Luxury Eyewear Market - By Product Type (Eyeglasses, Sunglasses), By Shape (Round, Oval, Square and others), By Frame size (Small, Medium and Large) By Price Range (USD 200 - USD 500, USD 500 – USD 1,000, USD 1,000+), By End User, By Distribution Channel Region, & Forecast 2024 - 2032

Luxury Eyewear Market Size

Luxury Eyewear Market size was valued at USD 24.4 billion in 2023 and is estimated to grow at a CAGR of 3.9% from 2024 and 2032. Market growth can be attributed to the rising consumer disposable income, growing awareness of eye health, and changing consumer preferences toward luxury & premium products.
 

The distinctive qualities of luxury eyewear, such as cutting-edge radiation protection and creative frame designs crafted from precious materials, set it apart from the competition. These products are intended to convey a sense of luxury, high social position, fashion-forwardness, and exceptional quality while satisfying the sophisticated demands of customers. In addition to this, the growing awareness of eye health risks associated with UVA and UVB radiation damage is driving the use of premium eyewear as severe weather pushes people to wear sunglasses to protect their eyes from hazardous radiation.

Consumer tastes and preferences in fashion & luxury items are unpredictable and brands have to continuously adapt to the changing needs and expectations of customers. Furthermore, the prevalence of counterfeit luxury eyewear presents a significant challenge, as fake products degrade brand value and consumer trust, resulting in revenue losses for real businesses.

Luxury Eyewear Market Trends

There is a growing demand for personalized and customizable eyewear options. Luxury brands are providing personalized services, allowing customers to select frame shapes, colors, and lens selections based on their personal preferences and facial traits. In addition to this, the incorporation of digital technologies, such as Augmented Reality (AR) and Virtual Reality (VR), is transforming the eyeglass shopping experience. Brands are incorporating virtual try-on features into their websites and smartphone applications, allowing customers to see how different frames look on their faces before purchasing.
 

For instance, SmartBuyGlasses is an online retailer that offers a virtual try-on tool for over 5,000 of its sunglasses & eyeglasses. Customers can use their webcam or upload a selfie to see how the frames would look on their faces. The tool even analyzes the face shape to suggest flattering styles.
 

Luxury Eyewear Market Analysis

Based on product type, the global market is classified into eyeglasses & sunglasses. The eyeglasses segment is poised to capture the largest market share of 16.7 billion in 2023 and is expected to grow at a CAGR of 2.5%. The prevalence of visual issues, such as myopia and hyperopia, is rising owing to increased screen time, aging populations, and lifestyle changes, all of which contribute to the growing need for corrective eyewear including luxury glasses. In addition, innovations in lens technology, such as anti-reflective coatings, blue light filtering, and lightweight materials improve comfort and functionality, making luxury eyeglasses more appealing to customers.
 

Based on the price range, the global luxury eyewear market is categorized into USD 200 – USD 500, USD 500 – USD 1,000, and USD 1,000+. The USD 1,000+ segment dominated the market with a value of USD 9.4 billion in 2023 and is expected to reach USD 11.4 billion by 2032 owing to the eyewear’s high-quality materials, unique design, and innovation. Luxury eyewear in this price category often uses high-quality materials, such as premium metals (e.g., titanium, gold) and acetate, as well as advanced production procedures, resulting in products that are perceived as having greater quality and durability.

In the global luxury eyewear market, Europe is poised to hold a significant share, maintaining its dominant position throughout the analysis period. It is projected to reach USD 10.0 billion by the end of 2032. Europe has a rich heritage of famous luxury fashion brands and a history of creating high-end eyewear. Countries, such as Italy and France, are at the forefront of this sector, with well-known brands, such as Luxottica, Prada, and Gucci from Italy, and Dior and Chanel from France, playing critical roles in developing the market.
 

The market in the U.S. is projected to experience a CAGR of 2.5% throughout the forecast period. Consumers are becoming more aware of fashion trends, as well as eye health risks associated with UVA and UVB radiation. As extreme weather conditions continue, the demand for protective yet fashionable eyewear adds to market growth.
 

China dominates the Asia Pacific luxury eyewear market and is supposed to grow at a CAGR of 2.5% during the forecast period from 2024-2032. China's luxury eyewear business is being driven by a cultural trend toward fashion and brand awareness. Consumers seek products that convey elegance & exclusivity and are in line with the current fashion trends. Luxury eyewear manufacturers that provide cutting-edge designs, superb craftsmanship, and a respected brand have positioned themselves to leverage the growing market demand.
 

Luxury Eyewear Market Share

The luxury eyewear industry is highly fragmented due to the presence of numerous local and global players. In 2023, players including Calvin Klein Inc., Cartier International SNC, Ralph Lauren Corporation, Safilo Group, and Luxottica Group collectively held around 5%-10% market share. These prominent players are proactively involved in strategic endeavors, such as mergers & acquisitions, facility expansions, and collaborations, to expand their product portfolios, extend their reach to a broader customer base, and strengthen their market position.
 

Luxury Eyewear Market Companies

Major players operating in the luxury eyewear industry are:

• Balenciaga
• Barton Perreira, LLC
• Brioni S.p.A
• Bulgari (stylized as BVLGARI)
• Burberry Group PLC
• Calvin Klein Inc.
• Cartier International SNC
• Christian Dior Couture
• Dolce & Gabbana Srl
• EssilorLuxottica (Oakley, Inc.)
• Giorgio Armani S.p.A.
• Gold & Wood Luxury Eyewear
• Gucci (Kering S.A.)
• MOSCOT
• MYKITA GmbH
• Oliver Peoples
• Porsche Design (Porsche SE)
• Prada S.p.A. (Prada Holding S.p.A)
• Ralph Lauren Corporation
• Tom Ford International LLC
   

Luxury Eyewear Industry News

• In June 2024, UBON launched its J1 Magic Sunglasses, which incorporate smart features such as open-ear speakers and Bluetooth connectivity
   
• In May 2022, Neso Brands, a Singapore-based company, formed a partnership with Lenskart, an Indian eyewear e-commerce site, with plans to invest in consumer eyeglasses and focus on quick expansion.
   

The luxury eyewear market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Billion) (Million Units) from 2021 to 2032, for the following segments:

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Market, By Product Type

• Eyeglasses
• Sunglasses

Market, By Shape

• Round
• Oval
• Square
• Others

Market, By Frame Size

• Small
• Medium
• Large

Market, By Price Range

• USD 200 - USD 500
• USD 500 – USD 1,000
• USD 1,000+

Market, By End User

• Men
• Women
• Kids

Market, By Distribution Channel

• Online
• Offline

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
  • Rest of Asia Pacific 
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• MEA
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of MEA