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- Number of pages : 30 pages
- Format : Digital and PDF versions
- Last update : 05/06/2023
Summary and extracts
1 Market overview
1.1 Definition and presentation
Sunglasses are tinted spectacles whose main function is to reduce the impact of the sun on the eyes. As well as providing protection from the sun, they can also be corrective, correcting a person's eyesight. A must-have fashion accessory in summer, sunglasses are driven by the growing use of eyewear in general, as well as by fashion trends that encourage people to renew their existing eyewear.
Worldwide, the sunglasses market represents around 17% of the total optical market (prescription glasses, contact lenses, etc.). The market is growing fast, and French and Italian brands have a strong presence in the high-end segment. In Europe, the Danes have the highest annual expenditure on sunglasses, with an average of $35 a year, followed by the Finns ($33), the Austrians ($31) and the Irish ($26).
In Spain, the sunglasses market is significantly more important than in the majority of developed countries, thanks to a climate conducive to its use and historically high levels of tourism. In 2019, frames and sunglasses accounted for 34.7% of total optical market volumes in the peninsula. The phases of confinement and drastically reduced tourist arrivals, however, resulted in a drop in activity of over 15% in 2020, before recovery began in 2021.
1.2 A growing global market
Worldwide, sunglasses will account for **.*% of total eyewear sales in ****of total eyewear sales (***) for a total of $**.* billionand a forecast CAGR in value over the period ****-**** of *.*% [***].In ****, *** million sunglasses were sold worldwide.
In contrast to the stagnant French market, worldwide sales of sunglasses grew by*% between **** and ****. It ...
1.3 The domestic market
The optical market
The sunglasses segment is part of the optics market. In ****, the sector in Spain recorded sales of *.** billion euros, an increase of *.*% on the previous year.
Despite the recovery in ****, the sector has not yet returned to pre-pandemic levels, following the collapse in consumption caused by the Covid-** ...
1.4 Foreign trade in sunglasses
Foreign trade in sunglasses is on an upward trend, despite the downturn caused by the pandemic. The pandemic has also helped to rebalance the coverage rate somewhat: from **% to **% between **** and ****.
Foreign trade in sunglasses Spain, **** - ****, in millions of dollars Source: ****
The chart above illustrates trade in sunglasses in Spain. ...
2 Demand analysis
2.1 Sunshine and tourism, the main drivers of demand
In Spain, the market for sunglasses is much larger than in most developed countries, thanks to the favorable climate and historically high levels of tourism.
Plenty of sunshine
Spain is one of the sunniest countries in Europe, which makes it a great place to buy sunglasses. In fact, * of the top ...
2.2 Growing interest in sunglasses
Cyclical demand
It's natural that demand for sunglasses is greater in summer than in winter, when there's a lot of sunshine. We can gauge consumer interest in sunglasses by looking at the Google Trends index for the terms "gafas de sol" in Spain. This shows a real seasonality of demand, with ...
2.3 Sunglasses usage habits
In Spain, **.*% of the population use sunglasses frequently. Only *% never use them, and *.*% rarely. The use of sunglasses also depends on the activity and exposure to the sun's rays. For example, activities on the beach or in the mountains lead to greater use of protective lenses, while sporting activities make their ...
3 Market structure
3.1 Value chain and production
Below is a possible value chain for the sunglasses market:
Conception and design: Sunglass manufacturers conceive and design frames and lenses according to fashion trends, technological advances and quality requirements. Manufacturing: Manufacturers produce sunglass frames and lenses on a large scale, using materials such as metal, plastic, wood or titanium. Marketing ...
3.2 Distribution
The channels preferred by Spaniards
The most popular channels for buying sunglasses in Spain are optical stores, since they offer sufficient quality and a wide range of models. Next come specialized sunglass boutiques, and finally online sales, which have seen unprecedented growth in recent years.
Which distribution channel do you prefer ...
4 Offer analysis
4.1 Offer typology
The sunglasses market is characterized by a highly diversified offering. In fact, the different characteristics of sunglasses offer a number of distinctive features that are exploited by manufacturers. First and foremost, sunglasses are distinguished according to their sun protection. There are * different categories of protection:
Category *: provides no protection against the ...
4.2 Price disparity: a reflection of heterogeneous supply
The price of sunglasses varies widely, depending on the range, brand and materials used. Nevertheless, the general trend is for sunglasses prices to rise (***).
Sunglasses price trends Spain, ****-****, in euros Source: Modae The average selling price of sunglasses in Spain in **** will be **.** euros. The transition from production to distribution ...
5 Regulations
5.1 Legislation and recommendations
The European Consumer Centre in Spain (***) reminds us of the importance of protecting our eyes from the harmful effects of the sun by wearing safe sunglasses. Recommendations are provided for the purchase of sunglasses that comply with current regulations and offer adequate protection.
It is advisable to buy sunglasses from reputable ...
6 Positioning the players
6.1 Segmentation
- CECOP
- Essilor Luxottica groupe
- Afflelou
- Krys Group
- Optical Center
- Ray-Ban (EssilorLuxottica)
List of charts
- Top 10 spending per head in the sunglasses market
- Global market size for sunglasses
- Optical sector sales
- Breakdown of sales by product type
- Foreign trade in sunglasses
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Latest news
BBGR boosts Seine-et-Marne capacity by 30% to keep pace with growth in Nikon optical lenses - 30/03/2024
- - BBGR is a subsidiary of EssilorLuxottica.
- - The company has specialized in optical lenses for over 170 years.
- - BBGR will increase capacity at its Provins site by 30% from April.
- - The Provins site employs 235 people.
- - The aim of this capacity increase is to meet strong demand for Nikon lenses, produced at Provins since 2016.
- - Since 2016, volumes of Nikon lenses manufactured at Provins have increased 15-fold.
Krys Group puts the finishing touches to the modernization of its Bazainville plant - 08/03/2024
- -Investment in expansion and modernization program: 23 million euros
- - Post-renovation manufacturing capacity increase: 30%
- - Planned production capacity: 1.8 million units per year
- - Krys Group sales in 2023: €1.265 billion
- - Number of associates: around 900, representing 1,600 points of sale
- - Supplying around a thousand independent opticians
- - Krys Group plans to open 400 additional stores by 2028.
EssilorLuxottica passes the €25 billion sales mark - 15/02/2024
- In 2023, the company spent 1.7 billion euros on R&D between 2020 and 2022, in particular to develop connected and/or hearing glasses. Before the summer, the company will inaugurate an optics laboratory (300 employees) in Wissous (Essonne). In the second half of 2024, its first hearing glasses will be marketed in the United States.
- The product potentially concerns the 1.25 billion people affected by mild hearing loss.
- To integrate a miniature hearing aid into a pair of glasses, the company acquired the Israeli start-up Nuance in 2022.
- Its brand portfolio has expanded to include Moncler, Jimmy Choo, Brunello Cucinelli and Ferrari licenses.
- 18,000 directly-operated stores in 150 countries, including 1,000 in France.
Krys group: innovations for the ecological transition - 06/02/2024
- Codir, a subsidiary of Krys Group, grouping together its industrial and logistics activities, will produce 1.4 million lenses by 2021
- The subsidiary employs 330 people
- Krys Group generates sales of 1.2 billion euros, and has 1,533 stores in France, as well as around 50 in Belgium, Poland and Morocco.
- With its two other banners, Le Collectif des lunetiers and Lynx Optique, the Group has a 16.5% market share in France.
- Its ambition is to open a further 400 outlets by 2028.
- Over the past ten years, it has expanded into the hearing sector, with 277 centers.
EssilorLuxottica integrates a hearing aid into its glasses - 09/01/2024
- Launch of "Nuance" glasses that act as hearing aids.
- Microphones camouflaged in the frames enable the wearer to concentrate on and amplify the voice of the person speaking
- First equipment with virtually invisible hearing aids
- While 1.6 billion people worldwide suffer from hearing loss, this figure is expected to rise to 2.5 billion by 2050
- Nuance Audio glasses, which will be available in three models, will be sold by hearing aid practitioners, in EssilorLuxottica's distribution network (18,000 stores) and on the Internet.
- Acquisition of Israel-based Nuance Hearing, which has developed a small tabletop device that amplifies sound
Afflelou innovates: discount, private labels and teleconsultation - 04/12/2023
- Brand stores grew by 5% in the fiscal year to July 31, to 876 million euros, of which 64% in France, 26% in Spain and 10% in other countries such as Switzerland and Belgium.
- In France, performance in the optical sector was 6.4%, outperforming the market, which grew by 4.1%.
- The family increased its shareholding to 30% with the purchase of the Apax Partners fund's stake.
- Optical eyewear accounts for 92% of sales, while hearing aids account for just 8%.
- Of the group's 1,440 outlets, 510 are equipped with a dedicated hearing aid area.
- The company has set up teleconsultation booths in 180 stores, with 10,000 teleconsultations to be carried out by 2023.
- Prescription optical sales account for 82% of business.
- An identified potential of 150 new units in France and 75 in Spain, and an increase of 45 openings in one year.
- Afflelou's own-brand products already account for 60% of the offering.
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the sunglasses market | Spain
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