Sunglasses Market 2024 Analysis By Size, Share, Growth, Trends Up To 2033

"The Business Research Company recently released a comprehensive report on the Global Sunglasses Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, 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 Drivers and Trends:

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.

Polarized sunglass-cum-face shield is a key trend gaining popularity in the sunglasses market. A polarized sunglasses-cum-face shield is a type of sunglass with a full-face shield including a polarized lens. A polarized lens is a type of lens that filters out light. The polarized protective face shield is equipped with UV protection that covers the entire face from eyes to chin providing complete protection. This development attempts to set a new fashion trend after the COVID-19 pandemic. For instance, in October 2021, ZGHYBD, a Japanese company launched polarized sunglasses-cum-face shields made with polycarbonate (PC) and is equipped with UV protection. It covers the entire face from eyes to chin and comes with anti-fog, windproof, and dustproof properties.

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Major Key Players of the Market:

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.

Sunglasses Market 2024 Key Insights:

• 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 Surging Demand For Sunglasses As Stylish Accessories Fuels Market Growth
• The Emergence And Popularity Of Polarized Sunglass-Cum-Face Shield In The Sunglasses Market
• 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

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