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The polarized sunglasses market size is forecast to increase by USD 1.44 billion at a CAGR of 4.82% between 2023 and 2028. Our report examines historical data from 2018-2022, besides analyzing the current market scenario.
In North America, the market exhibits diverse preferences influenced by a range of climates, spanning from arctic conditions to tropical environments. States such as California and Florida, known for their sunny weather and outdoor-centric lifestyles, drive significant demand year-round, highlighting regional market dynamics and consumer preferences. These varying climates and lifestyle factors contribute to a rich tapestry of market behavior, with each region presenting unique challenges and opportunities for businesses operating in the outdoor and recreational sectors. Understanding these nuances is crucial for companies seeking to effectively cater to the diverse needs of North American consumers. Also, Charmant Inc. company offers polarized sunglasses such as Charmant ZT 11250Z Black Polarized Titanium Half Rim Sunglasses for Men Size 60 and Custom Made for Charmant XL2041 53X16 T Polarized Clip On sunglasses.
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The market thrives at the intersection of eyewear and lifestyle, with contributions from high-end designers and fashion houses like Gucci, Prada, and Chanel. Endorsements from celebrities and influencers make them a fashion essential, aligning with health recommendations from the World Health Organization (WHO) and the American Academy of Ophthalmology regarding UV radiation protection. As consumers increasingly prioritize eye health alongside style, they offer both fashion-forward designs and crucial protection against harmful UV rays, driving their popularity in the market.
Increasing awareness about the harmful effects of UV radiation on eyesight is the key factor driving the market. With mounting evidence linking UV exposure to various ocular conditions like cataracts, macular degeneration, and photokeratitis, customers are becoming increasingly conscious of the necessity for effective eye protection, thereby fueling demand that is equipped with advanced UV-blocking capabilities.
Furthermore, an increase in public health initiatives and educational campaigns spearheaded by governments, health organizations, and eyecare professionals worldwide have played a crucial role in disseminating information about UV-related eye damage. Thus, such efforts have heightened customer awareness, prompting individuals to prioritize UV protection when selecting eyewear further amplifying the demand, which further propels the market during the forecast period.
Integration of smart features is the primary trend shaping the market. Smart polarized sunglasses equipped with augmented reality (AR) displays embedded within the lenses offer users real-time access to information such as notifications, navigation directions, and weather updates, facilitating improved productivity and convenience during outdoor activities. Furthermore, the integration of fitness tracking sensors into the frames allows users to monitor health metrics like heart rate, step count, and calories burned, aligning with the growing trend towards wearable fitness technology.
Additionally, the players in the emerging market include established eyewear brands and technology companies aiming to reach the demands of modern customers. Further, with a focus on both fashion and functionality, these smart glasses set a new standard for modern eyewear. Thus, collaborations raise the demand for wearable technology solutions, which continues to raise the adoption, which, in turn, drives market growth during the forecast period.
The availability of counterfeit products is a major challenge that affects market expansion. The availability of counterfeit products threatens customer trust, brand reputation, and overall market growth. The availability of huge options of counterfeit products, often produced with inferior materials and substandard manufacturing processes, deceives customers with lower prices but compromises quality and performance. One of the primary concerns surrounding counterfeit polarized sunglasses is their inadequate UV protection.
Additionally, the proliferation of counterfeit products also undermines the competitiveness of legitimate manufacturers and retailers. Unscrupulous sellers undercut prices, eroding profit margins for authentic brands and stifling investment in research and development. Also, the prevalence of counterfeit goods diminishes customer confidence in the market, thereby impeding market expansion during the forecast period.
In the world of eyewear, polarized sunglasses stand out as a must-have fashion essential. Embraced by celebrities and influencers, they reflect the styles of high-end designers and fashion houses like Gucci, Prada, and Chanel. Beyond fashion, they also provide crucial protection against harmful UV radiation, endorsed by organizations like the World Health Organization (WHO) and the American Academy of Ophthalmology for their ability to safeguard eye health and enhance lifestyle.
The round segment is estimated to witness significant growth during the forecast years. Round and oval-shaped polarized sunglasses are popular styles in the global market, offering both fashion and functionality. Round sunglasses feature circular lenses, evoking a retro aesthetic favored by fashion-conscious consumers, while oval-shaped ones offer a classic look with slightly elongated lenses.
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The round segment was the largest segment and was valued at USD 1.73 billion in 2018. Further, both styles provide glare reduction and UV protection, suitable for various outdoor activities. Leading brands like Ray-Ban and Maui Jim offer a wide range of these sunglasses, meeting the demand for stylish and functional eyewear. The resurgence of retro fashion, celebrity endorsements, and technological advancements drive the growing interest in round and oval polarized sunglasses, fueling market growth.
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Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast years. Major brands such as EssilorLuxottica, Kering SA, and Warby Parker Inc. dominate the North American market, offering a wide variety of styles and designs to cater to different customer preferences. These brands leverage innovative lens technologies, designs, and effective marketing strategies to maintain their competitive edge.
Additionally, the growth of the regional market is driven by awareness about UV protection, the presence of a fashion-conscious population, and a strong outdoor culture. Polarized sunglasses are in high demand across the continent, which, in turn, fuels the growth of the regional market during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
De Rigo Vision Spa, Dealskart Online Services Pvt. Ltd., Decathlon SA, EssilorLuxottica, HOYA Vision Care Europe Hoya Holdings N.V, JINS Eyewear US Inc., Kering SA, Marcolin Spa, Nike Inc., Prada S.p.A, Rudy Project SpA, Safilo Group Spa, Specsavers Group, Titan Co. Ltd., Vision Service Plan, and Warby Parker Inc.
Market analysis and report of qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research and growth forecasts market growth analysis by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
In the realm of eye protection, polarized sunglasses emerge as a crucial segment, especially during Ultraviolet Awareness Month. Brands like Eastman Kodak offer sunglasses with lenses like polycarbonate and CR-39 to combat corneal sunburns and eye cancers. With advancements like AI technology and Meta Platforms, awareness spreads through social media and online channels, targeting snow sports enthusiasts and adventurers. Distribution channels encompass hypermarkets, specialty stores, and e-commerce websites, catering to women, kids, and various end-users.
Further, in the market, Prevent Blindness initiatives highlight the importance of eye protection against UV-A rays and vision impairment. Branded sunglasses with polycarbonate, CR-39 lenses, and CR-39-based sunglasses, or Trivex lenses cater to diverse needs in skiing, hiking, and more. With the rise of the selfie culture, styles, shapes, and colors in sunglasses reflect trends. Both offline channels, like supermarkets and online segments in the retail sector, offer various options at different prices to combat blindness and promote eye care.
Market Scope |
|
Report Coverage |
Details |
Page number |
159 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.82% |
Market Growth 2024-2028 |
USD 1.44 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
4.34 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 53% |
Key countries |
US, Canada, China, UK, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Adidas AG, Carl Zeiss Stiftung, Charmant Inc., De Rigo Vision Spa, Dealskart Online Services Pvt. Ltd., Decathlon SA, EssilorLuxottica, HOYA Vision Care Europe Hoya Holdings N.V, JINS Eyewear US Inc., Kering SA, Marcolin Spa, Nike Inc., Prada S.p.A, Rudy Project SpA, Safilo Group Spa, Specsavers Group, Titan Co. Ltd., Vision Service Plan, and Warby Parker Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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