Global Sunglasses Market 2023-2030

Global Sunglasses Market 2023-2030

Global Sunglasses Market Size, Share & Trends Analysis Report by Type (Polarized and Non-Polarized), by Design (Aviator and Pilot, Rectangle, Round, Square, Oval, Cat Eye, and Others), by Frame Material (Acetate, Metal, Injected, and Others), and by Distribution Channel (Supermarket and Hypermarket, Specialty Store, Convenience Store, and Online Sales Channel) Forecast Period (2023-2030)

The global sunglasses market is expected to grow at a considerable CAGR of 4.9% during the forecast period. The market growth is attributed to the growing awareness among consumers to protect their eyes from the harmful UV rays of sun. To cater the growing demand from consumers for advanced sunglass, major market players are focusing on new sunglass launches. For instance, in June 2023, Maui Jim launched polarized sunglasses that include lenses that efficiently resist UVA, B, and C rays. In addition to offering UV protection, their proprietary lens technology reduces 99.9% of glare and 95% of damaging blue light, making them an absolute necessity for water and snow sports.

Segmental Outlook

The sunglasses market is segmented based on type, design, frame material, and distribution channel. Based on type, the market is augmented into polarized or non-polarized. Based on design, the market is augmented into aviator and pilot, rectangle, round, square, oval, cat eye, and others. By frame material, the market is augmented into acetate, metal, injected, and others. Furthermore, based on distribution channel, the market is augmented into supermarkets and hypermarkets, specialty stores, convenience stores, and online sales channels. Among the type segment the polarized sub-segment is anticipated to hold a significant market share, which is attributed to the increasing acceptance of sunglasses as fashionable accessories is projected to propel the sunglasses market. The growing popularity among consumers for efficient and high-quality products to enhance their personal appearance and elegance has increased the demand for sunglasses.

The Others Sub-Segment is Anticipated to Hold a Prominent Share of the Global Sunglasses Market

Among the type, the others sub-segment is anticipated to hold a prominent share of the market growth. The segmental growth is attributed to the increasing demand for the polarized sunglasses with a face safeguard are a popular trend in the sunglasses market. A polarized sunglasses-cum-face safeguard is a type of sunglass that comprises a polarized lens and a full-face shield. Polarized lenses are a type of lens. That filters out the light. The polarized safeguarding shield for the face possesses UV protection and covers the entire face from the eyes to the chin, and offering full protection. After the COVID-19, the change aims to establish a new fashion trend. 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.

Regional Outlook

The global sunglasses market is analyzed across key regions, including North America (the US and Canada), Europe (Italy, Spain, Germany, France, and others), Asia-Pacific (India, China, Japan, South Korea, and others), and the Rest of the World (the Middle East and Africa, and Latin America). Among these, the European region is projected to witness prominent growth in the sunglasses market, The industry continues to grow as a result of substantial developments in fashion and a significant number of brand-aware consumers.

Global Sunglasses Market Growth by Region 2023-2030

Source: OMR Analysis

The Asia-Pacific Region is Anticipated to Hold a Significant Share of the Global Sunglasses Market

In Asia-Pacific, the growth of the market is attributed to increasing demand for the import and export of sunglasses in the region. Sunglasses demand has increased according to consumers' increasing purchasing power, which has resulted in higher export and import rates. According to Volza's data on Chinese exports, 2,329 Chinese exporters shipped 1 million pairs of sunglasses to 2329 Indian buyers. China, the globe's biggest exporter of sunglasses, delivers the majority of them to India. The top 3 countries exporting sunglasses are China (1,361,345 exports), Italy (1,196,727 shipments), and India (145,865 shipments). HSN Code 90041000 is one of the top 3 product categories for sunglasses sent from China to India. Code 90031900 on HSN, 90031900. Code 90039000 on HSN, 90039000. These statistics, which are accurate through June 3, 2023, are based on Volza's China Export Data of Sunglasses, which was obtained from export-import shipments in 70 countries and includes the identities of buyers, suppliers, and senior decision-makers.

Market Players Outlook

The major companies serving the global sunglasses market Charmant USA Inc, De Rigo Vision S.P.A.,, Fosun International Ltd, Julbo Inc, Kering and others. The market players are contributing to market growth through the adoption of various strategies, including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in May 2023, Essilor Luxottica and Chalhoub Group signed a joint venture for the development of direct eyewear retail in the GCC (Gulf Cooperation Council) region. The agreement aims to shape the eyewear category and achieve new levels of customer service by combining Essilor Luxottica’s eyewear expertise, technology, and brands with Chalhoub Group’s deep understanding of the region’s consumers and delivery of unforgettable experiences.

The Report Covers

Market value data analysis of 2022 and forecast to 2030.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global sunglasses market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying ‘who-stands-where’ in the market.