North America held the largest share of the sports sunglasses market in 2022. In North America, sales of sports sunglasses are driven by different retail channels, including supermarkets, specialty stores, online retail platforms, eyecare clinics, and fashion boutiques, catering to a wide range of customers. Also, participation in sports events is increasing with rising and awareness regarding eye injuries during sports is boosting the demand for sports sunglasses and expected to drive the market growth in the region.
Increasing Awareness of UV Protection Boosts Sports Sunglasses Market Growth
Excessive exposure to UV rays can lead to squinting, discomfort, and reduced visual clarity. Sports sunglasses with UV protection ensure that athletes can maintain optimal vision and focus during their activities, enhancing their overall performance. In addition to the immediate impact on eye health and performance, the long-term consequences of UV exposure cannot be underestimated. UV radiation is a known factor in developing eye-related conditions, such as age-related macular degeneration. As people become more aware of these long-term risks, they increasingly invest in sports sunglasses with adequate UV protection as a preventive measure to safeguard their eye health for years to come. This awareness leads to innovations in UV protection technologies, ensuring that consumers have access to the best possible eye protection. This aspect has led to a growing demand for sports sunglasses that combine UV protection with advanced lens technologies, making them indispensable gear for sports and outdoor adventures. Thus, recognizing the importance of UV protection, consumers increasingly seek sports sunglasses that offer both style and performance and effective UV shielding, which drives the sports sunglasses market growth.
Sports Sunglasses Market: Segmental Overview
Based on category, the sports sunglasses market is segmented into men, women, unisex, and kids. The men segment held the largest market share in 2022. According to the Council of Europe data for 2022, 75% of young men and 55% of young women practice sports or other activities at least once a week; moreover, 15% of young men, compared to 8% of young women are engaged in sports or other physical activity at least 5 times per week. Therefore, companies such as Decathlon; Adidas AG; Luxottica Group; and Nike, Inc. are extensively offering a range of sports sunglasses to the men’s category in the global sports sunglasses market. Hence, increasing men’s participation in sports worldwide and manufacturers catering to the growing demand from men across the globe result in a significant share of this segment in the overall sports sunglasses market.
Based on distribution channel, the sports sunglasses market is segmented into supermarkets & hypermarkets, specialty stores, online retail, and others. The online retail segment is projected to register the highest CAGR during the forecast period. Online distribution channels reduce the operation cost of manufacturers and allow them to reach targeted customers. Further, various online portals such as Amazon offer home delivery services, secure payment options, and attractive discounts, making the buying process convenient for customers. During the COVID-19 pandemic, online retail channels gained popularity as they offered home delivery services. Hence, the convenience, availability of a vast array of products, and time management properties of online stores promote the market growth for the online retail segment.
Impact of COVID-19 Pandemic on Sports Sunglasses Market
Various consumer goods industries reported unprecedented challenges during the COVID-19 pandemic in 2020. Moreover, sports sunglasses manufacturers faced significant challenges in production and distribution due to supply chain constraints caused by nationwide lockdowns, trade bans, and travel restrictions, eventually leading to price hikes. The operations and processes were halted across the globe due to the shortage of workforce and limited supply of raw materials. Moreover, the preference for indoor activities upsurged due to the lockdown mandates. Thus, the sales of sports sunglasses declined during the pandemic. However, changing lifestyle trends such as increasing emphasis on comfort, convenience, and personalization influenced the demand for sports sunglasses. Also, owing to a shift in consumer shopping behavior, there was a transition toward e-commerce shopping due to safety concerns.
Sports Sunglasses Market: Competitive Landscape
Columbia Sportswear Co, EssilorLuxottica SA, Liberty Sport Inc, Under Armour Inc, Nike Inc, Rapha Racing Ltd, Puma SE, Decathlon SE, Adidas AG, and Safilo Group SpA are among the major players operating in the sports sunglasses market. Companies in this market focus on strategies such as investments in research and development activities and new product launches.