Global Luxury Sunglasses Market Was Valued At $ 14.04 Billion In 2017
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The market is characterized by the presence of few vendors and is concentrated. The market is competitive and the vendors in the market are competing on the basis of price, quality, brand, and variety. To increase their market shares and improve their market positions, the players in this marketspace are concentrating on introducing innovative products. Of the major players of Luxury Sunglasses, Luxottica Group maintained its first place in the ranking in 2017. Luxottica Group accounted for 51.52 % of the Global Luxury Sunglasses production value market share in 2017. Other players accounted for 5.25 % and 3.56 % including Safilo Group and Kering.
In terms of geography the market for Luxury Sunglasses consumption divided into six geographic regions: In North America, total Luxury Sunglasses accounted for 47.46 % market shares of the luxury glasses market. In the Europe, total Luxury Sunglasses accounted for 24.87 %. The market in China Luxury Sunglasses accounted for 9.71 %, in Latin America 6.36%, in Asia Other Regions 9.08%, and in Middle East and Africa region 2.53%. Among all regions, North America is estimated to represent the highest share due to the increasing preference of the consumers towards luxury products. The increasing affordability and the presence of large players also drive the market’s growth in this region. Additionally, the growing urbanization that has increased the number of dual-earning households and the increasing working women population, also lead to the growth of the Luxury Sunglasses market.
On the basis of product type, the CR-39?Luxury?Sunglasses type segment is projected to account for the largest volume share during the forecast period; this segment was estimated to account for 35.99 % market share in 2017.
Owing to their increasing spending capacity, women were the major contributors to the market during 2017. Luxury Sunglasses are considered as luxury items and fashion statement and are available in different varieties for various occasions. The increase in working women population is one of the major factors that will contribute to the growth of the Luxury Sunglasses market in this segment. The women segment was estimated to account for the highest volume share of 56.12 % in 2017.