Global Luxury Sunglass Market: Size, Trends and Forecasts (2016-2020)

The report titled “Global Luxury Sunglass Market: Size, Trends and Forecasts (2016-2020)” provides an in-depth analysis of the global luxury sunglass market with detailed analysis of market size on the basis of value and volume along with the growth in the global average selling price if the luxury sunglasses.

The report provides detailed regional analysis of the developed and emerging markets. The analysis of developed markets includes Europe and the U.S., while emerging markets include, China, Mexico, India, Brazil and Australasia. The regional analysis of the developed markets includes market size by value and volume along with the average selling price of the product and the analysis of emerging markets include the market size on the basis of the value.

The report also assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry. Growth of the overall global luxury sunglass market has also been forecasted for the period 2016-2020, taking into consideration the previous growth patterns, the growth drivers and the current and future trends. The competition in the global luxury sunglass market is stiff and dominated by the big players like Luxottica. Further, key players of the market Safilo and Fielmann are also profiled with their financial information and respective business strategies.

Luxury Sunglasses also known as premium sunglasses have been characterized as sunglasses that are fitted with non-solution lenses, and subsequently are not utilized for vision correction. They are fundamentally utilized for stylish purposes and for securing the eyes against hurtful bright (UV) beams.

The global luxury sunglass market increased at a significant CAGR during the span of 5 years, i.e., 2010-2015 and projections are made that the market would rise in the next five years i.e. 2016-2020 tremendously. The market is highly concentrated in Europe and the U.S., accounting a significant proportion of the market as European countries are popular as tax free shopping destinations among tourists and growing number of consumers who can afford branded sunglasses in the United States. In fact, the market is emerging in the developing nations such as China, Mexico, India, Brazil and Australasia at an increasing annual growth rate.

The major growth drivers for the global luxury sunglass market are: premiumization, airport retail channel, rising consumer holidays and health benefits of using sunglasses. Despite the market is governed by various growth drivers, there are certain challenges faced by the market such as: availability of counterfeit products and bad economic conditions.