The global plano sunglasses market has been registering a commendable growth rate owing to the rise in demand for UV absorption eyewear to prevent eye-related diseases such as macular degeneration. The increasing prevalence of such eye-related ailments along with rising brand consciousness is providing a significant impetus to the product demand. According to the estimates published by the World Health Organization, age-related macular degeneration (AMD) ranks third as a primary cause of visual impairment after cataract and glaucoma worldwide. Additionally, it has a blindness prevalence of more than 8 percent and is one of the leading causes of blindness in the industrialized nations.
U.S. Plano Sunglasses Market Size, By Product, 2016 & 2024 (USD Million)
Unveiling plano sunglasses industry trends through a regional frame of reference:
The primary cause for the overwhelming popularity of the plano sunglasses in the North American nations is the rising number of people who wear contact lenses. According to some reliable estimates, more than 30 million residents of the United States wear contact lenses. In this regard, it is quite imperative to mention that plano sunglasses are the most preferred products used by people wearing contact lenses to safeguard their eyes from windblown debris and drying out when outdoors.
Owing to rapidly increasing consumer awareness about the adverse effects of UV radiation, the growth prospects of North America plano sunglasses market share has been progressing at a commendable pace in the past few years. In fact, as per a research report compiled by Global Market Insights, Inc., the overall North America plano sunglasses industry registered a total sales figure of more than 95 million units in the year 2016.
The easy availability of high-end brands along with drastic changes being observed in the recent fashion trends has propelled the Europe plano sunglasses industry in the past few years. In this regard, it would be prudent to mention that the demand for customized and premium colored sunglasses has witnessed a drastic increase as these are increasingly being preferred by most customers in the recent times. Moreover, the e-commerce sector in the region has been progressing at an exceptional pace, registering online sales of goods and services equaling USD 592.93 billion in 2016, as per trusted sources.
Considering these humongous statistics of the recent years, it is quite a given that the growth of e-commerce sector would invariably benefit the companies partaking in the Europe plano sunglasses industry which is estimated to exceed a remuneration scale of USD 11 billion by the end of 2024. Of late, the major countries to have contributed immensely to the Europe plano sunglasses market include Germany and the United Kingdom.
The rising influence of western culture and lifestyle along with increasing concentration of leading international brands along the likes of OTIS, Essilor, Grand Vision, and Luxottica has impelled the APAC plano sunglasses industry expansion in the last decade. In addition to this, higher price trends and the enormous untapped opportunities in the region have attracted other emerging plano sunglasses manufacturers who are currently finding ways to expand their distribution channel on a global scale.
With respect to the nations currently dominating the APAC plano sunglasses market, the emerging economies such as India and China accounted for more than 20 percent of the total revenue share of the industry in the year 2016. A gradual increase in disposable incomes and the prevailing economic conditions in the developing countries of the region would favorably impact the growth prospects of APAC plano sunglasses market in the upcoming years.
Driven by the increasing awareness among the masses regarding eye protection and the rising technological intervention in the global eyewear industry, the commercialization aspect of the plano sunglasses market appears highly promising. The overall plano sunglasses market is quite consolidated with the global industry being led by major eyewear manufacturers such as Vogue Eyewear, Silhouette International, FGX International, Modo Eyewear, Kenmark, De Rigo Rem, Safilo Group, Marcolin Eyewear, and Luxottica Group.