LAMEA Sunglasses Market By Distribution channel (Specialty Stores, Supermarkets & Hypermarkets, Online and Others), By Frame Material (Injected, Metal, Acetate and Others), By Type (Non-Polarized and Polarized), By Design (Round, Square, Cat Eye, Oval, Aviator, Rectangle, Others), By Country, Growth Potential, Industry Analysis Report and Forecast, 2020 - 2026
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Market Report Description
The Latin America, Middle East and Africa Sunglasses Market would witness market growth of 10.6% CAGR during the forecast period (2020-2026). With the rising living standard of people, the demand for sunglasses is increasing as people want to stay updated with the ongoing fashion trend.
In addition, there are many people who prefer designer & trendy sunglasses to cope up with the changing fashion dynamics. A significant portion of the youth population is adopting fashionable sunglasses to make their fashion footprints on others and improve their look. There are many people who do not compromise on their look and influence other people for the same; this will positively impact the sunglasses market. Moreover, there is a substantial increase in the living standard of people, as now they are spending more on luxurious and fashionable accessories, which is propelling the market growth of sunglasses in the future years.
The low awareness and restricted distribution facilities in the countries like Brazil and Saudi Arabia are anticipated to register stable growth in the regional market. The distribution of the product is currently restricted to offline mediums like malls. Though, the rising uses of the internet are encouraging manufacturers to invest more in their promotional & advertisement activities. It will further create more awareness among the population regarding the product and thus driving the market growth in these regions.
The Brazil market dominated the LAMEA Oval Sunglasses Market by Country 2019, and would continue to be a dominant market till 2026. The Argentina market would witness a CAGR of 12.6% during (2020 - 2026). Additionally, The UAE market is experiencing a CAGR of 11.7% during (2020 - 2026).
The Specialty Stores market dominated the South Africa Sunglasses Market by Distribution channel 2019, thereby, achieving a market value of $65.8 million by 2026. The Supermarkets & Hypermarkets market is estimated to grow at a CAGR of 10.6% during (2020 - 2026). Additionally, The Others market is expected to witness a CAGR of 19.4% during (2020 - 2026).
Based on Distribution channel, the market is segmented into Specialty Stores, Supermarkets & Hypermarkets, Online and Others. Based on Frame Material, the market is segmented into Injected, Metal, Acetate and Others. Based on Type, the market is segmented into Non-Polarized and Polarized. Based on Design, the market is segmented into Round, Square, Cat Eye, Oval, Aviator, Rectangle, Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Prada S.p.A., Adidas AG, LVMH SE, EssilorLuxottica SA (Essilor Instruments USA), Maui Jim, Inc., Safilo Group S.p.A., De Rigo Vision S.p.A., Specsavers Optical Group Ltd., Fielmann AG (Korva SE), and Marcolin Group.
Scope of the Study
Market Segments Covered in the Report:
By Distribution channel
- Specialty Stores
- Supermarkets & Hypermarkets
By Frame Material
- Cat Eye
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Prada S.p.A.
- Adidas AG
- LVMH SE
- EssilorLuxottica SA (Essilor Instruments USA)
- Maui Jim, Inc.
- Safilo Group S.p.A.
- De Rigo Vision S.p.A.
- Specsavers Optical Group Ltd.
- Fielmann AG (Korva SE)
- Marcolin Group
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