The roaring Twenties are back and characterised not by swing music and Champagne, but summer travel and sexy accessories. Jai Breitnauer takes stock of the latest eyewear trends as we head into summer.
Post-pandemic recovery is in full-swing for the global sunglasses market. People are ramping up their holiday plans after the World Health Organisation’s May 2023 announcement that the pandemic is officially over. With travel restrictions almost relaxed to pre-pandemic levels and consumer confidence at its highest since 2019, holidays are on everyone’s mind. This is reflected by the upturn in the market, with the travel industry’s global value almost back to pre-pandemic levels, and exceeding previous records in places like Asia-Pacific!
This buoyant mood is translating to the eyecare world too, with new predictions by Market Watch forecasting it will almost double in value within the next five years to US$52.61bn by 2028, compared with an estimated US$29.33bn in 2023. So this is the year to get your sunglasses sales strategy right and invest in this growth area.
Prescription sunglasses, particularly, are having a renewed boom in popularity, according to the organisation Reports and Data. In 2022, it valued the global market at US$18.1bn but is now predicting it to reach US$30.4bn by 2032. The driving factors are said to be increased public awareness about the need for UV protection and the rising incidence of conditions such as cataracts and glaucoma. Additionally, the rising incidence of myopia in young people is driving not only the demand for prescription sunglasses but the market for fashion-forward prescription frame designs too.
On the lens side, resin-lens sunglasses have the biggest market share worldwide at 85%, according to Market Watch. Lightweight, thin and more impact resistant than other materials, they represent a good investment for consumers looking for a hardwearing product with multiple applications.
