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The key highlights of the report include:
Market Overview (2016-2026)
- Historical Market Size (2020): USD 8.76 Billion
- Forecast CAGR (2021-2026):55% (Global Sports Eyewear Industry)
One of the primary factors driving the market's growth is rising engagement in sports-related activities around the world. Consumer acceptance towards various types of eyewear, which is inclusive of sports eyewear, is fuelling the growth of the market. Consumers are rapidly embracing physically active lifestyles that include sports and other recreational activities in order to reduce the chance of developing chronic diseases as a result of rising health consciousness. The market is growing as people become more aware of the importance of being safe when participating in outdoor sports. Sport products have witnessed an increasing adoption rate over the previous few years based on variables such as knowledge of physical fitness, adventure experiences, skills, and ability growth. The increased participation in sporting operations such as running, cycling, mountain biking, hiking, skiing, and backpacking has resulted in an increase in demand for recreational clothing and facilities, thereby facilitating the development of the sports sunglasses industry.
Industry Definition and Major Segments
Sports sunglasses are customised protective eyewear for outdoor sports that improve visibility and comfort. They reduce the amount of time that the eyes are exposed to bright, high-energy sunshine in order to avoid eye pain or injury. The lenses are made of glass or plastic and are coated with ultraviolet (UV) ray blockers and impact-resistant coatings to minimise glare and improve contrast, allowing for better visibility in the field. They come in polarised and non-polarised versions, as well as tinted and non-tinted lenses, and are suited for everyday use.
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The industry can be broadly categorised as:
The industry can be differentiated on the basis of its distribution channels into:
The application sectors of the market includes:
- Outdoor Sporting and Travelling
- Water Sports
- Ski Sports
On the basis of region, the industry is divided into:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Hydrophobic and scratch-resistant coatings on sports sunglasses protect the lenses from impacts and repel liquids. Several product improvements, such as the introduction of shatter-resistant and lightweight polycarbonate and nylon-based variants, are driving expansion. These new variations give the wearer more comfort, protection, and covering. There is an increase in the number of sports stores owing to a surge in the trend of sports apparel and equipment. The proliferation of online shopping platforms, and rising collaborations with sports celebrities to attract a broader consumer base, are also boosting market growth. Other factors, including rising disposable income of the consumers, along with the increasing preference for premium-quality, branded sportswear, and increase in government investment in sports like Olympics, Cricket World Cups, FIFA, and others, are anticipated to drive the market toward growth.
Key Market Players
The major players in the market are Luxottica Group SpA, Nike, Inc., Adidas AG, Carl Zeiss AG, Decathlon S.A., and Zoggs International Ltd, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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