Plano Sunglasses Market

The global plano sunglasses market size is anticipated to register a considerable CAGR during the forecast period, 2021-2028. The growth of the market is attributed to the growing demand of fashionable products from consumers across the globe.

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Plano sunglasses are defined as sunglasses, which are not used for vision correction and thus that are fitted with non-prescription lenses. According to scientific studies and the American Optometric Association, that prolonged exposure of the eyes to ultraviolet rays and solar radiation increases the threat of macular degeneration, makes eyes prone for damage to retina, and high risk of developing a cataract, which can be fought by the use of sunglasses with high eye protection factor. So, the plano sunglasses are mainly used by users for protecting the eyes against harmful UV rays. Along with these, the plano sunglasses are also offering benefits to its use for aesthetic purposes, shield the eyes from windblown debris, and help to keep contact lenses from drying out when outdoors.

The COVID-19 pandemic outbreak had negative impact on the market. During the pandemic, the emergency lockdown imposed by government bodies across the globe to reduce the spread of virus resulted a downfall in sales of sunglasses. Additionally, halt in sports activity or any outdoor activity due to social distancing norms and travel ban imposed by government hampered the demand of plano sunglasses. The market is expected to quickly recover, since lockdown is lifted by government in many regions as COVID-19 instances have gradually reduced around the world.

Market Trends, Drivers, Restraints, and Opportunities

• Growing awareness among global population regarding the importance of protecting eyes from UV rays is one of the key factors driving the market growth.
• Rising purchasing power among end-users is projected to boost the market during the forecast period.
• Increasing number of spectacles wearing population due to vision deficiencies acts as a major challenge that can restrict the market growth in the coming years.
• Surging use of prescription sunglasses for the dual purpose of vision correction and protection of eyes is expected to hamper the market growth during the projected timeline.
• Changing lifestyle and demand for fashionable sunglasses especially in developing countries is anticipated to create significant growth opportunities for the market.

Scope of the Report

The report on the global plano sunglasses market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Market Segment Insights

CR-39 segment to register a high CAGR

On the basis of materials, the global plano sunglasses market is segregated into polyurethane, CR-39, polycarbonate, and others. The CR-39 segment is projected to register at high CAGR in the projected timeline attributed to its lower cost and durability. Furthermore, the CR-39 material is light weight, provides better resistance to heat, and improves protection of eyes from UV rays, which is driving the segment growth further. However, the polyurethane segment is anticipated to register a substantial CAGR during the forecast period owing to the sunglasses of this materials offers more aesthetic look, high impact resistance, and suitability in harsh weather conditions.

Enhanced protection drives the polarized segment

Based on products, the market is bifurcated into non-polarized and polarized. The polarized segment is expected to grow at a rapid pace during the forecast period due to its benefit in improving visual acuity and enhancing vision. Additionally, the segment growth is further accelerated as the polarized lenses are taper towards edge and thick in center, which is optically correct lenses and provides enhanced protection to eyes. On the other hand, the non-polarized segment is anticipated to expand at a substantial CAGR in the coming years attributed to the less cost than polarized sunglasses, superior optical properties, and reduction in amount of visible light entering in eyes. 

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North America to constitute a key market share

In terms of region, the global plano sunglasses market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to constitute a key share of the market during the projected period owing to the presence of key global market players coupled with higher affordability rate among consumers and increasing preference to plano sunglasses by population in the region. However, the market of Asia Pacific is anticipated to grow at a rapid pace during the forecast period due to the improved standard of living, increased safety awareness among consumers, and rising consumer base for plano sunglasses in the region.

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Segments

Segments Covered in the Report

The global plano sunglasses market has been segmented on the basis of

Materials

• Polyurethane
• CR-39
• Polycarbonate
• Others

Products

• Non-polarized
• Polarized

Regions

• Asia Pacific
• North America
• Latin America
• Europe
• Middle East & Africa

Key Players

• Ray-Ban
• Persol
• Safilo Group S.p.A.
• Marchon Eyewear, Inc.
• De Rigo S.p.A.
• Luxottica Group S.p.A.
• Oakley, Inc.
• Vogue Eyewear
• Marcolin Eyewear
• Charmant USA Inc.

Competitive Landscape

Key players competing in the global plano sunglasses market are Ray-Ban; Persol; Safilo Group S.p.A.; Marchon Eyewear, Inc.; De Rigo S.p.A.; Luxottica Group S.p.A.; Oakley, Inc.; Vogue Eyewear; Marcolin Eyewear; and Charmant USA Inc.  Companies are focusing on investments in R&D sector for advancements in plano sunglasses to fulfil the demand from the market and maintain their competitive position in the market. Companies have been widely engaged in strategic partnership, merger & acquisition, new product launch, and collaborations to boost their market share and acquiring new buyers.

For instance, in May 2019, Xiaomi introduced a range of Polarized Sunglasses from Xiaomi Mi on its online platform. The newly launched sunglasses provides six layered lens technology for the elimination of harmful UV rays, glare, and polarized light.