Luxury sunglasses market expected to reach $ 6.9 billion by 2030-Allied Market Research


Luxury Sunglasses Market: Global Opportunity Analysis and Industry Forecast, 2021-2030

POTLAND, 5933 NE WIN SIVERS DRIVE, # 205, OR 97220, USA, August 13, 2021 / – According to a new report released by Allied Market Research titled “Luxury Sunglasses Market by Product Type, Frame Material, End User and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2021 -2030 “, The global luxury sunglasses market Size was valued at $ 4.1 billion in 2020 and is expected to reach $ 6.9 billion by 2030, registering a CAGR of 5.5% from 2021 to 2030.

Prolonged exposure to the sun can cause cataracts, macular degeneration, cataracts, pterygium and photokeratitis. In addition, a bright ray of sunlight that hits directly in the eyes is dangerous, especially while driving. Sunglasses are a unique solution to the aforementioned problems.

Internet, current trend of digitization and social media platforms are some of the factors which are expected to play a significant role in the growth of the global sunglasses market in the future. The outbreak of the COVID-19 pandemic has indicated the importance and necessity of digitalization for market players to survive in the luxury sunglasses market.

Global per capita income has grown at a high rate in recent years, especially in emerging economies. The increase in urbanization and the growth of middle-class consumers in developing and developed markets has encouraged the adoption of lifestyles focused on convenience, making luxury sunglasses more desirable for all groups. of age, especially for young people. In addition, the growing trend of using luxury sunglasses with retro cat eye lenses, round and clear lenses, sunglasses with a chain, hexagonal lenses and visor sunglasses is boosting the market. growth of the luxury sunglasses market. The availability of these sunglasses in various attractive designs, such as clean design, wrap-around frame, curved shape design and others, becomes the point of attraction for customers. In addition, the increased interest of children, adolescents and adults in sports activities is increasing the growth of the luxury sunglasses market.

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According to the luxury sunglasses market analysis, the market is segmented into product type, frame material, end user, distribution channel and region. On the basis of product type, the market is categorized into polarized and non-polarized. Based on the material of the frame, it is fragmented into acetate, metal, injected and others. Based on the end user, it is separated into men, women and unisex. Based on the distribution channel, it is categorized into supermarkets / hypermarkets, specialty stores, convenience stores, online stores and others. At the regional level, it is analyzed in North America (United States, Canada and Mexico), in Europe (United Kingdom, France, Italy, Germany, Spain, Russia and the rest of Europe), in Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, Sri Lanka and the rest of Asia-Pacific) and LAMEA (Brazil, Argentina, United Arab Emirates, Nigeria, Turkey, South Africa and rest of LAMEA) .

On the basis of product type, the non-polarized segment has been the biggest contributor to the luxury sunglasses market, with $ 2,735.0 million in 2020, and is expected to maintain its dominance over the forecast period. . Non-polarized sunglasses consist of glass or plastic lenses and a frame holding the lenses.

Non-polarized sunglasses reduce the overall intensity of sunlight. A wide variety of non-polarized sunglasses are available depending on the lens color, design and materials used in the frames and on-demand customization of the glasses. It is a popular choice with consumers around the world due to its wide range of varieties and easy availability on offline and online channels.

Based on the frame material, the injected frame material is cheaper, and it takes less time to manufacture. It is made by injecting a petroleum-based plastic liquid into a metal mold. It is popular because of its lightness and comfort characteristics and its injected frames can be produced with a wide range of colors.

According to the luxury sunglasses market trends, according to the distribution channel, the specialty store segment is a popular way for customers to buy sunglasses. The easy availability of desired brands, designs and colors of sunglasses is driving the growth of the specialty store segment.

The online sale of sunglasses is also gaining popularity with customers, due to the proliferation of digital platforms globally.

Regionally, North America dominated the luxury sunglasses market in 2020 and is expected to maintain its dominance during the forecast period of the luxury sunglasses market. The key factors for the growth of the sunglasses market in the region are the high purchasing ability of the majority of the population, the high demand for luxury and premium products, and the consumer awareness of eye care. .

Players operating in the global luxury sunglasses market have adopted various development strategies to expand their market share and increase profitability in the market. The main players presented in this report are Carl Zeiss AG, EssilorLuxottica SA, Giorgio Armani SpA, Guccio Gucci SpA, Loch Effects, LVMH Moët Hennessy Louis Vuitton, Marcolin SpA, Prada SpA, Randolph Engineering, Inc and Safilo Group SpA.

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The major players in the luxury sunglasses market are investing in technological advancements, such as 3D try-on, developed by various market players available on their website to provide customers with the best user experience when they are seated at home. House.

Main conclusions of the study

By product type, the non-polarized segment held the highest market share, accounting for 66.7% of the global luxury sunglasses market.
Based on the frame material, the injected segment held the main market share of 36.7%.
Based on the end user, the male segment held the main market share of 44.9%.
Based on the distribution channel, the specialty stores segment held the largest share of 39.2%.

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