Australia: Sunglasses Market 2024

Sunglasses Market Size in Australia

For the fourth consecutive year, the Australian sunglasses market recorded growth in sales value, which increased by 18% to $X in 2022. The market value increased at an average annual rate of +4.4% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Sunglasses Production in Australia

In value terms, sunglasses production totaled $X in 2022 estimated in export price. In general, production continues to indicate resilient growth. The most prominent rate of growth was recorded in 2013 with an increase of 95% against the previous year. Over the period under review, production hit record highs at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

Sunglasses Exports

Exports from Australia

Sunglasses exports from Australia amounted to X units in 2022, increasing by 15% compared with 2021 figures. Over the period under review, exports, however, recorded a pronounced curtailment. The growth pace was the most rapid in 2018 with an increase of 22% against the previous year. The exports peaked at X units in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, sunglasses exports surged to $X in 2022. Overall, exports, however, showed a noticeable setback. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

New Zealand (X units) was the main destination for sunglasses exports from Australia, accounting for a 53% share of total exports. Moreover, sunglasses exports to New Zealand exceeded the volume sent to the second major destination, the United States (X units), threefold. The third position in this ranking was taken by Hong Kong SAR (X units), with a 4.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to New Zealand stood at -1.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+6.4% per year) and Hong Kong SAR (+1.1% per year).

In value terms, the largest markets for sunglasses exported from Australia were New Zealand ($X), the United States ($X) and Hong Kong SAR ($X), together accounting for 63% of total exports. The UK, Italy, Germany, Singapore, China, Sweden, Thailand, Fiji and Papua New Guinea lagged somewhat behind, together accounting for a further 27%.

Among the main countries of destination, Germany, with a CAGR of +50.2%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average sunglasses export price amounted to $X per unit, surging by 8.4% against the previous year. Over the period under review, the export price, however, continues to indicate a noticeable reduction. The pace of growth appeared the most rapid in 2015 when the average export price increased by 12%. The export price peaked at $X per unit in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Singapore ($X per unit), while the average price for exports to Papua New Guinea ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+11.7%), while the prices for the other major destinations experienced more modest paces of growth.

Sunglasses Imports

Imports into Australia

In 2022, purchases abroad of sunglasses increased by 5% to X units, rising for the second year in a row after two years of decline. Overall, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 27% against the previous year. Imports peaked at X units in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, sunglasses imports skyrocketed to $X in 2022. The total import value increased at an average annual rate of +1.9% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 34%. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2022, China (X units) constituted the largest sunglasses supplier to Australia, with a 85% share of total imports. Moreover, sunglasses imports from China exceeded the figures recorded by the second-largest supplier, Italy (X units), more than tenfold. The third position in this ranking was held by Hong Kong SAR (X units), with a 2.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-0.1% per year) and Hong Kong SAR (-0.3% per year).

In value terms, the largest sunglasses suppliers to Australia were Italy ($X), China ($X) and the United States ($X), together accounting for 90% of total imports.

Among the main suppliers, China, with a CAGR of +4.5%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average sunglasses import price stood at $X per unit in 2022, with an increase of 13% against the previous year. Over the last decade, it increased at an average annual rate of +2.0%. The growth pace was the most rapid in 2020 an increase of 20% against the previous year. Over the period under review, average import prices attained the peak figure in 2022 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+11.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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