The global plano sunglasses market is expected to reach USD 19,944.3 million by 2020, according to a new research report by Grand View Research, Inc. High-end products which are sold at premium prices are expected to contribute to industry growth. Grand View Research also observes that growing awareness regarding the importance of protecting the eyes from harmful UV radiation is expected to be a key driving force for the market.
Polarized sunglasses accounted for just over 20% of the overall shipments in 2012; the segment is expected to gain market share over the forecast period. In terms of lens material, CR-39 is expected to continue leading the market over the next few years. Polycarbonate is also expected to witness growing demand, and the market for sunglasses with these lenses is expected to grow at a CAGR of 8.2% from 2013 to 2020. Usage of Rx sunglasses and sunglass clips by a large percentage of the population to serve the purpose of vision correction is expected to be a restraint for the market on a global scale.
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Further key findings from the study suggest:
The global market for plano sunglasses was estimated to be USD 10,828.0 million in 2012, and is expected to grow at a CAGR of 8.0% from 2013 to 2020
In terms of volume, plano sunglasses shipments are expected to reach 394.8 million units by 2020
North America is expected to dominate consumption through the forecast period. The market in Europe is expected to generate the highest revenue despite lower shipments on account of high selling prices of plano sunglasses in the region. It is expected to be valued at USD 7,051.5 million in 2020.
Asia Pacific is expected to be the fastest growing regional market in the coming years, which can be attributed to the increasing user base and dense population. Growth in purchasing power and disposable income are expected to help the market grow at a CAGR of 10.1% in terms of revenue from 2013 to 2020.
The global market is consolidated in nature, and key participants Luxottica Group S.p.A. and Safilo Group S.p.A. have been entering into merger and acquisition activities to gain market share and expand their brand portfolio. Establishment of an efficient distribution network is of the utmost importance in order to ensure strategic advantage and remain competitive. Other companies operating in the market include Marchon Eyewear, Marcolin Eyewear, De Rigo S.p.A., Charmant Group, etc.
Grand View Research has segmented the global plano sunglasses market on the basis of lens type, lens material and region:
Plano Sunglasses Lens Outlook
Plano Sunglasses Lens Material Outlook
Others (Glass, Nylon, etc.)
Plano Sunglasses Regional Outlook
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