The global sports eyewear market was valued at $5.7 billion in 2019 and is projected to reach $8.9 billion by 2027, representing a compound annual growth rate (CAGR) of 7.3 percent from 2021 to 2027, according to a new report by Allied Market Research. Key growth drivers will include a rising awareness of eye protection, increased participation in sports and fitness activities, and a rise in outdoor recreational activities.
By product, the sports sunglasses segment held the highest market share in 2019, accounting for more than half the global sports eyewear market revenues. This segment is estimated to maintain its leadership status during the forecast period. However, the prescription sports eyeglasses segment shows the fastest CAGR of 8.4 percent throughout the forecast period.
By end user, the men’s segment held the highest market share in 2019, accounting for more than half of the global sports eyewear market share. It is projected to maintain its leadership status throughout the forecast period. Meanwhile, the women segment is expected to witness the fastest CAGR of 7.7 percent during the forecast period as more women participate in a broader range of sports.
By region, North America held the highest market share in terms of revenues in 2019 and is projected to maintain its leadership through 2027. Asia-Pacific is projected to witness the fastest CAGR of 9.2 percent during the forecast period due to the population’s continued participation in a wide variety of outdoor activities and sports.
By mode of sale, the retail store segment held the highest market share in 2019, accounting for more than two-thirds of the global sports eyewear market revenues. It is estimated that it will maintain its leadership status during the forecast period. The online stores segment is expected to witness the fastest CAGR of 8.1 percent during the forecast period, though, driven by the ease of virtual buying and the ability to compare products and pricing, said the report.
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