The market for sunglasses in the Philippines will continue to expand at a rapid rate in constant value terms (at 2024 prices) during the forecast period, supported by an improving economic outlook and a growing preference for luxury brands. Filipinos are becoming wealthier, thanks to a significant rise in the increase in the number of offshore services performed in the country, including the burgeoning virtual assistant industry.
Looking ahead, manufacturers are also expected to maintain their focus on technological innovation with a focus on products that are tailored to the lifestyles of consumers. While Ray-Bans meta sunglasses may not be permitted to enter the market, there is no way of stopping the wave of innovation taking place in the country.
Credit opportunities have significantly influenced consumer behaviour, especially in relation to high-end products. Sunglasses, particularly luxury brands, were previously considered an unattainable purchase by many local customers.
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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 that are darken to provide protection against bright light and possibly ultraviolet (UV) light. Photo-chromic lenses and clip-ons are excluded.
See All of Our DefinitionsThis report originates from Passport, our Sunglasses research and analysis database.
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