennessy Louis Vuitton S.E., Marchon Eyewear, Inc., Marcolin S.p.A., Maui Jim Inc, Pivothead, REVO, Inc. and Safilo Group S.p.A, among others.
Reasons to Purchase Sunglasses Market Research Report
• Analyzing outlook of the market with the recent trends and Porters five forces analysis
• Market dynamics, which essentially consider the factors, which are impelling the present market scenario, along with growth opportunities of the market in the years to come
• Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
• Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market
• Competitive landscape involving the market share of major players, along with the key strategies adopted for development in the past five years
• Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
• 3-month analyst supports, along with the Market Estimates sheet in excel
Customization of Sunglasses Market Research Report
This report can be customized to meet your requirements. Please connect with our analyst, who will ensure you get a report that suits your needs.
The global sunglasses market is projected to grow at the rate of 7.7% during the forecast period 2018 to 2023. Key players in sunglasses market are aggressively implementing their online advertising and promotional activities, online marketing and promotion does not only provide customers the easy access, but also helps key players reduce operational costs. This factor is likely to boost the sales of sunglasses through online platform in the upcoming years. Increasing experimental approach of consumers is providing opportunities for sunglasses manufacturers and retailers to expand their consumer base. Sunglasses made from plastic lenses are witnessing huge demand as sunglasses they are more popular among the consumer as polycarbonate is affordable, strongest, most durable plastics made, and is used in many types of sunglasses.
Growing Awareness about Eye Health to Drive the Sunglasses Market Growth
Increasing awareness regarding side effects of UV rays and rising acceptance of sunglasses as a part of lifestyle accessories is playing key role to drive the market growth. Availability of wide range of sunglasses such as aviator, butterfly, cat eye, rectangle, wayfarer etc. is supporting the sales of sunglasses across the globe. Continuously changing fashion trends and development of new lens technologies as per customer requirement is expected to drive the growth of the market. For instance, Rodensteck a Germany based company recently launched new innovative athletic sunglasses with additional features such as the heart rate monitoring and a stopwatch in the peripheral vision of the sunglasses.
Polarized Sunglasses to Witness Fastest Growth during the Forecast Period
The increased level of competition in sunglasses market has resulted on pricing strategy and the product innovation. In sunglasses market, celebrities tend to have major sway over consumers purchasing decisions, especially when it comes to premium sunglasses and key players are using celebrities for product endorsement. For instance, Italy-based Luxottica Group vogue sunglasses brand has signed up a celebrity for brand endorsement in India to boost the sales of the sunglasses in the country. Key players are focusing to improve the distribution network and offering their products through online platforms such as in order to strengthen their online presence across globe. These distribution channels helps sunglasses companies to offer a large product portfolio along with the option of instant testing and receiving immediate feedback which is expected to support the market growth during the forecast period.
Asia-Pacific Region to Witness Higher Growth Rate during Forecast Period
Asia-Pacific region is witnessing growth in demand for sunglasses products from last few years which is encouraging key players to introduce new products in the Asian countries especially in India and China. Increasing impact of digital advertisement and social media along with increasing adaptation for smart wearable devices is likely to drive the market growth in the Asia-Pacific region. Easy availability, increasing expenditure to buy lifestyle products, growth in the product awareness among consumers, and the growing demand for the early precaution of vision disorders are also playing key role to drive the market growth in the region. Moreover, rising participation in sports is driving demand of sports sunglasses in developing countries which is likely to play key role in the sunglasses market growth during forecast period.
Key Developments in the Sunglasses Market
Jul 2018 - Vista Outdoor Inc. has announced a deal to sell its Bolle, Cebe, and Serengeti Sunglasses brands to a European private equity fund for approximately USD 158 million to focus on its shooting, ammunition and hunting product categories.
Jul 2018 - Chanel has launched sunglasses on its UK e-commerce platform. The French luxury brand previously sold only cosmetics online in the UK, whilst in the US it launched Sunglasses in 2015.
Sunglasses Market Competitive Landscape
Major Key Players - De Rigo S.p.A., Essilor International S.A, Fielmann AG, Jeanne Lanvin S.A., Luxottica Group S.p.A., LVMH Moët Hennessy Louis Vuitton S.E., Marchon Eyewear, Inc., Marcolin S.p.A., Maui Jim Inc, Pivothead, REVO, Inc. and Safilo Group S.p.A, among others.
Reasons to Purchase Sunglasses Market Research Report
• Analyzing outlook of the market with the recent trends and Porters five forces analysis
• Market dynamics, which essentially consider the factors, which are impelling the present market scenario, along with growth opportunities of the market in the years to come
• Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
• Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market
• Competitive landscape involving the market share of major players, along with the key strategies adopted for development in the past five years
• Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
• 3-month analyst supports, along with the Market Estimates sheet in excel
Customization of Sunglasses Market Research Report
This report can be customized to meet your requirements. Please connect with our analyst, who will ensure you get a report that suits your needs.
Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
- By product type
- By End User/Applications
- By Technology
- By Region
The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
