LONDON--(BUSINESS WIRE)--Nov 27, 2017--The latest market research report by Technavio on the global sunglasses market predicts a CAGR of over 6% during the period 2017-2021.

This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171127005837/en/

Technavio has published a new market research report on the global sunglasses market from 2017-2021. (Graphic: Business Wire)

The report segments the global sunglasses market by lens material (polycarbonate lens material and ADC/CR- 39 lens material), by product (polarized sunglasses, non-polarized sunglasses), by gender (sunglasses for men and sunglasses for women) by distribution channel (specialty store, department stores, optical stores, and online retail) and by geography (the Americas, EMEA, and APAC). It provides a detailed illustration of the major factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.

Here are some key findings of the global sunglasses market, according to Technavio consumer and retail researchers:

  • Premiumization of sunglasses: a major market driver
  • In 2016, the polarized sunglasses segment dominated the market with a share of more than 73%
  • The Americas dominated the global sunglasses market with more than 40% share in 2016
  • LUXOTTICA GROUP, Safilo Group, Essilor, LVMH, and MAUI JIM are the leading players in the market

This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing

Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free.

Premiumization of sunglasses: a major market driver

Premiumization of sunglasses is one of the major factors driving the global sunglasses market. Technology advances and innovation that are being introduced in the sunglasses market are crucial factors driving the growth of the market. The manufacturers in the industry are trying to enhance the quality and features of their products to attract brand-conscious customers and offer them a high return on investment (ROI).

According to Shikha Kaushik, a lead analyst at Technavio for retail goods and services research, “The health-awareness of consumers, especially on vision care, is driving the demand for premium sunglasses, which protect customers from the harmful effects of UVA and UVB rays. Premium range of sunglasses are also durable, have high glass quality, and effectively block harmful UV rays. HNWI customers prefer these products as they are considered status symbols. Therefore, luxury or premium brands can provide a huge competitive advantage to the manufacturers.”

Looking for more information on this market? Request a free sample report

Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.

Americas: largest sunglasses market

Technavio researchers anticipate high growth for the global sunglasses market in the Americas due to the high purchasing power of the consumers in the region, awareness of the benefits of using sunglasses, and the presence of the major key vendors, especially in North American countries. Some of the major factors contributing to the growth of the sunglasses market in this region are increasing a number of high-net-worth-individuals (HNWIs) and ultra-high-net-worth-individuals (UHNWIs) and rising urbanization. The rising urbanization in the region has also raised the number of dual-income households, which facilitates spend on premium goods.

Competitive vendor landscape

The global sunglasses market is fragmented due to the presence of many competitors both at the regional and international level. The market is expected to rise in terms of value and volume during the forecast period. Manufacturers in the eyeglass industry are competing based on product price, design, quality, and brand presence. The acquisition of new, emerging, or regional brands by the leading competitors can help them maintain their dominance in the market during the forecast period. Different manufacturers in the market have incorporated diverse omnichannel marketing strategies in their business model to compete with brick-and-mortar retailers and e-retailers.

Get a sample copy of the global sunglasses market report free of cost

Access Technavio’s continuously growing retail goods and services research library and find expert analysis on hundreds of markets.

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at media@technavio.com.

View source version on businesswire.com:http://www.businesswire.com/news/home/20171127005837/en/

CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

www.technavio.com

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA

INDUSTRY KEYWORD: RETAIL OTHER RETAIL

SOURCE: Technavio Research

Copyright Business Wire 2017.

PUB: 11/27/2017 04:23 PM/DISC: 11/27/2017 04:23 PM

http://www.businesswire.com/news/home/20171127005837/en