Plano sunglasses industry is expected to witness exponential growth in the forthcoming years owing to the rising adoption of modern lifestyles and fashion trends and increasing brand awareness among consumers.
Plano sunglasses are also adopted as safety spectacles that provide protection against eye injuries caused by dirt, flying dust, wood chips, metal, and other particles. The rising adoption of UV-protected sunglasses for eye comfort and providing protection from macular degeneration is likely to boost business expansion. As per the WHO, age-related macular degeneration ranks third among the major causes of visual impairment and has a blindness prevalence of 8% globally.
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Driven by the above-mentioned factors, global Plano sunglasses market size is projected to surpass USD 29 billion by 2024, cites the latest report by Global Market Insights, Inc.
Plano polarized lenses not only protect eyes from harmful rays and particles but also corrects vision. These sunglasses possess several vision-enhancing properties that help in reducing glares and providing clearer, sharper vision, and comfort to the eyes.
This leads to extensive demand for polarized Plano lenses in daylight sports, construction, driving, and other outdoor activities. Driven by this, polarized Plano sunglasses market size is slated to exceed 174 million units by 2027.
Plano polycarbonate lenses are lightweight, durable, thin, impact-resistant, and provide full protection against UV rays. These are widely adopted by individuals working in hazardous and rugged environments, such as chemical factories, construction sites, and others.
Significant growth in the industrial sector, especially in developed regions is likely to positively impact the demand for Plano polycarbonate sunglasses. As a result, the Plano sunglasses industry share from polycarbonate material is slate to grow at over 2.5% rate through 2024.
CR-39 Plano lenses are witnessing strong demand owing to their high resistance to impact & scratches and optimum optical quality as compared to other glasses. The increase in spending on scratch-proof and premium quality sunglasses particularly among millennials would foster product demand to a large extent. Owing to this, CR-39 Plano sunglasses are expected to register a market share of USD 215 million by 2024.
Online stores are becoming a highly adopted distribution platform for Plano sunglasses manufacturers owing to the rising popularity among customers. Availability of a broader range of products with comparison options, attractive discount offers, multiple payment methods, and easy accessibility, are some major benefits that are driving maximum sales of Plano lenses through online channels. Notably, online stores held a market share of around USD 4 billion in global Plano sunglasses industry in 2016.
The rising number of brand-conscious customers and elevating disposable income, particularly in urban regions, are key to increased sales through independent brand showrooms. The availability of a niche range of authentic products and purchasing advice from experts are some other factors that are influencing customer footfall in branded sunglasses showrooms. Driven by this, independent brand showrooms are anticipated to hold around 25% share of Plano sunglasses industry by 2024.
Global Plano sunglasses industry share from Europe is slated to reach around USD 11 billion by 2024. This is attributed to escalating demand for premium-class and customized colored shade sunglasses in the region.
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Rapid urbanization, strong presence of top brands, along with ever-so-changing fashion trends and growing penetration of e-commerce business are few notable factors augmenting the adoption of Plano lenses. According to a report, e-commerce sales in Europe were valued at over €717 billion in 2020. A drastic change in consumer buying behavior and growth in buying capacity would further complement the Plano sunglasses business in Europe.
In a nutshell, improving economic condition, along with consumer buying capacity, fast-changing fashion trends, and growing brand awareness is expected to positively impact global Plano sunglasses industry forecast through 2024.