About Luxury Sunglasses
Luxury Sunglasses are being used as a facial accessory and a matching item for a wide variety of outfits, and for highlighting the personality of eyeglass wearers. Innovative materials are used for lenses and frames and other technological advances have resulted in several new designs with better aesthetic appeal, style and quality. Advent of innovative lenses and wide variety of designs in luxury sunglasses as well as sunglasses increasingly perceived as fashion products, this factors has driven the growth of the luxury sunglasses market
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The market players are adopting many strategies so as to attract the audience and to gain highest market share, these strategies can be listed as maintaining product uniqueness, offering attractive discounts, mergers with related organizations, alliances with different companies to increase sales area globally and others. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Luxury Sunglasses market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Fielmann A.G. (Germany), Safilo Group S.p.A. (Italy), Luxottica Group S.p.A. (Italy), Essilor International (France), CooperVision Inc. (United States), Carl Zeiss A.G. (Germany), De Rigo Vision S.p.A. (Italy) and Maui Jim, Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Charmant Group (United States), CIBA VISION (United States) and Marchon Eyewear (United States).
Segmentation Overview
AMA Research has segmented the market of Global Luxury Sunglasses market by Type (Polarized and Non- polarized) and Region.
On the basis of geography, the market of Luxury Sunglasses has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Lens material, the sub-segment i.e. Poly-carbonate will boost the Luxury Sunglasses market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Gender, the sub-segment i.e. Men will boost the Luxury Sunglasses market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Arrival of more fashionable, stylish and appealing designs of frame and Availability of technologically advanced sunglasses
Market Growth Drivers:
Increasing demand due to enhancement in standard of living and Growing awareness regarding side effects of the dangers of UV rays exposure
Challenges:
Growing market share of counterfeit products
Restraints:
Strong competition due attractive market and Availability of counterfeit products at low prices
Opportunities:
Growing Fad of stylish products and Increment in spending on fashion due high disposable income
Market Leaders and their expansionary development strategies
In October 2022, accordance with the terms disclosed on March 14th, 2022 and following clearance from the antitrust authorities, Kering Eyewear today announced that it now holds more than 90% of the iconic sunglass brand Maui Jim, with the remaining shares expected to be acquired by year-end. Maui Jim will be consolidated in Kering accounts starting from October 1st, 2022.
In June 2021,Ray-Ban launches its latest campaign #YOUAREON to showcase its new range of sunglasses and eyeglasses. These new ranges of products are designed to be the definition of confidence and living in that very moment.
Key Target Audience
Manufacturer, Raw material supplier, Channel partners, Industry Association, Governments and investment communities, Research organizations and associations and End user (Fashion industry)
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.