Overview and Scope
Sunglasses are glasses with tinted or colored glasses which protect the eyes from sunlight. It helps to eliminate harmful effects on the eyelid, cornea, lens, and retina. Additionally, patients are advised to use sunglasses after some surgical procedures.
Sizing and Forecast
The sunglasses market size has grown strongly in recent years. It will grow from $17.22 billion in 2023 to $18.87 billion in 2024 at a compound annual growth rate (CAGR) of 9.6%. The growth in the historic period can be attributed to fashion trends, increasing UV radiation awareness, celebrity endorsements, tourism and travel trends, outdoor activities.
The sunglasses market size is expected to see strong growth in the next few years. It will grow to $26.26 billion in 2028 at a compound annual growth rate (CAGR) of 8.6%. The growth in the forecast period can be attributed to rising health consciousness, travel and tourism growth, social media influence, climate change impact, sports and outdoor lifestyle trends, brand collaborations and marketing. Major trends in the forecast period include celebrity and fashion influences on design, expansion of augmented reality (AR) try-on experiences, introduction of smart sunglasses with connectivity features, focus on gender-neutral and inclusive designs, collaborations with sustainable fashion brands.
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Segmentation & Regional Insights
The sunglasses market covered in this report is segmented –
1) By Type: Non-Polarized, Polarized
2) By Design: Aviator/Pilot, Rectangle, Round, Square, Oval, Cat Eye, Other Designs
3) By Frame Metal: Injected, Metal, Acetate, Other Frame Metals
4) By Distribution Channel: Specialty Stores, Supermarkets & Hypermarkets, Online, Other Distribution Channels
North America was the largest region in the sunglasses market in 2023 and it is also expected to be the fastest-growing region in the forecast period. The regions covered in the sunglasses market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The growing popularity of sunglasses as a fashion product is expected to propel the growth of the sunglasses market. The rise of consumer preference for well-designed and quality products to elevate their outfit and style has boosted the demand for sunglasses. Sunglasses bring instant symmetry to customers’ faces, which increases the perception of their natural beauty. For instance, according to a report published by a nonprofit trade association for manufacturers and suppliers of the optical industry in the USA, The Vision Council in 2021, a whopping 85% of the world’s adult population reports wearing sunglasses, and they mostly use them for sun protection, and some use it as prescription sunglasses with corrective lenses. Therefore, the growing popularity of sunglasses as a fashion product is driving the growth of the sunglasses market.
Key Industry Players
Major companies operating in the sunglasses market report are LVMH Moët Hennessy Louis Vuitton, Johnson & Johnson Vision Care Inc., Essilor International SAS, EssilorLuxottica SA, Kering SA, Luxottica Group S.p.A., Persol Holdings Co Ltd., Coach Inc., Burberry Group plc, VSP Global Inc., American Optical Company, Fielmann AG, Safilo Group S.p.A., Marcolin S.p.A., De Rigo Vision S.p.A., Oakley Inc., Maui Jim Inc., Oliver Inc., Julbo SA, Eyeking LLC, Alain Mikli International, Eyevan Inc., Bolon AB, Costa Del Mar Sunglasses Inc., Allure Eyewear LLC, Randolph Engineering Inc., Stylrite Optical Industries Pvt Ltd., AmSun Technology Private Limited, Bvlgari SpA, Dolce & Gabbana Srl, Michael Kors Holdings Limited, Polo Ralph Lauren Corp, Prada SpA, Ralph Lauren Corp, Tiffany & Co, Gianni Versace S.r.l., Ray-Ban Sun Optics Pvt Ltd.
The sunglasses market report table of contents includes:
1. Executive Summary
2. Sunglasses Market Characteristics
3. Sunglasses Market Trends And Strategies
4. Sunglasses Market – Macro Economic Scenario
5. Global Sunglasses Market Size and Growth
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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