Report Code: CMI44343

Published Date: March 2024

Pages: 320+

Category: Consumer Goods

Report Snapshot

CAGR: 5.22%
23.1B
2023
24.1B
2024
40.9B
2033

Source: CMI

Study Period: 2024-2033
Fastest Growing Market: Asia-Pacific
Largest Market: Europe

Major Players

  • CHARMANT Group
  • De Rigo Vision S.p.A.
  • EssilorLuxottica SA
  • Fielmann AG
  • Fosun International Limited
  • Others

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Reports Description

Global Sunglasses Market was valued at USD 24.1 Billion in 2024 and is expected to reach USD 40.9 Billion by 2033, at a CAGR of 5.22% during the forecast period 2024 – 2033.

Sunglasses are a type of eyewear that consists of lenses tinted with a special coating to protect the eyes from the sun’s ultraviolet (UV) rays. They also help to reduce glare and improve visual comfort in bright conditions.

Sunglasses Market: Growth Factors

Increasing Awareness of UV Protection

With growing awareness about the harmful effects of ultraviolet (UV) radiation on eye health, there’s a rising demand for sunglasses offering UV protection. According to the World Health Organization (WHO), approximately 80% of UV-related eye damage occurs before the age of 20.

This statistic underscores the importance of protective eyewear, propelling the demand for sunglasses globally. Moreover, initiatives by health organizations and government campaigns advocating for UV protection further drive this trend.

Fashion and Lifestyle Trends

The global sunglasses market is significantly influenced by fashion and lifestyle trends. As sunglasses continue to evolve from being merely functional to fashion accessories, consumer preferences are shifting towards stylish and trendy designs.

Social media platforms like Instagram and Facebook serve as catalysts, with influencers and celebrities showcasing various eyewear styles, influencing consumer purchasing decisions. The rise of fast fashion brands and online retailers offering affordable yet fashionable sunglasses also contributes to market growth.

Sunglasses Market: Restraints

Counterfeit Products and Intellectual Property Concerns

Counterfeit sunglasses pose a significant challenge to the global market, impacting sales of authentic brands. According to the Organization for Economic Co-operation and Development (OECD), counterfeit sunglasses account for a significant portion of the global trade in counterfeit goods.

These counterfeit products not only erode the market share of genuine brands but also pose risks to consumer health as they often lack adequate UV protection. Intellectual property concerns further exacerbate this issue, hindering the growth of legitimate players in the market.

Price Sensitivity in Emerging Markets

Price sensitivity, particularly in emerging markets, acts as a restraint on the growth of the global sunglasses market. While there’s a growing demand for sunglasses in developing economies due to increasing disposable incomes and awareness, consumers in these regions often prioritize affordability over brand value.

This creates a challenge for premium sunglasses brands to penetrate these markets effectively. Additionally, fluctuating exchange rates and economic uncertainties in some regions further exacerbate price sensitivity, impacting sales and market expansion efforts.

Global Sunglasses Market 2024–2033 (By Lens Type)

www.custommarketinsight.com

Sunglasses Market: Opportunities

Rise of E-commerce Platforms

The proliferation of e-commerce platforms presents significant opportunities for players in the global sunglasses market. According to the United Nations Conference on Trade and Development (UNCTAD), e-commerce sales reached $26.7 trillion globally in 2023.

With the convenience of online shopping and the ability to reach a broader customer base, brands can capitalize on this trend by strengthening their online presence, leveraging digital marketing strategies, and offering seamless purchasing experiences.

Moreover, the advent of virtual try-on technologies enhances the online shopping experience, reducing the hesitation associated with buying sunglasses without trying them on physically.

Growing Demand for Polarized Sunglasses

The increasing preference for polarized sunglasses presents lucrative opportunities for market players. Polarized lenses offer superior glare reduction, making them ideal for outdoor activities such as driving, fishing, and skiing.

According to a study published by the National Eye Institute, prolonged exposure to glare can cause discomfort and visual disturbances, highlighting the importance of polarized eyewear. As consumers become more aware of the benefits of polarized sunglasses in enhancing visual comfort and clarity, there’s a growing demand for these products across various demographics, including outdoor enthusiasts, athletes, and everyday consumers.

Capitalizing on this trend through targeted marketing campaigns and product innovation can drive sales and market growth.

Global Sunglasses Market 2024–2033 (By Frame Material)

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Sunglasses Market: Segmentation Analysis

Global Sunglasses market is segmented by Lens type, lens Material, Frame Material, Frame style, and distribution channels.

Based on Lens Type, the sunglasses market is segmented into Polarized, Nonpolarized. Among all these segments Polarized held the highest market share in 2023. Polarized sunglasses offer superior glare reduction and are popular among consumers engaged in outdoor activities such as sports, driving, and fishing.

While polarized sunglasses may dominate due to their functional benefits, the nonpolarized segment could be growing faster due to fashion trends or specific consumer preferences.

Based on Lens Material, the sunglasses market is segmented into Glass, Polycarbonate, and CR39. Among all these segments Polycarbonate held the highest market share in 2023.

Polycarbonate lenses are lightweight, impact-resistant, and offer UV protection, making them a preferred choice for active individuals and sports enthusiasts. CR39 lenses are increasingly gaining popularity due to their optical clarity, scratch resistance, and affordability compared to alternatives like glass.

Based on Frame Material, the sunglasses market is segmented into Plastic, Metal, and Carbon Fiber. Among all these segments Plastic held the highest market share in 2022. Plastic frames are versatile, lightweight, and often more affordable than metal or carbon fiber frames, appealing to a wide range of consumers.

Carbon fiber frames are gaining popularity due to their durability, lightweight construction, and sleek aesthetic, especially among consumers looking for high-performance and premium sunglasses.

Based on Frame Style, the sunglasses market is segmented into Aviator, Wayfarer, Round, Cateye, Sports, and Wraparound. Among all these segments Aviator held the highest market share in 2023. Aviator sunglasses have timeless appeal and are favored by consumers for their classic design, which complements various face shapes and styles.

With the growing emphasis on fitness and outdoor activities, sports sunglasses are witnessing increased demand, driven by athletes and recreational enthusiasts seeking specialized eyewear for performance and protection.

Based on the Distribution Channel, the sunglasses market is segmented into Department stores, Specialty stores, Eyewear stores, Optometrists, and Online Retail. Among all these segments Online Retail held the highest market share in 2023.

Online retail channels offer convenience, a wide variety of choices, and often competitive pricing, attracting a significant portion of consumers who prefer the ease of shopping from their homes. While online retail dominates in terms of overall market share, specialty stores may be experiencing faster growth due to their ability to provide personalized service, curated selections, and immersive shopping experiences, appealing to consumers seeking expertise and exclusivity in their eyewear purchases.

Report Scope

Feature of the Report Details
Market Size in 2024 USD 24.1 Billion
Projected Market Size in 2033 USD 40.9 Billion
Market Size in 2023 USD 23.1 Billion
CAGR Growth Rate 5.22% CAGR
Base Year 2023
Forecast Period 2024-2033
Key Segment By Lens Type, Lens Material, Frame Material, Frame Style, Distribution Channel and Region
Report Coverage Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options Request tailored purchasing options to fulfil your requirements for research.

Sunglasses Market: Regional Insight

In summary, while North America leads the global sunglasses market due to its strong consumer culture and high disposable incomes, the Asia Pacific region stands out as the fastest-growing market, driven by rapid economic development, increasing consumer spending power, and growing awareness of fashion trends and eye health.

Both regions offer significant opportunities for sunglasses manufacturers and retailers, but understanding the unique dynamics and consumer behaviours within each region is crucial for successfully capitalizing on these opportunities.

North America boasts high disposable incomes and a strong consumer culture, particularly in the United States. Americans place significant emphasis on fashion and lifestyle products, including sunglasses, which contribute to the region’s dominant position in the market.

Additionally, the presence of established brands, extensive distribution networks, and robust marketing strategies further solidify North America’s leading status in the sunglasses industry. Moreover, innovations in eyewear technology and a growing awareness of UV protection also drive demand in this region.

Asia Pacific emerges as the fastest-growing region in the global sunglasses market. The region’s rapid economic development, particularly in countries like China, India, and Southeast Asian nations, fuels an expanding middle class with increasing purchasing power.

As disposable incomes rise, so does consumer spending on lifestyle and fashion accessories, including sunglasses. Furthermore, the growing awareness of eye health and the influence of Western fashion trends contribute to the surging demand for sunglasses in the Asia Pacific region.

Additionally, the presence of a large youth population with a keen interest in fashion further accelerates market growth. Moreover, the emergence of online retail channels and the adoption of e-commerce platforms facilitate easier access to sunglasses, driving sales growth in the region.

Global Sunglasses Market 2024–2033 (By Billion)

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Sunglasses Market: Recent Developments

  • In January 2024, EssilorLuxottica Launched New Sustainability Initiatives. The eyewear giant announced several initiatives aimed at reducing its environmental impact, including using recycled materials in 50% of its sunglasses by 2025 and achieving carbon neutrality by 2030. This aligns with the growing consumer demand for sustainable products and could attract eco-conscious customers.
  • In December 2023, Maui Jim Expanded into the Eyecare Marketplace. The premium sunglass brand partnered with EyeBuyDirect, a leading online retailer, to offer its products through a broader distribution channel. This move expands Maui Jim’s reach and caters to the increasing popularity of online eyewear purchases.
  • In November 2023, Safilo Group Strengthened its Digital Presence. Safilo launched a revamped e-commerce platform with enhanced features and a personalized shopping experience. This investment in digital infrastructure reflects the growing importance of online sales in the sunglass market.
  • In October 2023, Marchon Eyewear Collaborated with an Influencer for the Limited Edition Collection. Marchon partnered with fashion influencer Chiara Ferragni to design a limited-edition sunglass collection. This collaboration leverages the power of influencer marketing to reach younger demographics and drive brand awareness.
  • In September 2023, De Rigo Vision Introduced “Phygital” Eyewear. De Rigo partnered with the Philipp Plein brand to launch “Crypto King$ Limited Edition,” a luxury sunglass collection with a unique NFT component. This innovative approach integrates physical and digital elements, catering to tech-savvy consumers and potentially setting a trend for future eyewear offerings.

List of the prominent players in the Sunglasses Market:

  • CHARMANT Group
  • De Rigo Vision S.p.A.
  • EssilorLuxottica SA
  • Fielmann AG
  • Fosun International Limited
  • Kering Eyewear S.p.A.
  • Luxottica Group
  • LVMH Group
  • Marcolin S.p.A.
  • Maui Jim
  • Pivothead
  • Revo Holdings LLC
  • Safilo Group S.p.A.
  • Specsavers Optical
  • STATE Optical Co.
  • VSP Global
  • Others

These key players are adopting various organic and inorganic growth strategies such as mergers & acquisitions, joint ventures, expansion, strategic alliances, new product launches, etc. to enhance their business operations and revenues.

The Sunglasses Market is segmented as follows:

By Lens Type

  • Polarized
  • Nonpolarized

By Lens Material

  • Glass
  • Polycarbonate
  • CR39

By Frame Material

  • Plastic
  • Metal
  • Carbon Fiber

By Frame Style

  • Aviator
  • Wayfarer
  • Round
  • Cateye
  • Sports
  • Wraparound

By Distribution Channel

  • Department stores
  • Specialty stores
  • Eyewear stores
  • Optometrists
  • Online Retail

Regional Coverage:

North America

  • U.S.
  • Canada
  • Mexico
  • Rest of North America

Europe

  • Germany
  • France
  • U.K.
  • Russia
  • Italy
  • Spain
  • Netherlands
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • New Zealand
  • Australia
  • South Korea
  • Taiwan
  • Rest of Asia Pacific

The Middle East & Africa

  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa

Latin America

  • Brazil
  • Argentina
  • Rest of Latin America

Table of Contents

  • Chapter 1. Preface
    • 1.1 Report Description and Scope
    • 1.2 Research scope
    • 1.3 Research methodology
      • 1.3.1 Market Research Type
      • 1.3.2 Market Research Methodology
  • Chapter 2. Executive Summary
    • 2.1 Global Sunglasses Market, (2024 – 2033) (USD Billion)
    • 2.2 Global Sunglasses Market: snapshot
  • Chapter 3. Global Sunglasses Market – Industry Analysis
    • 3.1 Sunglasses Market: Market Dynamics
    • 3.2 Market Drivers
      • 3.2.1 Increasing Awareness of UV Protection
      • 3.2.2 Fashion and Lifestyle Trends
    • 3.3 Market Restraints
    • 3.4 Market Opportunities
    • 3.5 Market Challenges
    • 3.6 Porter’s Five Forces Analysis
    • 3.7 Market Attractiveness Analysis
      • 3.7.1 Market Attractiveness Analysis By Lens Type
      • 3.7.2 Market Attractiveness Analysis By Lens Material
      • 3.7.3 Market Attractiveness Analysis By Frame Material
      • 3.7.4 Market Attractiveness Analysis By Frame Style
      • 3.7.5 Market Attractiveness Analysis By Distribution Channel
  • Chapter 4. Global Sunglasses Market- Competitive Landscape
    • 4.1 Company market share analysis
      • 4.1.1 Global Sunglasses Market: Company Market Share, 2024
    • 4.2 Strategic development
      • 4.2.1 Acquisitions & mergers
      • 4.2.2 New Product launches
      • 4.2.3 Agreements, partnerships, cullaborations, and joint ventures
      • 4.2.4 Research and development and Regional expansion
    • 4.3 Price trend analysis
  • Chapter 5. Global Sunglasses Market – Lens Type Analysis
    • 5.1 Global Sunglasses Market Overview: By Lens Type
      • 5.1.1 Global Sunglasses Market Share, By Lens Type, 2024 and – 2033
    • 5.2 Polarized
      • 5.2.1 Global Sunglasses Market by Polarized, 2024 – 2033 (USD Billion)
    • 5.3 Nonpolarized
      • 5.3.1 Global Sunglasses Market by Nonpolarized, 2024 – 2033 (USD Billion)
  • Chapter 6. Global Sunglasses Market – Lens Material Analysis
    • 6.1 Global Sunglasses Market Overview: By Lens Material
      • 6.1.1 Global Sunglasses Market Share, By Lens Material, 2024 and – 2033
    • 6.2 Glass
      • 6.2.1 Global Sunglasses Market by Glass, 2024 – 2033 (USD Billion)
    • 6.3 Polycarbonate
      • 6.3.1 Global Sunglasses Market by Polycarbonate, 2024 – 2033 (USD Billion)
    • 6.4 CR39
      • 6.4.1 Global Sunglasses Market by CR39, 2024 – 2033 (USD Billion)
  • Chapter 7. Global Sunglasses Market – Frame Material Analysis
    • 7.1 Global Sunglasses Market Overview: By Frame Material
      • 7.1.1 Global Sunglasses Market Share, By Frame Material, 2024 and – 2033
    • 7.2 Plastic
      • 7.2.1 Global Sunglasses Market by Plastic, 2024 – 2033 (USD Billion)
    • 7.3 Metal
      • 7.3.1 Global Sunglasses Market by Metal, 2024 – 2033 (USD Billion)
    • 7.4 Carbon Fiber
      • 7.4.1 Global Sunglasses Market by Carbon Fiber, 2024 – 2033 (USD Billion)
  • Chapter 8. Global Sunglasses Market – Frame Style Analysis
    • 8.1 Global Sunglasses Market Overview: By Frame Style
      • 8.1.1 Global Sunglasses Market Share, By Frame Style, 2024 and – 2033
    • 8.2 Aviator
      • 8.2.1 Global Sunglasses Market by Aviator, 2024 – 2033 (USD Billion)
    • 8.3 Wayfarer
      • 8.3.1 Global Sunglasses Market by Wayfarer, 2024 – 2033 (USD Billion)
    • 8.4 Round
      • 8.4.1 Global Sunglasses Market by Round, 2024 – 2033 (USD Billion)
    • 8.5 Cateye
      • 8.5.1 Global Sunglasses Market by Cateye, 2024 – 2033 (USD Billion)
    • 8.6 Sports
      • 8.6.1 Global Sunglasses Market by Sports, 2024 – 2033 (USD Billion)
    • 8.7 Wraparound
      • 8.7.1 Global Sunglasses Market by Wraparound, 2024 – 2033 (USD Billion)
  • Chapter 9. Global Sunglasses Market – Distribution Channel Analysis
    • 9.1 Global Sunglasses Market Overview: By Distribution Channel
      • 9.1.1 Global Sunglasses Market Share, By Distribution Channel, 2024 and – 2033
    • 9.2 Department stores
      • 9.2.1 Global Sunglasses Market by Department Stores, 2024 – 2033 (USD Billion)
    • 9.3 Specialty stores
      • 9.3.1 Global Sunglasses Market by Specialty Stores, 2024 – 2033 (USD Billion)
    • 9.4 Eyewear stores
      • 9.4.1 Global Sunglasses Market by Eyewear Stores, 2024 – 2033 (USD Billion)
    • 9.5 Optometrists
      • 9.5.1 Global Sunglasses Market by Optometrists, 2024 – 2033 (USD Billion)
    • 9.6 Online Retail
      • 9.6.1 Global Sunglasses Market by Online Retail, 2024 – 2033 (USD Billion)
  • Chapter 10. Sunglasse’s Market – Regional Analysis
    • 10.1 Global Sunglasse’s Market Regional Overview
    • 10.2 Global Sunglasse’s Market Share, by Region, 2024 & – 2033 (USD Billion)
    • 10.3. North America
      • 10.3.1 North America Sunglasse’s Market, 2024 – 2033 (USD Billion)
        • 10.3.1.1 North America Sunglasse’s Market, by Country, 2024 – 2033 (USD Billion)
    • 10.4 North America Sunglasse’s Market, by Lens Type, 2024 – 2033
      • 10.4.1 North America Sunglasse’s Market, by Lens Type, 2024 – 2033 (USD Billion)
    • 10.5 North America Sunglasse’s Market, by Lens Material, 2024 – 2033
      • 10.5.1 North America Sunglasse’s Market, by Lens Material, 2024 – 2033 (USD Billion)
    • 10.6 North America Sunglasse’s Market, by Frame Material, 2024 – 2033
      • 10.6.1 North America Sunglasse’s Market, by Frame Material, 2024 – 2033 (USD Billion)
    • 10.7 North America Sunglasse’s Market, by Frame Style, 2024 – 2033
      • 10.7.1 North America Sunglasse’s Market, by Frame Style, 2024 – 2033 (USD Billion)
    • 10.8 North America Sunglasse’s Market, by Distribution Channel, 2024 – 2033
      • 10.8.1 North America Sunglasse’s Market, by Distribution Channel, 2024 – 2033 (USD Billion)
    • 10.9. Europe
      • 10.9.1 Europe Sunglasse’s Market, 2024 – 2033 (USD Billion)
        • 10.9.1.1 Europe Sunglasse’s Market, by Country, 2024 – 2033 (USD Billion)
    • 10.10 Europe Sunglasse’s Market, by Lens Type, 2024 – 2033
      • 10.10.1 Europe Sunglasse’s Market, by Lens Type, 2024 – 2033 (USD Billion)
    • 10.11 Europe Sunglasse’s Market, by Lens Material, 2024 – 2033
      • 10.11.1 Europe Sunglasse’s Market, by Lens Material, 2024 – 2033 (USD Billion)
    • 10.12 Europe Sunglasse’s Market, by Frame Material, 2024 – 2033
      • 10.12.1 Europe Sunglasse’s Market, by Frame Material, 2024 – 2033 (USD Billion)
    • 10.13 Europe Sunglasse’s Market, by Frame Style, 2024 – 2033
      • 10.13.1 Europe Sunglasse’s Market, by Frame Style, 2024 – 2033 (USD Billion)
    • 10.14 Europe Sunglasse’s Market, by Distribution Channel, 2024 – 2033
      • 10.14.1 Europe Sunglasse’s Market, by Distribution Channel, 2024 – 2033 (USD Billion)
    • 10.15. Asia Pacific
      • 10.15.1 Asia Pacific Sunglasse’s Market, 2024 – 2033 (USD Billion)
        • 10.15.1.1 Asia Pacific Sunglasse’s Market, by Country, 2024 – 2033 (USD Billion)
    • 10.16 Asia Pacific Sunglasse’s Market, by Lens Type, 2024 – 2033
      • 10.16.1 Asia Pacific Sunglasse’s Market, by Lens Type, 2024 – 2033 (USD Billion)
    • 10.17 Asia Pacific Sunglasse’s Market, by Lens Material, 2024 – 2033
      • 10.17.1 Asia Pacific Sunglasse’s Market, by Lens Material, 2024 – 2033 (USD Billion)
    • 10.18 Asia Pacific Sunglasse’s Market, by Frame Material, 2024 – 2033
      • 10.18.1 Asia Pacific Sunglasse’s Market, by Frame Material, 2024 – 2033 (USD Billion)
    • 10.19 Asia Pacific Sunglasse’s Market, by Frame Style, 2024 – 2033
      • 10.19.1 Asia Pacific Sunglasse’s Market, by Frame Style, 2024 – 2033 (USD Billion)
    • 10.20 Asia Pacific Sunglasse’s Market, by Distribution Channel, 2024 – 2033
      • 10.20.1 Asia Pacific Sunglasse’s Market, by Distribution Channel, 2024 – 2033 (USD Billion)
    • 10.21. Latin America
      • 10.21.1 Latin America Sunglasse’s Market, 2024 – 2033 (USD Billion)
        • 10.21.1.1 Latin America Sunglasse’s Market, by Country, 2024 – 2033 (USD Billion)
    • 10.22 Latin America Sunglasse’s Market, by Lens Type, 2024 – 2033
      • 10.22.1 Latin America Sunglasse’s Market, by Lens Type, 2024 – 2033 (USD Billion)
    • 10.23 Latin America Sunglasse’s Market, by Lens Material, 2024 – 2033
      • 10.23.1 Latin America Sunglasse’s Market, by Lens Material, 2024 – 2033 (USD Billion)
    • 10.24 Latin America Sunglasse’s Market, by Frame Material, 2024 – 2033
      • 10.24.1 Latin America Sunglasse’s Market, by Frame Material, 2024 – 2033 (USD Billion)
    • 10.25 Latin America Sunglasse’s Market, by Frame Style, 2024 – 2033
      • 10.25.1 Latin America Sunglasse’s Market, by Frame Style, 2024 – 2033 (USD Billion)
    • 10.26 Latin America Sunglasse’s Market, by Distribution Channel, 2024 – 2033
      • 10.26.1 Latin America Sunglasse’s Market, by Distribution Channel, 2024 – 2033 (USD Billion)
    • 10.27. The Middle-East and Africa
      • 10.27.1 The Middle-East and Africa Sunglasse’s Market, 2024 – 2033 (USD Billion)
        • 10.27.1.1 The Middle-East and Africa Sunglasse’s Market, by Country, 2024 – 2033 (USD Billion)
    • 10.28 The Middle-East and Africa Sunglasse’s Market, by Lens Type, 2024 – 2033
      • 10.28.1 The Middle-East and Africa Sunglasse’s Market, by Lens Type, 2024 – 2033 (USD Billion)
    • 10.29 The Middle-East and Africa Sunglasse’s Market, by Lens Material, 2024 – 2033
      • 10.29.1 The Middle-East and Africa Sunglasse’s Market, by Lens Material, 2024 – 2033 (USD Billion)
    • 10.30 The Middle-East and Africa Sunglasse’s Market, by Frame Material, 2024 – 2033
      • 10.30.1 The Middle-East and Africa Sunglasse’s Market, by Frame Material, 2024 – 2033 (USD Billion)
    • 10.31 The Middle-East and Africa Sunglasse’s Market, by Frame Style, 2024 – 2033
      • 10.31.1 The Middle-East and Africa Sunglasse’s Market, by Frame Style, 2024 – 2033 (USD Billion)
    • 10.32 The Middle-East and Africa Sunglasse’s Market, by Distribution Channel, 2024 – 2033
      • 10.32.1 The Middle-East and Africa Sunglasse’s Market, by Distribution Channel, 2024 – 2033 (USD Billion)
  • Chapter 11. Company Profiles
    • 11.1 CHARMANT Group
      • 11.1.1 Overview
      • 11.1.2 Financials
      • 11.1.3 Product Portfolio
      • 11.1.4 Business Strategy
      • 11.1.5 Recent Developments
    • 11.2 De Rigo Vision S.p.A.
      • 11.2.1 Overview
      • 11.2.2 Financials
      • 11.2.3 Product Portfolio
      • 11.2.4 Business Strategy
      • 11.2.5 Recent Developments
    • 11.3 EssilorLuxottica SA
      • 11.3.1 Overview
      • 11.3.2 Financials
      • 11.3.3 Product Portfolio
      • 11.3.4 Business Strategy
      • 11.3.5 Recent Developments
    • 11.4 Fielmann AG
      • 11.4.1 Overview
      • 11.4.2 Financials
      • 11.4.3 Product Portfolio
      • 11.4.4 Business Strategy
      • 11.4.5 Recent Developments
    • 11.5 Fosun International Limited
      • 11.5.1 Overview
      • 11.5.2 Financials
      • 11.5.3 Product Portfolio
      • 11.5.4 Business Strategy
      • 11.5.5 Recent Developments
    • 11.6 Kering Eyewear S.p.A.
      • 11.6.1 Overview
      • 11.6.2 Financials
      • 11.6.3 Product Portfolio
      • 11.6.4 Business Strategy
      • 11.6.5 Recent Developments
    • 11.7 Luxottica Group
      • 11.7.1 Overview
      • 11.7.2 Financials
      • 11.7.3 Product Portfolio
      • 11.7.4 Business Strategy
      • 11.7.5 Recent Developments
    • 11.8 LVMH Group
      • 11.8.1 Overview
      • 11.8.2 Financials
      • 11.8.3 Product Portfolio
      • 11.8.4 Business Strategy
      • 11.8.5 Recent Developments
    • 11.9 Marcolin S.p.A.
      • 11.9.1 Overview
      • 11.9.2 Financials
      • 11.9.3 Product Portfolio
      • 11.9.4 Business Strategy
      • 11.9.5 Recent Developments
    • 11.10 Maui Jim
      • 11.10.1 Overview
      • 11.10.2 Financials
      • 11.10.3 Product Portfolio
      • 11.10.4 Business Strategy
      • 11.10.5 Recent Developments
    • 11.11 Pivothead
      • 11.11.1 Overview
      • 11.11.2 Financials
      • 11.11.3 Product Portfolio
      • 11.11.4 Business Strategy
      • 11.11.5 Recent Developments
    • 11.12 Revo Holdings LLC
      • 11.12.1 Overview
      • 11.12.2 Financials
      • 11.12.3 Product Portfolio
      • 11.12.4 Business Strategy
      • 11.12.5 Recent Developments
    • 11.13 Safilo Group S.p.A.
      • 11.13.1 Overview
      • 11.13.2 Financials
      • 11.13.3 Product Portfolio
      • 11.13.4 Business Strategy
      • 11.13.5 Recent Developments
    • 11.14 Specsavers Optical
      • 11.14.1 Overview
      • 11.14.2 Financials
      • 11.14.3 Product Portfolio
      • 11.14.4 Business Strategy
      • 11.14.5 Recent Developments
    • 11.15 STATE Optical Co.
      • 11.15.1 Overview
      • 11.15.2 Financials
      • 11.15.3 Product Portfolio
      • 11.15.4 Business Strategy
      • 11.15.5 Recent Developments
    • 11.16 VSP Global
      • 11.16.1 Overview
      • 11.16.2 Financials
      • 11.16.3 Product Portfolio
      • 11.16.4 Business Strategy
      • 11.16.5 Recent Developments
    • 11.17 Others.
      • 11.17.1 Overview
      • 11.17.2 Financials
      • 11.17.3 Product Portfolio
      • 11.17.4 Business Strategy
      • 11.17.5 Recent Developments
List Of Figures

Figures No 1 to 39

List Of Tables

Tables No 1 to 127

Report Methodology

In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:

Preliminary Data Mining

On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.

Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.

Statistical Model

Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.

Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.

Some of the variables taken into account for forecasting are as follows:

• Industry drivers and constraints, as well as their current and projected impact

• The raw material case, as well as supply-versus-price trends

• Current volume and projected volume growth through 2032

We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.

Primary Validation

This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.

Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.

All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:

• Market leaders

• Suppliers of raw materials

• Suppliers of raw materials

• Buyers.

The following are the primary research objectives:

• To ensure the accuracy and acceptability of our data.

• Gaining an understanding of the current market and future projections.

Data Collection Matrix

Perspective Primary research Secondary research
Supply-side
  • Manufacturers
  • Technology distributors and wholesalers
  • Company reports and publications
  • Government publications
  • Independent investigations
  • Economic and demographic data
Demand-side
  • End-user surveys
  • Consumer surveys
  • Mystery shopping
  • Case studies
  • Reference customers


Market Analysis Matrix

Qualitative analysis Quantitative analysis
  • Industry landscape and trends
  • Market dynamics and key issues
  • Technology landscape
  • Market opportunities
  • Porter’s analysis and PESTEL analysis
  • Competitive landscape and component benchmarking
  • Policy and regulatory scenario
  • Market revenue estimates and forecast up to 2032
  • Market revenue estimates and forecasts up to 2032, by technology
  • Market revenue estimates and forecasts up to 2032, by application
  • Market revenue estimates and forecasts up to 2032, by type
  • Market revenue estimates and forecasts up to 2032, by component
  • Regional market revenue forecasts, by technology
  • Regional market revenue forecasts, by application
  • Regional market revenue forecasts, by type
  • Regional market revenue forecasts, by component

Prominent Player

  • CHARMANT Group
  • De Rigo Vision S.p.A.
  • EssilorLuxottica SA
  • Fielmann AG
  • Fosun International Limited
  • Kering Eyewear S.p.A.
  • Luxottica Group
  • LVMH Group
  • Marcolin S.p.A.
  • Maui Jim
  • Pivothead
  • Revo Holdings LLC
  • Safilo Group S.p.A.
  • Specsavers Optical
  • STATE Optical Co.
  • VSP Global
  • Others

FAQs

The Counterfeit Products and Intellectual Property Concerns is major restraint in global Sunglasses market.

The Increasing Awareness of UV Protection is major driver in global Sunglasses market.

The “Polarized” category dominated the market in 2023.

The key players in the market are CHARMANT Group, De Rigo Vision S.p.A., EssilorLuxottica SA, Fielmann AG, Fosun International Limited, Kering Eyewear S.p.A., Luxottica Group, LVMH Group, Marcolin S.p.A., Maui Jim, Pivothead, Revo Holdings LLC, Safilo Group S.p.A., Specsavers Optical, STATE Optical Co., VSP Global, Others.

“North America” had the largest share in the Sunglasses Market.

The global market is projected to grow at a CAGR of 5.22% during the forecast period, 2024-2033.

The Sunglasses Market size was valued at USD 24.1 Billion in 2024.

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