Europe Plano Sunglasses Market to witness substantial growth over 2016-2023, nonpolarized glasses to dominate the product landscape
Europe Plano Sunglasses Market size, by material, 2012-2023 (USD Million)
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 the three 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. Polycarbonate plano sunglasses market will also experience steady growth at an estimated CAGR of 8% over 2016-2023. In comparison to these two, proprietary materials such as polyamide and glass will witness a downturn in the years ahead in terms of growth perspective.
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Polarization technology is gearing up at a fast pace in the aesthetic eyewear market, owing to its benefits such as reduced glare. Although majority of the consumers use polarized sunglasses due to their fashion quotient, yet in some targeted usage such as cycling it is the most relevant choice. Global polarized plano sunglasses market is anticipated to cover 35% of the overall volume by 2023, with a sharp annual growth 8.2% over 2016-2023. However, nonpolarized plano sunglasses share will continue to dominate the overall industry by accounting for almost 60% of the overall market over the forecast span. Comparatively lower cost than their counterparts gives them a competitive edge in the business landscape.
North America and Europe are the two main geographies that cover 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 and the widespread awareness among the common folks regarding eye protection. Concentration of leading competitors along with high price trends in this region is boosting the regional growth of plano sunglasses market. Europe plano sunglasses market almost accounted for 40% of the overall revenue in 2015, and is anticipated to record USD 10 billion by the end of 2023.
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 :Satarupa De