New York
City, 29 January 2019: The global Sunglasses Market is anticipated to
reach $36,459 million by 2026 according to a new research published by Polaris
Market Research. In 2018, the offline stores segment accounted for the highest
market share in terms of revenue. North America is expected to be the leading
contributor to the global Sunglasses market revenue in 2018.
The significant
increase in awareness regarding eye protection against harmful UV rays among
consumers, coupled with growth in living standards majorly drives the
Sunglasses market growth. The increasing adoption of fashion trends, and use of
sunglasses as a fashion accessory boosts the sunglasses market growth. The
rising penetration of e-commerce, driven by growing broadband internet
penetration, use of smartphones and an increasing proportion of technologically
inclined consumers would further support the growth of the Sunglasses market.
Consumers are increasingly becoming aware of eye health, which supports market
growth. The growing popularity of fashion trends, and increasing disposable
income encourage consumers to purchase designer, luxury, and branded sunglasses.
The growing retail industry, modern retail practices, growing technological
advancements, and online distribution efficiencies would increase the sale of
sunglasses during the forecast period.
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The growing
disposable income has encouraged consumers to buy high quality sunglasses that
are in perfect amalgamation with their increasing living standards. Moreover,
consumers are now opting for trendy and designer sunglasses according to latest
trends prevailing in the market. Youth prefer to don luxury sunglasses in an
effort to accentuate their overall appearance. Thus, lofty living standards and
increasing fashion consciousness would contribute to the growth of the
sunglasses market.
Sale of
sunglasses through online channels has gained significant popularity over the
years. The trend of online shopping is gaining traction in developing
economies, thereby encouraging established market players to distribute their
products globally. Emerging and new players are also using online platforms for
promotion and sale of products. Online distribution channels offer a global
platform to market players for expansion of customer base, while reducing
operation cost.
Competitive Landscape and Key Vendors:
North
America generated the highest Sunglasses market share in terms of revenue in
2018, and is expected to lead the global Sunglasses market throughout the
forecast period. The growing population, high disposable incomes, and
increasing health consciousness has accelerated the Sunglasses market growth in
the region. The increasing adoption of fashion trends, and online shopping is
generating numerous opportunities for the Sunglasses industry.
The
well-known 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. These companies launch new products and collaborate with
other market leaders to innovate and launch new products to meet the increasing
needs and requirements of consumers.
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