Market Synopsis

Sunglasses are one of the types of protective eyewear products designed mainly for the function of protecting the eye and vision from sunlight and other visible light that is in the higher energy range. The existence of spectacles or glasses with colored, polarized, or darkened lenses allows them to occasionally serve as a visual aid as well. They also went by the name “sun cheaters” in the early 20th century. The three vital components of the sunglasses comprise the lens that helps capture the vision, the frame that holds the lenses, and the temple that part which holds the frame & lenses which provide support extending over the ears. The frame further uses a bridge to connect the two sides, a nose pad that acts as a cushion, and a hinge. The other part of the hinge is located on the temples, and it is screwed, glued, or heated to the frame. A finished pair is manufactured by independently fabricating each component before being put together.

According to the MRFR analysis, the global sunglasses market size is projected to reach USD 66,853.34 million by 2030 at a CAGR of 6.14%.

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The first sunglasses were invented by James Ayscough that were fitted with blue or green lenses. These sunglasses used the same optics found in microscopes to fix visual impairments related to color blindness and depth perception. Sunglasses are a type of eyewear used to shield the eyes from too much sunshine. Since eyes are so sensitive to light, overexposure to radiation in the visible and nonvisible spectra can quickly cause damage. Long hours of exposure to bright sunlight rays impact eye health and also cause headaches, and pain, and sometimes result in permanent cornea damage. A momentary loss of eyesight from excessive sun exposure is known as snow blindness or welders’ flash. Cataract development and a loss of night vision are long-term impacts. UV light, which essentially burns the cornea’s surface in both instances, is to blame for the harm.

Moreover, the growing popularity of sunglasses among the population coupled with the increasing awareness regarding eye care and increasing sales is likely to boost its market growth. Besides this, the recent innovations by major players operating in various regions are likely to fuel its market growth. For instance, in May 2021, Glare Guard launched a wide range of anti-sun glare products in order to protect millions of people in the U.S. as well as other parts of the world to protect their eyes from harmful ultraviolet rays of the sun.

The whole supply chain has been severely affected owing to the covid-19 pandemic as most of the sunglasses manufacturers were from China. For instance, according to MRFR analysis, the majority of sunglasses producers in the world are located in China, where there are more than 6,000 sunglasses manufacturers. 

Competitive Landscape

The key players operating in the global sunglasses market include EssilorLuxottica (France), Safilo Group S.P.A (Italy), LVMH (France), Fielmann AG (Germany), Marcolin SPA (Italy), De Rigo SPA (Italy), NIKE, Inc. (US), Adidas (Germany), Decathlon (France), and Under Armour, Inc. (US), are dominating the market 

constant product innovation and launches that are inline with the increasing demand in the global market along with strategic merger and acquisitions with eyewear manufacturers that have a presence in developing markets and has a stronghold in the e-commerce sales channel. Further, in order to acquire a strong customer base in the global market, key manufacturers are expected to increase their investments in research & development and innovate their distribution strategies.

Segmentation

By Product Type

• Polarized: Polarized lenses are laminated with tiny vertical stripes that allow vertically angled light to enter the wearer’s eyes. This lens helps in eliminating glare and improves vision and provides safety from the sun. These lenses are also known as anti-glare. These lenses have some special chemicals applied to them to filter the light and the chemical molecules are lined up specifically to block some of the light from passing through the lens. Some of the specific situations in which these sunglasses can be used are fishing, boating, golfing, snowy environments, and much more. These glasses are available in all types, materials, coating, and designs, such as polarized varifocal lenses, or polarized high-index lenses, and can be added to any frame such as rimless glasses. These lenses can be made in any color, like grey, brown, green, and other colors
• Non-Polarized: Non-Polarized provide protection from light but do not have a filter built in the block out horizontal light rays as polarized lenses have and do not have the same protective film to reduce the glare. The non-polarized also have somewhat the same functions similar to polarized sunglasses, but aside also have some limitations. These lenses protect from the sun’s radiations and reduce the brightness, but they also give a dark effect to the image. The non-polarized sunglasses are designed and developed to filter out the light due to which the image looks darker.

By Category

• Sports: Sports sunglasses are important as they have numerous benefits that are offered to the consumers, including protecting from UV rays, improving vision, and for better overall experience. Sports sunglasses are very useful for athletes who may come in contact with harmful substances or any substance that can get while performing. These glasses help in improving the game performance, whether it’s basketball, football, or baseball, the right pair will reduce glare and increase the contrast to you can see the ball. They also help in enhancing visual clarity, the lenses of these glasses are designed to reduce the glare from the sun and water so you can see things.
• Multifunctional: Sunglasses come in various shapes, materials, and lenses, such as classic, aviator, round, square, cat-eye, and wrap-around sunglasses more styles like pilot, oval, hexagonal, butterfly, and club master sunglasses, when it comes to choosing than it is limitless. The most important benefits of multifunctional sunglasses are they protect the eyes from ultraviolet lights, which are very harmful eyelid, cornea, lens, and retina. There are three types of sunglasses, that is sun-shading sunglasses, light-colored sunglasses, and special-purpose sunglasses. These sunglasses are available in various materials also like metal, plastic, wood, and rubber. The adoption of sunglasses by consumers has increased due to this factor, which is further driving the market.

By Gender

• Men: The changing lifestyles of consumers have increased the demand for luxury brands clothing, accessories, and many more which in turn has increased the demand for luxury sunglasses also. Hence, the presence of major players providing a wide range of branded sunglasses is set to positively influence its market growth. For instance, the Collective is a unique, ultra-premium retail concept renowned for its variety of high-end clothing and sunglasses. With more than 100 of the top fashion labels in the world housed under one roof, this distinctive lifestyle shop presents all connoisseurs with a distinctive perspective on each person’s specific sense of style.

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