iCrowd Newswire – Jul 20, 2020
The Global Sports Sunglasses Market is estimated to grow at a CAGR of 4.7% during the forecast period 2020-2027. As per the detailed market study, the global sports sunglasses industry was valued $3.1 billion in the year 2019 and is anticipated to reach $4.4 billion by the end of the year 2027.
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Sports sunglasses are protective eyewear used to prevent from bright lights during daytime and provide safety from damaging or discomforting the eyes. These types of sunglasses are coated with ultraviolet B rays and UV blockers to protect eyes from harmful rays. These sunglasses have different design and features as compared to regular sunglasses.
The global sports sunglasses industry is driven by various growth factors such as growth in number of exclusive sports equipment outlets, rising safety concerns among sportsperson and other related customer base and increasing focus of the government has boosted the investment in the sports such as Cricket World Cups, Olympics, Formula 1 Racing, FIFA and others. Government focus has supported the domestic sports and further boost the demand of various sports accessories such as shoes, sports sunglasses, clothes and others. However, increasing penetration of counterfeit products in the market and high cost of sports sunglasses hampers the market growth over the forecast period. On the contrary, trend of wearing tinted sports sunglasses and product innovation integrated with advancement in technologies in the form of polarized sports sunglasses with photochromic lens and progressive lens to reduce harmful impact of UVA/UVB rays offer lucrative opportunities for the market players operating in the global sports sunglass marketplace.
Segmentation Overview of the Global Sports Sunglasses Market
The global sports sunglasses market is categorized on the basis of various segments such as type, gender and distributional channel. These major market segments are further categorized into sub-segments to study the market in detail.
The Type Segment of the Global Sports Sunglasses Market is Sub-Segmented into:
The Gender Segment of the Global Sports Sunglasses Market is Sub-Segmented into:
The Distribution Channel Segment of the Global Sports Sunglasses Market is Sub-Segmented into:
- Online Sales Channel
- Specialty Store
- Brand Outlets
Competitive Insights of the Global Sports Sunglasses Market
Taizhou Baiyu Eyewear Co., Ltd., Yiwu Conchen Glasses Co., Ltd., Liberty Sports, Inc., Titan Company Limited, Under Armour, Inc., Decathlon SA, Nike, Inc., PUMA SE, Luxottica and Adidas AG (Adidas) among others are some major players included in the research study of the global sports sunglasses market.
Geographical Overview of the Global Sports Sunglasses Market
The North America sports sunglasses market hold the dominant market position in the global marketplace with around 2/5th of the market share in the year 2019 and is anticipated to maintain the dominance over the forecast period. Whereas, the Asia Pacific sports sunglasses market is estimated to witness the highest market growth with a CAGR of 6.6% during the forecast period 2020-2027. The regional growth is majorly attributed to increasing penetration of global brands in developing regions such as Nike, Puma, Adidas and Decathlon among others; and increasing government focus towards sports sector.
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Keywords: Sports Sunglasses Market