According to a report published by Grand View Research, Inc.; the global plano sunglasses market is expected to reach a valuation of around USD 19944.3 million by 2020.
Growing awareness among the individuals to protect the eyes from harmful UV radiation is anticipated to impel the market during the forecast period (2012 to 2020). Scientific research infers that the long-term exposure of eyes to ultraviolet radiations results in rising ratio of cataract and damage to the retina. In accordance to the research conducted by American Optometric Association, long term exposure to UV rays leads to the growth of several ophthalmological disorder such as macular degeneration, for which wearing sunglasses with maximum eye protection factor (EPF) can be the perfect elixir.
Increasing demand for fashionable products across the world is also considered as the major driving factor for the market growth. Various tints are incorporated to reduce the overall brightness of sunglasses. Green, brown, and gray tints are color neutrals. For color recognition, use of gray color is recommended. Other tints include rose, yellow/amber or mirrored, that refers to a reflective film applied to the outer surface of the lens.
Full Research Report On Plano Sunglasses Market Analysis:
Majority of the population getting afflicted by visual deficiencies such as myopia (nearsightedness) and hyperopia (farsightedness) has resulted into the increasing dependency on spectacles among the users. This is likely to decline the demand of plano sunglasses to an extent.
Worldwide plano sunglasses market can be segmented on the basis of lens, lens material, and region.
Based on lens, the market can be classified into polarized and non-polarized.
The polarized segment reported for around 20% of the total market size. The segment is expected to expand with an estimated CAGR of 4.6%during 2013 to 2020. Users are extensively buying these sunglasses in spite of their high selling price. However, these sunglasses are not recommended in the aviation sector. As they can affect the visibility of instruments.
As per lenses material, the market can be bifurcated into CR-39, polycarbonate, polyurethane, and others such as glass and nylon.
The consumers are more conscious about choosing high quality lenses to avoid braking or cracking. The CR-39 segment occupied for 40.8% of the total market share in 2012. The material was the most commonly utilized material due to its cost-effectiveness and durability.
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Plano sunglasses market revenue share by lens material, 2012
The polycarbonate segment is anticipated to expand at a CAGR of 2.4% during the forecast period. These sunglasses are lightweight and provides an optical clarity. But, they comprise less optical clarity and expensive as compared to other materials. Several materials such as metal, zyl, and nylon are extensively used in the production of plano sunglasses.
Geographically, the market can be divided into North America, Europe, Asia Pacific, and RoW.
Europe and North America reported for over 60% of the overall market in 2012 due to presence of key players and high purchasing power among the consumers. North America is projected to be the leading market during the forecast period.
In terms of revenue, Europe is likely to witness as a major contributor. This can be ascribed due to high selling prices of the product and demand for premium sunglasses, particularly in countries such as Spain.
Asia Pacific is projected to grow with a rapid pace in the year, with an estimated CAGR of 10.1% during 2013 to 2020. Improving disposable income as a result of rapid urbanization is the major factor driving the regional growth. But, unorganized sectors especially in emerging countries such as China and India is anticipated to hamper the revenues of participants operating in the market due to sale of knockoff products.
Some of the leading companies operating in the market include Luxottica Group S.p.A., Marchon Eyewear, Silhouette International, De Rigo S.p.A., and Safilo Group S.p.A.
Major companies in the market are following strategies such as mergers and acquisitions to gain traction in the market. Also, the companies are adopting a vertically integrated structure for manufacturing and distribution.
Grand View Research has segmented the global plano sunglasses market on the basis of lens type, lens material and region:
Plano Sunglasses Lens Outlook
Plano Sunglasses Lens Material Outlook
Others (Glass, Nylon, etc.)
Plano Sunglasses Regional Outlook
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