LONDON--(BUSINESS WIRE)--The global sports sunglasses market is expected to post a CAGR close to 4% during the period 2019-2023, according to the latest market research report by Technavio.
A key factor driving the growth of the market is the increased demand for product customization. In the global sports sunglasses market, there has been an increased demand for product premiumization. The premiumization of the products is largely driven by the increased demand for customization in terms of lens color, type of frame used, and various other attributes of sports sunglasses. For instance, vendors such as Pilla offer highly customizable sports sunglasses to their customers at a premium price. Thus, an increase in the number of vendors offering customizable sports sunglasses will drive the growth of the market during the forecast period.
As per Technavio, the increase in adoption of sports sunglasses as fashion accessory will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global sports sunglasses market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Sports Sunglasses Market: Increase in Adoption of Sports Sunglasses as a Fashion Accessory
The rising demand for multipurpose fashion accessories, especially from the millennial population has been resulting in the adoption of sports sunglasses in the market. The increased availability of sports sunglasses in new styles, shapes, sizes, colors, and structural orientation is also driving the adoption of sports sunglasses as a major fashion accessory. In addition, vendors are also see designing and manufacturing sports sunglasses for use in action sports and as casual wear. Furthermore, consumers are also largely integrating sports sunglasses with athleisure lifestyle and streetwear, thereby driving the growth of the global sports sunglasses market.
“Apart from the increase in adoption of sports sunglasses as fashion accessory, the increased demand for polarized sports sunglasses is one other factor expected to boost market growth. With a rise in the number of consumers shifting from traditional non-polarized sports sunglasses to polarized versions, the demand for polarized sports sunglasses is also increasing, thereby driving market growth,” says a senior analyst at Technavio.
Global Sports Sunglasses Market: Segmentation Analysis
This market research report segments the global sports sunglasses market by distribution channel (offline and online) and geographical regions (North America, Europe, APAC, South America, and MEA).
The North American region led the market in 2018, followed by Europe, APAC, South America, and MEA respectively. However, during the forecast period, the APAC region is expected to register the highest incremental growth due to the rising adoption of sports sunglasses as a fashion accessory in the region.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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