North America Plano Sunglasses Market, led by the U.S. for industrial eye protection market will grow at 4% up to 2024. Rising demand for visually attractive products along with widespread awareness for eye protection will drive the regional demand.
The upcoming innovations in eyewear technology has brought about a change in the focus of plano sunglasses market players, prompting them to implement out-of-the-box growth strategies. Recently, FXG International, Inc., the world’s leading designer and marketer of sunglasses, announced a collaboration between their hallmark brand Foster Grant®, and PogoTec™, a massive giant in electronic wearable device market. FXG international and PogoCam™ are focusing on the development of the product as per the customer’s point of view. The increasing implementation of eyewear innovations and wearable technology is thus, slated to augment plano sunglasses industry share considerably. The rapidly changing consumer lifestyles and their shifting preferences toward multipurpose wearable products have also been boosting the product demand, directly impacting plano glasses market size. Subject to the extensive demand, as per a research report, in 2016, plano sunglasses market held a revenue collection of USD 16 billion.
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The players in plano sunglasses industry are continuously investing in research activities to bring forth new materials for incorporating superior UV protection, resistance to impact and heat, light weight, and enhanced transparency. Speaking of which, polycarbonate-based plano sunglasses market will register an annual growth rate of 4.5% over 2017-2024, pertaining to the material’s property to enhance visibility. The key business contributors in plano sunglasses industry are Safilo Group, Modo Eyewear, Luxottica Group SpA, Vogue Eyewear, Kenmark, De Rigo Rem, Marcolin Eyewear, FGX International, and Silhouette International.
Most of the major players have established their manufacturing base mainly across Europe, as this region has apparently witnessed a huge demand for premium products. The rise in per capita income and increased spending capability of consumers are slated to favor Europe plano sunglasses industry, which collected a revenue of USD 110 million in 2016. The expanding e-commerce sector and the subsequent availability of online stores will also boost the product demand over the years ahead.
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Many other business domains have been depicting an interest in the eyewear sector, pertaining to the tremendous business scope and huge profit margins. For instance, a few months back, the French luxury goods group LVMH has forged a joint venture with one of the renowned spectacles makers – Marcolin, to design and manufacture sunglasses. From 2018, Marcolin plans to make LVMH a preferred partner in the eyeglasses business.
Taking into account the widespread scope for sunglasses, most of the eyewear designers, marketers, and distributors are expanding their business across the major geographies. The development of innovative products combined with cost effectiveness and quality will naturally lead to the expansion of the consumer base of this industry over the years ahead. Considering the future scope of eyewear, Global Market Insights, Inc., estimated the worldwide plano sunglasses market to surpass a revenue collection of USD 29 billion by the end of 2024.
Browse key industry insights 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 (U.S., Canada, Germany, UK, France, Spain, Italy, Russia, Poland, Nordic Countries, Switzerland, Luxembourg, Belgium, Ireland, China, India, Japan, South Korea, Thailand, Indonesia, Malaysia, Vietnam, Taiwan, Singapore, Brazil, Mexico, Argentina, South Africa, Saudi Arabia, UAE, Egypt, Tunisia), Application Potential, Price Trend, Competitive Market Share & Forecast, 2017 – 2024” in detail along with the table of contents:
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Eyewear Market Forecast, 2017 – 2024
Eyewear Market size was worth over USD 110 billion in 2016 and is set to exceed 1.3 billion units by 2024. Favorable demographics, hectic lifestyles accompanied by increasing chronic eye diseases is anticipated to drive the eyewear market size. Cataracts, glaucoma and uncorrected refractive errors are most common causes of visual impairment. As per analysis, about 20% of world’s population is aged 50 and above.
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