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Prescription Sunglass Market Share, Analysis 2027 | Industry Report

Prescription Sunglass Market Analysis Report By Lens Material And Segment Forecasts From 2020 To 2027

Report ID: MN17620131  |  Published: September 2020  |  No of Pages: 91
Format: Electronic (PDF)  |  Industry: Glass  |  Publisher: Grand View Research

Industry Insights

The prescription sunglass market size across the globe was worth USD 3.47 billion in 2019. It is projected to witness a 4.9% CAGR over the forecasted years, 2020 to 2027. Shifting fashion trends for enhancing the look and need for crystal clear vision is projected to drive the market growth.

External factors like rapid technological developments, rising population, and urbanization are also expected to propel the demand for sunglasses. Also, a surge in the purchasing power among the millennial population across developing countries is expected to bode the demand for sunglasses across the globe.

Global prescription sunglass market

But rising acceptance of alternatives like optical surgeries and robust contact lenses are projected to hamper the demand for prescription sunglasses. But rapid technological developments undertaken by the key players like the usage of Trivex lens having superior optics and high strength are estimated to register significant growth across the global market.

Lens Material Insights

The global prescription sunglass market can be segmented into CR-39, polyurethane, polycarbonate, glass, and others (like Trivex) based on the lens material. The Trivex lens material permits enhanced optical clarity than the polycarbonate material. Also, additional features like lightweight and high impact resistance are expected to augment the market growth for this segment.

The CR-39 optical plastic is majorly used for producing prescription lenses. Such lenses are formed by pouring liquid polymer into a glass mold. This method permits the lens to attain the same characteristics as that of conventional glass. Also, additional features of this material like thinner and light-weightiness are expected to contribute to its increasing demand.

The polycarbonates have higher impact resistance as compared to the CR-39 material. Thus, they are widely used in producing sunglasses that can be worn for sports and outdoor activities. Also, additional features like more UV absorption and affordable pricing make them suitable more popular.

Regional Insights

The Asia Pacific accounted for the largest share across the global prescription/Rx sunglass market in 2019. It is also projected to register the fastest growth over the forecasted period, 2020 to 2027. Rising population, prolonged working hours at the office, the emergence of online education, and over usage of digital screens are projected to contribute towards the demand for prescription sunglasses.

The Middle East & Africa and Latin America are also estimated to register significant growth in the upcoming years. This can be attributed to the increasing demand for protective sunglasses that can be used in hazardous environments like radiation and chemical splashes.

COVID-19 Impact Insights

The market has been positively affected on account of the ongoing COVID-19 pandemic. Implementation of work from home policies by several organizations and shifting trends towards online education has resulted in to surge in the number of active hours on digital screens like smartphones and laptops. Thus, the need for ensuring visual clarity is being foreseen, which is expected to trigger the demand for prescription sunglasses. Also, the surging necessity to safeguard eyes from dust and other unwanted particles is projected to drive the demand for prescription sunglasses over the post-pandemic period.

Prescription Sunglass Market Share Insights

The market across the globe includes key players such as Bausch & Lomb, Carl Zeiss, Charmant Group, CooperVision, Luxottica Group S.p.A., Rodenstock, Essilor, and Marchon. They are rapidly implementing technological advances to gain a cutting edge over other competitors.

For example, Luxottica’s in-house portfolio includes brands such as Oakley, Oliver Peoples, and Ray-Ban. Strategies like acquisitions and mergers are also being undertaken by Luxottica to expand the business portfolio. Shifting consumer trends towards the adoption of required material and styles for enhanced looks is also projected to augment the market growth.

Report Scope

Attribute

Details

The base year for estimation

2019

Actual estimates/Historical data

2016 - 2018

Forecast period

2020 - 2027

Market representation

Revenue in USD Million and CAGR from2020 to 2027

Regional Scope

North America, Europe, Asia Pacific, South America, Middle East & Africa

Country Scope

The U.S., Canada, Germany, UK, China, India, Japan, Brazil, Mexico

Report coverage

Revenue forecast, competitive landscape, growth factors, and trends

15% free customization scope (equivalent to 5 analyst working days)

If you need specific information, which is not currently within the scope of the report, we will provide it to you as a part of the customization


Segments Covered in the Report
 

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends from 2016 to 2027 in each of the sub-segments. For this study, Million Insights has segmented the global prescription sunglass market based on lens material and region:

• Lens Material Outlook (Volume, Million Units, and Revenue, USD Million; 2016 - 2027)
    • CR-39
    • Polycarbonate
    • Polyurethane
    • Glass
    • Others

• Regional Outlook (Volume, Million Units, and Revenue, USD Million; 2016 - 2027)
    • North America
        • U.S.
        • Canada
    • Europe
        • Germany
        • UK
    • The Asia Pacific
        • China
        • India
        • Japan
    • Latin America
        • Brazil
        • Mexico
    • MEA

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