The global plano sunglasses market size is poised to grow by USD 4.52 billion during 2020-2024, progressing at a CAGR of over 5% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.

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Technavio has announced its latest market research report titled Global Plano Sunglasses Market 2020-2024 (Graphic: Business Wire)

Functional and technological advances in Plano sunglasses are fueling market growth. Vendors are focusing on R&D to innovate and expand their product portfolios. The new products are lightweight, highly durable, and have enhanced coating. The latest Plano sunglasses frames are made from a variety of materials such as wooden and 3D impressions. These beneficial features are boosting sales. Apart from expansion of product portfolios, vendors are adding additional features for product differentiation. For instance, Ray-Ban offers the Chromance range of sunglasses, which comes with a special six-layer anti-reflection treatment that helps in maximizing the contrast. Such advances in Plano sunglasses technology will significantly fuel sales of vendors, driving the Plano sunglasses market growth.

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Report Highlights:

  • The major plano sunglasses market growth came from offline distribution channel. Offline distribution channels generate revenue from the sales of products through specialty, department, and optical stores. Vendors are increasingly opening new stores in local and regional markets to fuel sales. Moreover, to sustain a competitive market, retailers are adopting new business strategies such as better pricing, assortment strategies, omni-channel commerce, and multi-marketing strategies.

  • North America was the largest market for Plano sunglasses in 2019, and the region will continue to offer maximum growth opportunities to market vendors during the forecast period. The rising household income, increasing demand for high-quality eyecare products, and technological advancements are some of the significant factors that will contribute to the Plano sunglasses market share growth.

  • The global plano sunglasses market is moderately fragmented. Carl Zeiss AG, De Rigo Spa, EssilorLuxottica, Fielmann AG, Kering SA, LVMH Moët Hennessy – Louis Vuitton, Marcolin Spa, Rodenstock GmbH, ROKA Sports Inc., and Safilo Group Spa. are some of the major market participants. To help clients improve their market position, this Plano sunglasses market forecast report provides a detailed analysis of the market leaders.

  • As the business impact of COVID-19 spreads, the global Plano sunglasses market 2020-2024 is expected to have Negative and Inferior growth. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.

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Increasing Demand for Premium Plano Sunglasses will be a Key Market Trend

The increasing demand for premium Plano sunglasses is one of the significant Plano sunglasses market trends. Endorsements of brands such as Burberry, Tom Ford, and GUCCI by celebrities are playing a crucial role in driving sales of premium products. Despite the low-volume sales of mass products, increasing consumer expenditure on premium brands will prove beneficial. Furthermore, vendors offer loyalty programs to attract prospective customers and create a target customer base. Moreover, digital marketing is emerging as an effective means of product promotion and campaigns, helping vendors in gaining customer traction. Online marketing is not only providing customers with easy access to premium sunglasses but is also helping vendors in reducing their operational costs.

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Plano Sunglasses Market 2020-2024: Key Highlights

  • CAGR of the market during the forecast period 2020-2024

  • Detailed information on factors that will assist Plano sunglasses market growth during the next five years

  • Estimation of the Plano sunglasses market size and its contribution to the parent market

  • Predictions on upcoming trends and changes in consumer behavior

  • The growth of the Plano sunglasses market

  • Analysis of the market’s competitive landscape and detailed information on vendors

  • Comprehensive details of factors that will challenge the growth of Plano sunglasses market vendors

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PART 01: EXECUTIVE SUMMARY

PART 02: SCOPE OF THE REPORT

PART 03: MARKET LANDSCAPE

PART 04: MARKET SIZING

PART 05: FIVE FORCES ANALYSIS

PART 06: MARKET SEGMENTATION BY DISTRIBUTION CHANNEL

  • Market segmentation by distribution channel

  • Comparison by distribution channel

  • Offline – Market size and forecast 2019-2024

  • Online – Market size and forecast 2019-2024

  • Market opportunity by distribution channel

PART 07: CUSTOMER LANDSCAPE

PART 08: GEOGRAPHIC LANDSCAPE

  • Geographic segmentation

  • Geographic comparison

  • North America – Market size and forecast 2019-2024

  • Europe – Market size and forecast 2019-2024

  • APAC – Market size and forecast 2019-2024

  • South America – Market size and forecast 2019-2024

  • MEA – Market size and forecast 2019-2024

  • Key leading countries

  • Market opportunity

PART 09: DECISION FRAMEWORK

PART 10: DRIVERS AND CHALLENGES

  • Market drivers

  • Market challenges

PART 11: MARKET TRENDS

  • Use of Plano sunglasses as a fashion product

  • Increase in premium Plano sunglasses demand, marketing initiatives, and loyalty programs

  • Expansion of distribution network

PART 12: VENDOR LANDSCAPE

  • Overview

  • Landscape disruption

  • Competitive scenario

PART 13: VENDOR ANALYSIS

PART 14: APPENDIX

PART 15: EXPLORE TECHNAVIO

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View source version on businesswire.com: https://www.businesswire.com/news/home/20201008005389/en/

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