Luxury sunglasses offer lightweight frames that are durable and fashionable. They provide 100% UV protection and polarized lenses that filter out glare. Luxury sunglasses are a status symbol and serve as an accessory to make a fashion statement. The increasing demand for premium eyewear from the young and affluent millennial population is driving the global luxury sunglasses market. The global luxury sunglasses market is estimated to be valued at US$ 12813.32 Mn in 2023 and is expected to exhibit a CAGR of 10.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The adoption of luxury sunglasses is growing among millennials who want to make a style statement. Luxury brands like Gucci, Dior, and Prada are launching sunglass collections featuring bold colors, unique frame designs and independent brands to appeal to younger consumers. They are marketing directly through social media platforms and brand-centric websites. Luxury sunglass brands are also launching affordable product lines priced between $100 to $300 to attract more millennial customers. The fashion-forward tendencies of millennials and their demand for premium lightweight eyewear is a key driver accelerating growth in the luxury sunglasses market.
Segment Analysis
The global luxury sunglasses market is segmented by product type, end-user, and distribution channel. Based on product type, the polarized segment dominates the market and accounts for over 30% share of the global market. Polarized sunglasses offer effective protection from glare while retaining the color of objects. They shield the eyes from horizontal light rays that cause glare and are known to enhance vision while making colors more vivid.
Key Takeaways
The Global luxury sunglasses market size is expected to witness high growth at a CAGR of 10% during the forecast period of 2023 to 2030.
Regional analysis - The Asia Pacific region dominated the global luxury sunglasses market in 2024 with a share of over 35% and is expected to witness the fastest growth during the forecast period. Rising disposable income, growing middle-class population, and increasing fashion consciousness are driving the market growth in the region.
Key players related content comprises- Key players operating in the luxury sunglasses market include Amada Miyachi, Inc., Arcon Welding Equipment, Colfax Corporation, DAIHEN Corporation, ESAB Welding & Cutting Products, Fronius International GmbH, Illinois Tool Works, Inc., Nelson Stud Welding (Doncasters Group, Ltd.), Obara Corporation, Panasonic Corporation, Rofin-Sinar Technologies, Sonics & Materials, Inc., The Lincoln Electric Company, and Voestalpine AG.
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