Global vision disorder issues have led to a growth of luxury eyewear market. Other factors contributing to the growth include high pollution levels and unhealthy and unkempt lifestyle of consumers globally which is leading to various health anomalies, which includes vision impairment. This has boosted the demand for correction devices for sight, for example, prescription lenses. With addition of medically prescribed sunglasses has further added to market growth. The luxury eye wear market is valued at $131.12 Billion in 2018 and expected to clock a strong CAGR of 7% during the period of 2019-2024.
Growing rate of eye disorders such as myopia, hypermetropia, presbyopia etc in the aging population is a significant contributor to the rise in demand for luxury eye wear.
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The Luxury Eyewear market is segmented based upon product, end user, distribution channel and geography.
Based upon product, the luxury eyewear market is categorized as
- Contact Lenses (Premium contact lenses, mass contact lenses)
- Spectacles (Spectacle Frames, Spectacle Lenses)
- Sunglasses (Lens Type, Lens Material)
Based upon end user, the luxury eyewear market is categorized as
Based upon distribution channel, the luxury eyewear market is categorized as
- Brick & Mortar
Based upon Geography, the luxury eyewear market is categorized as
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
North America dominated the market with a major share of the global pie. Presence of major manufacturing and innovation industry in the region and a significant advancement in optic and optometry further consolidates the innovation and modernization of the industry.
Europe is the second largest market in terms of revenue with a majority of aging population. Also an increased healthcare spending and a general perception of Luxury eyewear as fashion accessories in a highly fashioned region, has further boosted the demands for luxury eyewear.
Asia-Pacific is expected to generate exponential growth in the next five years with major economic activities, an increase in disposable income and high level of product marketing and awareness. Countries like China, Japan and India are expected to report highest growth in the next five years in Luxury Eyewear.
The global demand for optics and eyewear is expected to show a steady growth in the years ahead. It is predicted that eyewear market will greatly benefit from increased awareness of the harmful effects of UV radiation but also from the growing trend of frames and sun shades increasingly projected and perceived as fashion commodities. Innovation in lenses and frames structure along with other technological development have produced several new designer products with enhanced style, comfort and aesthetic appeal. Luxury eyewear are considered a fashion statement and are color coded and matched with apparel to stand out from the crowd and create a distinct personality.
Table Of Content:
1 Market Overview
2 Global Market Competition by Manufacturers
3 Global Capacity, Production, Revenue (Value) by Region (2013-2018)
4 Global Supply (Production), Consumption, Export, Import by Region (2013-2018)
5 Global Production, Revenue (Value), Price Trend by Type
6 Global Market Analysis by Application
7 Global Manufacturers Profiles/Analysis
8 Manufacturing Cost Analysis
9 Industrial Chain, Sourcing Strategy and Downstream Buyers
10 Marketing Strategy Analysis, Distributors/Traders
11 Market Effect Factors Analysis
12 Global Market Forecast (2018-2025)
13 Research Findings and Conclusion
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