SUNGLASSES MARKET SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS (2023 - 2028)


Sunglasses Market Analysis:

The global market for sunglasses is expected to experience a Compound Annual Growth Rate (CAGR) of 5.03% during the forecasted period. Sunglasses are considered to be fashionable accessories that offer both style and practicality. Their primary function is to protect the eyes from the sun’s glare. In January 2023, the National Eye Institute reported that excessive sun exposure, particularly without sunglasses, can accelerate the formation of cataracts. Furthermore, approximately 20% of cataract cases are caused by UV exposure. Sunglasses provide protection by blocking 99% to 100% of UVA and UVB rays. The market for sunglasses is driven by rising disposable income, increased consumer awareness of the importance of eye protection, and the growing demand for stylish accessories among young individuals worldwide. The market is also influenced by seasonal variations, with strong demand for sunglasses during summer and winter due to outdoor activities such as sports, tourism, and recreation. The increasing demand for sunglasses is due to consumers’ preference for branded, well-designed, and quality products, as well as their desire to maintain a luxury lifestyle that reflects their societal status. Consumers are willing to pay extra for branded and expensive sunglasses to make a unique fashion statement. Manufacturers are also introducing sunglasses in various forms, hues, and shapes to match consumer preferences.

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