Sunglasses Market Growth & Trends
The global sunglasses market size was estimated to reach USD 36.44 billion in 2030 and is expected to grow at a CAGR of 5.6% from 2024 to 2030, according to a new report by Grand View Research, Inc. The global market has been growing consistently over years, with consumers increasingly recognizing the importance of eye protection from harmful UV rays and the style statement that sunglasses can make. This trend is expected to continue, especially as awareness about eye health rises, making it a lucrative sector to invest in.
In addition to the growing demand for sunglasses, the market is highly diverse, offering ample room for niche products and branding. Different styles, materials, and technologies cater to wide ranging consumer preferences. From high-end designer sunglasses to affordable, functional options, there is a segment for every budget. Players can focus on specific niches, such as eco-friendly materials, customizable frames, or advanced UV protection, to carve out their unique space in the market.
Furthermore, the fashion industry influence on sunglasses cannot be underestimated. Sunglasses have become an essential accessory in the fashion world, making them a staple for people of all ages. This opens the door for innovative designs, collaborations with fashion brands, and the potential to ride the waves of seasonal trends.
Sunglasses brands are partnering with fashion houses to create exclusive collections. Collaborations between sunglasses brands and fashion houses generate buzz and attract attention from consumers. These partnerships often result in sought after limited-edition collections, leading to increased brand visibility for both the sunglasses brand and the fashion house. For example, in October 2023, Dior collaborated with Fendi on a line of sunglasses. These collaborations allow sunglasses brands to tap into the fashion industry’s expertise and creativity, introducing unique and stylish products.
The rise of e-commerce has had a considerable impact on the market, making these products accessible to a global audience. Online retail platforms enable smaller players to compete with established brands. Digital marketing and social media play a pivotal role in reaching and engaging customers, creating opportunities for businesses to showcase their products, and building brand awareness.
Online retailers offer a wider variety of brands and styles than traditional brick-and-mortar stores, and consumers can shop for eyewear online whenever and wherever they want. Online reviews can help consumers feel confident about their purchases, and online retailers often have lower prices than traditional brick-and-mortar stores.
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Sunglasses Market Report Highlights
- Based on product, non-polarized sunglasses held a share of 78.3% of the global market in 2023. Non-polarized sunglasses have been gaining traction for several reasons, driven by changing consumer preferences and evolving fashion trends
- Based on material, polycarbonate-based sunglassess held a share of 45.3% of the global market in 2023. Polycarbonate is a highly favored material for making sunglaIn terms of distribution channel, sunglasses sales through offline channels held 78.6% share in 2023. Offline channels, encompassing hypermarkets, supermarkets, and specialty stores, are pivotal in offering consumers a diverse range of branded sunglasses. The continued growth and enhancement of the retail sector have become a driving force behind the increased sunglasses sales
- Europe held a sizable share of over 31.1% of the global sunglasses industry in 2023. The popularity of sunglasses in Europe can be attributed to its rich fashion culture, where customers often view sunglasses as a style statement and follow trends set by fashion houses and celebrities
Sunglasses Market Segmentation
Grand View Research has segmented the global sunglasses market based on product, material, distribution channel, and region:
Sunglasses Product Outlook (Revenue, USD Million, 2018 – 2030)
- Polarized
- Non-Polarized
Sunglasses Material Outlook (Revenue, USD Million, 2018 – 2030)
- CR-39
- Polycarbonate
- Polyurethane
- Others
Sunglasses Distribution Channel Outlook (Revenue, USD Million, 2018 – 2030)
- Offline
- Online
Sunglasses Regional Outlook (Revenue, USD Million, 2018 – 2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- Central & South America
- Brazil
- Middle East & Africa
- UAE
List of Key Players in the Sunglasses Market
- Luxottica Group
- Safilo Group S.p.A.
- Kering Eyewear S.p.A.
- De Rigo S.p.A.
- CHARMANT Group
- Revo
- Fielmann Group
- STATE Optical Co.
- LVMH
- Marcolin S.p.A.
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