Global Sports Sunglasses Market - Growth, Trends and Forecast (2020 - 2025)

Global sports sunglasses market is projected to grow at a CAGR of 3.5% during the forecast period.

Key factors driving the market studied, such as a rise in consumers’ disposable incomes, owing to which they seek branded, well-designed, and quality products, 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. Such factors are anticipated to shape the market studied in the near future.

Over the past few years, sports products have been witnessing a growing adaptation rate based on factors, such as awareness about physical fitness, experiences of adventure, and development of skills and abilities.

Key Market Trends

Increasing Participation In Sports And Healthy Lifestyle Trends

There is a rise in the number of people entering the global workforce, and a significant share among them is more likely to embrace sports and fitness as a part of recreational activities, which is again, aligned with the altering lifestyle preferences. Endurance sports have also paved a strong ground for enthusiasts to grab the varieties in sports accessories, thereby, positively driving the sports sunglasses sales worldwide. The rate of participation in outdoor activities, such as the United Kingdom’s first open water 10K event, Heliskiing across Canada, Tour de France, and Ironman 70.3 Pays d’Aix, have scaled over the past few years. Along with it, brands, such as Persol, Mr. Leight, Prada Linea Rossa, and Cartier, are facilitating consumers with latest designs in the sports sunglasses market, specifically targeting the skiing and winter sports enthusiasts.

North America Dominates the Global Market

Sports enthusiasts and professionals for golf, running, cycling, tennis, water sports, snow sports, cricket, etc., need sunglasses that protect their eyes. Hence, the demand for sports sunglasses is high in the North American region. EssilorLuxottica is a major player of the US sports sunglasses market, with brands, like Oakley that provides a wide range of products with superior quality. Sportspersons prefer wearing sunglasses, as it controls sunlight. The demand for safety is enhancing the demand for sports sunglasses. The companies manufacturing sports sunglasses in the United States are increasing their brand visibility, by hiring popular sportspersons to endorse their brands.

Competitive Landscape

Global sports sunglasses market is a highly fragmented market and comprises of regional and international competitors. The market is dominated by players EssilorLuxottica, Nike Inc., Bugaboss Eyewear Corporation, Liberty Sport Inc., Safilo Group SpA, and Under Armour Inc. The leading players in the sports sunglasses market enjoy a dominant presence worldwide. These players focus to leverage opportunities posed by emerging markets to expand their product portfolio, thus they can cater to the requirements for various sports, especially for aerial and snowboarding sports. Companies compete on different factors, including product offerings, material, design, price, functionality, and marketing activities, in order to gain the competitive advantage in the market.

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