Global Sunglasses Market – Industry Trends and Forecast to 2029

Global Sunglasses Market, By Type (Polarized and Non-polarized), Design (Aviator/Pilot, Rectangle, Round, Square, Oval, Cat Eye, and Others), Frame Material (Acetate, Metal, Injected, and Others) and Distribution Channel (Supermarkets/Hypermarkets, Specialty Stores, Convenience Stores, and Online Sales Channel) – Industry Trends and Forecast to 2029

Market Analysis and Size

Encouraged by rising product demand, eyewear manufacturers concentrate on creating appealing and affordable eyewear. They are constantly introducing new designs and patterns in order to respond quickly to current fashion trends and attract fashion enthusiasts. The ongoing efforts of the market's leading players to acquire new customers and retain existing ones positively influence eyewear market statistics.

Data Bridge Market Research analyses that the sunglasses market was valued at USD 157.9 billion in 2021 and is expected to reach the value of USD 569.03 billion by 2029, at a CAGR of 17.38% during the forecast period. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, patent analysis and consumer behaviour.

Report Scope and Market Segmentation

Market Definition

Sunglasses are eyewear glasses that shield the eyes from the sun's harmful rays. They are mostly tinted to protect from the sun's rays. The sunglasses are either non-polarized or polarised, and can be customised to the buyer's specifications. Sunglasses can be polarised or non-polarized, and they can be customised to the customer's specifications. Sunglasses can also be used as spectacles by using either convex or concave lenses, depending on the person's eye power.

Drivers

• Consumer preferences for fashionable, trendy fashion segments to cater their overall personality

The market studied caters primarily to the fashion segment, with consumer preferences in choosing a sunglass encompassing fashion, enhancing facial aesthetics, brand value, and effective social media marketing/affluence. Traditional eyewear collections are becoming increasingly intertwined with ready-to-wear eyewear, which includes colour, shape, and embellishment expression. Celebrities and fashion leaders are generally brand savvy and prefer eye-catching sunglasses that draw people's attention.

• Growing product visibility through retail and digital marketing

Increased distribution drives market growth through e-commerce websites and the spread of social media. The eyewear industry heavily advertises on popular social media platforms such as Instagram, Twitter, and Facebook, allowing them to analyse audience preferences and offer specially curated products. These platforms assist businesses in incorporating innovative marketing strategies such as influencer and affiliate marketing to increase profitability.

Opportunity

Major drivers of the global sunglass market include advanced and improved products and services that meet specific client needs. This is driving market growth because buyers are currently looking for personalised products that meet specific needs. Furthermore, manufacturers' innovative breakthroughs have enabled them to present sunglasses with added utility, which is another significant driver for the sunglass market. The creative element in sunglasses is positively impacting the market.

Restraints

However, the emergence of independent retailers and manufacturers has resulted in a plethora of product sets for consumers to shop via roadside stalls, kiosks, and online platforms, which are currently promoting a cutthroat competition for major players operating in the market under consideration. Counterfeit sunglasses also negatively impact the sales and pricing strategies of major players' offerings. Furthermore, the dilution of original brands occurs as a result of consumers mistaking counterfeit goods for the genuine article. The introduction of counterfeit sunglasses into the global marketplace has become a major threat to the global economy.

This sunglasses market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the Sunglasses market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Sunglasses Market

The covid 19 was an unexpected event that wreaked havoc on global markets. The majority of markets are impacted by global restrictions imposed as a result of the pandemic. The global restrictions have also had an impact on the overall sunglasses market. Sunglasses are also unnecessary during the pandemic. During this period, consumer spending is directed toward necessities. The sunglasses are also available in fashion stores and online. However, both online and physical fashion stores are closed on the 19th. It has slowed the market's overall growth during the forecast period. However, the manufacturing process will resume after covid 19. Furthermore, the market will experience exceptional demand in the coming months.

Recent Development

• In September 2021, Facebook announced the long-awaited launch of the Ray-Ban Stories smart glasses in collaboration with eyewear giant EssilorLuxottica.
• Safilo announced the launch of us.carreraworld.com, a new US e-commerce platform in the United States for its core sunglass brand Carrera, in August 2021.
• Luxottica Group unveiled new travel retail exclusive sunglasses styles from Ray-Ban and Oakley in July 2021. The collection includes two frames designed specifically for Asia-Pacific markets, as Luxottica continues to shift its strategic focus to the region.

Global Sunglasses Market Scope

The sunglasses market is segmented on the basis of type, design, frame material and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type  

• Polarized
• Non-polarized  

Design

• Aviator/Pilot
• Rectangle
• Round
• Square
• Oval
• Cat Eye
• Others

Frame material

• Acetate
• Metal
• Injected
• Others

Distribution channel

• Supermarkets/Hypermarkets
• Specialty Stores
• Convenience Stores
• Online Sales Channel

Sunglasses Market Regional Analysis/Insights

The sunglasses market is analysed and market size insights and trends are provided by country, type, design, frame material and distribution channel as referenced above.

The countries covered in the sunglasses market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the sunglasses market due to knowledge about the side effects of UV radiation on eyes, and the use of sunglasses as part of fashion trends is expected to propel the sunglasses market's growth. Due to its large population and growing acceptance of fashion products, Asia-Pacific is expected to see significant growth in the sunglasses market. Furthermore, rising per capita disposable incomes and the expansion of the organised retail sector are expected to drive the sunglasses market forward.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Sunglasses Market Share Analysis

The sunglasses market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to sunglasses market.

Some of the major players operating in the sunglasses market are

• De Rigo (Italy)
• Essilor (France)
• Fielmann (Germany)
• JEANNE LANVIN SA (France)
• LVMH (France)
• Marchon Eyewear, Inc. (U.S.)
• Marcolin SpA. (Italy)
• Maui Jim, Inc. (Hawaii)
• Safilo Group S.p.A. (Italy)
• Alexander McQueen Trading Limited (UK)
• Michael Kors (U.S.)
• Pivothead (U.S.)
• Specsavers (France)
• Titan Company limited (India)
• CHARMANT USA, Inc. (U.S.)
• De Rigo Vision S.p.A. (Italy)
• XIAMEN ASA SUNGLASSES CO., LTD. (China)