Polarized Sunglasses Market Forecast 2023 - 2030

By Frame Shape:

The frame shape segment is categorized into round/oval, rectangular, square, aviators, and others. In 2022, the rectangular segment accounted for the highest market share of 31.50% in the overall polarized sunglasses market. Rectangle glasses designs are ideal for men and women with curved jawlines and delicate facial characteristics which is the key driver of the polarized sunglasses market.

However, the aviators segment is expected to grow at the fastest CAGR over the forecast period in the market owing to the availability of varieties of colors and styles of aviators for both men and women. Further, such sunglasses are widely used by pilots to protect their eyes from sunlight and glare while flying.

For instance, Maui Jim, Inc. headquartered in Lahaina, Hawaii launched new aviator sunglasses for women with the help of PolarizedPlus2 technology that eliminates glare, manages HEV exposure, and blocks 100% of harmful UV rays. The aviators also offer color enhancement, clarity, and crisp optics in all light conditions.

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By Lens Material:

The lens material segment is categorized into plastic, glass, metal, fibre, and others. In 2022, the plastic segment accounted for the highest market share in the overall polarized sunglasses market. Plastic lenses are more durable than glass lenses as they are difficult to crack or break. Further, the lightweight nature and low cost of plastic lens sunglasses as compared to other lens materials are boosting the dominance of the segment.

However, glass is expected to be the fastest-growing segment over the forecast period in the polarized sunglasses market. Glass offers the best optical experience as glass refracts light much more efficiently than plastic. Further, the glass lens material is scratch-resistant and blocks UV light more efficiently thereby, expected to drive the growth of the market in coming years.

By Application:

The application segment is divided into vehicle driving, outdoor sports, water sports, fishing and boating, and others. In 2022, outdoor sports accounted for the highest market share in the polarized sunglasses market. Due to the the property of polarized sunglasses to reduce glare and the presence of an anti-fog coating to provide clear vision while playing outdoor sports such as golf, tennis, hiking, biking, and others.

For instance, according to the study published in Research Gate more than 30% of the Swedish and 50% British engage in hiking activities. Further, in Germany, hiking is the third most popular recreational activity with 41% participation. Hence, the rising trend for outdoor sports activities is a key factor driving the growth of the polarized sunglasses market.

However, vehicle driving is anticipated to grow at the fastest CAGR over the forecast period. The lenses present in polarized sunglasses help to reduce glare reflected from flat and horizontal surfaces such as roads, making them ideal to wear while driving.Further, polarized sunglasses also helps in improving the contrast and offers UV protection which are the significant factors required while driving a vehicle. Hence, the aforementioned factors are collectively responsible for boosting the growth of the polarized glasses market during the forecast period.

By End-User :

The end-user segment is classified into men, women, and unisex. In 2022, the men segment accounted for the highest market share attributed to greater participation of men in outdoor sports activities such as biking, hiking, and others that widely require polarized sunglasses for UV protection and clear visibility.

However, the women segment is expected to grow at the fastest CAGR over the forecast period owing to the availability of a variety of designs, lens colors, and frame shapes, for women making them suitable for different occasions and outfits. Further, the rising popularity of fashion trends among women is expected to increase the growth of the polarized sunglasses market.

By Distribution Channel :

The distribution channel is divided into online and offline. In 2022, the offline segment accounted for the largest market share in the polarized sunglasses market. Offline channels have an extensive physical presence, allowing customers to conveniently browse, compare, and purchase varieties of polarized sunglasses in-store. Additionally, offline retail channels provide a personalized customer experience to seek guidance and receive immediate assistance in selecting the right sunglasses for specific requirements. Hence, the aforementioned factors are collectively responsible for boosting the growth of the offline segment.

However, the online segment is expected to grow at the fastest CAGR during the forecast period. Online distribution channels offer the convenience of easily browsing through a wide range of polarized sunglasses, comparing prices, reading reviews, and making purchases. Further, the shift in customer behavior of shopping online through e-commerce websites, online marketplaces, and mobile applications is contributing to segment growth.

For instance, according to the India Brand Equity Foundation, in 2022, the Indian e-commerce market reached USD 74.8 billion and is expected to reach USD 350 billion by 2030. Hence, the increasing growth of e-commerce platforms is expected to boost the revenue of the polarized sunglasses market over the forecast period.

By Region :

The regional segment includes North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America.

In 2022, North America accounted for the highest market share at 37.45% and was valued at USD 2,571.54 million, and is expected to reach USD 3,858.92 million in 2030. In North America, the U.S. accounted for the highest market share of 63.35% during the base year 2022 owing to the increasing fishing, boating, skiing, and other sports activities that require polarized sunglasses to protect the eyes from the glare caused by sunlight reflecting off surfaces such as water and snow.For instance, according to the Canadian Ski Council, the total number of ski areas in Canada accounted for 275 with more than 19 million visits reported per season. Further, 14.2% of Canadians over the age of 12 participate in snowboarding and skiing. Hence, the rising outdoor activities in the region particularly in Canada are boosting the demand for polarized sunglasses.

Moreover, Asia Pacific is expected to grow at the fastest CAGR of 6.8% during the forecast period owing to the increasing number of eye-related problems and rising awareness regarding eye safety.