Sunglasses Market 2018 - Key Players, Industry Scenario, Strategies, Growth Factors, Industry Status
Posted: Dec 06, 2018
The Global Sunglasses market is estimated to grow at a CAGR of 9.4% from 2018 to 2026 according to a new report published by Polaris Market Research. The new report ‘Sunglasses Market [By Lens Type (Polarized, Non-Polarized) By Material (CR-39, Polycarbonate, Polyurethane, Others) By Distribution Channel (Offline Stores, Online Channels), By Regions]: Market Size & Forecast, 2018 – 2026’ indicates that the global Sunglasses market generated US$ 17,951 million in 2018.
Sunglasses are used for protection of eyes against dust and harmful UV rays. Consumers also wear sunglasses to enhance appearance and follow fashion trends. The most important benefit of wearing sunglasses is protection of eyes from UV light. UV light has harmful effects on the eyelid, cornea, lens and retina. Sunglasses also help protect delicate skin around the eyes from aging.
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The increasing awareness regarding eye care, and growing health consciousness among consumers has increased the demand for sunglasses. The increasing disposable income along with rising living standards has accelerated the Sunglasses market growth across the globe. Increasing urbanization, growing population in developed countries, and an emerging middle class in developing economies further boosts the Sunglasses market growth. Increasing adoption of fashion trends coupled with technological advancements and growth of e-commerce is expected to provide numerous growth opportunities for the Sunglasses industry.
The vendors in the sunglasses market are launching new products to meet the growing customer needs. In addition, the leaders in the market are acquiring and collaborating with top companies in the market to enhance their offerings in the market and expand their customer base. For instance, in Jan 2017, Life is Good collaborated with the McGee Group to enter the eyewear market through launch of readers, sunglasses, and optical frames. The new range of products includes "Focus on the Good" Ophthalmic Glasses for Women, Men, and Kids, "Go Places" Sunglasses, which are available in designs such as wayfarer, aviator, and classic rectangular styles.
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The report provides an extensive qualitative and quantitative analysis of the market trends and growth prospects of the Global Sunglasses Market, 2018-2026. This Sunglasses market report comprises a detailed geographic distribution of the market across North America, Europe, Asia-Pacific, Latin America, and MEA. North America is further segmented into U.S., Canada, and Mexico. Europe is divided into Germany, UK, Italy, France, and Rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, and Rest of Asia-Pacific.
North America generated the highest revenue in 2018 owing to increasing population and high living standards. Increasing awareness regarding eye care encourages consumers to take preventive measures, thereby supporting the sunglasses market growth in the region.
Competitive Landscape and Key Vendors
The global Sunglasses market is characterized by the presence of well-diversified international and small and medium-sized vendors. Leading companies are acquiring other companies, and enhancing their product offerings to improve their Sunglasses market share. Acquisitions enable key players to increase their market potential in terms of geographic expansion and expansion of customer base.
The leading companies profiled in the sunglasses market report include Luxottica Group S.p.A, Prada S.p.A, Safilo Group S.p.A, Fielmann AG, De Rigo Vision, Alexander McQueen, Michael Kors, LVMH Moët Hennessy Louis Vuitton SE, Marcolin Eyewear, and Maui Jim.
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- Offline Stores
- Online Channels
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
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Polaris Market Research
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises.