According to a research report titled “Sunglasses Market Share, Size, Trends, Industry Analysis Report By Product; By Material ; By Channel; By Regions, Segment Forecast, 2020 - 2026”, available with Market Study Report, global sunglasses market valuation is projected to reach USD 27.72 billion by the year 2026.
 

The report leverages current and past performance to project the future growth rate of the industry. It also entails PESTLE analysis and Porter’s 5 Force Model to enable users to have a better understanding of market dynamics.
 

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As per report findings, worldwide sunglasses market is burgeoning due to growing awareness about the importance of sun-protection for the eyes. Surging prices in the high-end segments is further accelerating market revenue. Furthermore, demand for sunglasses has skyrocketed on account of increased health consciousness among the general population, higher standards of living and disposable income of the middle class, and popularity of sunglasses for aesthetic purposes.
 

Parallelly, amplified internet usage and proliferation of online retail stores are adding traction to market demand. However, growth in online purchase of sunglasses has led to lower product pricing consequently leading to lesser profit margins. Nonetheless, the report states that projected growth in sales volumes during the forecast period is expected to compensate for revenues, hence stimulating sunglasses industry outlook.
 

Product gamut of the global sunglasses market is arrayed into polarized, and non-polarized variants. Moving on to material type, CR-39, polyurethane, and polycarbonate among others are majorly utilized in the industry. Apart from this, different sales channels considered in the market report are online, and offline.
 

Based on geographical terrain, Europe is expected to have higher product pricing as compared to other regions on account of greater brand awareness and demand for sunglasses. As a result, the region is projected to garner sizeable market revenue during the forecast period. Parallelly, Japan has a prosperous online retail market for sunglasses. Other major regional contributors to the global sunglasses market are U.S., Mexico, Canada, Italy, UK, France, Germany, India, China, Middle East & Africa, Latin America, and Brazil.
 

The competitive landscape of worldwide sunglasses market is defined by companies such as De Rigo Vision S.p.A., Luxottica Group S.p.A., Capri Holdings Limited, Prada S.p.A, Safilo Group S.p.A, Fielmann AG, Marcolin S.p.A, Kering, Maui Jim, and LVMH Moët Hennessy Louis Vuitton.
 

Branded sunglass companies give franchising rights to private store owners or enterprises and charge certain franchise fees or royalties. These are high risk-high reward situations for independent retailers.
 

Manufacturers also provide prescription sunglasses across various regions in order to expand their consumer base. However, these sunglasses are not favored by customers due to doubts about their quality and sell at lower prices.