The global Luxury Sunglasses Market is seeing steady growth. In 2023, the market was estimated at around USD 11.68 billion and is expected to grow to USD 21.29 billion by 2032, with a CAGR of 6.90% during the forecast period. Increasing high-net-worth individuals, rising awareness related to one's health, alongside the demand for fashion accessories that display an individual's sense of style and social standing are some of the factors driving growth.
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The estimate size of the luxury sunglasses market is a clear example of the growing global demand for premium fashion items. Also, as people become increasingly cognizant of factors such as UV exposure, the market for stylish, protective sunglasses is on the rise. Moreover, the Asia-Pacific is another key region witnessing significant growth with its developing economies expanding the pool of luxury goods shoppers.
Competitor Analysis
The competition in the luxury sunglasses umbrella is cut throat with a balance of old and new companies striving to gain a foothold in the industry. Some major market participants are:
- EssilorLuxottica: Founded in 2018, this is currently the leading company in the eyewear market. They also control a number of luxury eyewear brands making them an important player in the domain.
- Safilo Group: This company is also a major shareholder in a number of luxury eyewear brands and thus dominates the sector.
- Kering: This reputed firm in the high-end fashion industry is equally noted for its power in the market of luxury sunglasses.
- De Rigo Vision: Concentrates on the manufacture of branded eyewear and has office across the world, making them internationally available.
- Marchon Eyewear: Fiercely builds up partnerships with luxurious clothing companies and thus has become a well-known name in this market.
- Marcolin: Based in Italy, this eyewear has a host of luxury brands under its name.
- LVMH: Eyewear Alagnate Group: An eyewear brands holding under a luxury goods conglomerate.
- Maui Jim: Specialized on performance sunglasses, Maui Jim serves a niche market for sports and adventure enthusiasts.
Luxury Sunglasses Global Market: Segmentation Analysis
From a macro perspective and looking at the market as a whole, this report unveils all the essential features of the Global Luxury Sunglasses Market including its details like the industry outlined: market size, competitive landscape, development trend, niche market, key market drivers and challenges, SWOT analysis, value chain analysis, and so forth.
Market Segmentation (by Type)
CR-39 Luxury Sunglasses
- CR-39 is one of the most common lenses within luxury sunglasses categories. CR-39 lenses are well known for being lightweight, durable, and relatively inexpensive. In addition, these lenses have good optical clarity as well as provide UV protection, which is why a lot of luxury eyewear manufacturers utilize them.
Polycarbonate Labeled as Luxury Sunglasses
- While taking luxury sunglasses, polycarbonate lenses are also regarded since they are impact resistant and lightweight. In the case of polycarbonate lenses, these are commonly used for luxury sunglasses meant for sports enthusiasts or people who want extra protection while looking stylish.
Polyurethane Labeled as Luxury Sunglasses
- Regarding high-end sunglasses, polyurethanes are the most preferred because to them both the quality of optics and scratches resistance are at its best. There are various options available for high end sunglasses, and these lenses are one of the top choices due to their clarity and inability to wear down over time.
By Category
- Aviator
- Round
- Oval
- Rectangular
- Others
By End Use
- Men
- Women
- Unisex
By Distribution Channel
Online
- Brand Owned Website
- Other E-Commerce Website
Offline
- Luxury Retail Stores
- Brand Flagship Store
- Others
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Key Company
- Essilor
- Safilo Group
- Kering
- Balenciaga
- Bulgari
- Calvin Klein
- Dolce & Gabbana
- Giorgio Armani
- Gucci
- LVMH
- Prada
- Ralph Lauren
Geographic Segmentation
- North America: USA, Canada, Mexico
- Europe: Germany, UK, France, Russia, Italy, Rest of Europe
- Asia-Pacific: China, Japan, South Korea, India, Southeast Asia, Rest of Asia-Pacific
- South America: Brazil, Argentina, Columbia, Rest of South America
- Middle East and Africa: Saudi Arabia, UAE, Egypt, Nigeria, South Africa, Rest of MEA
FAQ Section
1. What is the current market size of the Luxury Sunglasses market?
The Global luxury sunglasses market is projected to reach USD 21.29 billion by 2032, growing at a CAGR of 6.90%, and was valued at USD 11.68 billion in 2023.
2. Which are the key companies operating in the Luxury Sunglasses market?
Luxury sunglasses market players include EssilorLuxottica, Safilo Group, Kering, De Rigo Vision, Marchon Eyewear, Marcolin, LVMH, and Maui Jim.
3. What are the key growth drivers in the Luxury Sunglasses market?
Increased disposable income, growing concern for UV protection, usage of celebrity-brand endorsements, and improved eyewear technologies help drive growth in the market.
4. Which regions dominate the Luxury Sunglasses market?
The luxury sunglasses market is dominated by North America and Europe while the Asia-Pacific region is expected to experience the highest growth rate.
5. What are the emerging trends in the Luxury Sunglasses market?
These are emerging trends: the online shopping boom, increased sustainable eyewear demand, and growth of luxury markets in developing countries.
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