DUBLIN--(BUSINESS WIRE)--The "Sports Sunglasses Market by Type, Gender and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2020-2027" report has been added to ResearchAndMarkets.com's offering.
According to this report the global sports sunglasses market size was valued at 3.1 billion in 2019, and is projected to reach 4.4 billion by 2027, registering a CAGR of 4.7% from 2020 to 2027.
Sports sunglasses are a protective eyewear designed to prevent from bright sunlight and high-energy sunlight from discomforting or damaging the eyes. The sports sunglasses are coated with UV blockers and ultraviolet B rays that allow prevention from harmful UV rays. Furthermore, these sunglasses are differently shaped and designed as compared to regular sunglasses so that they can provide full protection to the eyes of the players.
Moreover, government has increased investment in sports like Olympics, Formula 1 racing, Cricket World Cups, FIFA, and others. There is an increase in the motivation from the government authorities for the players to participate owing to rise in sports events being organized on domestic level. This is anticipated to surge the demand for sports accessories, such as clothes, sports sunglasses, shoes, and other equipment. However, high prices and significant popularity of sport sunglasses brands like Nike, Adidas, and Puma have led to the advent of counterfeit brands that offer low quality products. The presence of these brands often lead to inconvenience & safety issues that subsequently develop negative perceptions among customers. Online distribution channels is one of the major platforms, where transaction of counterfeited brands can be easily concealed. Thus, proliferation of the counterfeited industry is anticipated to hamper the growth of the sports sunglasses market.
Availability of polarized sports sunglasses with progressive lens and photochromic lens helps in reducing the harmful impact of UVA/UVB rays. Moreover, the lenses of polarized sports sunglasses are made by thin chemical film, which helps in eliminating the harsh light that is reflected off water or highway surfaces on sunny days. Therefore, it is used in various sports, which boosts the growth of the sports sunglasses market.
The global sports sunglasses market is segmented into type, gender, distribution channels, and region. By type, the market is bifurcated into polarized and non-polarized. By gender, it is categorized into male, female and unisex. On the basis of distribution channels, it is classified into hypermarket/supermarket, specialty stores, brand outlets, and online sales channel. Region wise, it is analyzed across North America (U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, India, South-East Asia, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the sports sunglasses market analysis from 2019 to 2027 to identify the prevailing market opportunities.
- The key countries in all the major regions are mapped on the basis of sports sunglasses market share.
- The market forecast is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the market segmentation assists to determine the prevailing market opportunities.
Key Findings Of The Study
- Based on type, the polarized segment dominates the market in 2019, and is expected to retain its dominance throughout the sports sunglasses market forecast period.
- Depending on gender, the female segment accounted for highest share in g in 2019, and is projected to grow at a CAGR of 6.1% from 2020 to 2027.
- By distribution channel, the specialty store segment was the major shareholder in 2019, and is projected to register a CAGR of 5.3% from 2020 to 2027.
- Region wise, Asia-Pacific accounted for about highest sports sunglasses market share in 2019, and is expected to grow at a CAGR of 6.6%.
- Rise in Number of Exclusive Sports Stores and Sports Equipment Outlets in the Developing Countries
- Surge in Safety Awareness During Outdoor Sports
- Increase in Living Standards and Growing Fashion Trends
- Rise in Government Investment in Sports Events
- Availability of Counterfeit Products
- Allergies Related to Sports Sunglasses
- Technological Innovation
- Rise in Trend of Wearing Tinted Sports Sunglasses
- Adidas AG (Adidas)
- PUMA SE
- Nike Inc.
- Decathlon SA
- Under Armour Inc.
- Titan Company Limited
- Liberty Sports Inc.
- Yiwu Conchen Glasses Co. Ltd.
- Taizhou Baiyu Eyewear Co. Ltd
For more information about this report visit https://www.researchandmarkets.com/r/3a9z55