You are here
Global Luxury Eyewear Market – by Product, Sales Channel, Region - Market Size, Demand Forecasts, Company Profiles, Industry Trends and Updates (2018 - 2025)
Luxury Eyewear Market – Segmented by Product, Sales Channel, Region | Market Size, Growth, Drivers, Trends, Industry Structure and Forecasts, Competitive Intelligence, Company Profiles | MarkGenes
Luxury eyewear also known as eyeglasses are devices consisting of glass or hard plastic lenses mounted in a frame that holds them in front of a person’s eyes. Sunglasses are often used as casual wear or party wear as a matching item for a variety of outfits. These types of eyewear are worn purely for fashion or aesthetic purposes.
The global luxury eyewear market was USD 19.11 billion in 2018 and is estimated to reach USD 24.53 billion in 2025 at a CAGR of 3.63% during the forecast period
Growth by Region
North America followed by Europe accounted for the largest market share with over 40% share in 2018 owing to the large number of urban population increasingly buying sunglasses to cater to their fashion needs which thus makes them choose luxury eyewear based on the latest trends in the region. Asia Pacific, on the other hand, is also one of the lucrative markets for luxury eyewear due to the development of innovative and designer products coupled with enhanced living standards of consumers in the region.
Drivers vs Constraints
The market is mainly driven by the increased awareness among the urban population on the dangers of UV exposure coupled with the technological advancements. This has resulted in the manufacture of several new designs with better aesthetic appeal, style and quality. However, the growth of the market is hindered by low disposable income in certain developing countries coupled with less awareness among developing nations regarding the adverse effect of UV radiation on their eyes.
Industry Trends and Updates
Oakley, an American-based company which designs, develops and manufactures men’s and women’s sunglasses have used a revolutionary lens technology in sunglass lenses called Prizm, which helps in optimizing the performance by offering ultra-precise color tuning designed especially for specific environments.
Essilor, a France-based company and a global leader in ophthalmic optics had launched a first of its kind mobile website in the US called flashframes.com which is designed to instantly connect consumers with the eyewear products such as sunglasses that they are looking for and buy them on the spot.
Browse other Consumer Goods and Services reports at: https://markgenes.com/industry-reports/consumer-goods-and-services
MarkGenes Business Consulting
2nd Floor, Aditya Enclave,
Hyderabad - 500033
MarkGenes is a Market Intelligence and Business Consulting firm with Market Research as its core combining unparalleled experience, comprehensive capabilities across all industries and business functions while putting together the teams with strong functional knowledge and technical expertise.
Syndicate Research Reports
Our syndicated market research reports provide detailed coverage and market intelligence on categories of various industries. These reports are focused for broader industry audience for market traction. Latest happenings are tracked by our category specialists and are updated / modified every year, these updates are sent to the purchased client on a quarterly basis till one year of purchase.
Customized Research Reports
Our customized market research reports are a requirement from a specific client which focus on a specific agenda. Our industry contacts with experts, coupled with internal category specialists ensure that the requirement is fulfilled. Our quick turnaround time means the client will have enough buffer time to take understand and take necessary actions.