Sports Sunglasses Market is expected to reach US$ 8,115.06 million by 2030

Upsurging Participation in Sports Activities Fuels Demand for Sports Sunglasses

According to our latest market study on “Sports Sunglasses Market Forecast to 2030 – COVID-19 Impact and Global Analysis – by Type, Category, and Distribution Channel,” the sports sunglasses market size is projected to grow from US$ 5,597.08 million in 2022 to US$ 8,115.06 million by 2030; the market is expected to record a CAGR of 4.8% from 2022 to 2030. The report highlights key factors driving the market and prominent players along with their developments in the market.

According to the Sports & Fitness Industry Association (SFIA), more than 76% of population (i.e., 236.9 million people) in the US participated in at least one activity in 2022, a 9.2% increase in total participation rates from 2017 and a 1.9% increase from 2021. Also, according to Eurostat, in 2019, around 44% of the European population practiced some physical activities at least once a week.

Sports Sunglasses Market Breakdown – by Region

Additionally, a diverse range of sports and outdoor pursuits has created a demand for sports sunglasses tailored to fulfill specific needs. For instance, sunglasses designed for cycling often feature aerodynamic designs and interchangeable lenses for varying light conditions, whereas those meant for water sports may have polarized lenses to reduce glare. This customization is driven by rising requirements for specialized equipment, including sunglasses, by participants in different sports to achieve their best performance.

Moreover, the cultural shift toward a healthier and active lifestyle has increased the number of people performing sports and outdoor activities. This shift is not limited to competitive athletes but includes individuals participating in recreational sports, running, hiking, and other leisure activities. Sports sunglasses have become a fashion statement and a symbol of this active lifestyle. Consumers, both athletes and non-athletes, are inclined to invest in high-quality sports sunglasses that can protect their eyes and reflect their commitment to an active and health-conscious way of life. This combination of function and fashion boosts the demand for sports sunglasses.

Columbia Sportswear Co, EssilorLuxottica SA, Liberty Sport Inc, Under Armour Inc, Nike Inc, Rapha Racing Ltd, Puma SE, Decathlon SE, Adidas AG, and Safilo Group SpA are among the major players operating in the global sports sunglasses market. Market players are highly focused on developing high-quality and innovative product offerings to fulfill the varied requirements of their customers. Moreover, these key players are adopting strategic development initiatives to expand their market presence. Manufacturers of sports sunglasses are trying to cater to the consumers’ metropolitan ways of life and add more appealing features to their products. To cater to the increasing needs of consumers, market players are widening their product portfolios. In June 2022, Christopher Cloos, a leading player in premium eyewear, launched the Cloos-Brooksby collection of eyewear. The collection includes blue light glasses and sunglasses used for tennis sports. Thus, initiatives by key players boost the sports sunglasses market growth.

Impact of COVID-19 Pandemic on Sports Sunglasses Market

The consumer goods industry suffered severe disruptions due to interruptions in supply chains and shutdowns of production plants amid the COVID-19 pandemic. The shuttering of various banks, manufacturing plants, and factories in regions such as North America, Europe, Asia Pacific, South America, and the Middle East & Africa had further ill effects on supply chains, manufacturing, delivery schedules, and sales. Many businesses announced possible delays in product deliveries and slumps in their future sales. Thus, with suspended operations in various industries, the demand for sports sunglasses decreased during the pandemic, negatively impacting the sports sunglasses market growth.

In 2021, various economies resumed their operations as different country governments announced relaxations in the previously imposed restrictions, which, in turn, bolstered the sports sunglasses market. Moreover, manufacturers of sunglasses were permitted to operate at full capacities. This helped them in overcoming the demand and supply gaps. All these factors have been favoring the market growth in the post-pandemic recovery period.

Based on geography, the sports sunglasses market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. The Middle East & Africa market is expected to register the highest CAGR during the forecast period. The increasing awareness about the importance of sports and physical fitness among individuals and fitness enthusiasts is further driving the demand for sports sunglasses in the Middle East & Africa. Additionally, rising disposable income resulted in more spending on high-quality sports sunglasses bolsters the sports sunglasses market growth across the region.

The report includes the segmentation of the sports sunglasses market as follows:

Based on type, the sports sunglasses market is bifurcated into polarized and non-polarized. By category, the market is segmented into men, women, unisex, and kids. Based on distribution channel, the sports sunglasses market is segmented into supermarkets & hypermarkets, specialty stores, online retail, and others. By geography, the market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. The sports sunglasses market in North America is further segmented into the US, Canada, and Mexico. The European market is subsegmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. The sports sunglasses market in Asia Pacific is further segmented into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. The market in the MEA is further segmented into South Africa, Saudi Arabia, the UAE, and the Rest of MEA. The sports sunglasses market in South & Central America market is subsegmented into Brazil, Argentina, and the Rest of South & Central America.

Contact Us
 
Phone: +1-646-491-9876
Email Id: sales@theinsightpartners.com