Market Size of Sunglasses Industry
| Study Period | 2019-2029 |
| Market Size (2024) | USD 23.32 Billion |
| Market Size (2029) | USD 32.20 Billion |
| CAGR (2024 - 2029) | 6.66 % |
| Fastest Growing Market | South America |
| Largest Market | North America |
| Market Concentration | High |
Major Players.webp){kind=logo}
*Disclaimer: Major Players sorted in no particular order |
Sunglasses Market Analysis
The Sunglasses Market size is estimated at USD 23.32 billion in 2024, and is expected to reach USD 32.20 billion by 2029, growing at a CAGR of 6.66% during the forecast period (2024-2029).
Around 20% of cataract occurrences are brought on by UV exposure. In January 2023, according to the National Eye Institute, doctors and researchers discovered that certain factors, including excessive sun exposure, particularly without sunglasses, accelerate the formation of cataracts. Therefore, there is a rise in the demand for sunglasses to block 99% to 100% of UVA and UVB rays and shield the eyes from the sunlight. Moreover, sunglasses offer proper functionality in addition to style and a fashionable appearance. As a result, stylish sunglasses are gaining traction among fashion-conscious consumers, especially young individuals. Besides this, due to increasing involvement in sports, tourism, and recreational activities, there is a rise in the demand for sports sunglasses explicitly designed for use during physical activities, outdoor games, and sports. Furthermore, with rising disposable income, consumers are seeking branded, well-designed, and quality products. Also, manufacturers are introducing sunglasses in various forms, hues, and shapes to meet consumer preferences. For instance, in 2023, Marcolin launched its new Swarovski Macro Pavé collection in selected global travel retail stores. The company stated that the sunglasses feature large precision-cut Swarovski crystals in an oversized pavé shape. The octagon sunglasses are crafted from premium acetate and available in classic black, Havana brown, and milky white.
Sunglasses Industry Segmentation
Sunglasses are a form of protective eyewear designed primarily to prevent UV rays and high-energy visible light from damaging or discomforting the eyes. The global sunglasses market is segmented by product type, end-user, distribution channel, and geography. By product type, the market is segmented into polarized and non-polarized types. By end-user, the market is segmented into men, women, and unisex. The distribution channel is categorized into offline retail stores and online retail stores. By geography, the market is segmented into North America, Europe, Asia-Pacific, South America, and the Middle East and Africa. The market sizing has been done in value terms in USD for all the abovementioned segments. Source:
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| Polarized | |
| Non-polarized |
| End User | |
| Men | |
| Women | |
| Unisex |
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| Offline Retail Stores | |
| Online Retail Stores |
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Sunglasses Market Size Summary
The sunglasses market is poised for significant growth, driven by increasing consumer awareness of UV protection and the rising demand for stylish and functional eyewear. The market is characterized by a blend of fashion and functionality, with consumers seeking sunglasses that not only protect against harmful UV rays but also enhance their personal style. This demand is further fueled by the growing participation in outdoor activities, sports, and tourism, where sunglasses play a crucial role in providing comfort and protection. The market is witnessing a surge in the introduction of innovative designs and collaborations with fashion brands, catering to a diverse range of consumer preferences. As disposable incomes rise, there is a notable shift towards branded and high-quality sunglasses, with manufacturers offering a variety of styles, colors, and shapes to meet these demands.
The competitive landscape of the sunglasses market is dominated by major global players such as Essilor Luxottica, Safilo Group SpA, LVMH, VSP Global, and Kering SA, who are actively engaging in strategic initiatives like product launches, mergers, and partnerships to strengthen their market presence. The North American market, in particular, is experiencing heightened demand due to increased consumer awareness of UV protection and a large base of sports enthusiasts. The market's growth is supported by the expansion of product portfolios and the exploration of emerging markets, as companies aim to align with the latest consumer trends and preferences. The ongoing collaborations and licensing agreements among key players further underscore the dynamic nature of the market, as they seek to leverage brand awareness and distribution networks across regions.
Sunglasses Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.1.1 Sunglasses As A Fashion Statement
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1.1.2 Advertisement and Promotional Activities
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1.2 Market Restraints
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1.2.1 Availability of Counterfeit Products
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1.3 Porter's Five Forces Analysis
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1.3.1 Bargaining Power of Suppliers
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1.3.2 Bargaining Power of Buyers
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1.3.3 Threat of New Entrants
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1.3.4 Threat of Substitutes
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1.3.5 Competitive Rivalry within the Industry
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2. MARKET SEGMENTATION
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2.1 Product Type
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2.1.1 Polarized
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2.1.2 Non-polarized
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2.2 End User
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2.2.1 Men
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2.2.2 Women
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2.2.3 Unisex
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2.3 Distribution Channel
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2.3.1 Offline Retail Stores
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2.3.2 Online Retail Stores
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2.4 Geography
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2.4.1 North America
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2.4.1.1 United States
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2.4.1.2 Canada
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2.4.1.3 Mexico
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2.4.1.4 Rest of North America
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2.4.2 Europe
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2.4.2.1 United Kingdom
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2.4.2.2 Germany
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2.4.2.3 Spain
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2.4.2.4 France
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2.4.2.5 Italy
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2.4.2.6 Russia
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2.4.2.7 Rest of Europe
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2.4.3 Asia-Pacific
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2.4.3.1 China
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2.4.3.2 Japan
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2.4.3.3 India
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2.4.3.4 Australia
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2.4.3.5 Rest of Asia-Pacific
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2.4.4 South America
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2.4.4.1 Brazil
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2.4.4.2 Argentina
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2.4.4.3 Rest of South America
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2.4.5 Middle-East and Africa
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2.4.5.1 South Africa
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2.4.5.2 United Arab Emirates
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2.4.5.3 Rest of Middle-East and Africa
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Sunglasses Market Size FAQs
How big is the Sunglasses Market?
The Sunglasses Market size is expected to reach USD 23.32 billion in 2024 and grow at a CAGR of 6.66% to reach USD 32.20 billion by 2029.
What is the current Sunglasses Market size?
In 2024, the Sunglasses Market size is expected to reach USD 23.32 billion.
