Global Sports Eyewear Market Highlights
In 2022, the Sports Eyewear Market Size achieved a valuation of USD 8.9 Billion. Projections for the industry indicate a notable growth trend, with expectations to progress from USD 9.33 Billion in 2023 to USD 13.57 Billion by 2032. This anticipated advancement signifies a commendable compound annual growth rate (CAGR) of 4.80% over the forecast period from 2023 to 2032. The driving forces behind this expansion are attributed to increased government support in sports and ongoing innovation in manufacturing within the sports eyewear market. These factors play pivotal roles in propelling the market's growth and expansion.
The Sports Eyewear market's share Compound Annual Growth Rate (CAGR) is propelled by the increasing enthusiasm for sports across diverse industries. The utilization of specialized polycarbonate materials in sports sunglasses, known for their enhanced strength, durability, and retinal safety during rigorous activities, contributes significantly to this growth. These specialized eyewear products find application in activities such as cycling, swimming, mountain biking, and various other sports due to their superior impact resistance compared to conventional glass or plastic lenses. This unique set of features is fueling the expansion of the sports sunglasses market. Moreover, sports sunglasses are crafted in distinct shapes and styles, deviating from conventional designs, with a primary focus on providing comprehensive eye protection for athletes and enthusiasts engaged in various sports activities.
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The sports eyewear market has been segmented based. application and distribution channel.
Based on Application, the market is segmented into Outdoor Sporting & Traveling, Water Sports, Ski Sports, and Others. The outdoor sporting & traveling segment was attributed to holding the largest market share in 2022 because consumer preference is shifting towards luxury and comfort, which has increased demand for branded, high-quality goods.
Based on Distribution channel, the global sports eyewear market has been segmented into Offline, and Online. The offline segment was expected to hold the largest market share in 2022. This is due to the assurance people get by physically checking the product before purchasing.
MRFR recognizes the following companies as the key players in the: Nike, Inc., Adidas AG, Zeniths, LLC, Carl Zees AG, March on Eyewear, Inc., MYKITA GmbH, Under Armour, Inc., Boggs International Ltd., Aqua Lung International, Speedo International.
The global sports eyewear market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe sports eyewear market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The sports eyewear market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World sports eyewear market comprises of Middle East, Africa, and Latin America.
The North American market for sports sunglasses is growing owing to increasing sports activities in the region and increasing demand for protective eyewear as well. Sports sunglasses are made from polycarbonate materials that are durable and protect the eyes of the players from harmful UVA and UVB rays of the sun. Additionally, the sunglasses are made with lightweight material that also works as impact resistance and dirt and dust protection as well. Additionally, the market players are innovating new types of sunglasses for all types of sports due to which demand for them in the region is increasing
Moreover, the Europe market has been persistently growing over the forecast period. The demand for sports accessories such as clothing, eyewear, shoes, and other items is growing because of the growing penetration of sports sunglasses in the European market, companies have launched new and creative sports sunglasses in order to compete. Furthermore, growing awareness of eye injuries increases demand for D or sports sunglasses in this region.
Additionally, emerging nations such as India and China, trust, high-quality products, and safety are the most important factors to consider when purchasing sports sunglasses. The Asia-Pacific market has enormous development potential for companies selling brand-new, cutting-edge sporting equipment. The Asia Pacific market will benefit from a growing emphasis on environmentally friendly energy sources.
Furthermore, the rest of sports eyewear Market is divided into the Middle East, Africa, and Latin America. This growth is attributed to the use of raising awareness of the health benefits of sporting activities t. Government support, a rise in investor interest, and the viability of the technology in the sector are all contributing factors to the market expansion.
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Key Findings of the Study
- The sports eyewear Market is expected to reach USD 13.57 billion by 2032, at a CAGR of 4.80% during the forecast period.
- The Asia-Pacific market has enormous development potential for companies selling brand-new, cutting-edge sporting equipment.
- By application, the outdoor sporting & traveling segment was attributed to holding the largest market share in 2022.
- Nike, Inc., Adidas AG, Zeniths, LLC, Carl Zees AG, March on Eyewear, Inc., MYKITA GmbH, Under Amour, Inc., Boggs International Ltd., Aqua Lung International, Speedo International.
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