LUXURY SUNGLASSES MARKET ANALYSIS

Market Challenges And Opportunities

MARKET DYNAMICS

• Increasing awareness about harmful effects of UV rays on the eyes is boosting demand for high quality luxury sunglasses. Excessive exposure of the eyes to UV radiation (or sunlight) causes several disease and conditions such as macular degeneration, cataract, pterygium, photokeratitis, and may also result in temporary to permanent vision lost.
• Constantly changing product offerings is a key driver for the global luxury sunglasses market growth. For every 4 to 6 months, leading companies are launching new sets of luxury sun glasses with different shapes, size, color & designs. Companies are focused on launching new products in order to expand their consumer base and demand for sunglasses designs.
• Stringent government regulations & standards imposed on sunglasses are key challenges that are expected to hamper the market growth. For instance, the U.S. Food & drug Administration (FDA) regulates sunglasses products as a medical device as they are intended to protect eyes from UV rays. The FDA regulations are,
  • Both manufacturer and U.S. Importers must register their product with FDA
  • Manufacturers must fulfill the Quality System (QS) requirements set forth In 21 CFR 820
  • The sunglasses lens must be certified as 'Impact Resistant' under 21 CFR Part 801.410