Polarized Technology is fastest growing segment fueling the growth of Luxury Sunglasses Market

The global Luxury Sunglasses Market is estimated to be valued at US$ 12,813.32 Mn in 2023 and is expected to exhibit a CAGR of 6.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Luxury sunglasses provide UV protection from the sun and come in various styles, frames and tints. They enhance one's looks in addition to protecting eyes from harmful sun rays.

Market key trends:
Polarized lenses are one of the key trends in the luxury sunglasses market. Polarized lenses filter out horizontal light reflections that are responsible for causing glare on flat surfaces like water, snow, glass, pavements etc. This eliminates eyestrain and enhances vision. By eliminating blinding reflections, polarized lenses provide better definition and depth perception. They enhance contrast and color perception while decreasing discomfort on bright sunny days. Polarized lenses are becoming increasingly popular in luxury sunwear as they provide unobstructed vision in a variety of environments without compromising on style.

Segment Analysis
The global luxury sunglasses market is dominated by the men's sunglasses segment which accounts for over 45% of the market share. Men's sunglasses witness high demand owing to rising fashion consciousness among men and growing acceptance of sunglasses as a style statement. The women's sunglasses segment is also growing considerably and holds the second largest share.

Key Takeaways
The Global Luxury Sunglasses Market Size is expected to witness high growth, exhibiting CAGR of 6.6% over the forecast period, due to increasing fashion consciousness and rising expenditure power on premium products.

Regional analysis: North America dominates the luxury sunglasses market with over 35% share owing to strong economy and high disposable incomes in the US and Canada. Europe holds the second largest share due to presence of major luxury brands in Italy and Germany.

Key players: Key players operating in the luxury sunglasses market are Carl Zeiss AG, EssilorLuxottica SA, Giorgio Armani S.p.A, Guccio Gucci S.p.A, Loch Effects, LVMH Moët Hennessy Louis Vuitton, Marcolin S.p.A., Prada S.p.A, Randolph Engineering, Inc, and Safilo Group SpA. EssilorLuxottica SA enjoys the leading position with maximum market share due to strong brand portfolio and wide distribution network globally.

Read more: https://www.rapidwebwire.com/luxury-sunglasses-market-insights-trends/