Press release
Plano sunglasses Market from CR-39 material to grow $215 million by 2024
Prevailing economic conditions, population growth along with increasing disposable income will drive plano sunglasses industry size. Modern lifestyle with rising brand consciousness will propel the market growth. Customer loyalty towards their preferred brands, regardless of convenience or price will also enhance the industry volume.
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Increasing demand for UV absorption eyewear for vision comfort by preventing macular degeneration will support industry size. According to WHO, age-related macular degeneration has blindness prevalence over 8% and ranks third among the global causes of visual impairment. This will drive plano sunglasses industry growth.
Shifting consumer interest towards premium products will encourage the key players to launch new products. Rising demand for sports accessories globally will propel the market size. Celebrity endorsement is anticipated to be the major factor driving revenue growth. Plano sunglasses may tend to be more expensive than ordinary shades, this may hinder product demand.
Polarized sunglasses projected to surpass 174 million units by 2024. Increasing product demand owing to enhanced vision properties will propel industry size. It helps in improving clarity of vision by countering horizontal rays in daylight. Polycarbonate material for plano sunglasses is expected to witness growth over 2.5% by 2024. It is light weight and does not require any special coatings to block UV rays. Rising product demand from those who work in hazardous job environments will add to industry growth.
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Non-polarized sunglasses accounted for over 60% industry share in 2016. Factors such as low production cost, superior optical properties at competitive prices compared to other counterparts will drive the product demand.
Online store was valued over USD 4 billion in 2016. Increasing demand for online shopping due to availability of variety of products, easy accessibility, better prices, multiple payment methods will fuel product sales through this channel.
Independent brand showrooms are projected to account for over 25% industry share upto 2024. Availability of high end brands and buying advices from experts are the key factors positively influencing the product demand.North America plano sunglasses industry accounted for over 95 million units in 2016. Increased consumer awareness about harmful UV radiation driving product sales in the region.
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Europe led by Germany and UK will surpass USD 11 billion upto 2024. The demand for premium-priced and customized colored shades will drive market growth. Fast-changing fashion trends and availability of high-end brands propelled industry size. The regional e-commerce industry generated online sales of goods and services worth USD 592.93 billion in 2016. At present, 296 million online shoppers are in Europe, spending at an average of USD 1,793 online per year.
APAC dominated by India and China accounted over 20% industry share in 2016. Increasing penetration of international brands such as Luxottica, Grand vision, Essilor and OTIS will fuel the product demand. Strong influence of western lifestyle and culture will support regional growth.
Global plano sunglasses industry is consolidated in nature as key participants hold a major industry share. Luxottica Group, Marcolin Eyewear, Safilo Group, De Rigo Rem, Kenmark, Modo Eyewear, FGX International, Silhouette International and Vogue Eyewear are the major industry players.
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