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2021

Sunglasses Market

Sunglasses Market Size, Share, Competitive Landscape and Trend Analysis Report by Type (Polarized and Non-polarized), Design (Aviator/Pilot, Rectangle, Round, Square, Oval, Cat Eye, and Others), Frame Material (Acetate, Metal, Injected, and Others) and Distribution Channel (Supermarkets/Hypermarkets, Specialty Stores, Convenience Stores, and Online Sales Channel): Global Opportunity Analysis and Industry Forecast 2021-2027

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Author's: Aniket Kadam | Roshan Deshmukh
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The global sunglasses market size was valued at $16,851 million in 2019, and is estimated to reach $18,164 million by 2027, registering a CAGR of 4.2% from 2021 to 2027. 

Sunglasses are special lenses or protective eyewear designed to protect the eyes from the sun’s glare and high-energy visible light. They sometimes function as a visual aid. Sunglasses feature colored, polarized/darkened lenses that protect the eyes from sunlight.

Sunglasses-Market

Sunglasses are perceived as a luxury fashion accessory. The sunglasses market share had increased rapidly within the luxurious fashion goods industry in the past decade. The sunglasses, besides providing style and fashion design, also offers valuable functions. Sunglasses are meant to provide comfort to the eyes by blocking the bright rays of the sun. According to the National Eye Institute, around 20% cases of cataracts are caused due to the UV exposure. Sunglasses blocks 99% to 100% UVA and UVB rays of the sun and protect the eyes from the sun’s glare. Increase in consumer awareness regarding eyes protection along with rise in disposable income fuel the global sunglasses market significantly. Moreover, the growing demand for fashionable accessories among the global youth population is another notable factor responsible for fostering the growth of the sunglasses market during the forecasted period.

The outbreak of COVID-19 had negatively affected the manufacturing activities and disrupted the distribution network of the sunglasses market globally. People were forced to stay at their homes to stop the spread of the disease. The government’s stringent rules regarding social distancing and complete lockdowns had resulted in huge losses for the vendors operating in the market. All the major brand outlets and other sales channel were closed during the lockdown period. However, a V-shaped recovery is expected in the post-COVID period. The approval of few vaccines developed by major economies would probably show a positive impact in the sunglasses market. Moreover, the online sales channel is projected to witness a significant growth due to the pandemic in the upcoming years. Key players are constantly developing their online sales channel to provide a superior consumer experience to their customers. The future lies in the digitization of the supply chains in the sunglasses industry throughout the globe.

Sunglasses Market
By Type
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Non-Polarized segment dominates the global market and is expected to retain its dominance throughout the forecast period.

According to the sunglasses market analysis, the sunglasses market is segmented into type, design, frame material, distribution channel, and region. On the basis of type, the market is categorized into polarized and non-polarized. By design, it is segregated into aviator/pilot, rectangle, square, oval, cat eye, and others. On the basis of frame design, it is segmented into acetate, metal, injected, and others. Based on the distribution channel, it is segmented into supermarkets/hypermarkets, specialty stores, convenience stores, and online sales channel. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Italy, Germany, Netherlands, Switzerland, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa)

According to the sunglasses market forecast, on the basis of type, the non-polarized segment was the highest contributor to the market, with $11,306.2 million in 2019, and is expected to sustain its significance during the forecast period. The non-polarized sunglasses consist of glass or plastic lenses and a frame holding the lenses. The non-polarized sunglasses reduce the overall intensity of the bright sunlight. A wide variety of non-polarized sunglasses are available depending upon the color of the lenses, design, materials used in the frames, and on-demand customization of the glasses. It is a popular choice of the consumers across the globe due to its wide range of varieties and easy availability in both offline and online channels.

Sunglasses Market
By Design
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Cat Eye segment is expected to grow at a highest CAGR of 5.2% during the forecast period.

On the basis of design, the round segment was the highest contributor to the market, with $3,282.7 million in 2019, and is estimated to reach $3,436.8 million by 2027, at a CAGR of 3.8% during the forecast period. The round and aviator segments collectively accounted for around 36.5% sunglasses market share in 2019. The cat eye and oval segments are expected to witness significant growth rate during the forecast period.  

The cat eye and oval are emerging segments of the sunglasses market. Women are increasingly opting for cat eye and oval sunglasses. The aviator, round, oval, and cat eye sunglasses are currently trending in the market. The cat eye glasses are trending among women as the celebrities such as Rihanna, Kendall, RiRi, and the Hadid sisters added the design to their wardrobe. Celebrity endorsement plays a crucial factor in deciding the trending sunglasses designs.

Sunglasses Market
By Frame Material
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Acetate segment dominates the global market and is expected to retain its dominance throughout the forecast period.

On the basis of frame material, the injected frame segment was valued at $6,338.9 million in 2019, and is expected to reach $6,619.9 million by 2027, with a CAGR of 3.8%. Injected frame material is less expensive and its manufacturing involves less time. It is made by injecting the petroleum-based plastic liquid into a metal mold. It is popular owing to its light-weight and comfort features and injected frames can be produced with a wide range of colors.

According to the sunglasses market trends, depending on distribution channel, the specialty store is a popular medium for customers to buy sunglasses. Easy availability of desired brands, designs, and colors of sunglasses drives the growth of the specialty store segment. 

Sunglasses Market
By Distribution Channel
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Online segment is expected to grow at a highest CAGR of 5.7 % during the forecast period.

Online sale of sunglasses is also gaining popularity among customers, owing to proliferation of digital platforms at a global level.

Region wise, North America dominated the sunglasses market in 2019, and is expected to sustain its dominance throughout the forecast period. The key factors driving the of the sunglasses market growth in the region are high purchasing capacity of the majority of the population, high demand for luxury and superior quality products, and consumer awareness regarding vision care.

The players operating in the global sunglasses market have adopted various developmental strategies to expand their market share, exploit the sunglasses market opportunity, and increase profitability in the market. The key players profiled in this report include EssilorLuxottica SA, Safilo Group SpA, Fielmann AG, Marcolin Eyewear, De Rigo Vision Spa, Stylrite Optical Industries, Eyevan Inc., Loch, Randolph, and Eugenia Eyewear.

Sunglasses Market
By Region
2027
North America 
Europe
Asia-Pacific
LAMEA

Asia-Pacific segment is expected to grow at a highest CAGR of 6.9% during the forecast period.

Key Benefits For Stakeholders

  • The report provides a quantitative analysis of the current market trends, estimations, and dynamics of the market size from 2019 to 2027 to identify the prevailing opportunities.
  • Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
  • In-depth analysis and the market size and segmentation assist to determine the prevailing sunglasses market opportunities.
  • The major countries in each region are mapped according to their revenue contribution to the market. 
  • The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the sunglasses industry.

Sunglasses Market Report Highlights

Aspects Details
Sunglasses Market By Type
By Type
  • POLARIZED
  • NON-POLARIZED
Sunglasses Market By DESIGN
By DESIGN
  • Aviator/Pilot
  • Rectangle
  • Round
  • Square
  • Oval
  • Cat Eye
  • Others
Sunglasses Market By FRAME MATERIAL
By FRAME MATERIAL
  • Acetate
  • Metal
  • Injected
  • Others
Sunglasses Market By Distribution Channel
By Distribution Channel
  • SUPERMARKET AND HYPERMARKET
  • SPECIALTY STORE
  • CONVENIENCE STORE
  • Online Sales Channel
Sunglasses Market By Geography
By Geography
  • NORTH AMERICA
    • US
    • CANADA
    • MEXICO
  • EUROPE
    • UK
    • FRANCE
    • ITALY
    • GERMANY
    • NETHERLANDS
    • SWITZERLAND
    • REST OF EUROPE
  • ASIA-PACIFIC
    • CHINA
    • JAPAN
    • INDIA
    • SOUTH KOREA
    • AUSTRALIA
    • REST OF ASIA-PACIFIC
  • LAMEA
    • BRAZIL
    • SOUTH AFRICA
    • UNITED ARAB EMIRATES
    • REST OF LAMEA
Key Market Players
Key Market Players

Marcolin S.p.A. (Marcolin Group), SAFILO GROUP S.p.A., Wenzhou Eugenia Eyewear Co., Ltd.(Eugenia Eyewear), EssilorLuxottica SA, De Rigo Vision S.p.A., .Fielmann AG, Eyevan Inc., Loch Effects, Randolph Engineering, Inc., Stylrite Optical Industries

Analyst Review

The sunglasses are the most common fashion accessory along with associated benefits for the eyes. Basically a sunglass is an eye-care product but eventually it became an essential fashion accessory. The sunglasses market is fostering due to various factors such as growing awareness regarding eye-care, significant demand from the youth population, sportspersons, travel enthusiasts, increased consumer spending on health-related products, and its perception as a fashion accessory. The sunglasses can be termed as an essential product as it protects eyes from harmful UV rays of the sun and helps prevent eye diseases caused due to the extended exposure to the sunlight.

The online distribution and sales channel will play a crucial role in the forthcoming years in the growth of the global sunglasses market. The online sales channel has a very low share, it is yet to witness a significant growth during the forecast period. Further, the technological advancements like 3D try-on developed by various market players on their website is trying to compete with the offline channels to provide the customer best user experience while sitting at home. The social media platforms, celebrity endorsements, and social media influencers have a major role to play in the growth of the global sunglasses market.

Moreover, the outbreak of COVID-19 pandemic has made it a compulsion for the market players to invest and develop their digital sales channel to compete in the market. As a result, major companies are investing substantially in digitization and various other online platforms to get off to a flying start in the post-COVID period. 

Author Name(s) : Aniket Kadam | Roshan Deshmukh
Frequently Asked Questions?

The global sunglasses market size was valued at $16,851 million in 2019, and is estimated to reach $18,164 million by 2027, registering a CAGR of 4.2% from 2021 to 2027. The growing consumer awareness regarding vision care, rising disposable income, celebrity endorsements, growing demand for fashion and luxury accessories among the young population will boost the growth of the sunglasses market in the forthcoming years.

The global sunglasses market is forecasted to grow at a CAGR of 4.2% during the forecasted period 2019 to 2027. There is a lot of scope for growth of the sunglasses market especially in the emerging markets such as Asia-Pacific and LAMEA regions. Growing population along with the growing vision related issues in these regions will propel the growth of the sunglasses market.

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The players operating in the global sunglasses market have adopted various developmental strategies to expand their market share and increase profitability in the market. The key players profiled in this report include EssilorLuxottica SA, Safilo Group SpA, Fielmann AG, Marcolin Eyewear, De Rigo Vision Spa, Stylrite Optical Industries, Eyevan Inc., Loch, Randolph, and Eugenia Eyewear.

According to the sunglasses market analysis, the sunglasses market is segmented into type, design, frame material, distribution channel, and region. On the basis of type, the market is categorized into polarized and non-polarized. By design, it is segregated into aviator/pilot, rectangle, square, oval, cat eye, and others. On the basis of frame design, it is segmented into acetate, metal, injected, and others. Based on the distribution channel, it is segmented into supermarkets/hypermarkets, specialty stores, convenience stores, and online sales channel. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Italy, Germany, Netherlands, Switzerland, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa)

The base year calculated in the sunglasses market report is 2019 because 2020 cannot be taken as the base year for forecasting due to the outbreak of the COVID 19 pandemic. In 2020 majority of the industries suffered massive losses due to lockdown. This year is an exception. So 2019 has been considered as the base year.

One of the major trends prevailing in the sunglasses market is the digitization. More emphasis has been given by the major players on the development of their digital presence. So going digital for buying and selling of sunglasses will positively impact the sunglasses market in the upcoming years.

Based on type, the non-polarized sunglasses market holds the highest share in the sunglasses market in 2019. Based on frame material, injected segment dominates the market. On the basis of distribution channel, specialty store segment holds the highest share. Region wise, the North America is the leading market followed by Europe and Asia-Pacific.

The key factors affecting the global sunglasses market are rising consumer spending on health related products, growing awareness regarding the vision care, growth of e-commerce, celebrity endorsements, promotion of sunglasses on social medias, growing young population and demand for luxury & fashion accessory.

The outbreak of the COVID 19 pandemic had a negative impact on the sunglasses market. The distribution channels and raw material market, and the overall supply chains were massively disrupted due to the COVID 19 pandemic resulting in massive downfall in the revenues of the key market players operating in the sunglasses market.

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Sunglasses Market

Global Opportunity Analysis and Industry Forecast 2021-2027