Sunglasses Market To Witness A Significant Growth Of USD 48.19 Billion By 2030


 San Francisco, 2 Feb 2023: The Report Sunglasses Market Size, Share & Trends Analysis Report By Product (Polarized, Non-polarized), By Distribution Channel (Offline, Online), By Region, And Segment Forecasts, 2022 - 2030

The global sunglasses market size is expected to reach USD 48.19 billion by 2030, according to a new report by Grand View Research, Inc., expanding at a CAGR of 6.1% from 2022 to 2030. The key drivers of the market include advanced and improved products and services that meet specific client needs. Additionally, increasing consumer inclination toward well-designed and quality products to increase their outfit and style has increased the demand for sunglasses. Customers are more expected to buy new products than old ones. Manufacturers' advanced breakthroughs have allowed them to present sunglasses with extra utility. Counterfeit products negatively impact the sales and pricing strategies of major players' offerings, thus hampering the growth of the market.

The COVID-19 pandemic had a negative impact on the market. The COVID-19 pandemic affected manufacturing activities and disrupted the distribution network of the market internationally. The government’s strict limitations and guidelines regarding social distancing and complete lockdowns had led to huge losses for the companies operating in the market. All the major brand outlets and other sales channels were closed for the lockdown period. The future of the market depends on the digitization of the supply chains in the sunglasses industry all over the world.

Non-polarized sunglasses accounted for the largest share of over 70.0% in 2021. This is due to their effectiveness in different environmental conditions. Consumers buy sunglasses owing to their fashion proportion, and polarization is only a relevant criterion for individuals that need targeted usage, such as for cycling. It is a popular choice for customers globally owing to its easy accessibility in both offline and online channels.

Europe dominated the global market and held a share of over 35.0% in 2021. This is attributed to the presence of leading industry players and the high disposable income of buyers in the region. An increase in awareness regarding unsafe UV beams among buyers is a key factor that is credited to the popularity in the region. The large percentage of spectacle wearers, along with booming retail prices of frames, will drive the market in this region.

Key players operating in the market are focused on offering high-quality sunglasses in new frame styles as well as lens colors to attract customers. For instance, MaumiJi, Inc. offers polarized reading sunglasses that are manufactured using bifocal lenses and are specially designed to read in intense sunlight.

Access Research Report of Sunglasses Market @ https://www.grandviewresearch.com/industry-analysis/sunglasses-market

Sunglasses Market Report Highlights

  • Asia Pacific is expected to witness the fastest growth from 2022 to 2030. This is attributed to the growing standard of living and changes in lifestyle in countries such as India, Japan, and South Korea
  • The polarized segment is likely to witness the fastest growth from 2022 to 2030. This is attributed to the high participation in outdoor sports and activities such as skiing and hiking all over the world
  • The online distribution channel segment is expected to expand at the fastest CAGR from 2022 to 2030. This is attributed to the reasonable prices and plenty of choices that it gives to the customers. Additionally, the choice of trial before buying that is offered by online retailers is another important factor expected to drive the segment over the forecast period

List of Key Players in Sunglasses Market

  • Luxottica Group
  • Safilo Group
  • Maui Jim
  • De Rigo
  • Charmant
  • Specsavers Optical
  • Revo
  • Fielmann AG
  • Pivothead
  • LVMH Group
  • MarcolinSpA

Access Press Release of Sunglasses Market @ https://www.grandviewresearch.com/press-release/global-sunglasses-market

 

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