1 Global Luxury Eyewear Market Insight Analysis
The global luxury eyewear market is valued at $27,132.41 million in 2024, with a CAGR of approximately 6.11% from 2024 to 2033.
Luxury eyewear is built to inspire through art and beauty. Luxury eyewear brands have an artistic expression. The market here only the super-premium to luxury price range is considered, and lenses and contact lenses are excluded.
Figure Global Luxury Eyewear Market Size (M USD) and CAGR (2024-2033)
2 Luxury Eyewear Market Growth Drivers and Restraints
Changes in consumer perceptions: As people’s living standards improve, glasses are no longer just functional products, but also an expression of fashion and personality. The younger generation matches glasses according to different occasions and outfits, making them an important part of the overall look. This change in perception has prompted consumers to pay higher prices for luxury glasses with a sense of design and quality, driving market demand growth. For example, the decorative glasses launched by some brands meet consumers’ needs for a unique style and are popular in the market.
Luxury brands attach importance to: Many luxury brands are paying more and more attention to the eyewear category. Taking LVMH’s acquisition of Thélios and Kering’s acquisition of Lindberg and Maui Jim as examples, luxury brands have deployed the eyewear market through brand expansion and acquisitions. This not only enriches its own product lines, but also attracts consumers with brand influence, increases the popularity and competitiveness of the entire market, and promotes the expansion of the market size.
Great potential in emerging markets: The demand for luxury glasses in emerging markets such as China is growing rapidly. The mainland China market is growing faster, with younger consumers and a high demand for decorative glasses. The successful layout of Lindberg in the Chinese mainland market, with multiple stores and many dealers, shows that emerging markets provide broad growth space for the luxury eyewear market.
Talent shortage: The luxury eyewear industry is a multidisciplinary and comprehensive field that requires professional and technical talents to promote innovation. New entrants have difficulty attracting high-end talents due to insufficient funds and brand influence, which limits product innovation and corporate development, resulting in a disadvantage in market competition.
High brand barriers: Well-known luxury eyewear brands have invested heavily in product quality, service, publicity, etc., and have been recognized by consumers. Even if new brands invest a lot of resources in publicity, if the product quality cannot keep up, it will damage the brand image and make it difficult to break through the market and gain consumer trust.
Fierce industry competition: The global luxury eyewear market is highly competitive, with many brands and companies competing for market share. The market saturation is gradually increasing, and new entrants are facing strong competitive pressure. At the same time, consumer demand is changing rapidly, prompting the industry to accelerate changes and increase business risks.
Lack of consumer awareness: When consumers buy glasses, they pay more attention to the blue light protection, UV protection and other functions of the lenses, and pay less attention to the brand value and fashion attributes of luxury glasses. Under the competitive landscape of “product is king”, the consumer awareness of luxury glasses needs to be further improved, otherwise it will affect the further expansion of the market.
3 Technological Innovations in the Luxury Eyewear Market
Material innovation: Luxury glasses are constantly innovating in the use of materials, using high-quality and unique materials to enhance product texture and performance. For example, some brands use materials such as Premium Acetate-Resin and Memory Resin TR90 from Italy and Switzerland to make the frames lighter, more durable and more comfortable to wear. Other brands use metals such as titanium, gold, platinum and special materials such as buffalo horns, which not only improve quality but also increase product uniqueness.
Functional innovation: Lens technology is the key to functional innovation in glasses. Maui Jim’s PolarizedPlus2® lens technology can effectively protect the eyes from strong light and harmful ultraviolet rays, while enhancing color perception and providing a clearer and more comfortable visual experience. Lenses with functions such as anti-blue light, color change, and anti-fatigue have also appeared on the market to meet the different needs of consumers.
Design innovation: The brand focuses on design innovation and integrates fashion and art elements. Bolon Eyewear draws inspiration from fashion trends to create a variety of styles of products to meet the individual needs of different consumers. Some brands have launched frameless and half-frame glasses, as well as unique frame shapes and color combinations, showing a fashionable and innovative design concept.
Giants’ layout: The cooperation and acquisition between LVMH and Marcolin have attracted much attention. In 2017, the two parties established a joint venture company, Thélios. Later, LVMH acquired Marcolin’s 49% stake in Thélios, achieving full ownership and strengthening its competitiveness and market voice in the field of luxury glasses. Kering has also actively laid out, acquiring Lindberg and Maui Jim, enriching its eyewear brand matrix and expanding its market share with the help of brand advantages.
Industry integration trend: In addition to the actions of giants, other companies in the industry have also integrated resources through mergers and acquisitions. Safilo Group acquired 70% of Blenders Eyewear, and New Look Vision Group acquired Luxury Optical Holdings. These measures help companies expand their scale, optimize product structure, enhance market competitiveness, and promote the concentration of the industry.
4 Global Luxury Eyewear Market Size by Type
Optical Glasses are anticipated to generate a market value of USD 6,528.83 million in 2024. This segment includes prescription eyewear designed for vision correction and is driven by the continuous demand for high-quality lenses and frames. The growth in this segment is supported by the increasing prevalence of vision-related issues and the need for stylish yet functional eyewear. Optical glasses are particularly popular among adults who require vision correction, contributing to their significant market share.
Sun Glasses are expected to achieve a market value of USD 16,525.39 million in the same year. Sun glasses, or sunglasses, are designed to protect the eyes from harmful UV rays and glare while also serving as a fashion accessory. Their market growth is influenced by the rising awareness of UV protection and the increasing demand for stylish and designer sunglasses. The segment benefits from seasonal demand, particularly during summer months, and appeals to both adults and children who seek fashionable yet functional eyewear.
Decorative Glasses are projected to reach a market value of USD 4,078.19 million in 2024. These glasses are primarily worn for aesthetic purposes and do not necessarily serve a functional role in vision correction. Decorative glasses are popular among fashion-conscious consumers who use them as a statement piece. Their market growth is driven by the increasing trend of personalization and the desire for unique, stylish accessories.
Table Global Luxury Eyewear Market Size by Type in 2024
Type | Market Size (M USD) 2024 |
|---|---|
Optical Glasses | 6528.83 |
Sun Glasses | 16525.39 |
Decorative Glasses | 4078.19 |
5 Global Luxury Eyewear Market Size by Application
Adults are expected to dominate the market revenue, with a projected value of USD 23,239.22 million in 2024. This segment includes a wide range of eyewear types, such as optical glasses, sunglasses, and decorative glasses, catering to the diverse needs and preferences of adult consumers. The significant market value attributed to adults is driven by several factors, including the higher demand for vision correction, the need for professional and stylish eyewear in the workplace, and the growing trend of personalized and designer eyewear. Additionally, the adult segment benefits from a broader consumer base and higher spending power, contributing to its substantial market share.
Children, on the other hand, are anticipated to generate a market value of USD 3,893.20 million in 2024. While the market for children’s eyewear is smaller compared to that of adults, it is growing steadily. This segment primarily focuses on optical glasses for vision correction and stylish sunglasses. The increasing awareness of the importance of early vision correction and the rising demand for fashionable eyewear among younger consumers are key drivers for this segment. Additionally, the trend of parents investing in high-quality and stylish eyewear for their children is contributing to the growth of the children’s eyewear market.
Table Global Luxury Eyewear Market Size by Application in 2024
Application | Market Size (M USD) 2024 |
|---|---|
Children | 3893.20 |
Adults | 23239.22 |
6 Global Luxury Eyewear Market Size by Region
North America is expected to maintain a strong market presence, with a projected value of USD 9,065.22 million in 2024. The region’s market is driven by high consumer spending power, a preference for designer brands, and a well-established retail infrastructure. The United States, in particular, is a major contributor to the region’s market value, supported by a large consumer base and a thriving e-commerce sector. Canada and Mexico also play significant roles, with growing demand for luxury eyewear driven by increasing disposable incomes and a rising middle class.
Europe is anticipated to achieve a market value of USD 9,076.21 million in 2024. The region is known for its rich fashion heritage and strong presence of luxury brands, making it a key market for high-end eyewear. Countries such as Italy, France, and Germany are major contributors, with a focus on both domestic consumption and exports. The European market benefits from a sophisticated consumer base that values quality and design, driving the demand for luxury eyewear. Additionally, the region’s recovery from the COVID-19 pandemic and ongoing economic stability are expected to support market growth.
Asia Pacific is projected to be the fastest-growing region, with a market value of USD 7,396.95 million in 2024. The region’s market growth is driven by rapid urbanization, rising disposable incomes, and a growing middle class, particularly in countries like China and India. China is expected to remain a dominant player, with a significant increase in domestic consumption and a growing preference for luxury brands. India, Japan, South Korea, and Southeast Asia are also contributing to the region’s market value, with increasing demand for high-quality eyewear and a focus on fashion and functionality.
Middle East and Africa are expected to achieve a market value of USD 542.47 million in 2024. The region’s market is characterized by a growing affluent population and increasing demand for luxury goods. Countries such as Saudi Arabia and the UAE are major markets, driven by high consumer spending power and a preference for designer brands. The region’s market growth is also supported by the rising tourism industry and the increasing presence of international luxury brands.
South America is projected to reach a market value of USD 1,051.56 million in 2024. The region’s market is driven by countries such as Brazil and Argentina, with a growing middle class and increasing disposable incomes. The South American market benefits from a strong fashion culture and a growing demand for luxury eyewear, particularly among younger consumers. However, the region also faces challenges related to economic instability and infrastructure, which may impact market growth.
Figure Global Luxury Eyewear Market Size (M USD) by Region in 2024
7 Global Luxury Eyewear Market Analysis by Major Players
EssilorLuxottica SA
Company Introduction and Business Overview:
EssilorLuxottica SA is a leading global player in the eyewear industry, formed through the merger of the Italian eyewear giant Luxottica and the French lens manufacturer Essilor in 2018. Headquartered in Paris, the company operates worldwide and is renowned for its vertically integrated business model, combining lens production with eyewear manufacturing and distribution. EssilorLuxottica is committed to delivering innovative and high-quality eyewear solutions to consumers across the globe.
EssilorLuxottica’s business spans the entire eyewear value chain, from the design and production of ophthalmic lenses and optical equipment to the manufacturing and marketing of prescription glasses and sunglasses. The company’s portfolio includes a wide range of proprietary and licensed brands, such as Ray-Ban, Oakley, Michael Kors, Varilux, Crizal, and Transitions. These brands cater to diverse consumer needs, from everyday wear to high-end luxury eyewear. EssilorLuxottica’s strength lies in its ability to integrate advanced technology with stylish design, ensuring both functionality and aesthetics in its products.
Products:
EssilorLuxottica offers a comprehensive range of eyewear products, including optical glasses, sunglasses, and sports eyewear. Ray-Ban, one of its flagship brands, is famous for its iconic designs like the Aviator and Wayfarer, which have become symbols of style and sophistication. Oakley, another prominent brand under its umbrella, is known for its high-performance sports eyewear, combining advanced technology with innovative design. The company also provides a variety of prescription lenses, such as Varilux progressive lenses, which offer superior vision correction and comfort. Additionally, EssilorLuxottica’s Crizal lenses are designed to provide protection against harmful blue light and UV rays, catering to the growing demand for eye health solutions.
Safilo Group
Company Introduction and Business Overview:
Safilo Group, founded in 1934 in Italy’s Veneto region, is a global leader in the design, manufacturing, and distribution of eyewear. The company has a rich history of craftsmanship and innovation, combining traditional Italian artistry with modern technology. Safilo Group operates worldwide and is known for its diverse portfolio of brands, catering to various market segments and consumer preferences.
Safilo Group’s business is built on a foundation of design excellence, technical innovation, and high-quality manufacturing. The company’s core strengths lie in its ability to blend style with functionality, producing eyewear that is both fashionable and durable. Safilo Group’s portfolio includes a mix of own brands and licensed brands, such as Carrera, Polaroid, Smith, Safilo, Blenders, Privé Revaux, Seventh Street, Banana Republic, BOSS, Carolina Herrera, and many others. These brands cover a wide range of styles, from casual to high-end luxury, ensuring that Safilo Group can meet the diverse needs of its global consumer base.
Products:
Safilo Group offers a wide range of eyewear products, including optical frames, sunglasses, sports eyewear, goggles, and helmets. One of its notable products is the Carrera sunglasses, which are known for their sleek design and high performance. Polaroid sunglasses are another popular offering, famous for their UV protection and polarized lenses that reduce glare. Safilo Group also produces eyewear for various licensed brands, such as Tommy Hilfiger and Under Armour, ensuring that consumers can find stylish and functional eyewear that aligns with their favorite fashion brands. The company’s products are designed to meet the highest standards of quality and innovation, making them a trusted choice for consumers worldwide.
Kering
Company Introduction and Business Overview:
Kering, founded in 1963, is a global luxury group that manages the development of a series of renowned fashion and luxury brands. Headquartered in Paris, Kering is known for its diverse portfolio, which includes fashion, leather goods, jewelry, and watches. The company’s entry into the eyewear market through Kering Eyewear has significantly expanded its presence in the luxury goods sector. Kering’s commitment to excellence and innovation has made it a key player in the global luxury eyewear market.
Kering’s business strategy is centered around the development and management of luxury brands, with a focus on maintaining their unique identities and heritage. Kering Eyewear, launched in 2014, has quickly become a significant player in the eyewear industry. The company’s eyewear division leverages Kering’s expertise in luxury goods to produce high-end eyewear that combines elegance with functionality. Kering Eyewear’s portfolio includes brands such as Gucci, Saint Laurent, Bottega Veneta, and Balenciaga, each bringing its own unique style and design philosophy to the eyewear market.
Products:
Kering Eyewear offers a diverse range of luxury eyewear products, including optical glasses, sunglasses, and decorative glasses. Gucci eyewear, for example, is known for its bold designs and high-quality craftsmanship, often featuring the brand’s iconic Double-G logo. Saint Laurent eyewear combines classic elegance with modern design elements, appealing to consumers who value sophistication and style. Bottega Veneta eyewear is characterized by its signature intrecciato weave, a testament to the brand’s craftsmanship and attention to detail. Kering Eyewear’s products are designed to meet the highest standards of luxury, ensuring that consumers receive eyewear that is both functional and a statement of their personal style.