MarketResearchNest.com adds “Global Sunglasses Market 2017-2021” new report to its research database. The report spread across 113 pages with table and figures in it.
Research analysts forecast the global sunglasses market to grow at a CAGR of 6.20% during the period 2017-2021.
Sunglasses refer to eyewear designed to protect the eyes from harmful UV rays. They are essential for the protection of eyes from sun rays and dust, especially while traveling or driving. They are also used as fashion accessories. The global eyewear market is driven by the growing demand of discretionary eyewear, due to the increasing instances of eyesight disorders. People experience vision disorders due to increased usage of gadgets such as laptops, mobiles, computers, and video games. The availability of a wide variety of designs, colors, and features, along with the influence of celebrity endorsement, has raised the demand for these discretionary items in developed countries such as, the US, Germany, the UK, France, Italy, Spain, and Japan. The eyewear market in the emerging economies such as China, India, and Brazil are expected to exhibit a significant growth during the forecast period. The eyewear market in APAC is expected to grow at a fast rate due to increasing population, rising disposable income, and growing awareness of the use of different eyewear.
Covered in this report
The report covers the present scenario and the growth prospects of the global sunglasses market market for 2017-2021. To calculate the market size, the report considers the include/exclude new installations/shipments/sales/volume/value and retrofit/replacement/spares/aftermarket/services market.
Browse full table of contents and data tables at https://www.marketresearchnest.com/global-sunglasses-market-2017-2021.html
The market is divided into the following segments based on geography:
Technavio’s report, Global Sunglasses Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Technavio recognizes the following companies as the key players in the global sunglasses market LUXOTTICA GROUP, Safilo Group, Essilor, LVMH, and MAUI JIM
Other Prominent Vendors in the market are: Alexander McQueen, Fielmann, Lanvin, Michael Kors, Pivothead, REVO, Specsavers Optical, Marchon Eyewear, Marcolin Eyewear, Fastrack, Charmant, and De Rigo Vision.
Commenting on the report, an analyst from Research team said: “The latest trend gaining momentum in the market is Growing adoption of sunglasses as fashion product. Manufacturers in the sunglasses market are continuously focusing on the development of new style, shape, color, size, and structure of sunglasses. These continuous innovations and product developments have led consumers with varied options to choose from according to the need and occasion such as office wear, casual wear, party wear, and beachwear. The popularity of prescription sunglasses among consumers of the target group has increased. This is because these prescription sunglasses eliminate the need of carrying two pairs of eyewear.”
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According to the report, one of the major drivers for this market is Premiumization of sunglasses. Technology advances and innovation that are being introduced in the sunglasses market are crucial factors driving the growth of the market. The manufacturers in the industry are trying to enhance the quality and features of their products to attract brand-conscious customers and offer them a high return on investment (ROI).
Further, the report states that one of the major factors hindering the growth of this market is Growing availability of counterfeit products. The major challenge in the global sunglasses market is the easy availability of counterfeit and fake products. Some of the highly imitated brands in the sunglasses market are Ray Ban, Gucci, and JIMMY CHOO. This presence of counterfeit brands leads to fragmentation of the market, thereby leading to lack of price standardization, lower margin for branded players, disheartening the brand equity of major players operating in the market, establishment of an uneven competitive scenario, and market share erosion.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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Mr. Jeet Jain