The global sports eyewear market size is expected to reach USD 11.40 billion by 2025 registering a CAGR of 4.4%, according to a new report by Grand View Research, Inc. Rising demand for lightweight goggles or sunglasses with dynamic designs is expected to be a key growth-driving factor for the market. The market is also driven by the shifting customer preferences owing to increasing awareness about safety during sports and physical activities. Customer acceptance for several types of safety, as well as fashionable, eyewear is fueling the demand further.
In addition, rising awareness about the benefits of using sports eyewear during outdoor sports, physical activities is likely to contribute to the demand. Europe was the largest regional market in 2018 and accounted for a global share of 34.8%. Asia Pacific is expected to be the fastest-growing regional market with a CAGR of 5.4% from 2019 to 2025. Major companies are entering the lucrative markets of APAC region, such as India and China, to gain competitive edge and increase product penetration. For instance, in March 2019, Under Armour, Inc. opened retail outlet in India. According to the company, the country has huge growth potential owing to shifting focus of customers on health and wellness.
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Further key findings from the study suggest:
- In terms of revenue, ski sports is projected to be the fastest-growing application segment at a CAGR of 4.9% from 2019 to 2025
- Offline distribution channel segment led the global sports eyewear market in 2018 and accounted for a volume share of 63.52%
- Europe was the dominant regional market in 2018 and is likely to maintain its position throughout the forecast period
- This growth is attributed to the rising awareness about health and wellness in countries including Germany, U.K., and France, which is promoting the spending on adventure sports including water sports and trekking
- Key companies in the market include Luxotica Group SpA; Nike, Inc.; Adidas AG; Xenith, LLC.; Carl Zeiss AG; Marchon Eyewear, Inc.; MYKITA GmbH; Under Armour, Inc.; First Rank Co. Ltd.; Zoggs International Ltd.; Aqua Lung International; and Speedo International
Grand View Research has segmented the global sports eyewear market on the basis of application, distribution channel, and region:
Sports Eyewear Application Outlook (Revenue, USD Million, 2015 - 2025)
- Outdoor Sporting & Traveling
- Water Sports
- Ski Sports
- Others
Sports Eyewear Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
- Offline
- Online
Sports Eyewear Regional Outlook (Revenue, USD Million, 2015 - 2025)
- North America
- Europe
- Asia Pacific
- Central & South America
- Middle East & Africa
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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