Report Ocean has recently published the “Sunglasses Market“ Research Report 2023-2031, offering a comprehensive analysis of the market. This report delves deep into the market dynamics, including key trends, upcoming technologies, drivers, challenges, and regulatory policies. It also features company profiles and strategies of prominent players in the industry. With over 100+ market data tables, pie charts, graphs, and figures, this global market study provides a thorough understanding of the market landscape. It presents a complete assessment, encompassing future trends, current growth factors, informed opinions, factual insights, and industry-validated market data, enabling accurate forecasts until 2031.
The global sunglasses market size was valued at $16,851 million in 2019, and is estimated to reach $18,164 million by 2027, registering a CAGR of 4.2% from 2021 to 2027. Growth in demand for fashionable accessories and functional products that offers the health benefits among the youth is a significant factor propelling the growth of the global sunglasses market. The sunglasses are not only perceived as a fashion accessory but it also protects the eyes from the harmful UV rays of the sun. Exposure to the sun for a long time may cause cataracts and other eye-related diseases. The sunglasses offer comfort to eyes and protection from the glare of the sun.
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Increase in consumer awareness regarding vision care and rise in disposable income are the driving factors that are expected to fuel the growth of the global sunglasses market during the forecast period. The popularity of the sunglasses is perpetually growing across the world due to its benefits. The sunglasses mainly serve the mid and the high-income group of consumers globally. The population factor of the mid and the high-income group is also a notable factor driving the global sunglasses market.
The sunglasses market is expected to be highly influenced by the digital platforms in the forthcoming years. Till now the online distribution channels were growing leisurely but as per the study, the online sales channel is likely to witness a rapid growth during the forecast period. The key players are investing significant amount of money in digitizing their sales channel. Technological advancements like 3D try-on developed by various market players on their website are trying to provide the customer best user experience while sitting at home. Platforms like Facebook, YouTube, Instagram, Pinterest, etc. will play a significant role in influencing the consumer behavior regarding purchases of the sunglasses.
However, lack of proper facilities related to digitization, low purchasing capacity of the consumers, and less awareness regarding the vision care among the population in the underdeveloped and developing nations may hinder the further growth of the sunglasses market.
According to the market analysis, the sunglasses market is segmented into type, design, frame material, distribution channel, and region. On the basis of type, the market is categorized into polarized and non-polarized. By design, it is segregated into aviator/pilot, rectangle, square, oval, cat eye, and others. On the basis of frame design, it is segmented into acetate, metal, injected, and others. Based on distribution channel, it is segmented into supermarkets/hypermarkets, specialty stores, convenience stores, and online sales channel. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Italy, Germany, Netherlands, Switzerland, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and the rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
North America dominated the sunglasses market in 2019, and is expected to sustain its dominance throughout the forecast period. North America is followed by Europe in terms of market share. The fastest growing region is projected to be Asia-Pacific followed by LAMEA.
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KEY BENEFITS FOR STAKEHOLDERS
– The report provides a quantitative analysis of the current market trends, estimations, and dynamics of the market size from 2019 to 2027 to identify the prevailing opportunities.
– Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
– In-depth analysis and the market size and segmentation assist to determine the prevailing sunglasses market opportunities.
– The major countries in each region are mapped according to their revenue contribution to the market.
– The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the sunglasses industry.
The key players operating in the global sunglasses market have adopted various developmental strategies to expand their market share and increase profitability in the market.The key players profiled in thisreport include EssilorLuxottica SA, Safilo Group SpA, Fielmann AG, Marcolin Eyewear, De Rigo Vision Spa, Stylrite Optical Industries, Eyevan Inc., Loch, Randolph, and Eugenia Eyewear.
KEY MARKET SEGMENTS
– By Type
o Polarized
o Non-Polarized
– By Design
o Aviator/Pilot
o Rectangle
o Round
o Square
o Oval
o Cat Eye
o Others
– By Frame Material
o Acetate
o Metal
o Injected
o Others
– By Distribution channel
o Supermarkets/Hypermarkets
o Specialty Stores
o Convenience Stores
o Online sales channel
– By Region
o North America
? U.S.
? Canada
? Mexico
o Europe
? UK
? France
? Italy
? Germany
? Netherlands
? Switzerland
? Rest of Europe
o Asia-Pacific
? China
? Japan
? India
? South Korea
? Australia
? Rest of Asia-Pacific
o LAMEA
? Latin America
? Middle East
? Africa
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Table of Contents:
- Introduction and Scope
- Definition and Forecast Parameters
- Methodology and Forecast Parameters
- Information Sources
- Latest Trends Summary
- Regional Trends
- Product Trends
- End-Use Trends
- Business Trends
- Industry Insights
- Industry Fragmentation
- Industry Landscape
- Vendor Matrix
- Technological and Innovative Landscape
- Market by Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
- Company Profiles
- Company Overview
- Financial Elements
- Product Landscape
- SWOT Analysis
- Systematic Outlook
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Key Questions Market Research and Analysis Report
- What is the current market size, both in terms of value and volume?
- What is the historical growth rate of the market, and what are the projected growth rates for the future?
- Who are the major players in the market, and what is their market share?
- What are the market trends and dynamics influencing the industry?
- What are the key drivers of market growth?
- What are the challenges and barriers faced by market participants?
- What are the emerging opportunities in the market?
- What is the competitive landscape of the market?
- What are the consumer preferences, behaviors, and buying patterns within the market?
- What is the market segmentation, and how are different market segments performing?
- What are the pricing trends and strategies in the market?
- What are the distribution channels and their effectiveness in reaching the target audience?
- What are the regulatory and legal factors impacting the market?
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