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Sunglasses Market - Growth, Trends and Forecasts (2020 - 2025)

  • ID: 4622340
  • Report
  • April 2020
  • Region: Global
  • 110 Pages
  • Mordor Intelligence
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FEATURED COMPANIES

  • Adidas AG
  • De Rigo Vision S.p.A.
  • EssilorLuxottica Group
  • Fielmann AG
  • Marchon Eyewear Inc.
  • Marcolin SpA.
  • MORE
The global sunglasses market is projected to grow at a CAGR of 4.42% during the forecast period.

The growth rate of sunglasses is driven by the increased consumer awareness and demand for protection against ultraviolet radiation and glare, as well as the growing popularity of sunglasses as a fashion item. The aforementioned factors are, thus, increasing the market share for sunglasses.

Seasonal variations have also propelled the engagement of consumers in outdoor activities, thus, there is a strong demand for sports sunglasses in both summer and winter, with respect to involvement in sports, tourism, and recreational activities. This is expected to impose strong growth in the market studied, over the forecast period.

The growing demand for sports sunglasses is due to factors, such as the rise in consumers’ disposable incomes, owing to which they seek branded, well-designed, and quality products and the consumers preference toward replacing sports sunglasses, along with the increase in preference toward maintaining a luxury living that also speaks about “societal status”, by retaining high-end commodities.

Key Market Trends

Polarized Sunglasses Segment Leading the Market

Polarized sunglasses are used for glare and brightness reduction and to block the unwanted horizontally polarized light. The protection from damaging UVA and UVB is helpful for anyone who spends a lot of time around water and snow. Thus, polarized sunglasses are increasingly demanded by consumers engaged in outdoor activities, such as sports.

In order to cater to the growing demand for polarized sunglasses, the global players are trying to expand their presence, as well as product portfolio in these sunglasses. In May 2019, Xiaomi Launched a range of Xiaomi Mi Polarized Sunglasses on its online platform, which provides six layered-lens technology for the elimination of glare, polarized light, and harmful UV rays. Similarly, Luxottica Group SpA offers a range of Ray-Ban polarized sunglasses for men and women, which are claimed to eliminate glares, increase visual clarity, reduce eye strain, and enhance contrast.

North America is the Leading Regional Market

Major brands for sunglasses and online eyewear stores are aggressively implementing their online marketing and promotional activities as online marketing and promotion does not only provide customers with easy access but also helps vendors reduce operational costs. This is due to high existing market penetration of global brands in the developed regions such as North America and Europe. However, emerging countries record a prominent market for local brands due to much lower product pricing compared to global brands Prada, Guccio Gucci S.p.A. This has led mid-range brands such as Fastrack to account for a prominent share. Increasing awareness of sunglasses and an increase in affordability of the Asia-Pacific population is one of the key factors driving the sunglasses market.

Competitive Landscape

The sunglasses market is a consolidate market and comprises of regional and international competitors. The market is dominated by key players such as Essilor-Luxottica Group, Safilo Group SpA, Fielmann AG, Adidas AG, and De Rigo Vision SpA. These players focus to leverage opportunities posed by emerging markets to expand their product portfolio, thus they can cater to the requirements.

Reasons to Purchase this report:
  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support
Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Adidas AG
  • De Rigo Vision S.p.A.
  • EssilorLuxottica Group
  • Fielmann AG
  • Marchon Eyewear Inc.
  • Marcolin SpA.
  • MORE
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porters Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Buyers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitutes
4.3.5 Competitive Rivalry

5 MARKET SEGMENTATION
5.1 Product Type
5.1.1 Polarized
5.1.2 Non-polarized
5.2 End User
5.2.1 Men
5.2.2 Women
5.2.3 Unisex
5.3 By Distribution Channel
5.3.1 Offline retail stores
5.3.2 Online retail stores
5.4 Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Mexico
5.4.1.4 Rest of North America
5.4.2 Europe
5.4.2.1 Germany
5.4.2.2 United Kingdom
5.4.2.3 France
5.4.2.4 Spain
5.4.2.5 Italy
5.4.2.6 Russia
5.4.2.7 Rest of Europe
5.4.3 Asia Pacific
5.4.3.1 China
5.4.3.2 Japan
5.4.3.3 India
5.4.3.4 Australia
5.4.3.5 Rest of Asia-Pacific
5.4.4 South America
5.4.4.1 Brazil
5.4.4.2 Argentina
5.4.4.3 Rest of South America
5.4.5 Middle East and Africa
5.4.5.1 South Africa
5.4.5.2 Saudi Arabia
5.4.5.3 Rest of Middle East and Africa

6 COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 EssilorLuxottica Group
6.3.2 Safilo Group S.p.A.
6.3.3 Fielmann AG
6.3.4 Adidas AG
6.3.5 De Rigo Vision S.p.A.
6.3.6 LVMH Moët Hennessy (Louis Vuitton)
6.3.7 Marcolin SpA.
6.3.8 Fosun International Company Ltd.
6.3.9 Revo Holdings, LLC
6.3.10 Maui Jim Inc.
6.3.11 Marchon Eyewear Inc.

7 MARKET OPPORTUNITIES AND FUTURE TRENDS
Note: Product cover images may vary from those shown
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  • EssilorLuxottica Group
  • Safilo Group S.p.A.
  • Fielmann AG
  • Adidas AG
  • De Rigo Vision S.p.A.
  • LVMH Moët Hennessy (Louis Vuitton)
  • Marcolin SpA.
  • Fosun International Company Ltd.
  • Revo Holdings, LLC
  • Maui Jim Inc.
  • Marchon Eyewear Inc.
Note: Product cover images may vary from those shown
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