The global per capita income has witnessed a strong growth rate over the past few years, particularly in the emerging economies
According to a new report published by Allied Market Research, titled, Sports Sunglasses Market Analysis by Type, Gender, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2021–2027,” the global sports sunglasses market size was valued at $3.1 billion in 2019, and is projected to reach $3.4 billion by 2027, registering a CAGR of $6.8% from 2021 to 2027. Sports sunglasses are lenses made up of polycarbonate materials that are durable, sturdy, and safe for the eyes during the physical activity owing to which it is used in sports. The sports sunglasses are coated with UV blockers and ultraviolet B rays, which allows prevention from harmful UV rays. Sports sunglasses are differently shaped and designed as compared to regular sunglasses so that they can provide full protection to the eyes of sportsmen. Moreover, sports sunglasses are more impact-resistant as compared to traditional glass lenses made up of glass or plastic due to which it is used in swimming, cycling, mountain biking, and others. This drives the growth of the sports sunglasses market.
The key players operating in the sports sunglasses industry include Adidas AG (Adidas), Luxottica, PUMA SE, Nike, Inc., Decathlon SA, Under Armour, Inc., Titan Company Limited, Liberty Sports, Inc., Yiwu Conchen Glasses Co., Ltd., and Safilo Group S.p.A.
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The global per capita income has witnessed a strong growth rate over the past few years, particularly in the emerging economies. Developing countries offer lucrative sports sunglasses market opportunity. Increase in urbanization and growth of the middle class consumers in the developing and developed markets have encouraged the adoption of convenience-oriented lifestyles, making sports sunglasses more desirable for all age group people especially for youngsters. Moreover, rise in trend of usage of sports sunglasses with retro cat-eye lenses, round & transparent lenses, sunglasses with a chain, hexagon lenses, and visor sports sunglasses drives the growth of the sports sunglasses market trends. Availability of these sunglasses in various attractive designs such as streamlined design, wraparound frame, curved shape design, and others is becoming the point of attraction for customers which further drives the sports sunglasses market. In addition, increase in interest of children, teens, and adults toward sports activities also augments the growth of the sports sunglasses market.
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Sports sunglasses have become technologically advanced owing to continuous innovation by manufacturers. Moreover, now-a-days lenses are designed from shatter resistant and lightweight polycarbonate and nylon lens material to enhance comfort and provide better protection and coverage to the players. However, these sunglasses can cause allergy to eyes or can cause skin irritation to some players where the glasses contact the skin. This irritation is known as contact dermatitis. This allergy occurs due to the presence of potential allergens such as rubber, plastics, solvents, dyes, waxes, metals, plasticizers, cosmetics, nickel, UV stabilizers, and plastics in the sports sunglasses. These allergens result in eyewear allergies like itchiness discoloration, tearing, light sensitivity, blisters, ring-shaped rash around the eyes, redness, swelling, irritation, sores, and rash. Hence, the prevalence of these allergies in the population hampers the sports sunglasses market growth rate.
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Key Findings Of The Study
Based on type, the polarized segment dominates the market in 2019, and is expected to retain its dominance throughout the sports sunglasses market forecast period.
Depending on gender, the female segment accounted for highest share in 2019, and is projected to grow at a CAGR of 8.2% from 2021 to 2027.
By distribution channel, the specialty store segment was the major shareholder in 2019, and is projected to register a CAGR of 7.4% from 2021 to 2027.
Region wise, LAMEA accounted for about highest sports sunglasses market share in 2019, and is expected to grow at a CAGR of 10.4%.
Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
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Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small- & medium-scale enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.
Allied Market Research provides one-stop solution right from data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients understand the significance and impact of market dynamics. The company applies client’s insight on the factors such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligence support to help clients transform into a prominent business firm.
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