Wilmington, Delaware, United States, July 04, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global sports goggles market stood at US$ 8.2 billion in 2022, and the global market is projected to reach US$ 13.2 billion by 2031. The global industry is anticipated to record a CAGR of 5.5% between 2023 and 2031.
The value of sports goggles market is increasing, owing to the growing awareness about the importance of eye safety and the potential risks associated with sports activities.
Athletes and sports enthusiasts are becoming more conscious of protecting their eyes from injuries caused by impacts, UV radiation, dust, and debris. The increased awareness is driving the demand for sports goggles as an essential protective gear.
Growing participation in sports and recreational activities, is another significant factor contributing to the market growth. People of all ages and backgrounds are engaging in various sports, such as basketball, football, skiing, cycling, and swimming. The surge in sports participation is fueling the demand for sports goggles as individuals prioritize their eye safety and performance enhancement.
The market prospects have been driven by factors such as technological advancements in sports eyewear, in terms of lens materials, frame designs, and lens technologies. Manufacturers are developing innovative goggles that offer enhanced protection, comfort, visual clarity, and customization options. Features like anti-fog coatings, impact resistance, UV protection, and adjustable fit systems are attracting consumers and driving market growth.
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Market Snapshot:
| Report Coverage | Details | |
| Market Revenue | US$ 8.2 Bn | |
| Estimated Value | US$ 13.2 Bn | |
| Growth Rate - CAGR | 5.5% | |
| Forecast Period | 2023-2031 | |
| No. of Pages | 170 Pages | |
| Market Segmentation | By Type, Sports Type, End-user, Distribution Channel | |
| Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, South America | |
| Companies Covered | Adidas AG, Bollé Brands, Decathlon SE, Giro Sport Design, Julbo, Luxottica Group SpA, Nike Inc., SCOTT Sports SA, Smith Optics, Zeal Optics, Inc. | |
Key Findings of the Market Report
- On the basis of type, polarized sports goggles segment is likely to be most preferred, expected to expand at a significant share, attributed to the glare reduction, and enhanced visual acuity.
- By Sports Type, the ski and snowboard segment to boost the market growth, owing to the factors such as eye protection in snow conditions, as well as impact resistance & durability.
- By end-user, unisex segment is expected to boost the market growth, attributed to the factors including gender-neutral design, and growing demand for inclusive products.
Global Sports Goggles Market: Growth Drivers
- The global sports goggles market is projected to expand at a steady pace from 2023 to 2031, owing to increasing adoption of prescription sports goggles, and fashion & style quotient
- Other factors that are projected to augment the market growth include emphasis on sports performance & enhancement, and stringent safety regulations & guidelines.
- Growing popularity of extreme & adventure sports, and increasing disposable income & consumer spending on sports gear, are the major factors that are anticipated to fuel the market prospects in the near future.
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Global Sports Goggles Market: Regional Landscape
- Asia Pacific is expected to dominate the sports goggles market, and is expected to hold a significant share during the forecast period, attributed to increasing sports participation, and rising awareness of eye safety in the region.
- The regional market is witnessing an increase, due to the factors such as expansion of sports industry, as well as rapid urbanization & lifestyle changes.
- Influence of international sports events, and technological advancements in sports eyewear in the region, are also anticipated to escalate the growth of the regional market over the analysis period.
Global Sports Goggles Market: Key Players
Some of the key market players in the global sports goggles market are:
- Adidas AG
- Bollé Brands
- Decathlon SE
- Giro Sport Design
- Julbo
- Luxottica Group SpA
- Nike Inc.
- SCOTT Sports SA
- Smith Optics
- Zeal Optics, Inc.
Competitive Landscape
Prominent players in the sports goggles industry are taking advantage of the rapidly increasing demand for sports goggles. To further their outreach, players are relying on collaborations, partnerships and acquisitions with existing small, medium and large-scale providers. Some prominent market developments are as follows:
- In 2023, Under Armour unveiled the Under Armour UA Tuned collection, featuring sports goggles with UA Tuned lenses that enhance contrast and provide precise visual acuity for specific sports.
- In the same year, POC introduced the POC Do Flow Clarity goggles, incorporating Clarity lens technology for enhanced contrast and color definition in different sports environments.
- In 2022, Smith Optics launched the Smith Squad MAG goggles, featuring a magnetic lens system for easy lens interchangeability and adaptability to changing weather conditions.
- In the same year, Julbo introduced the Julbo Aerospeed Reactiv sports goggles, equipped with photochromic lenses that automatically adjust to changing light conditions.
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Global Sports Goggles Market: Segmentation
- Type
- Polarized
- Non Polarized
- Sports Type
- Water Sports
- Ski and Snowboard
- Motorcycling
- Shooting
- Cycling
- Fishing
- Multipurpose
- Others (Basketball, Mountaineering, etc.)
- End-user
- Male
- Female
- Unisex
- Kids
- Distribution Channel
- Online
- E-commerce Websites
- Company Owned Websites
- Offline
- Specialty Stores
- Supermarkets / Hypermarkets
- Other Retail Stores
- Online
- Regions
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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