U.S. plano sunglasses market to witness substantial growth over 2017-2024, nonpolarized glasses to observe commendable adoption
Plano sunglasses market has been witnessing a remarkable growth rate worldwide with the increasing technological intervention in the global eyewear industry. Growing consumer awareness pertaining to the eye health is providing a significant impetus to the product demand. Plano sunglasses are fitted with non-prescriptive lenses, that protect the eyes from harmful ultraviolet rays. The American Optometric Association in a recent study depicted that over exposure to UV rays which increase the risk of macular degeneration can be combated by sunglasses with high eye protection factor (EPF).
U.S. Plano Sunglasses Market Size, By Product, 2016 & 2024 (USD Million)
Furthermore, increasing proliferation of contact lens along with acceptance of refractive surgeries such as LASIK is also positively influencing plano sunglasses market dynamics. As per a report by Global Market Insights, Inc., plano sunglasses industry size had been pegged at USD 16 billion in 2016.
The fragmented business landscape of plano sunglasses market is quite evident from the changing materials trends that are used in the manufacturing of these glasses. Polycarbonate, polyurethane, and CR -39 are some of the materials that will experience a surging demand in the market. CR- 39 is one of the most preferred materials used in lens production. Cost affordability is the prime factor allowing better penetration of CR-39 plano glass market to a major section of the population. Polyurethene plano sunglasses market will also experience steady growth in the years ahead, having held 36 million units in terms of volume in 2016. The primary reason for the expansion of this material is the ever-rising awareness among consumers regarding their looks and style. Incidentally, polyurethane is known for offering exceptional style and a highly aesthetic look. Additionally, it also provides high impact resistance as well as suitability in extreme weather conditions, thereby driving polyurethane plano sunglasses market.
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Polarized products have lately been gaining exceptional momentum in aesthetic eyewear market, owing to its benefits such as reduced glare. Although a majority of the consumers use polarized sunglasses due to their fashion quotient, in some targeted usage such as cycling, these glasses seem to be the most relevant choice. Indeed, powered by their enhanced safety and improved vision, polarized plano sunglasses market size had been pegged at USD 10 billion in 2016.
Its counterpart, the nonpolarized plano sunglasses are also expected to accumulate considerable momentum in the years ahead. Driven by the exceptional benefits of these products, such as excellent optical features and the reduction of visible light entering the eyes, not to mention, cost-effectiveness, non-polarized plano sunglasses market share will register a CAGR of 4.5% over 2017-2024.
North America and Europe are the two main geographies that account for quite some major portion of the global plano sunglasses industry. With U.S. at the growth front, North America is anticipated to chart a profitable road map in the years ahead. The growth projection of the region can be majorly credited to the increasing accessibility of eyewear in the region, specifically in the U.S. and the widespread awareness among the masses regarding eye protection. Concentration of leading competitors along with high price trends have been expediting the U.S. plano sunglasses market. As per estimates, U.S. plano sunglasses industry will accrue USD 1.6 billion by 2024 from online stores.
Due to the enormous untapped opportunities in this market, key players are continuously trying to expand their distribution channel on a global scale. Two such big names who accounted for a significant portion of the overall plano sunglasses market share in past years are Safilo and Luxottica. Other prominent industry participants include Marcolin, Marchon Eyewear, and De Rigo.
Author Name :Saipriya Iyer