Sunglass Market: Snapshot
Sunglasses are eyewear glasses which protect the eyes from the sun and its harmful radiation. They are mostly tinted in order to provide protection from the rays coming from the sun. The sunglasses are either non-polarized or polarized, and are customizable as per the buyer’s requirement. Sunglasses are polarized or non-polarized, and can be customized according to the needs of the customers. Sunglasses can also work as the spectacles by using either convex or concave lenses, according to the eye power of the person.
The global sunglasses market is segmented based on lens coatings, lens materials, region, and distribution channel. As per the lens material, the global sunglasses market is segmented into glass, plastic (ADC/CR-39), and polycarbonate. Based on lens coating, the market is classified into polarized and non-polarized. In 2015, the non-polarized segment dominated the overall market. However, the segmented is likely to witness a decline in upcoming years due to rise in popularity of polarized glasses. In fact, polarized sunglasses are foreseen to experience more significant and rapid growth within the forecast period from 2018 to 2026. This is due to its higher visibility and comfort properties. They are also helpful for the people who are sensitive to light, as it reduces the strain on the eyes, helping to see colors more clearly.
Sunglass Market: Trends and Opportunities
Sunglasses are used majorly for cosmetic purposes, coupled with enhancing the person’s appearance. This is credited to convenient facilities a buyer gets while buying the product. Online retail segmented is likely to see the quick development during forecast period due to affordable prices and plenty of choices that it gives to the customers. Likewise, the choice of trial before purchasing that is offered by online retailers is another significant reason that is driving the online retail section in the global sunglass market.
Major drivers of the global sunglass market incorporate advanced and enhanced product and services that serve particular needs of clients. This is activating market development as purchasers presently search for personalized products, which fulfil particular needs. Furthermore, innovative headways from manufacturers have helped them present sunglasses with extra usefulness which is another significant driver for the sunglass market. Creative element in sunglasses is setting off the market in a positive way.
Sunglass Market: Market Analysis
Polycarbonate material is anticipated to be the dominating segment in the market, in 2015. The segment if expected to sustain its lead during forecast period as well. This is majorly owning to its light weight, high resistance, and high durability. Moreover, owing to the rising demand for polycarbonate due to its finer quality in contrast with ADC or glass is another factor driving the demand for polycarbonate material.
Sunglass Market: Regional Outlook
Geographically, the global market for sunglasses is divided into Europe, North America, Asia Pacific, Latin America, and the Middle East and Africa. North America held the significant market share in 2015 and is anticipated to have an unfaltering development over the coming years. This is credited to the notable presence of most of the industry players and high disposable income of buyers in the region. Rise in awareness about unsafe UV beams among buyers is another significant reason that is credited to the popularity in the region.
Sunglass Market: Competitive Landscape
Some of the key players in the global sunglass market are Essilor, De Rigo Vision, Luxottica, Safilo, LVMH Moët Hennessy Louis Vuitton SE, Maui Jim, Michael Kors, Alexander McQueen, Lanvin, Fielmann, Marchon Eyewear, Revo, Pivothead, Marcolin Eyewear, Charmant, and Specsavers Optical, among others.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.