Global Sports Sunglasses Market 2019-2023
Global Sports Sunglasses Market: About this market
Sports sunglasses help athletes and sportspersons enhance their visibility in bright conditions, thereby driving their performance. Technavio’s sports sunglasses market analysis considers sales from both offline and online. Our analysis also considers the sales of sports sunglasses in Europe, North America, South America, and MEA. In 2018, the offline segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as growth of online-to-offline marketing and the increasing number of specialty stores, hypermarkets and supermarkets, and departmental stores will play a significant role in the offline segment to maintain its market position. Also, our global sports sunglasses market report also looks at factors such as new product launches, increased demand for product customization, increased demand for polarized sports sunglasses. However, rising rivalry among key competitors, threat from counterfeit products, rising availability of substitute products may hamper the growth of the sports sunglasses industry over the forecast period.
Global Sports Sunglasses Market: Overview
Increased demand for product customization
In the global sports sunglasses market, there has been an increased demand for product premiumization, as key vendors are increasingly focusing on enhancing the quality of their products to execute proper branding. The premiumization of products is largely driven by the increased demand for customization in terms of lens color, type of frame used, and various other attributes of sports sunglasses. This demand for product customization will lead to the expansion of the global sports sunglasses market at a CAGR of about 4% during the forecast period.
Increase in adoption of sports sunglasses as fashion accessory
The rising demand for multipurpose fashion accessories, especially from the millennial population, has been resulting in the adoption of sports sunglasses in the market. The increased availability of various sports sunglasses in new styles, shapes, sizes, colors, and structural orientation is also driving the adoption of sports sunglasses as a major fashion accessory. Continuous product development and innovation encourage consumers to choose products, depending on the occasion and their needs, such as office wear, casual wear, party wear, and beachwear. This trend is prominent among teenagers and young adults because these sports sunglasses add to their style statement. This development is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global sports sunglasses market during the forecast period 2019-2023, click here.
With the presence of several major players, the global sports sunglasses market is fragmented. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading sports sunglasses manufacturers, that include adidas AG, Luxottica Group Spa, Nike Inc., PUMA SE, and Under Armour Inc.
Also, the sports sunglasses market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
adidas AG, Luxottica Group Spa, Nike Inc., PUMA SE, and Under Armour Inc.
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