The sunglasses market is experiencing remarkable growth, projected to rise from $17.22 billion in 2023 to $18.87 billion in 2024, reflecting a compound annual growth rate (CAGR) of 9.6%. This surge is driven by fashion trends, heightened awareness of UV protection, celebrity endorsements, and an increase in tourism and outdoor activities. Looking ahead, the market is expected to reach $26.26 billion by 2028, with a CAGR of 8.6%. Key growth drivers include rising health consciousness, the influence of social media, and innovative brand collaborations.
Major Driver In The Sunglasses Market
The sunglasses market is expected to experience growth propelled by the growing popularity of sunglasses as a fashion accessory. The rise in consumer preference for well-designed and quality products to enhance their style has led to an increased demand for sunglasses. Sunglasses not only contribute to elevating the overall outfit but also provide symmetry to the wearer's face, enhancing the perception of their natural beauty. According to a report from The Vision Council in 2021, 85% of the world's adult population reported wearing sunglasses, with most individuals using them for sun protection, and some incorporating corrective lenses for prescription sunglasses. The surging popularity of sunglasses as a fashion product is a key driver for the growth of the sunglasses market, with market size projections for 2023, 2024, and 2028 capturing the influence of this fashion-driven trend.
Request A Free Sample Of The Global Sunglasses Market Report
Sunglasses Market Competitive Landscape
LVMH Moët Hennessy Louis Vuitton, Johnson & Johnson Vision Care Inc., Essilor International SAS, EssilorLuxottica SA, Kering SA, Luxottica Group S.p.A., Persol Holdings Co Ltd., Coach Inc., Burberry Group plc, VSP Global Inc., American Optical Company, Fielmann AG, Safilo Group S.p.A., Marcolin S.p.A., De Rigo Vision S.p.A., Oakley Inc., Maui Jim Inc., Oliver Inc., Julbo SA, Eyeking LLC, Alain Mikli International, Eyevan Inc., Bolon AB, Costa Del Mar Sunglasses Inc., Allure Eyewear LLC, Randolph Engineering Inc., Stylrite Optical Industries Pvt Ltd., AmSun Technology Private Limited, Bvlgari SpA, Dolce & Gabbana Srl, Michael Kors Holdings Limited, Polo Ralph Lauren Corp, Prada SpA, Ralph Lauren Corp, Tiffany & Co, Gianni Versace S.r.l., Ray-Ban Sun Optics Pvt Ltd.
Key Sunglasses Market Trend
Polarized sunglass-cum-face shield is a key trend gaining popularity in the sunglasses market. A polarized sunglasses-cum-face shield is a type of sunglass with a full-face shield including a polarized lens. A polarized lens is a type of lens that filters out light. The polarized protective face shield is equipped with UV protection that covers the entire face from eyes to chin providing complete protection. This development attempts to set a new fashion trend after the COVID-19 pandemic. For instance, in October 2021, ZGHYBD, a Japanese company launched polarized sunglasses-cum-face shields made with polycarbonate (PC) and is equipped with UV protection. It covers the entire face from eyes to chin and comes with anti-fog, windproof, and dustproof properties.
Get The Full Global Sunglasses Market Report
Sunglasses Market Segmentation
The sunglasses market covered in this report is segmented –
1) By Type: Non-Polarized, Polarized
2) By Design: Aviator/Pilot, Rectangle, Round, Square, Oval, Cat Eye, Other Designs
3) By Frame Metal: Injected, Metal, Acetate, Other Frame Metals
4) By Distribution Channel: Specialty Stores, Supermarkets & Hypermarkets, Online, Other Distribution Channels
By Geography:The regions covered in the sunglasses market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the sunglasses market in 2023 and it is also expected to be the fastest-growing region in the forecast period. The regions covered in the sunglasses market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Sunglasses Global Market Report 2024 furnishes information about the global sunglasses market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
