Healthcare segment to boost plano sunglasses market

6:56 AM, 11th January 2021
Global plano sunglasses market share is slated to grow at a rapid pace over the forthcoming years, driven by the mounting purchasing power and high eye safety awareness across the globe.

Global plano sunglasses market share is slated to grow at a rapid pace over the forthcoming years, driven by the mounting purchasing power and high eye safety awareness across the globe. Likewise, presence of customers who are conscious about the product quality and aesthetic appeal will further push the demand for plano lens sunglasses.

In the wake of the COVID-19 pandemic, governments across the globe are focusing on consistently delivering PPE (personal protective equipment) to the healthcare professionals and other frontline workers.

For example, in May 2020, Ratna Nidhi Charitable Trust, India Vision Institute, the Nayonika Eye Care Charitable Trust and Essilor Vision Foundation (EVF) India made a collaborative effort. This initiative was aimed at supporting the public and governments in Tamil Nadu, Maharashtra and Karnataka during the pandemic by distributing PPEs such as shields, face masks, surgical gloves, and plano glasses.

As per Global Market Insights Inc estimates, the global plano sunglasses market size is expected to reach $26.46 billion in revenue by 2024.

Changing lifestyles & rapid urbanization in developing countries

In the current scenario, retail outlets are the most common distribution channel. However, in the Asia Pacific region, the retail sector is highly fragmented, with independent practitioners and standalone outlets constituting a high share. Furthermore, market players are focusing on joint ventures and partnerships with an aim to enhance the brand establishment as well as drive the geographical expansion.

These factors, alongside lifestyle changes in the developing economies due to rapid urbanization, will further make significant contributions to the global plano sunglasses market trends in the foreseeable future.

High impact resistance of polarized plano glasses

With regards to product, the polarized segment accounted for over 20 percent of the volume share in 2015 and is projected to hold more than 35 percent share in 2024. The segmental growth can be credited to the high functionality and impact resistance of this product.

In 2015, the shipments of the plano sunglasses across the globe were registered at over 300 million units. The market is further projected to depict a CAGR of 4.6 percent through 2024, owing to the rising adoption of vision correction surgeries like LASIK as well as the contact lenses industry expansion worldwide.

The key industry insights are spread across 250 pages with 304 market data tables, 12 figures & charts from the report, “Plano Sunglasses market size by product (polarized, non-polarized), by material (CR-39, polycarbonate, polyurethane, trivex, glass), by distribution channel (optical stores, independent brand showrooms, online stores, retail stores) industry analysis report, regional outlook, application potential, price trend, competitive market share & forecast 2017 – 2024,” in detail along with the table of contents: https://www.gminsights.com/request-sample/detail/511

Unorganized plano glasses sector in APAC

Sport products are usually equipped with impact-resistant materials to ensure maximum safety. In contrast, the products designed for aesthetic purposes or casual wear do not need the same degree of strength as well as use materials of low resilience.

Increasing number of elderly populations, along with the strong demand for spectacles, is likely to pose key challenges to the growth of the plano sunglasses industry over the estimated timeline. Industry players have also been facing immense pressure due to the unorganized sector, particularly in the APAC region. Moreover, steady prescription product adoption has led to reduced replacement rate.

High retail prices in Europe to add considerable impetus

From a regional perspective, the Europe plano sunglasses market held a share of around 40 percent and is set to record remuneration worth $10 billion by 2024. The regional industry is characterized by its high retail prices. Furthermore, enhanced coating applied on the final plano lenses will drive the regional industry expansion in years to come.

The competitive landscape of the plano sunglasses industry comprises of companies such as Safilo, Luxottica, Marcolin, Marchon Eyewear and De Rigo, among others. These key players are focusing on increasing their global presence by incorporating strategies like M&A and business expansions.

For instance, in December 2020, EssilorLuxottica launched a fund of 100 million euros to support employees amid the ongoing pandemic. The company also introduced various emergency pay schemes to cater to the needs of the vulnerable employees.

© Worldofchemicals News

Contact Info:

Arun Hegde
Corporate Sales, USA
Global Market Insights Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Website: https://www.gminsights.com

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