The Prescription Sunglass Market Size was estimated at 7.74 (USD Billion) in 2022. The Prescription Sunglass Industry is expected to grow from 8.12 (USD Billion) in 2023 to 12.5 (USD Billion) by 2032. The Prescription Sunglass Market CAGR (growth rate) is expected to be around 4.91% during the forecast period (2024 - 2032).
Key Prescription Sunglass Market Trends Highlighted
Increasing awareness of the harmful effects of UV radiation on eye health is a key driver for the prescription sunglasses market, as they offer protection against both UVA and UVB rays. Additionally, the rising prevalence of eye disorders such as cataracts and macular degeneration has fueled demand for prescription sunglasses. Fashion and aesthetics also play a role, as consumers seek stylish and functional eyewear that complements their outfits.
The growing popularity of online retailers and e-commerce platforms presents opportunities for market expansion. By leveraging online channels, manufacturers can reach a wider customer base and cater to the increasing demand for convenience.
Furthermore, the development of advanced technologies, such as photochromic lenses that automatically adjust to changing light conditions, can offer competitive advantages and attract new consumers.
Sustainability and eco-friendliness have emerged as important considerations in the prescription sunglass market. Consumers are becoming more conscious of their environmental impact and seek eyewear made from recycled or biodegradable materials.
Additionally, the increasing urbanization and lifestyle changes are leading to a growing demand for sunglasses that offer both protection from harmful rays and enhance visual comfort during outdoor activities.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Prescription Sunglass Market Drivers
Rising Demand for UV Protection
The increasing awareness of the harmful effects of ultraviolet (UV) radiation on the eyes has led to a growing demand for prescription sunglasses. UV radiation can damage the cornea, lens, and retina, leading to conditions such as cataracts, macular degeneration, and even cancer.
Prescription sunglasses provide 100% protection from UV rays, making them an essential accessory for protecting eye health. The rising demand for UV protection is expected to continue to drive the growth of the global prescription sunglass market in the coming years.
In addition to protecting against UV damage, prescription sunglasses also offer other benefits, such as reducing glare, improving visual clarity, and enhancing contrast. These benefits make prescription sunglasses an ideal choice for people who spend a lot of time outdoors, such as athletes, hikers, and boaters.
The growing popularity of outdoor activities and the increasing awareness of the importance of eye health are expected to continue to drive the demand for prescription sunglasses.
Increasing Adoption of Digital Devices
The increasing adoption of digital devices, such as smartphones, tablets, and laptops, has led to a growing demand for prescription sunglasses that can protect against blue light. Blue light is emitted from the screens of these devices and can damage the retina, leading to conditions such as macular degeneration.
Prescription sunglasses with blue light blocking lenses can help to protect the eyes from this damage. The growing use of digital devices is expected to continue to drive the demand for prescription sunglasses with blue light blocking lenses.
Growing Fashion Consciousness
Prescription sunglasses have become an increasingly popular fashion accessory in recent years. They are available in a wide range of styles and designs, making them suitable for a variety of tastes and preferences.
The growing fashion consciousness of consumers is expected to continue to drive the demand for prescription sunglasses. In addition to being fashionable, prescription sunglasses also offer a number of practical benefits, such as protecting the eyes from the sun and improving visual clarity.
As a result, they are becoming an increasingly popular choice for people of all ages. The growing fashion consciousness of consumers is expected to continue to drive the demand for prescription sunglasses.
Prescription Sunglass Market Segment Insights:
Prescription Sunglass Market Frame Material Insights
The Frame Material segment of the Global Prescription Sunglass Market is anticipated to grow significantly over the forecast period, driven by rising demand for stylish and functional eyewear. In 2023, the Metal frame material segment held the largest market share, generating a revenue of USD 3.2 billion, and is projected to maintain its dominance throughout the forecast period.
Metal frames are popular due to their durability, corrosion resistance, and ability to be customized in various shapes and sizes. The Plastic frame material segment is expected to witness substantial growth owing to its affordability, lightweight, and wide range of colors and patterns.
In 2023, the Plastic segment accounted for a revenue of USD 2.8 billion and is projected to grow at a CAGR of 5.2% during the forecast period. The growing popularity of sports and outdoor activities is driving the demand for lightweight and impact-resistant plastic frames.
Acetate frame material, known for its hypoallergenic properties and luxurious appearance, is expected to gain traction in the coming years. In 2023, the Acetate segment generated a revenue of USD 1.6 billion and is projected to grow at a CAGR of 4.8% during the forecast period.
The increasing demand for high-end and designer sunglasses is contributing to the growth of the Acetate segment. Titanium frame material, renowned for its exceptional strength and corrosion resistance, is gaining popularity among consumers seeking durable and lightweight eyewear.
In 2023, the Titanium segment generated a revenue of USD 0.9 billion and is projected to grow at a CAGR of 6.1% during the forecast period. The growing adoption of Titanium frames in sports and military applications is driving the segment's growth.
Overall, the Frame Material segment of the Global Prescription Sunglass Market presents a promising growth outlook, with each material type catering to specific consumer preferences and functional requirements.
Metal frames continue to dominate the market, while Plastic, Acetate, and Titanium frames are gaining popularity due to their unique advantages. The increasing demand for stylish, functional, and durable eyewear is expected to drive the growth of the Frame Material segment in the coming years.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Prescription Sunglass Market Lens Material Insights
The Global Prescription Sunglass Market is segmented by Lens Material into Glass, Polycarbonate, and CR-39. Glass lenses are the most scratch-resistant and durable, but they are also the heaviest and most expensive.
Polycarbonate lenses are lightweight and impact-resistant, making them a good choice for sports and active lifestyles. CR-39 lenses are a lightweight and affordable option, but they are not as scratch-resistant as glass or polycarbonate lenses.
In 2023, the Glass segment held the largest share of the Global Prescription Sunglass Market, accounting for over 40% of the revenue.
The Polycarbonate segment is expected to grow at the highest CAGR during the forecast period, owing to its increasing popularity in sports and active lifestyles.
The growth of the market is attributed to the increasing demand for prescription sunglasses due to rising awareness of the harmful effects of UV radiation on the eyes, growing disposable income, and increasing participation in outdoor activities.
Prescription Sunglass Market Prescription Type Insights
The Prescription Type segment of the Global Prescription Sunglass Market is segmented into Single Vision Prescription, Multifocal Prescription, and Progressive Prescription. Single Vision Prescription lenses are designed to correct nearsightedness or farsightedness.
Multifocal Prescription lenses are designed to correct both nearsightedness and farsightedness, and Progressive Prescription lenses are designed to correct nearsightedness, farsightedness, and astigmatism. The Single Vision Prescription segment accounted for the largest revenue share of the Prescription Type segment in 2023.
This is due to the increasing prevalence of nearsightedness and farsightedness, which are the most common vision problems. The Multifocal Prescription segment is expected to grow at the fastest CAGR during the forecast period due to the increasing demand for multifocal lenses from the aging population.
The Progressive Prescription segment accounted for the smallest revenue share of the Prescription Type segment in 2023, but it is expected to grow at a steady CAGR during the forecast period. The growth of the Prescription Type segment is driven by the increasing demand for prescription sunglasses from the growing population of people with vision problems.
The increasing awareness of the harmful effects of UV radiation on the eyes is also driving the demand for prescription sunglasses. The Prescription Type segment is expected to continue to grow in the future, due to the increasing demand for prescription sunglasses from the growing population of people with vision problems.
Prescription Sunglass Market Application Insights
The Global Prescription Sunglass Market is segmented into Myopia, Hyperopia, Astigmatism, and Presbyopia based on Application. Myopia segment held the largest market share of around 45% in 2023 and is expected to maintain its dominance throughout the forecast period.
The high prevalence of nearsightedness, especially among children and young adults, drives the growth of this segment. As per the World Health Organization (WHO), approximately 1.9 billion people worldwide have myopia, with the number expected to reach 2.5 billion by 2030.
The Hyperopia segment is projected to witness a significant growth rate during the forecast period due to the rising incidence of farsightedness, particularly among the elderly population.
The increasing adoption of digital devices, which can strain the eyes and lead to hyperopia, is another factor contributing to the growth of this segment. The Astigmatism segment is expected to grow steadily over the forecast period.
Astigmatism is a common vision condition that causes blurred or distorted vision due to the irregular curvature of the cornea or lens. The rising awareness about astigmatism and the availability of advanced corrective lenses are driving the growth of this segment. The Presbyopia segment is anticipated to grow at a moderate pace during the forecast period.
Presbyopia is an age-related condition that causes difficulty focusing on near objects. The increasing elderly population worldwide is a major factor driving the growth of this segment.
Prescription Sunglass Market Regional Insights
The regional segmentation provides insights into the contribution of each region to the Global Prescription Sunglass Market revenue. North America is poised to dominate the market with a significant share, attributed to rising consumer awareness, disposable income, and the presence of key industry players.
Europe holds a substantial market share owing to well-established healthcare infrastructure and favorable reimbursement policies. The APAC region is projected to exhibit robust growth, driven by increasing population, urbanization, and rising disposable income. South America and MEA are expected to witness moderate growth during the forecast period.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Prescription Sunglass Market Key Players and Competitive Insights:
Major players in the Prescription Sunglass Market industry are constantly striving to develop innovative products and technologies to gain a competitive edge. Leading Prescription sunglasses market players are investing heavily in research and development to create products that meet the evolving needs of consumers.
The Prescription Sunglass Market industry is also witnessing a growing number of strategic partnerships and collaborations between players to expand market reach and share resources. Furthermore, the Prescription Sunglass Market landscape is expected to undergo significant changes in the coming years, as new technologies and trends continue to emerge.
Luxottica Group, a leading company in the Prescription sunglasses market, is known for its strong brand portfolio, including iconic brands such as Ray-Ban, Oakley, and Persol. The company has a wide distribution network and a strong presence in both developed and emerging markets.
Luxottica Group is focused on providing high-quality eyewear products that meet the needs of a diverse range of consumers. The company also has a strong track record of innovation, having developed a number of patented technologies that enhance the performance and comfort of its products.
EssilorLuxottica, a major competitor in the Prescription Sunglass Market, is the result of a merger between Essilor and Luxottica Group. The company has a comprehensive portfolio of eyewear products, including prescription sunglasses, eyeglasses, and contact lenses.
EssilorLuxottica has a strong global presence, with operations in over 150 countries. The company is focused on providing innovative and high-quality eyewear products that meet the needs of consumers. EssilorLuxottica also has a strong commitment to sustainability and has implemented a number of initiatives to reduce its environmental impact.
Key Companies in the Prescription Sunglass Market Include:
Marchon Eyewear
Menicon
Marcolin
Kering Eyewear
EssilorLuxottica
Hoya Corporation
Alcon
Charmant Group
Johnson Johnson Vision
De Rigo Vision
Safilo Group
Luxottica
CooperVision
Bausch + Lomb
ZEISS
Prescription Sunglass Market Industry Developments
The market growth is attributed to the increasing prevalence of vision problems, rising demand for protective eyewear, and growing awareness about the harmful effects of UV radiation. Furthermore, technological advancements, such as the introduction of photochromic lenses and polarized lenses, are driving the market growth.
Additionally, the increasing popularity of outdoor activities and the growing fashion consciousness among consumers are contributing to the market's expansion. Key players in the market include Luxottica, Safilo Group, EssilorLuxottica, and Maui Jim.
Recent developments include the launch of new product lines, such as Ray-Ban's Stories smart sunglasses, and strategic partnerships between manufacturers and retailers to expand distribution channels.
Prescription Sunglass Market Segmentation Insights
Prescription Sunglass Market Frame Material Outlook
Metal
Plastic
Acetate
Titanium
Prescription Sunglass Market Lens Material Outlook
Glass
Polycarbonate
CR-39
Prescription Sunglass Market Prescription Type Outlook
Single Vision Prescription
Multifocal Prescription
Progressive Prescription
Prescription Sunglass Market Application Outlook
Myopia
Hyperopia
Astigmatism
Presbyopia
Prescription Sunglass Market Regional Outlook
North America
Europe
South America
Asia Pacific
Middle East and Africa
| Report Attribute/Metric | Details |
| Market Size 2022 | 7.74(USD Billion) |
| Market Size 2023 | 8.12(USD Billion) |
| Market Size 2032 | 12.5(USD Billion) |
| Compound Annual Growth Rate (CAGR) | 4.91% (2024 - 2032) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year | 2023 |
| Market Forecast Period | 2024 - 2032 |
| Historical Data | 2019 - 2023 |
| Market Forecast Units | USD Billion |
| Key Companies Profiled | Marchon Eyewear, Menicon, Marcolin, Kering Eyewear, EssilorLuxottica, Hoya Corporation, Alcon, Charmant Group, Johnson Johnson Vision, De Rigo Vision, Safilo Group, Luxottica, CooperVision, Bausch + Lomb, ZEISS |
| Segments Covered | Frame Material, Lens Material, Prescription Type, Application, Regional |
| Key Market Opportunities | Increased awareness, technological advancements, rising disposable income, growing elderly population, and growing prevalence of eye disorders |
| Key Market Dynamics | Growing consumer awareness, technological advancements, increasing disposable income, rising prevalence of eye disorders, and changing fashion trends |
| Countries Covered | North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The global Prescription Sunglass Market is anticipated to grow from USD 8.12 billion in 2023 to USD 12.5 billion by 2032, exhibiting a CAGR of 4.91% during the forecast period.
North America is projected to account for the largest share of the global Prescription Sunglass Market over the forecast period due to the presence of a large aging population and increasing awareness of eye health.
Rising prevalence of eye disorders, growing demand for stylish and protective eyewear, and increasing disposable income are the primary factors fueling the market expansion.
The single vision segment is anticipated to dominate the Prescription Sunglass Market throughout the forecast period, driven by the high prevalence of refractive errors.
Luxottica, Essilor, Safilo Group, Marchon Eyewear, and Kering Eyewear are among the prominent players in the Prescription sunglasses market.
The integration of advanced technologies such as augmented reality and smart lenses is gaining traction, offering enhanced functionality and user experience.
The Asia-Pacific region is poised to witness a significant growth rate of 5.2% during the forecast period, attributed to the growing middle class and rising disposable income.
Fluctuating raw material prices and intense competition from low-cost manufacturers pose challenges to market growth.
The online channel is gaining popularity due to convenience, wider product selection, and competitive pricing, leading to increased market penetration.
Expanding into emerging markets, developing innovative products, and strategic collaborations present lucrative growth opportunities for market participants.
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Senior Research Analyst With an experience of over five years in market research industry (chemicals & materials domain), i gather and analyze market data from diverse sources to produce results, which are then presented back to a client. also, provide recommendations based on the findings. as a senior research analyst, i perform quality checks (qc) for market estimations, qc for reports, and handle queries and work extensively on client customizations. also, handle the responsibilities of client proposals, report planning, report finalization, and execution
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