Sunglasses is expected to recording dynamic retail volume growth over the forecast period, with actual volume sales set to exceed pre-pandemic levels by the end of 2023. Nonetheless, unlike spectacles, sunglasses are not perceived as a necessity by most consumers, with many people still putting off new purchases due to the economic impact of COVID-19 pandemic.
While the recovery of domestic and international tourism will play a key role in the future of sunglasses, investment in innovation and product positioning will also be notable factors in driving growth. Brands will likely seek to drive growth by tailoring sunglasses to the lifestyles of modern, particularly younger, consumers.
High-end brands like Prada, Dior, Louis Vuitton and Gucci will likely remain the most popular luxury brands because of their use of high-tech materials and stylish designs. In addition to this, functional and durable lenses are also another important feature of luxury branded sunglasses.
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Understand the latest market trends and future growth opportunities for the Sunglasses industry in Philippines with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Sunglasses industry in Philippines, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Sunglasses may be made with either prescription or non-prescription lenses. Photo-chromic lenses and clip-ons are excluded.See All of Our Definitions
This report originates from Passport, our Sunglasses research and analysis database.
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