The global sports eyewear products market was valued at USD 28.3 billion in 2021 and is projected to expand at a CAGR of 7.3% from 2022 to 2030. Growing awareness regarding fitness and healthy lifestyle, especially among young adults, is a major factor driving the market. Additionally, increasing disposable income among households is providing consumers with the financial opportunity to purchase sports eyewear products.

The rising popularity of various outdoor sports such as skiing, snowboarding, mountain biking, and sailing has led to the growing demand for sports eyewear products, including eyeglasses, goggles, and contact lenses. Moreover, market participants are introducing new products to meet the rising demand for sports eyewear. For instance, in April 2021, Oakley launched its new eyewear, the Flight Jacket, which is designed to provide better visibility and protection from the sun.

Rising demand for protective sports eyewear products is driving the market growth. For instance, in December 2021, Nike launched its new eyewear, the Nike Flight Series, which is designed to provide better protection from the sun and wind. Additionally, increasing popularity of sports activities is further driving the demand for sports eyewear products. Moreover, rising concerns about eye health is leading to the increasing demand for sports eyewear.

The increasing inclination towards fashion and style is further driving the demand for sports eyewear. The rising demand for fashion eyewear is providing a major boost to the sports eyewear market. For instance, in April 2021, Ray-ban launched its new eyewear, the Clubmaster, which is designed for a modern and sophisticated look. Furthermore, the growing e-commerce industry is providing an impetus to the market growth. The availability of a wide variety of these products online is accelerating the demand for sports eyewear.

The sports sunglass segment dominated the market with a share of about 53.4% in 2022. The increasing awareness among people regarding the protection of eyes during outdoor activities is the key factor driving the market growth. According to an article published by the Optical Journal, in 2020, a survey was conducted to evaluate the awareness among people regarding sports sunglasses in the U.S. The survey concluded that more than 80% of people were aware of the importance of sports sunglasses for protecting eyes during outdoor activities. Furthermore, increasing participation of people in outdoor activities such as skiing, running, and swimming, etc. is further boosting the demand for sports sunglasses.

The goggles segment is anticipated to expand at the fastest CAGR of 10.6% over the forecast period. Factors such as increasing participation of people in outdoor activities, rising trend of sports and fitness, and growing awareness regarding the protection of the eyes during outdoor activities are expected to propel the growth of the segment. According to an article published by the American Academy of Ophthalmology, in 2020, more than 80% of adults believed that sports goggles are necessary for protecting the eyes during outdoor activities. Moreover, the increasing availability of sports goggles with various colors, styles, and designs is also contributing to the growth of the market.

The offline segment is expected to account for the largest market share of over 77.7% in 2022. The segment is estimated to expand at a CAGR of 8.3% during the forecast period. The availability of a wide range of sports eyewear products in offline stores, such as specialty stores, department stores, sporting goods stores, and optical stores, is expected to support the growth of the segment. Consumers prefer offline stores for purchasing sports eyewear products due to the convenience of trying and selecting the product in-store.

The online segment is expected to expand at the highest CAGR of 10.7% during the forecast period. The rising internet penetration and increasing number of e-commerce stores are expected to drive the growth of the segment. Consumers prefer online stores for purchasing sports eyewear as they offer a wide range of products, discounts, and easy payment options. Additionally, the increasing popularity of social media platforms, such as Facebook and Instagram, is expected to fuel the growth of the segment.

The prescription segment accounted for the largest revenue share of 62.3% in the year 2022. The increasing demand for eyeglasses for vision correction and the availability of prescription sports eyewear in the market are the major factors driving the segment. In addition, the rising trend of wearing protective eyewear by sportspersons due to their increasing awareness about eye injuries is propelling the market for prescription sports eyewear.

The non-prescription segment is anticipated to expand at the highest CAGR of 10.4% over the forecast period. The rising demand for fashionable sports eyewear, such as sunglasses and goggles, is driving the market. Furthermore, the availability of non-prescription sports eyewear with advanced features, such as lenses with different colors, shapes, and sizes, is increasing the demand for non-prescription sports eyewear. Companies are also launching innovative products to cater to the needs of the customers. For instance, in April 2022, Oakley, a brand of Luxottica Group, launched Flight Jacket sunglasses with a sweat-resistant coating and a lightweight frame. The product is available in a range of colors and is suitable for sports activities.

Europe held the largest share of the global market in 2022, owing to the presence of a large number of sports eyewear manufacturers and distributors in the region. Additionally, increasing sports participation, particularly among the youth, has led to the rise in demand for sports eyewear. For instance, according to the European Commission, the number of people participating in sports activities in the region rose from approximately 200 million in 2017 to more than 220 million in 2019.

Asia Pacific is expected to witness the fastest growth during the forecast period. This is attributed to the increasing number of people participating in sports activities, as well as the rising disposable income and improved lifestyle. Moreover, the presence of several sports eyewear manufacturers in the region is expected to drive the market growth. For instance, in May 2021, the Japanese company, Yonex, released a new line of sports sunglasses that are specifically designed to be used while playing tennis and badminton.

In this part of the sports eyewear products business plan, we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your sports eyewear products business. Usually, these projections are drafted for a 5-year period.

Revenue Assumptions
The main source of revenues for a sports eyewear products business comes from sales of eyewear and accessories, such as lenses, frames, sunglasses, contact lenses, and other related items. Other possible sources of profit are online sales, special promotions, and discounts.

Projecting Expenses
In this section, all the regular expenses related to keeping the sports eyewear products business running will be described. The list of operating expenses includes wages, rent, utilities, insurance policies, advertising, and others. Additionally, expenses related to product inventory should also be considered, such as acquisition costs and storage costs.

Some of the key companies operating in the sports eyewear market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:

– In July 2022, Oakley Inc. launched “Flight Jacket” sunglasses, designed to provide enhanced protection from UV rays.

– In August 2022, Adidas AG launched the “Adistar” range of eyewear, designed to provide superior protection from the sun.

– In September 2022, Nike Inc. launched the “Vaporwing” collection of eyewear, designed to provide superior performance and protection in extreme conditions.

Some of the prominent players in the sports eyewear market include:

– Oakley Inc.
– Adidas AG
– Nike Inc.
– Under Armour, Inc.
– Smith Optics, Inc.
– Tifosi Optics, Inc.
– Rudy Project
– Bollé Brands
– Uvex Group
– De Rigo Vision S.p.A.

This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global sports eyewear products market based on product type, distribution channel, and region:

1. Product Type Outlook (Revenue, USD Million, 2017 – 2030)

– Goggles
– Sunglasses
– Prescription Eyeglasses
– Contact Lenses
– Others

2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)

– Online
– Offline
– Specialty Stores
– Supermarkets & Hypermarkets
– Others

3. Regional Outlook (Revenue, USD Million, 2017 – 2030)

– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa

[Q]: What are the Major Drivers of the Sports Eyewear Market?
[A]: The major drivers of the sports eyewear market are the increasing awareness of eye protection among athletes, the growing popularity of sports, the rising disposable income of consumers, and the growing demand for stylish eyewear. The increasing number of sports events worldwide and the introduction of technologically advanced eyewear are also helping to drive the market.

[Q]: What are the Major Restraints of the Sports Eyewear Market?
[A]: The major restraints of the sports eyewear market are the high prices of sports eyewear and the lack of availability of specialized eyewear in developing countries. The lack of awareness regarding the importance of eye protection among athletes, especially in rural areas, is also a major restraint for the sports eyewear market.

[Q]: Who are the Key Manufacturers in the Sports Eyewear Market?
[A]: The key manufacturers in the sports eyewear market are Oakley, Inc., Nike, Inc., Adidas AG, Bolon Eyewear, Luxottica Group S.p.A., Marcolin S.p.A., De Rigo Vision S.p.A., and Carl Zeiss AG.

[Q]: What are the Major Regional Markets for Sports Eyewear?
[A]: The major regional markets for sports eyewear are Asia-Pacific, North America, Europe, and the Rest of the World. Asia-Pacific is expected to be the fastest-growing market for sports eyewear, due to the increasing disposable income of consumers, the rising popularity of sports, and the increasing awareness of eye protection among athletes.

[Q]: What is the Potential of Innovation in Sports Eyewear?
[A]: Manufacturers are increasingly focusing on innovation in terms of design, materials, and features of sports eyewear. They are introducing technologically advanced eyewear such as eyewear with adjustable nose pads and frames, eyewear with interchangeable lenses, and eyewear with photochromic lenses, which change color according to the light intensity. Such innovations are expected to drive the sports eyewear market over the forecast period.