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New York, December 13, 2021/PRNewswire/-"Luxury eyewear market by product (eyewear and sunglasses) and geography (North America, Europe, Asia Pacific, South America, and MEA)-Forecast and analysis for 2021-2025" The report has been added to Technavio's products. With ISO 9001:2015 certification, Technavio has been proud to work with more than 100 Fortune 500 companies for 16 years.
From 2020 to 2025, the potential growth difference of the luxury eyewear market is USD 3.3 billion. To get the exact annual growth difference and YOY growth rate, please consult our analysts.
Innovations and product portfolio expansion that have led to higher-end products and increased cases of visual impairment are some of the key market drivers. The global luxury eyewear market requires regular innovation, as customers are looking for innovative products that provide the best level of use. Major suppliers in the market are focusing on improving product quality to attract brand-conscious customers. Consumers' health awareness of vision care is increasing to protect the eyes from the harmful effects of UVA and UVB rays, which drives the demand for high-quality glasses. These technological advancements will drive the market during the forecast period.
However, factors such as the threat of counterfeit products will challenge market growth. The growing market for fashion products and its increasing demand are driving the counterfeit luxury eyewear market, especially in developing regions. The increasing popularity of e-commerce has further promoted the sales of counterfeit products. Customers often cannot distinguish between genuine and counterfeit products that are similar in appearance. The existence of a large number of counterfeit products in the field of luxury glasses has reduced customers' trust in e-commerce websites. Therefore, counterfeit products will adversely affect sales and pricing. This will have a negative impact on the economy and consumer trust.
Learn about other key drivers, trends and challenges available to Technavio. Read our free sample report now!
The luxury eyewear market report is broken down by product (glasses and sunglasses) and geographic region (North America, Europe, Asia Pacific, South America, and MEA). During the forecast period, North America will become the leading region, accounting for 34% of market growth. The United States is the main country in the North American luxury eyewear market.
Check out our sample report to learn more about the contribution of all market segments and regional opportunities in the report.
Some companies mentioned their products
Decelerate at a compound annual growth rate of 3.97%
North America, Europe, Asia Pacific, South America and MEA
United States, China, France, Germany and United Kingdom
Leading company, competitive strategy, scope of consumer participation
Alexander McQueen Trading Ltd., CHARMANT Inc., Essilor International SAS, EssilorLuxottica, Fielmann AG, Fosun International Ltd., Kering SA, LVMH Moet Hennessy Louis Vuitton SE, Safilo Group Spa and Tata Sons Pvt. Ltd.
Mother market analysis, market growth incentives and obstacles, fast-growing and slow-growing market segments, COVID-19 impact and future consumer dynamics, and market conditions in the forecast period.
If our report does not contain the data you are looking for, you can contact our analysts and customize the market segment.
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