Global Cycling Sunglasses Market by Product Type (Polarized and Non-polarized), By Gender (Men, Women, and Kids), By Distribution Channel (Online Sports Specialists, Online Sports Generalists, and Traditional Offline Retailers), By Region, and Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2021-2031
- Published date: Dec 2023
- Report ID: 31434
- Number of Pages: 378
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Market Overview
The Global Cycling Sunglasses Market size is expected to be worth around USD 1.7 Billion by 2033, From USD 1 Billion by 2023, growing at a CAGR of 5.50% during the forecast period from 2024 to 2033.
Sunglasses are a form of protective eyewear, that shields an individual’s eyes from UV light, bright sunlight, as well as high-energy visible light. These accessories also prevent damage to the eyes from various particles in the air, such as dirt, dust, and other projectiles. Sunglasses may also be used for various purposes apart from general eye protection, such as for purposes related to fashion, sports, and eyesight correction.
Sunglasses are also informally known as shades or glares. Long-term exposure to ultra-violet light can increase the risk of various eye ailments, such as cataracts, myopia, keratitis, dry eyes, etc., However, wearing sunglasses blocks UV rays, thereby reducing the risk of any aforementioned disorders to a significant extent.
Increasing concerns about the protection of cyclists’ eyes from UV rays and other particles in the air, coupled with trending fashionable designs that further complement the ensemble of a rider, are some of the primary factors that are expected to bolster the revenue growth of this global market.
In addition, high sponsorships for cycling events, along with paid promotions by various companies to garner a greater number of customers are also factors that are expected to further boost the profit margins of the global cycling sunglasses market in the years to come.
Segmentation of the global cycling sunglasses market is as follows – product type, gender, distribution channel, & region. Based on product type, the market is further categorized into polarized and non-polarized. The polarized segment is expected to account for the majority revenue share of his sector. In terms of gender, the market is segmented into men, women, and kids.
Key Takeaways
- Market Growth: The Cycling Sunglasses Market anticipates steady growth, projected to increase from USD 1 billion in 2023 to USD 1.7 billion in 2032, demonstrating a Compound Annual Growth Rate (CAGR) of 5.50%.
- Regional Dominance: Europe emerges as the dominant region, commanding a substantial 33.6% share, indicating significant market presence and demand within the European market.
- Segmentation Insights:
- Type Preference: Men’s Cycling Sunglasses lead with a significant 46.6% share, highlighting their popularity among male cyclists.
- Product Type: Polarized sunglasses dominate with a substantial 85.6% share, emphasizing their preference due to glare reduction during cycling activities.
- Distribution Channel: Offline channels hold dominance with a majority 71.6% share, indicating a significant portion of sales occurs through physical retail outlets.
Market Dynamics and Industry Analysis
- Steady Market Growth: The market displays consistent growth dynamics, influenced by the rising demand for specialized sunglasses among cyclists for enhanced vision and eye protection.
- European Market Dominance: Europe’s dominance signifies a strong market landscape and substantial demand for cycling sunglasses within European countries.
- Polarized Sunglasses Preference: The prevalence of polarized sunglasses highlights their effectiveness in reducing glare, catering to cyclists’ specific needs during rides.
This analysis underscores the Cycling Sunglasses Market’s steady growth trajectory, driven by regional dominance in Europe, consumer preferences for specific types and features of sunglasses, and the prevalence of offline retail channels in sales. The consistent growth rate and segmentation dominance signal a stable market with the potential for sustained expansion and continued relevance in the cycling gear industry.
Driving Factors
The Cycling Sunglasses Market thrives due to various driving factors. Increased participation in cycling activities fuels demand for specialized eyewear, promoting eye protection and enhancing performance. Technological advancements, like polarized and photochromic lenses, offer glare reduction and adaptability to changing light conditions, influencing consumer choices.
Fashion trends play a role, with sleek and sporty designs appealing to cyclists seeking style and functionality. Growing awareness of eye health and UV protection further propels market growth. Additionally, endorsements from professional athletes and the rise of outdoor fitness activities encourage the adoption of cycling sunglasses, driving the market’s expansion among enthusiasts and casual riders alike.
Restraining Factors
The Cycling Sunglasses Market encounters restraining factors impacting its growth. Intense competition from established and emerging eyewear brands limits market penetration.
High manufacturing costs for specialized lens technologies and durable frames often result in elevated retail prices, deterring some consumers. Limited disposable income and discretionary spending amid economic uncertainties affect purchasing decisions for premium eyewear.
Additionally, style preferences varying across regions pose challenges in offering universally appealing designs. Concerns regarding comfort and fit for different face shapes also influence buying choices, impacting market expansion. These factors collectively hinder the widespread adoption and sustained growth of the cycling sunglasses market.
Growth Opportunities
The Cycling Sunglasses Market holds growth opportunities amidst challenges. Advancements in lens technology, such as improved polarization and transition capabilities, cater to evolving consumer needs for clarity and adaptability, fostering market expansion. Expansion into emerging markets with rising cycling cultures offers untapped potential.
Customization options, including interchangeable lenses and adjustable frames, enhance user experience, attracting diverse consumer segments. Collaborations with professional athletes and endorsements amplify brand visibility and credibility, driving market penetration.
Moreover, the integration of sustainable materials and eco-friendly practices aligns with consumer preferences for environmentally conscious products, presenting avenues for sustained growth in the cycling sunglasses industry.
Trending Factors
In the Cycling Sunglasses Market, several trending factors influence consumer choices and industry trends. Advanced lens technologies, like photochromic and interchangeable lenses, adapt to varying light conditions, appealing to cyclists seeking versatile eyewear. Lightweight and durable frame materials, coupled with aerodynamic designs, cater to performance-driven cyclists.
Fashion trends merge with functionality, emphasizing stylish yet protective eyewear, and influencing consumer preferences. Increased emphasis on eye health and UV protection drives the demand for sunglasses with superior UV-blocking capabilities. Additionally, the integration of smart features, such as Bluetooth connectivity for audio or fitness tracking, represents a burgeoning trend, shaping the evolving landscape of cycling sunglasses.
Key Market Segments
Based on Product Type:
- Polarized
- Non-Polarized
Based on Gender:
- Men
- Women
- Kids
Based on the Distribution Channel:
- Online Sports Specialists
- Online Sports Generalists
- Traditional Offline Retailers
Product Analysis
In the Cycling Sunglasses Market, product analysis unveils diverse offerings catering to cyclists’ varied needs. Performance-focused sunglasses feature specialized lens coatings for enhanced visibility and reduced glare, vital for professional and enthusiast cyclists.
Lightweight and aerodynamic designs prioritize speed and agility, ideal for competitive cycling. Fashionable yet functional eyewear incorporates polarized lenses and UV protection, appealing to casual riders. Adjustable nose pads and interchangeable lens options offer versatility for changing light conditions.
Moreover, specialized features like anti-fog coatings and vented frames cater to all-weather cycling. The market showcases a range of sunglasses, that align with different cycling styles and preferences, catering to a broad spectrum of cyclists.
By Distribution Channel
The Cycling Sunglasses Market employs various distribution channels to reach consumers. Retail stores, including specialty sports shops and cycling stores, offer a hands-on experience, allowing customers to try different models. Online platforms, like e-commerce websites and brand stores, provide convenience and a vast product range, appealing to tech-savvy shoppers.
Direct sales through brand outlets or company websites ensure product authenticity and personalized services. Additionally, partnerships with cycling events, sports clubs, and sponsorships enhance visibility and direct access to target audiences. Each channel serves different consumer preferences, contributing to the market’s accessibility and catering to diverse shopping habits among cyclists.
Regional Analysis
The Cycling Sunglasses Market exhibits diverse regional trends influencing consumer preferences. North America boasts a robust market, prioritizing advanced technologies and performance-driven designs suited for avid cyclists. In Europe, a fusion of style and functionality defines the market, emphasizing chic yet functional eyewear appealing to casual and enthusiast cyclists.
Asia-Pacific experiences growth due to burgeoning cycling trends, necessitating durable and versatile sunglasses that balance practicality and aesthetics. Latin America showcases an emerging interest in cycling sports, demanding affordable yet durable eyewear. The Middle East & Africa reflect an evolving market, witnessing a rising inclination towards outdoor activities and gradually increasing demand for protective and fashionable cycling sunglasses.
Key Regions and Countries Covered in the Report:
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Russia
- Spain
- Rest of Europe
- APAC
- China
- Japan
- South Korea
- India
- Rest of Asia-Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- MEA
- GCC
- South Africa
- Israel
- Rest of MEA
The men’s segment is expected to account for the majority of revenue share, followed by the women’s segment. In terms of distribution channels, this market is segmented into online sports specialists, online sports generalists, and traditional offline retailers. The online sports generalists segment is expected to have the highest CAGR.
The cycling sunglasses market is segmented region-wise into North America, Europe, Asia-Pacific, South America, and the MEA, respectively. Among these aforementioned regions, the markets in the Europe segment are expected to index the highest number of revenue shares over the forecast period.
Leading Key Market Players included in the report:
- Babolat VS S.A.
- Amer Sports
- HEAD Sport GmbH
- Luxilon Industries NV
- Prince Sports, Inc.
- Gamma Sports
- Yonex Co., Ltd.
- Ashaway Line & Twine Mfg. Co.
- Société Nouvelle Télésiège
- Völkl Tennis GmbH
- Solinco Sports LLC
- Pacific Holding GmbH
Report Scope:
Report Features Description Market Value (2023) USD 1 Billion Forecast Revenue (2032) USD 1.70 Billion CAGR (2023-2032) 5.50% Base Year for Estimation 2023 Historic Period 2016-2023 Forecast Period 2024-2033 Report Coverage Revenue Forecast, Market Dynamics, COVID-19 Impact, Competitive Landscape, Recent Developments Segments Covered Based on Product Type(Polarized, Non-Polarized), Based on Gender(Men, Women, Kids), Based on the Distribution Channel(Online Sports Specialists, Online Sports Generalists, Traditional Offline Retailers) Regional Analysis North America: The US and Canada; Europe: Germany, France, The UK, Italy, Spain, Russia & CIS, and the Rest of Europe; APAC: China, Japan, South Korea, India, ASEAN, and the Rest of APAC; Latin America: Brazil, Mexico, and Rest of Latin America; Middle East & Africa: GCC, South Africa, United Arab Emirates, and Rest of Middle East & Africa. Competitive Landscape Babolat VS S.A., Amer Sports, HEAD Sport GmbH, Luxilon Industries NV, Prince Sports, Inc., Gamma Sports, Yonex Co., Ltd., Ashaway Line & Twine Mfg. Co., Société Nouvelle Télésiège, Völkl Tennis GmbH, Solinco Sports LLC, Pacific Holding GmbH Customization Scope Customization for segments, region/country-level will be provided. Moreover, additional customization can be done based on the requirements. Purchase Options We have three licenses to opt for: Single User License, Multi-User license (Up to 5 Users), Corporate Use License (Unlimited User and Printable PDF) Frequently Asked Questions (FAQ)
What is the Cycling Sunglasses Market Size in the Year 2023?The Global Cycling Sunglasses Market size was USD 1 Billion by 2023, growing at a CAGR of 5.50%.
What is the Cycling Sunglasses Market Estimated CAGR During the Forecast Period?The Global Cycling Sunglasses Market size is growing at a CAGR of 5.50% during the forecast period from 2024 to 2033.
What is the Cycling Sunglasses Market Size Estimated During the Forecast Period?The Global Cycling Sunglasses Market size is expected to be worth around USD 1.7 Billion during the forecast period from 2024 to 2033.
- NIKE Inc
- Luxottica Group Spa (Oakley Inc.)
- Decathlon Group
- Under Armour Inc.
- Shimano Inc.
- Uvex Group (Uvex Sports GmbH & Co.)
- Rapha Racing Limited
- Kopin Corporation
- POC Sports
- Rudy Project Spa
- ASSOS of Switzerland GmbH
- Tifosi Optics Inc.
- KASK America Inc.
- Others
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