Press release
Sunglasses Market Trends, Outlook, Demand, Insights, Overview 2024-2033
Sunglasses Market
The Business Research Company offers in-depth market insights through Sunglasses Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth 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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Market Segmentation:
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
Major Driver - The Surging Demand For Sunglasses As Stylish Accessories Fuels 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.
Competitive Landscape:
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.
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https://www.thebusinessresearchcompany.com/report/sunglasses-global-market-report
Top Trend - Strategic Collaborations In The Sunglasses Industry
Major companies operating in sunglasses are focused on collaboration and partnerships to provide reliable services to customers. A strategic partnership is a structured affiliation between two or more commercial enterprises, typically established via one or more business agreements or contracts. For instance, in October 2023, Meta Platforms Inc., a US-based social technology company, partnered with Ray-Ban, an Italy-based provider of sunglasses and eyeglasses, to develop artificial intelligence-powered sunglasses. It is the first-generation Ray-Ban Stories smart glasses, featuring integrated cameras, open-ear speakers, and voice control. It offers a more hands-free, immersive experience and aim to potentially replace smartphones for certain tasks.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Sunglasses Market Characteristics
3. Sunglasses Market Trends And Strategies
4. Sunglasses Market - Macro Economic Scenario
5. Sunglasses Market Size And Growth
…..
27. Sunglasses Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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