Plano sunglasses market outlook: Non-polarized product to offer high growth prospects for the industry growth over 2016-2023

Publisher : Fractovia | Published Date : February 2017 | Price : $4500
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High fashion quotient and increased brand consciousness among the consumers will stimulate the plano sunglasses market. Plano sunglasses witness high demand due to rising cognizance regarding eye protection and harmful UV rays. Growing global network with increase in the distribution channels will further grow the Plano sunglasses business. According to Global Market Insights, Inc., “Plano Sunglasses Market size is anticipated to surpass USD 26 billion by 2023.” Furthermore, growing retail outlets and shipping activities across the globe will spur the plano sunglasses industry. The global shipments in 2015 were over 300 million units and is expected to grow at a rate of 4.6% from 2016-2023.
 

Prolonged exposure of eyes to solar radiation and ultraviolet rays makes them liable to cause damage to the retina and develop a cataract. In this case, the plano glasses are useful and helps in adequate protection of the eyes against the harmful radiations. Rapid urbanization and changing lifestyle will boost the plano sunglasses industry, particularly in the emerging economies. An increase in the spending capacity among the major population will drive the market. The rapid growth in plano sunglasses, which is the integral part of the Eyewear market is also worth noticing in the coming timeframe.
 

Europe Plano Sunglasses Market size, by material, 2012-2023 (USD Million)
Europe Plano Sunglasses Market size, by material, 2012-2023 (USD Million)

 

Taking into consideration the regional outlook, U.S. Plano sunglasses market is poised to witness momentous growth, owing to wider awareness towards eye protection. Increasing availability of eyewear with appealing aesthetics will widen the plano sunglasses industry space in the coming six years. Europe plano sunglasses market share accounting for 40% of the global revenue, is predicted to exceed USD 10 billion by 2023. Existence of prominent competitors and high prices will primarily drive the Europe market.
 

The major factor of differentiation in the plano sunglasses industry is its product segment which is categorized into Polarized and Non-polarized lenses. The non-polarized market segment will be leading the global shipments industry in the coming six years. Non-polarized sunglasses lenses, mainly reduce the amount of visible light, while the polarized sunglasses are widely used for improving visual insight and enhancing vision. Considering the product segmentation of the plano sunglasses, below are the highlights of product trends influencing the industry over 2016-2023.

 

            Product Type

Revenue share by 2023

Drivers

 

 

Polarized

 

 

35%

Higher price and functionality coupled with fashion quotient will drive the polarized plano sunglasses industry.

 

 

Non-polarized

 

 

60%

Low price in comparison to polarized products will mainly drive the Non-polarized plano sunglasses market.



The plano sunglasses industry is categorized by altering lens material trends. Polycarbonate, polyurethane, and CR-39 are the major materials used in the manufacturing of the plano sunglasses. CR-39 is the most extensively used materials for lens production. Its light weight and shatter resistant properties make CR-39 the apt material for large scale manufacturing industries. Moreover, the polycarbonate plano sunglasses market is anticipated to surpass USD 10 billion and register a CAGR of 8% over the period of 2016-2023. Polycarbonate possesses superior qualities in terms of UV absorption, impact resistance, light weight, and reasonable price. This makes it ideal for sports and outdoor activities, which in turn will augment the plano sunglasses industry growth over the coming years.
 

The two major industry players are Safilo and Luxottica. These two players share majority of the market share, which is attributed by implementation of vertical integration strategy and licensed brand portfolio. Other industry participants include Marcolin, De Rigo, and Marchon Eyewear.

Written By : Ojaswita Kutepatil

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