Sports Sunglasses Market

Market Overview

The global sports sunglasses market was valued at USD 3.53 billion in 2023. It is expected to reach USD 5.42 billion in 2032, growing at a CAGR of 4.9% over the forecast period (2024-2032). Increasing participation in sports, fitness activities, and outdoor recreational pursuits such as hiking, cycling, running, and skiing drives the demand for sports sunglasses. These activities require eye protection against UV rays, glare, wind, dust, and debris.

Sports sunglasses are protective eyewear that keeps the eyes from becoming uncomfortable or being harmed by intense sunlight. The sports sunglasses are protected from dangerous UV rays with UV blockers and ultraviolet B rays. Additionally, these sunglasses are made in a different shape and style from typical sunglasses to shield the players' eyes fully.

Additionally, the government has expanded funding for events like the Olympics, FIFA World Cups, Formula 1 racing, and Cricket World Cups. Due to the surge in domestic sporting events, government officials are more motivated than ever to encourage athletes to participate. The demand for sports accessories, including clothing, sunglasses, shoes, and other equipment, is predicted to increase.

Market Dynamics

Market Driving Factors

The Surge in Safety Awareness during Outdoor Sports

Sports sunglasses are specialized lenses composed of polycarbonate materials that are durable, sturdier, and safer for the eyes during any physical activity. Thus, these are majorly used in sports. Moreover, sports sunglasses are more impact-resistant than traditional glass lenses made up of glass or plastic, which are used in swimming, cycling, mountain biking, and others, driving the growth of the sports sunglasses market. Sports sunglasses are differently shaped and designed compared to regular sunglasses to provide complete protection to the eyes.

Increase in Living Standards and Growing Fashion Trends

Global per capita income has witnessed a robust growth rate over the past few years, particularly in emerging economies. The increase in urbanization and the growth of middle-class consumers in developing and developed markets have encouraged the adoption of convenience-oriented lifestyles. This makes sports sunglasses desirable for all age group people, especially youngsters. Moreover, the surge in the trend of sports sunglasses with retro cat-eye lenses, round and transparent lenses, sunglasses with a chain, hexagon lenses, and visor sport sunglasses drives the growth of the sports sunglasses market. The availability of sports sunglasses in various attractive designs, such as streamlined designs, wraparound frames, curved shape designs, and others, has become the point of attraction for customers. In addition, the surge in interest of children, teens, and adults toward sports activities augments the growth of the sports sunglasses market.

Market Restraining Factors

Availability of Counterfeit Products

Due to the high pricing and widespread use of sports eyewear brands like Nike, Adidas, and Puma, counterfeit brands have emerged. These brands are most common in developing nations with price-conscious consumers. This problem hampers selling unique sports eyewear brands in these economies. In developing nations with price-sensitive consumers, counterfeit brands are typically common because of the substandard quality of the materials used and the reduced prices of the products; counterfeiting damages the brand reputation. One of the leading platforms where the sale of fake goods can be easily camouflaged is the online distribution channel. Thus, it is projected that the spread of the counterfeit sector will hamper the growth of the sports sunglasses market.

Key Market Opportunities

Technological Innovation

Sports sunglasses have progressed technologically as a result of manufacturers' ongoing innovation. These sunglasses come with a hydrophobic coating that makes the surface scratch-resistant and liquid-repellent. Sports sunglasses are offered with a hydrophobic coating that makes the surface scratch-resistant and liquid-repellent. Additionally, modern lenses are made of lightweight, shatter-resistant nylon and polycarbonate materials to improve comfort while offering the wearer superior protection and coverage. Furthermore, the availability of sports sunglasses with polarized lenses aids in minimizing the damaging effects of UVA and UVB, further accelerating the growth of the sports sunglasses market.

Regional Analysis

Region-wise, the global sports sunglasses market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

North America Dominates the Global Market

North America was the highest revenue contributor and is estimated to grow at a CAGR of 3.7%. The markets for sports sunglasses in the United States, Canada, and Mexico are all being researched. Regarding macroeconomic considerations, the U.S. economy is the largest in the world in terms of GDP and has more flexibility than Western European companies. Moreover, this region has a higher penetration of consumer goods products. Furthermore, high expenditure on premium quality consumer goods is due to high per-capita income and the trend of fashionable sunglasses. The rise in population and improved lifestyle are the key factors that drive the sports sunglasses market growth. This region's increased purchasing power significantly fuels the sale of sports sunglasses products. Moreover, due to the associated benefits, unisex design products have become increasingly popular in this region. This, in turn, boosts the sports sunglasses market growth in North America.

Europe is the second largest region. It is estimated to reach an expected value of USD 1480 million by 2030, registering a CAGR of 4.9% during the forecast period. Europe is a mature market. Stakeholders in Europe are focusing on leveraging new technology, owing to which Europe is witnessing a transitional shift in recent years. Furthermore, there is an increase in the number of participants in sports in countries like Germany, Spain, and France. This boosts the demand for sports accessories such as clothes, sunglasses, shoes, and other accessories. The high penetration of sports sunglasses in the European market has influenced the companies to launch new and innovative sports sunglasses to sustain in the competitive market. Moreover, increased awareness of eye injuries enhances the demand for sports sunglasses in this region. Furthermore, European sports sunglasses companies are increasing their brand visibility by hiring famous athletes to endorse their brands.

Asia-Pacific is the third largest region. The Asia-Pacific region is studied across China, India, Japan, ASEAN, and the rest of Asia-Pacific. There has been a rise in the demand for sports sunglasses in the last 2-3 years in this region, due to the surge in people's interest in sports and fashion. Moreover, in developing countries like India and China, trust, good quality products, and safety are top sports sunglasses purchase attributes. The Asia-Pacific market offers tremendous growth potential for businesses selling brand-new, cutting-edge sports eyewear. Moreover, the increase in urbanization and the rise in middle-class consumers in the developing and developed markets has encouraged the adoption of convenience-oriented lifestyles, making sports sunglasses more desirable for all age groups. Furthermore, an increase in interest of people toward cricket, mountain biking, cycling, squash, swimming, and others augments the growth of the sports sunglasses market.

Segmental Analysis

The global sports sunglasses market is segmented into type, distribution channel, gender, and region.

Based on type, the global market is bifurcated into polarized and non-polarized. The polarized segment was the highest contributor to the market and is estimated to grow at a CAGR of 4.7% during the forecast period. Polarized sports sunglasses are available with progressive lens and photochromic lens that helps reduce the harmful impact of UVA/UVB rays, which is also the current trend in the sports sunglasses market. Additionally, the thin chemical layer used to make the lenses of polarized sports sunglasses helps to block harsh light reflected off water or road surfaces on sunny days. Due to their widespread use in sports, the market for sports sunglasses is expanding.

A non-polarized segment is the second largest. Non-polarized sports sunglasses are worn during skiing and flying. Pilots are advised to wear non-polarized sunglasses because it helps in reading the controls and GPS in the cockpit. Moreover, non-polarized sports sunglasses are available in unisex design owing to their essential benefits, which include reduction of eye strain, improvement of visual clarity, and enhancement of comfort. This boosts the growth of the non-polarized sports sunglasses market.

By gender, the global market is categorized into male, female, and unisex. The male segment is expected to share the highest revenue and is estimated to grow at a CAGR of 3.6% during the forecast period. Male sports sunglasses are more impact-resistant than traditional lenses made up of glass or plastic, which is used in various sports. Moreover, sports sunglasses nowadays are made with polarized lenses to protect from UVA/UVB rays.

The unisex segment is the second largest. Unisex sports sunglasses protect from UVA/UVB rays due to polarized lenses' presence. The polarized lenses help men and women by providing clear visibility while playing sports like squash, golf, swimming, mountain biking, and others. Moreover, unisex sports sunglasses are made from metals and alloys to increase the overall strength and look, which boosts the growth of the sports sunglasses market. Furthermore, unisex sports sunglasses are readily available on e-commerce platforms, which makes buying convenient for the end users.

The female segment is the third largest region. Female sports sunglasses are available in bold colors such as red, hot pink, orange, yellow, and magenta. Moreover, many females wear sports sunglasses while playing sports like cricket, swimming, volleyball, cycling, rock climbing, golf, and others. Women also wear sports sunglasses as a fashion trend. The availability of female sports sunglasses with retro cat-eye, round, and transparent lenses is driving the growth of the sports sunglasses market. Moreover, nowadays, women like to wear sports sunglasses with various prints and textures, such as animal designs and others. This is also currently in the sports sunglasses market. In addition, there is an increase in the demand for female-tinted sports sunglasses as they enhance comfort and provide better visibility to the players. This boosts the demand for sports sunglasses in the market.

Based on distribution channels, the global market is classified into hypermarkets/supermarkets, specialty stores, brand outlets, and online sales channels. The specialty stores segment dominated the global sports sunglasses market and is estimated to grow at a CAGR of 5.5% during the forecast period. Manufacturers are continuously making efforts to increase the shelf visibility of their products; hence, they are majorly targeting specialty stores. As a result, a wider variety of sports sunglasses are available in specialty stores. Moreover, specialty stores provide options such as discounts and the benefit of immediate gratification, which results in the growth of the sports sunglasses industry.

The brand outlets segment is the second largest. The affluent customers are the ones who often buy sports sunglasses through brand outlets as they have higher disposable income and can afford premium products. The brand outlets segment of the sports sunglasses market is driven by an increase in the population of affluent customers in mature and emerging markets. Moreover, the rise in demand for branded premium sports sunglasses with augmented after-sales services is expected to provide growth opportunities for the brand outlet segment.

Recent Developments

• February 2024 - Modeled by Mark Cavendish and Loana Lecomte, Oakley unveiled a new collection of spectacles that it describes as its "most forgettable eyewear yet." At first sight, that may not look like the most clever marketing campaign, but it's a lighthearted twist on the highly praised features of the new Sphaera and Bisphaera, namely their light weight and wide field of view.
• January 2024 - As part of LVMH Watch Week, luxury watchmaker TAG Heuer updated its line of eyeglasses. The Avant-Garde Eyewear collection, developed in collaboration with eyewear authority Thélios, blends innovation, style, performance, and utility to produce three new lines of sporty spectacles.