PUBLISHER: Allied Market Research | PRODUCT CODE: 1414875
PUBLISHER: Allied Market Research | PRODUCT CODE: 1414875
According to a new report published by Allied Market Research, titled, "Sports Eyewear Market," The sports eyewear market was valued at $5.7 billion in 2019, and is estimated to reach $8.9 billion by 2027, growing at a CAGR of 7.3% from 2021 to 2027.
The sports eyewear market is growing rapidly due to increasing awareness of the need for eye protection during various physical activities. Sports eyewear manufacturers are developing new materials and designs focused on performance, durability, and style to meet a variety of sports' needs. Market expansion is being driven by the increasing number of people participating in outdoor and extreme activities and increasing awareness of the importance of eye safety. To launch cutting-edge technology like polarized lenses, impact-resistant materials, and customized frames, major firms are making research and development investments. The market's trajectory is expected to continue rising as consumers choose sports eyewear that balances fashion and utility.
The sports eyewear market is analyzed on the basis of product type, end user, mode of sale, and region. By product type, the market is divided into prescription glasses, sunglasses, and contact lenses. By end user, the market is segmented into men and women. Depending on the mode of sale, it is classified into retail stores and online stores. Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Italy, Germany, Spain, and the rest of Europe), Asia-Pacific (China, Japan, India, Australia & New Zealand, ASEAN, and the rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
Since consumers and athletes look for eyewear that not only serves a functional purpose but also fits in with their particular style, the market gains from the fashion and style influence in sports culture. Competing to satisfy the varied needs of athletes across a range of sports categories are major participants in the eyewear market as well as niche sports eyewear manufacturers. Sports eyewear is a market that is expected to grow further as long as sports maintain their centrality in popular culture. New designs and technology will have the chance to influence the direction of this sector.
The market for sports eyewear is expanding rapidly due to increased awareness of the importance of eye protection. The need for specialized eyewear is being driven with the help of athletes and sports supporters who are becoming more aware of possible risks of eye injury during different activities. Growing awareness is driving consumers to prioritize eyewear that provides both strong eye protection and performance enhancement, which in turn influences their purchasing decisions. This trend is changing the way of manufacturing sports eyewear products by encouraging innovative solutions in material and design to meet the changing demands of people who prioritize their eye health when it comes to achieving athletic success.
Individual differences in physiology present obstacles to customization in the sports eyewear business. There is no one-size-fits-all option because facial structures differ a lot. This presents problems for both comfort and performance because inappropriate eyeglasses can distract from an athlete's training. Producers struggle with the requirement to provide customized choices while keeping manufacturing costs low. Furthermore, achieving a balance between practicality and style makes customization more difficult. It's a tough task to find the correct balance between modified design and aesthetics to accommodate individual tastes. Thus, customization is regarded as one of the restraints for the growth of the global sports eyewear market.
The key players operating in the sports eyewear market have adopted product launch and business expansion as their key strategies to expand their market share, increase profitability, and remain competitive in the market. The major players operating in the global sports eyewear market are Puma SE, Nike, Inc., Under Armour, Inc., Adidas AG, Titan Company Limited, Liberty Sport, Inc., Safilo S.p.A., EssilorLuxottica S.A., Yiwu Conchen Glasses Co., Ltd, and Decathlon SA.
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Possible Customization with this report (with additional cost and timeline, please talk to the sales executive to know more)