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Global Polarized Sunglasses Market 2019-2023

  • Published: Apr 2019
  • Pages: 121
  • SKU: IRTNTR31022
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The global polarized sunglasses market size will grow by USD 1.77 billion during 2019-2023. The industry research report provides a detailed analysis of the market based on material (polycarbonate, columbia resin (CR-39) or allyl diglycol carbonate (ADC), and others) and geography (APAC, Europe, MEA, North America, and South America). The report analyzes the market’s competitive landscape and offers information on several polarized sunglasses manufacturers including Essilor, KERING, LUXOTTICA GROUP, LVMH, MAUI JIM, INC., and Safilo Group S.p.A.

To identify growth opportunities, the market has been segmented into regions that are growing faster than the overall market. These regions have been pitted against regions that have a slower growth rate than the global market in 2018-2023. APAC, MEA, and South America will grow faster than the overall market. The growth of Europe and North America will be slower than the global market.

Global polarized sunglasses market is expected to witness a CAGR of 6.76% during the forecast period. Certain factors that are driving the market growth include rising product premiumization due to increased innovation and portfolio extension, need to reduce extreme brightness and distracting reflections while driving, and positioning of premium polarized sunglasses as fashion accessories.

Below are some of the key findings from the polarized sunglasses market analysis report

Polarized Sunglasses Market

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The polarized sunglasses have a high appeal among high-income consumers as it adds to their social status and fashion sense. Hence, manufacturers are focusing on the production of sunglasses with the new style, sizes, colors, designs, and aesthetic features. These factors encourage the customer to buy more sunglasses to match their apparel and latest fashion trends. Also, competitors are focusing on the design of customized sunglasses based on customer feedback. Individuals belonging to the age group of 17-35 years are the major customer base in the market. Also, the economic independence of women also contributes to the demand for premium polarized sunglasses. Hence, owing to these factors the market will grow during the forecast period.

Global polarized sunglasses industry overview

The rising product premiumization because of the increased innovation and portfolio extension is one of the primary factors driving global polarized sunglasses market growth. Customers prefer innovative products that offer exceptional performance and durability which encourages polarized sunglasses manufacturers to focus on innovations. Moreover, vendors in the industry focus on proper branding and improving the quality of their products to attract brand conscious customers. Customers are willing to pay for expensive, branded premium polarized sunglasses because of their high disposable income. Moreover, technological advancements also result in the development of premium products that eliminate reflections and glare and ensure the clarity of vision. With the wide acceptance of premium branded and technologically advanced polarized sunglasses across the globe, the market will witness considerable growth during the forecast period.

The advent of tinted polarized sunglasses is one of the key trends that will gain traction in the market. Tinted polarized sunglasses have optical advantages apart from having high fashion quotient. For instance, yellow-tinted sunglasses are best suited to use at dawn as they create good visibility even in low-light conditions. Similarly, red-tinted sunglasses are good for the cloudy weather because these lenses brighten the vision when natural light is dim. Such features of tinted polarized sunglasses induce customers preference for these glasses at a greater level, positively impacting the polarized sunglasses market growth at a CAGR of close to 7% during the forecast period.

Top companies covered in the polarized sunglasses market research report

The global polarized sunglasses market is moderately fragmented. To help clients improve their market position, the report provides an analysis of the market’s competitive landscape and offers information on the products offered by various companies. Moreover, the market research report also includes information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make most of the upcoming growth opportunities.

The report offers a detailed analysis of several polarized sunglasses companies, including:

  • Essilor
  • KERING
  • LUXOTTICA GROUP
  • LVMH
  • MAUI JIM, INC.
  • Safilo Group S.p.A.

Polarized sunglasses market segmentation based on material

  • Polycarbonate
  • CR-39 or ADC
  • Others

Polycarbonate sunglasses market segment accounted for the largest polarized sunglasses market share in 2018. Because of its durability, lightweight, and excellent resistance to UV rays, the preference for these sunglasses will increase in the coming years, and the segment will continue to dominate the market. The growth of the segment will be faster compared to other segments as they are preferred due to thin lenses and have a higher refractive index.

Polarized sunglasses market segmentation based on region

  • APAC
  • Europe
  • MEA
  • North America
  • South America

Europe accounted for the largest market share in 2018 because of the willingness of customers to spend on premium polarized sunglasses. The product launches, innovations, the emergence of new designs, and availability of the wide product range are some of the factors driving the growth of the market in the region. Though the region’s contribution to the growth of the polarized sunglasses market size will decrease, Europe will account for the largest market share throughout the forecast period.

Key highlights of the global polarized sunglasses market for the forecast years 2019-2023:

  • CAGR of the market during the forecast period 2019-2023
  • Detailed information on factors that will accelerate the growth of the polarized sunglasses market during the next five years
  • Precise estimation of the global polarized sunglasses market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the polarized sunglasses industry across APAC, Europe, MEA, North America, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on several vendors
  • Comprehensive details on factors that will challenge the growth of polarized sunglasses companies 

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PART 01: EXECUTIVE SUMMARY

PART 02: SCOPE OF THE REPORT

  • 2.1 Preface
  • 2.2 Preface
  • 2.3 Currency conversion rates for US$

PART 03: MARKET LANDSCAPE

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

PART 04: MARKET SIZING

  • Market definition
  • Market sizing 2018
  • Market size and forecast 2018-2023

PART 05: FIVE FORCES ANALYSIS

  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

PART 06: MARKET SEGMENTATION BY MATERIAL

  • Market segmentation by material
  • Comparison by material
  • Polycarbonate - Market size and forecast 2018-2023
  • CR-39 or ADC - Market size and forecast 2018-2023
  • Others - Market size and forecast 2018-2023
  • Market opportunity by material

PART 07: CUSTOMER LANDSCAPE

PART 08: GEOGRAPHIC LANDSCAPE

  • Geographic segmentation
  • Geographic comparison
  • Europe - Market size and forecast 2018-2023
  • North America - Market size and forecast 2018-2023
  • APAC - Market size and forecast 2018-2023
  • South America - Market size and forecast 2018-2023
  • MEA - Market size and forecast 2018-2023
  • Key leading countries
  • Market opportunity

PART 09: DECISION FRAMEWORK

PART 10: DRIVERS AND CHALLENGES

  • Market drivers
  • Other prominent drivers
  • Market challenges
  • Impact of drivers and challenges

PART 11: MARKET TRENDS

  • Introduction of innovative lenses and technologically advanced polarized
  • sunglasses
  • Advent of tinted polarized sunglasses
  • Increasing adoption of polarized sunglasses in developing countries

PART 12: VENDOR LANDSCAPE

  • Overview
  • Landscape disruption
  • Competitive scenario

PART 13: VENDOR ANALYSIS

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Essilor
  • KERING
  • LUXOTTICA GROUP
  • LVMH
  • MAUI JIM, INC.
  • Safilo Group S.p.A.

PART 14: APPENDIX

  • Research methodology
  • List of abbreviations

PART 15: EXPLORE TECHNAVIO

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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