The luxury eyewear market is on track to record significant growth for the period 2021 – 2027 due to the rapid rise in the High Net-Worth Individual (HNI) population in emerging economies, coupled with a preference towards individual style and customization options. Celebrity influencers, the prominence of social media promotion, rapid adoption of digital technology, and a willingness to experiment with the latest fashion trends bring new customers into the luxury eyewear market fold. The HNI population tends to purchase eyewear with ample personalization, superior quality, exclusive building materials, and designer and special editions. Growing tourism in shopping hubs such as Japan, the UAE, France, Thailand, and Switzerland has been responsible for the growth in luxury shopping. European countries in particular, are home to a large number of fashion brands, boosting the Europe luxury eyewear market.
The Global Luxury Eyewear Market is expected to grow at a CAGR of
+3% during the forecasting period, 2021 -2027
The growing demand for high-end eyewear among consumers in European countries such as Germany, UK, France, and Spain is growing significantly propel the demand of the global luxury eyewear market.
Consumers are more likely to buy a new set of eyeglasses or replace their old pair, rather than holding on to an outdated pair. On top of that, the rising preferences of luxury and branded sunglasses are contributing significantly to the luxury eyewear demand.
Moreover, there has been an increase in disposable income that has resulted in the increased purchase of eyeglasses, especially sunglasses and spectacle frames have further fuelled the growth in the luxury eyewear market across the world.
However, the high cost of the product will affect the growth of the luxury eyewear market.
Luxury Eyewear Market Key Players
Some of the prominent companies operating in the luxury eyewear market are Balenciga; Barton Perreira, LLC, Brioni S.p.A, Bulgari (stylized as BVLGARI), Burberry Group PLC, Calvin Klein Inc.;, Cartier International SNC, Christian Dior Couture, Dolce & Gabbana Srl, EssilorLuxottica (Oakley, Inc.), Giorgio Armani S.p.A., Gold & Wood Luxury Eyewear, Gucci (Kering S.A.), MOSCOT, MYKITA GmbH, Oliver Peoples, Porsche Design (Porsche SE), Prada S.p.A. (Prada Holding S.p.A), Ralph Lauren Corporation, and Tom Ford International LLC.
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Availability of Latest Designs
The availability of the latest designs of eyewear promoted via entertainment channels such as movies and TV series has played a key role in market growth. The presence of a stellar range of options for the consumers shall give an impetus to the growth of the global market. The next decade could be a game changer for the global luxury eyewear market. TV shows and movies have become the primary mode of promotion for sunglasses. Celebrities are quick to set trends with regard to the adoption of sunglasses. This factor, coupled with the availability of polarised pairs of spectacles, has aided market growth.
Use of Social Media Marketing
Fashion accessories are extensively promoted via social media channels. The use of targeted marketing strategies has played to the advantage of the vendors operating in the global luxury eyewear market. Fashion influencers have tied up with major brands for luxury eyewear to promote new products. Owing to the aforementioned factors, the global outreach of the luxury eyewear market is projected to expand. As the trend of wearing sunglasses gathers momentum, the market vendors are earning the advantage of quick adoption of new models. The players have become more customised in their approach to marketing and sales.
Luxury Eyewear Industry Market Segmentation
- Optical Glasses
- Sun Glasses
- Decorative Glasses
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- North America (United States, Canada and Mexico)
• Europe (Germany, UK, France, Italy, Russia, Spain and Benelux)
• Asia Pacific (China, Japan, India, Southeast Asia and Australia)
• Latin America (Brazil, Argentina and Colombia)
• Middle East and Africa
- Equipment Suppliers/ Buyers
- Service Providers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
Detailed TOC of Global Luxury Eyewear Industry Market Research Report-
– Luxury Eyewear Industry Market Introduction and Market Overview
– Luxury Eyewear Industry Market, by Application
– Luxury Eyewear Industry Market Industry Chain Analysis
– Luxury Eyewear Industry Market, by Type
– Industry Manufacture, Consumption, Export, Import by Regions
– Industry Value ($) by Region
– Global Luxury Eyewear Industry Market Status and SWOT Analysis by Regions
– Major Region of Luxury Eyewear Industry Market
- i) Global Luxury Eyewear Industry Market Sales
- ii) Global Luxury Eyewear Industry Market Revenue & market share
– Major Companies List
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