Sunglasses Market Expected to Reach $ 18,164 Million by 2027, at a CAGR of 4.2% from 2021 to 2027


Sunglasses market

Sunglasses Market by Type, Design, Frame Material and Distribution Channel: Global Opportunity Analysis and Industry Forecast 2021-2027

The outbreak of the COVID-19 pandemic has indicated the importance and necessity of digitalization for market players in order to survive in the sunglasses market. “

– Aniket Kadam

PORTLAND, OREGON, UNITED STATES, August 12, 2021 / – According to a new report released by Allied Market Research titled “Sunglasses Market by Type, Design, Frame Material and Distribution Channel: Analysis of Industry Opportunities and Forecast, 2021-2027,” the Global sunglasses market size is expected to reach $ 18,164 million by 2027 at a CAGR of 4.2% from 2021 to 2027.

Sunglasses are seen as a luxury fashion accessory. These are special lenses or protective glasses designed to protect the eyes from the glare of the sun and high-energy visible light. Sunglasses sometimes work as a visual aid. Over the past decade, the share of sunglasses has grown rapidly in the fashion accessories industry. Sunglasses meet consumers’ needs for fashion and functionality. As a popular fashion accessory, sunglasses are in great demand among the world’s youth population. The demand of active youth, travel enthusiasts and sportsmen is particularly high and it is a determining factor for the global sunglasses market.

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On the basis of type, the non-polarized segment was the largest contributor to the market, with $ 11,306.2 million in 2019, and is expected to maintain its importance over the forecast period. Non-polarized sunglasses consist of glass or plastic lenses and a frame holding the lenses. Non-polarized sunglasses reduce the overall intensity of sunlight. A wide variety of non-polarized sunglasses are available depending on the lens color, design, materials used in the frames, and on-demand eyewear customization. It is a popular choice among consumers around the world due to its wide range of varieties and easy availability on offline and online channels.

Based on design, the round segment was the largest contributor to the market, with $ 3,282.7 million in 2019, and is expected to grow to $ 3,436.8 million by 2027, with a CAGR of 3 , 8% over the forecast period. The round and aviator segments collectively accounted for approximately 36.5% market share in 2019. The cat eye and oval segments are expected to experience a significant growth rate during the forecast period.

Based on frame material, the injected frames segment was valued at $ 6,338.9 million in 2019 and is expected to grow to $ 6,619.9 million by 2027, with a CAGR of 3.8%. The injected reinforcement material is less expensive and it takes less time to manufacture. It is made by injecting the petroleum-based plastic liquid into a metal mold. It is popular because of its lightness and comfort, and the injected frames can be produced with a wide range of colors.

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Covid-19 scenario:

â—‹ Manufacturing operations and the disruption network have been disrupted due to the lockdown imposed by many governments around the world. In addition, the shortage of raw materials has occurred. The bank on import-export activities impacted the market.
â—‹ Major brand stores, supermarkets and hypermarkets and other sales channels were closed during the lockdown. This has resulted in huge losses for suppliers and manufacturers as the demand has drastically decreased. However, demand is expected to increase steadily during the post-containment period.

Regionally, North America dominated the sunglasses market in 2019 and is expected to maintain its dominance throughout the forecast period. The key factors for the growth of the sunglasses market in the region are the high purchasing ability of the majority of the population, the high demand for luxury and premium products, and the consumer awareness of eye care. .

Players operating in the global sunglasses market have adopted various development strategies to expand their market share and increase profitability in the market. The main players are EssilorLuxottica SA, Safilo Group SpA, Fielmann AG, Marcolin Eyewear, De Rigo Vision Spa, Stylrite Optical Industries, Eyevan Inc., Loch, Randolph and Eugenia Eyewear. The major players are investing in technological advancements such as the 3D fitting developed by various market players on their website and trying to provide the best user experience possible for the customer sitting at home.

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Main conclusions of the study

â—‹ The sunglasses market was valued at $ 16,851 million in 2019 and is expected to reach $ 18,164 million by 2027, with a CAGR of 4.2% during the forecast period.
â—‹ By type, the polarized segment is expected to experience the fastest growing, registering a CAGR of 4.4% during the forecast period.
â—‹ In 2019, depending on the frame material, the injected segment was valued at $ 6,338.9 million, accounting for 37.6% of the global sunglasses market share.
â—‹ In 2019, the United States was the largest market in North America and is expected to reach $ 3,926 million by 2027, with a CAGR of 1.4% during the forecast period.

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About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business consulting division of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global businesses as well as medium and small businesses with unmatched quality of “market research reports” and “business intelligence solutions”. AMR has a focused vision to provide business information and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market area.

We have professional relationships with various companies, which helps us extract market data which helps us generate accurate research data tables and confirm the highest accuracy in our market forecast. Each of the data presented in the reports we publish is taken from primary interviews with senior officials of the main companies in the field concerned. Our secondary data sourcing methodology includes in-depth online and offline research and discussions with industry-savvy professionals and analysts.

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