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Market Synopsis:
Apart from the boosted of fashionable accessories, the growth of industries such as travel & tourism is anticipated to contribute to the expansion of the sunglasses market. According to the study conducted by Market Research Future (MRFR), the sunglasses market is projected to exhibit a moderate CAGR over the assessment period 2017 to 2022. The rising demand for glacier sunglasses on account of increasing mountain expeditions all over the world is expected to encourage the growth pattern of the market. In addition, the rising exploration of conventional as well as off-beat destinations is also anticipated to propel the expansion of the sunglasses market in the upcoming years.
The increasing patient population of eyesight disorder is anticipated to support the expansion of the sunglasses market over the next couple of years. The growing demand for powered sunglasses is projected to have a positive influence on the proliferation of the market in the nearby future. In addition, the rising influence of the fashion industry in daily lifestyle coupled with rapid urbanization is projected to expedite the sales in the market.
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The growth of the retail market is another major factor anticipated to motivate the growth pattern of the sunglasses market over the assessment period. Also, the increasing penetration of e-commerce sector is likely to have a positive influence on the growth pace of the market across the projection period.
Competitive Dashboard:
The major players operating in the global sunglasses market are Luxottica (Italy), Safilo (Padua), DE RIGO SPA (Italy), Marcolin (Italy), Carl Zeiss AG (Germany), Gazer eyewear (Greece), Prime Optics Ltd (U.K.), Xiamen ASA Sunglasses Co., Ltd (China), Kyboe (Netherland), and Vuerich B (Spain).
The market is expected to witness an influx of new entrants as well as product portfolio developments which are poised to have a favorable impact on expansion. Case to the point is, industry-leading streetwear brand, Electric Family, has announced the launch of its new line of sunglasses.
Industry News:
In June 2019, Ray-Ban, the global leader in the premium eyewear market, has reintroduced its Mickey Mouse sunglasses on popular demand. For now, the sunglasses will be available at select Disney Parks retail locations.
In February 2019, Mulberry, a designer accessories label, has announced that it is venturing into the sunglasses industry with the launch of its debut sunglasses collection.
In May 2019, Xiaomi, a Chinese electronics company, has announced the availability of MI sunglasses in India.
Market Segmentation:
By Type, the global sunglasses market has been segmented into aviator, browline, oversized, shutter shades, teashades, wayfarer, wrap-around, and others.
By Sunglass Polarization, the sunglasses market has been segmented into polarized, non-polarized, mirrored, and others.
By Consumer Group, the global sunglasses market has been segmented into women, men, children.
By Frame Material, the sunglasses market has been segmented into pc, wooden, acetate, alloy, and others.
By Lens Material, the global sunglasses market has been segmented into acrylic, resin, glass, and others.
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Regional Analysis:
The sunglasses market, on the basis of region, has been segmented into North Americas, Asia Pacific, Europe, and the Rest of the World (RoW). North America signifies substantial developmental opportunities and is anticipated to exhibit moderate growth over the forecast period. Rapid urbanization and strong economic development of the region is poised to support the expansion of the market in the region. Also, the major brand labels are based out of the region. It is anticipated to aid the proliferation of the regional sunglasses market. Europe is expected to have considerable growth in the upcoming years. The influence of the fashion industry is anticipated to drive the expansion of the sunglasses market in the region over the next couple of years.
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Release ID: 526768