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Luxury Eyewear Market to Grow by USD 3.30 billion | Innovation and Portfolio Extension Leading to Product Premiumization to Boost Market Growth | 17,000+ Technavio Research Reports

NEW YORK, Dec. 13, 2021 /PRNewswire/ -- The "Luxury Eyewear Market by Product (eyeglasses and sunglasses) and Geography (North America, Europe, APAC, South America, and MEA) - Forecast and Analysis 2021-2025" report has been added to Technavio's offerings. With ISO 9001:2015 certification, Technavio has been proudly partnering with more than 100 Fortune 500 companies for over 16 years.

Attractive Opportunities in Luxury Eyewear Market by Product and Geography - Forecast and Analysis 2021-2025
Attractive Opportunities in Luxury Eyewear Market by Product and Geography - Forecast and Analysis 2021-2025

The potential growth difference for the luxury eyewear market between 2020 and 2025 is USD 3.30 bn. To get the exact yearly growth variance and the Y-O-Y growth rate, Talk to our analyst.

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.

To learn about additional key drivers, trends, and challenges available with Technavio. Read our FREE Sample Report right now!

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.

View our sample report for additional insights into the contribution of all the segments and regional opportunities in the report.

Some Companies Mentioned with their Offerings

  • To gain access to more vendor profiles with their key offerings available with Technavio, Click Here

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Luxury Eyewear Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Decelerate at a CAGR of 3.97%

Market growth 2021-2025

USD 3.30 billion

Market structure

Fragmented

YoY growth (%)

4.30

Regional analysis

North America, Europe, APAC, South America, and MEA

Performing market contribution

North America at 34%

Key consumer countries

US, China, France, Germany, and UK

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

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.

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.

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

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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