The global luxury eyewear market is projected to grow at a CAGR of over 3% and is estimated to reach a value pool of over US$ 50 Bn by the end of the forecast period (2019-2027). Despite continued threats of trade war and economic uncertainty, the overall outlook for the luxury eyewear market remains optimistic. Over the past decade, the aspirations of luxury businesses’ have shifted exponentially and continue to be influenced by changing market frontiers. A retreat of the middle class, sustainable living, change in lifestyle patterns and trend setting experiences are aiding the growth of the global luxury eyewear market.
For detailed insights on enhancing your product footprint, request for a sample here- https://www.factmr.com/connectus/sample?flag=S&rep_id=4478
A palpable increase in the number of High-Net-Worth Individual (HNWI) demographics, together with sophisticated living standards, is set to fuel the luxury eyewear market for the foreseeable future. However, in terms of entry price and distribution, luxury eyewear is no longer seen as a way of making ambitious luxury brands more accessible. Millennial consumers are extremely aspirational in terms of overall shopping experience, luxury in particular.
Key Takeaways of Luxury Eyewear Market Study
- Eyeglasses, presently leads the product type segment with a share of over 60%. The excitable jump in branded eyeglasses sales as consumers become increasingly conscious about brands and fashion is attributing to such growth
- Europe is presently the most lucrative region for the global luxury eyewear market with a market share close to 1/3rd in global market
For critical insights on this market, request for methodology here- https://www.factmr.com/connectus/sample?flag=RM&rep_id=4478
- In European countries such as Germany, UK, France, Spain, and Italy, the demand for luxury eyewear among potential customers is growing
- APAC is expected to gain a strong incremental growth rate of over 5.5% during the forecast period. Factors such as increasing marketing campaigns, new product releases and rapid economic development is contributing to growth in the region
- Threats from counterfeit products are narrowing the prospects for luxury eyewear, especially in developing regions
“The past decade has witnessed significant change in the high-end luxury eyewear market due to the launch of luxury retail concepts. Moreover, the implementation of Omni-channel retailing is significantly impacting the luxury eyewear market” says the Fact.MR analyst
For comprehensive insights on this market adoption, ask an analyst here- https://www.factmr.com/connectus/sample?flag=AE&rep_id=4478
Competitors Leveraging on Product Development to Attract Customers
The global luxury eyewear market is consolidated in nature with a few fashion giants such as Luxottica Group S.p.A., Safilo Group S.p.A. and LVMH Moët Hennessy holding top shares. Manufacturers and designers of luxury eyewear are developing eyeglasses and sunglasses in new styles, shapes, sizes, colors and structural orientation. Getting a large customer base has been the prime effort of these companies which is an uphill battle for many in the luxury eyewear industry. With the luxury eyewear industry being saturated and consumer spending turning to experiences instead of high-priced goods, the biggest competitors are putting greater emphasis on the marketing of their products.
About Us:
Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we’ll be an able research partner.
Contact:
US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
Corporate Headquarter:
Unit No: AU-01-H Gold Tower (AU),
Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers,
Dubai, United Arab Emirates
Email: [email protected]
Visit Our Website: https://www.factmr.com
