Sunglasses Market Size, Share by Top Brands, Sales Analysis, Growth 2023-2028

The global sunglasses market size reached US$ 36.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 49.3 Billion by 2028, exhibiting a growth rate (CAGR) of 5% during 2023-2028.

The increasing usage of sunglasses for outdoor activities to prevent exposure to ultraviolet (UV) rays represents one of the major factors strengthening the market growth around the world. Expanding purchasing power and the rising preference for premium-quality sunglasses are also fueling the market growth.

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Factors Affecting the Growth of the Sunglasses Industry:

• Awareness about the Detrimental Impact of UV rays:

The growing awareness among the masses about the importance of ultraviolet (UV) protection for eye health represents one of the primary factors contributing to the market growth. Additionally, the escalating demand for quality sunglasses that offer effective UV protection is offering a favorable market outlook. UV rays from the sun can cause various eye problems, including cataracts, macular degeneration, and photokeratitis. Along with this, the increasing availability of sunglasses that provide optimal UV protection is attracting a wider consumer base. Moreover, the healthcare sector and eye care professionals are increasingly investing in educating the public about the necessity of UV protection for maintaining good eye health.

• Escalating Demand for Sports-specific Sunglasses:

The rise in sports participation is catalyzing the demand for specialized sunglasses tailored to these pursuits. Sports-specific sunglasses offer numerous features, such as polarized lenses, anti-fog coatings, and lightweight, durable frames to cater to the specific needs of athletes and outdoor enthusiasts. These specialized sunglasses not only enhance performance but also provide essential eye protection from the harmful rays of the sun. Additionally, the increasing participation of individuals in hiking, cycling, skiing, or water sports is driving the demand for sunglasses that provide eye protection, glare reduction, and improved visual clarity.

• Rise in Travel and Tourism and Destination Weddings:

The expanding global travel and tourism industry is another major factor driving the demand for sunglasses. Additionally, the duty-free shopping opportunities at airports and travel retail outlets are accelerating the purchasing of sunglasses. Many duty-free shops provide exclusive discounts and promotions on sunglasses, making them an attractive option for travelers looking to make a cost-effective purchase. Furthermore, the rise of destination weddings and outdoor events is encouraging individuals to seek sunglasses that protect their eyes and complement their attire for special occasions. This trend is creating a niche market for wedding and event-themed sunglasses, driving diversification within the industry.

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Sunglasses Market Report Segmentation:

By Type:

• Non-polarized
• Polarized

Non-polarized represented the largest segment due to the rising preferences of individuals for sunglasses that offer consistent light filtration without polarization effects.

By Design:

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

Round dominates the market, reflecting a fashion trend favoring the classic and timeless appeal of round-shaped sunglasses.

By Frame Material:

• Injected
• Acetate
• Metal
• Others
Injected holds the largest market share due to its durability, lightweight nature, and suitability for a wide range of styles.

By Lens Material:

• Polycarbonate
• CR-39
• Polyurethane
• Others

Polycarbonate accounts for the largest market share due to its superior impact resistance, lightweight properties, and affordability.

By Distribution Channel:

• Offline
• Online

Offline dominates the market because many consumers prefer to try on sunglasses in person to ensure a proper fit and style, which brick-and-mortar stores provide.

By End User:

• Men
• Women
• Unisex

On the basis of end user, the market has been classified into men, women, and unisex.

Regional Insights:

• North America
o United States
o Canada
• Asia-Pacific
o China
o Japan
o India
o South Korea
o Australia
o Indonesia
o Others
• Europe
o Germany
o France
o United Kingdom
o Italy
o Spain
o Russia
o Others
• Latin America
o Brazil
o Mexico
o Others
• Middle East and Africa

Europe's dominance in the sunglasses market is attributed to high income level of individuals and the changing climatic conditions in the region.

Global Sunglasses Market Trends:

The growing global consciousness regarding environmental issues and sustainability is influencing the market positively. Eyewear manufacturers are increasingly utilizing eco-friendly materials such as recycled plastics, wood, bamboo, and bio-based plastics to create sunglasses. These materials have a lower environmental impact compared to traditional plastics and contribute to reducing waste. Brands are adopting sustainable packaging practices, using recycled and minimal packaging materials. This reduces the use of plastics and lowers overall packaging waste. Along with this, some companies are implementing recycling programs, allowing customers to return old or damaged sunglasses for recycling or repurposing. This encourages responsible disposal and minimizes the environmental footprint of eyewear.

Leading Companies Operating in the Global Sunglasses Industry:

• De Rigo Vision S.p.A.
• EssilorLuxottica SA
• Eugenia Eyewear Company Ltd.
• Fielmann AG
• LVMH Moët Hennessy Louis Vuitton
• Marchon Eyewear Inc. (Vision Service Plan)
• Marcolin SpA
• Maui Jim Inc.
• Randolph Engineering, Inc.
• Safilo Group S.p.A.
• Specsavers Optical Group Ltd.
• Titan Company Limited.

Other Key Points Covered in the Report:

• COVID-19 Impact
• Porters Five Forces Analysis
• Value Chain Analysis
• Strategic Recommendations

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This release was published on openPR.