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Sports Eyewear market Overview
The global sports eyewear market size was valued at $5.7 billion in 2019, is projected to reach $8.9 billion by 2027, growing at a CAGR of 7.3% from 2021-2027.
The women segment is expected to be the fastest-growing segment in the global sports eyewear market during the forecast period.” - Roshan DeshmukhWILMINGTON, NEW CASTLE, DE, UNITED STATES, September 18, 2024 /EINPresswire / -- According to a new report published by Allied Market Research, titled,“Sports Eyewear Market Size, Share, Competitive Landscape and Trend Analysis Report, by Product Type, by End User, by Mode of Sale : Global Opportunity Analysis and Industry Forecast, 2021-2027." The research report offers quantitative and qualitative analyses of the overall market environment, focusing on key investment opportunities, top market segments, value chain analysis, market dynamics, regional outlook, and the competitive landscape.
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Sports eyewear is made to protect the eyes and improve performance when engaging in physical activity. This specialist eyewear has strong frames, and lenses that can withstand impact, and frequently include technology that reduces glare and enhances vision. These eyewear solutions provide active people with both style and utility, whether they are being used for cycling, skiing, or other sports. The rise in awareness of eye protection is driving the growth of the market. However, the market for sports eyewear is significantly constrained by customization challenges. On the other hand, the growth in technological advancements is creating lucrative opportunities for the growth of the global sports eyewear market.
E-commerce has changed the distribution channels by providing a quick and simple option for users to browse and purchase sports eyeglasses. As the global population becomes more health-conscious and engages in sports and outdoor activities, the sports eyewear market is projected to witness growth due to its harmonious blend of performance, style, and technological innovation.
The sports eyewear market is analyzed on the basis of product type, end user, mode of sale, and region.
By product type, the market is divided into prescription glasses, sunglasses, and contact lenses. The sunglasses segment occupied the major sports eyewear market share in 2019 and is projected to maintain its dominance during the sports eyewear market forecast period. The segment is expanding as a result of rising consumer awareness of UV protection, fashion-conscious customers looking for stylish designs, and an increasing focus on outdoor activities. Performance and appeal are improved by advanced lens technologies such as photochromic characteristics and polarization. Collaborations and athlete endorsements with fashion labels increase market awareness even further. Key sports eyewear market growth factors include an increase in fitness-conscious lives and an increase in sports involvement globally. The sports eyewear market for sunglasses is anticipated to continue growing as customers place a premium on eye safety and fashion.
By end user, the market is segmented into men and women. The men segment is anticipated to grow at a moderate rate during the forecast period. Demand for sports eyewear is driven by a growing emphasis on outdoor activities and fitness, as well as a growing awareness of the need for eye protection in sports. Consumers who are concerned about their health are drawn to advances in lens technology, such as polarization and UV protection. Additionally, market expansion is aided by the growing popularity of specialized sports. Manufacturers are innovating to fulfill the changing demands of men who emphasize both performance and aesthetics in sports eyewear, which is encouraging the expansion of the market.
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Depending on the mode of sale, it is classified into retail stores and online stores. The online stores segment is anticipated to grow at the highest CAGR during the forecast period. The incorporation of innovative lens technologies, lightweight frames, and customizable solutions are important developments. Online retailers are experiencing growth due to elements including virtual try-on functionality, convenience of browsing, and decision-helping user feedback. Global reach also helps e-commerce platforms reach a wider audience. More exposure and revenues are also a result of marketing tactics such as influencer partnerships and focused internet advertising. The market is continuing to grow as a result of consumers' desire for smooth online purchasing experiences.
By region, North America held the highest market share in terms of revenue in 2019 and is projected to dominate the market during the forecast period. The sports eyewear market in North America is expected to develop by providing a blend of performance, style, and eye protection. In addition, Asia-Pacific is expected to witness the fastest CAGR of 9.2% from 2019 to 2027. The sports eyewear market in Asia-Pacific is expected to increase steadily over the next several years as a result of the population's continued participation in a wide variety of outdoor activities and sports.
The major players analyzed for the global sports eyewear industry are Puma SE, Nike, Inc., Under Armour, Inc., Adidas AG, Titan Company Limited, Liberty Sport, Inc., Safilo S.p.A., EssilorLuxottica S.A., Yiwu Conchen Glasses Co., Ltd, and Decathlon SA. These companies constantly develop innovative technologies, including adjustable features, lightweight materials, and polarized glasses.
The market environment is becoming increasingly competitive due to the emergence of specialized brands such as Under Armour. Brand uniqueness is influenced by elements such as relationships with sports organizations, design aesthetics, and brand endorsements. Due to the market's vitality, companies must remain ahead of the curve by fusing innovative technology and style to satisfy the changing needs of athletes.
Key Benefits For Stakeholders:
○ This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the sports eyewear market analysis from 2019 to 2027 to identify the prevailing sports eyewear market opportunities.
○ The market research is offered along with information related to key drivers, restraints, and opportunities.
○ Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
○ In-depth analysis of the sports eyewear market segmentation assists to determine the prevailing market opportunities.
○ Major countries in each region are mapped according to their revenue contribution to the global market.
○ Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
○ The report includes the analysis of the regional as well as global sports eyewear market trends, key players, market segments, application areas, and market growth strategies.
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