Key Market Dynamics:
- Market Driver
- Market Challenges
The innovation and portfolio extension leading to product premiumization and increasing cases of vision disorder are some of the key market drivers. The global luxury eyewear market requires regular innovations, as customers are looking for innovative products that offer an optimal level of usage. Key vendors in the market are focusing on enhancing the quality of their products to attract brand-conscious customers. The growing health awareness among consumers regarding vision care to protect the eyes from the harmful effects of UVA and UVB rays is driving the demand for premium eyewear. These advances in technology will drive the market during the forecast period.
However, factors such as threat from counterfeit products will challenge market growth. The growing market of fashion products and their increasing demand are driving the counterfeit luxury eyewear market, particularly in developing regions. The increasing penetration of e-commerce has further propelled the sales of counterfeit products. Customers are often unable to distinguish between genuine and counterfeit products that look similar. The availability of a large number of counterfeit products in the luxury eyewear segment lowers the trust of customers in e-commerce websites. Therefore, counterfeit products adversely impact sales volume and pricing. This negatively impacts the economy and consumer trust.
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The luxury eyewear market report is segmented by product (eyeglasses and sunglasses) and geography (North America, Europe, APAC, South America, and MEA). North America will be the leading region with 34% of the market’s growth during the forecast period. The US is the key country for the luxury eyewear market in North America.
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Some Companies Mentioned with their Offerings
- Alexander McQueen Trading Ltd. – The company offers different types of luxury sunglasses such as McQueen Graffiti Rectangular Sunglasses, Selvedge flat top sunglasses, and others.
- CHARMANT Inc. – The company offers different types of luxury eyewear, including optical glasses and sunglasses.
- Essilor International SAS – The company offers different types of luxury eyewear from brands like EYEZEN and others.
- Fielmann AG – The company offers different types of luxury eyewear under the brand name spectacles.
- Fosun International Ltd. – The company offers different types of luxury sunglasses under the brand name Wolford.
- To gain access to more vendor profiles with their key offerings available with Technavio, Click Here
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Luxury Eyewear Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Decelerate at a CAGR of 3.97% |
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Market growth 2021-2025 |
USD 3.30 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
4.30 |
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Regional analysis |
North America, Europe, APAC, South America, and MEA |
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Performing market contribution |
North America at 34% |
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Key consumer countries |
US, China, France, Germany, and UK |
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Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
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Companies profiled |
Alexander McQueen Trading Ltd., CHARMANT Inc., Essilor International SAS, EssilorLuxottica, Fielmann AG, Fosun International Ltd., Kering SA, LVMH Moet Hennessy Louis Vuitton SE, Safilo Group Spa, and Tata Sons Pvt. Ltd. |
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Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Key Topics Covered:
- Executive Summary
- Market Landscape
- Market Sizing
- Five Forces Analysis
- Market Segmentation
- Customer landscape
- Geographic Landscape
- Vendor Landscape
- Vendor Analysis
- Appendix
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