Portland,OR, May 12, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global sports sunglasses market garnered $3.13 billion in 2019, and is projected to generate $3.48 billion by 2027, witnessing a CAGR of 6.8% from 2021 to 2027. The report provides an extensive analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.
Rise in number of exclusive sports equipment outlets and sports stores in developing nations, surge in safety awareness during outdoor sports, ongoing fashion trends, and increased government investments drive the growth of the global sports sunglasses market. However, counterfeit products and allergies regarding sports sunglasses hinder the market growth. On the other hand, technological advancements and trend of tinted sports sunglasses provide new opportunities in the coming years.
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Covid-19 Scenario:
- Manufacturing activities were stopped due to lockdown enforced in many countries. In addition, supply chain was disrupted and raw material shortage occurred.
- Owing to complete restrictions on sports activities during the lockdown, the sales of sport sunglasses declined significantly.
- As the new regulations regarding sport activities are launched and the activities begin across the world, the demand for sports sunglasses is expected to gain traction.
The report offers detailed segmentation of the global sports sunglasses market based on type, gender, distribution channel, and region.
By type, the polarized segment accounted for the highest share in 2019, contributing to more than four-fifths of the total market share, and is estimated to maintain its leadership status throughout the forecast period. In addition, this segment is projected to register the highest CAGR of 6.1% from 2021 to 2027. The research also analyzes the non-polarized segment.
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Based on gender, the male segment held the largest market share in 2019, contributing to more than two-fifths of the global sports sunglasses market, and is projected to continue its lead position during the forecast period. However, the female segment is expected to witness the largest CAGR of 8.2% from 2021 to 2027.
By region, North America contributed to the highest share in 2019, holding around two-fifths of the global market, and is projected to maintain its dominance in terms of revenue by 2027. On the other hand, LAMEA is anticipated to portray the fastest CAGR of 10.4% during the forecast period.
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Leading players of the global sports sunglasses market analyzed in the research include Adidas AG (Adidas), PUMA SE, Luxottica, Decathlon SA, Nike, Inc., Titan Company Limited, Under Armour, Inc., Yiwu Conchen Glasses Co., Ltd., Liberty Sports, Inc., and Safilo Group S.p.A.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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