Benelux: Sunglasses Market 2024

Sunglasses Market Size in Benelux

After three years of decline, the Benelux sunglasses market increased by 24% to $X in 2022. Overall, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Sunglasses Production in Benelux

In value terms, sunglasses production shrank rapidly to $X in 2022 estimated in export price. Overall, production recorded a deep setback. The growth pace was the most rapid in 2021 with an increase of 64% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Sunglasses Exports

Exports in Benelux

After two years of growth, overseas shipments of sunglasses decreased by -24.6% to X units in 2022. Over the period under review, exports showed a mild shrinkage. The pace of growth was the most pronounced in 2018 with an increase of 35%. Over the period under review, the exports hit record highs at X units in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, sunglasses exports dropped to $X in 2022. Total exports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -3.2% against 2018 indices. The most prominent rate of growth was recorded in 2013 with an increase of 29%. The level of export peaked at $X in 2021, and then shrank in the following year.

Exports by Country

The Netherlands was the key exporter of sunglasses in Benelux, with the volume of exports resulting at X units, which was approx. 82% of total exports in 2022. It was distantly followed by Belgium (X units), generating an 18% share of total exports.

The Netherlands was also the fastest-growing in terms of the sunglasses exports, with a CAGR of +2.2% from 2012 to 2022. Belgium (-8.7%) illustrated a downward trend over the same period. While the share of the Netherlands (+22 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Belgium (-21.9 p.p.) displayed negative dynamics.

In value terms, the Netherlands ($X) remains the largest sunglasses supplier in Benelux, comprising 92% of total exports. The second position in the ranking was held by Belgium ($X), with an 8.3% share of total exports.

In the Netherlands, sunglasses exports increased at an average annual rate of +7.0% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Benelux amounted to $X per unit, picking up by 19% against the previous year. Export price indicated a resilient expansion from 2012 to 2022: its price increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2015 when the export price increased by 46% against the previous year. Over the period under review, the export prices attained the maximum at $X per unit in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the Netherlands ($X per unit), while Belgium amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+4.7%).

Sunglasses Imports

Imports in Benelux

In 2022, purchases abroad of sunglasses decreased by -6.8% to X units, falling for the fourth year in a row after two years of growth. Over the period under review, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of 41%. As a result, imports reached the peak of X units. From 2015 to 2022, the growth of imports failed to regain momentum.

In value terms, sunglasses imports reduced to $X in 2022. The total import value increased at an average annual rate of +4.3% over the period from 2012 to 2022; however, 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 23% against the previous year. As a result, imports reached the peak of $X, and then contracted slightly in the following year.

Imports by Country

The Netherlands was the key importer of sunglasses in Benelux, with the volume of imports recording X units, which was near 82% of total imports in 2022. It was distantly followed by Belgium (X units), achieving an 18% share of total imports.

The Netherlands was also the fastest-growing in terms of the sunglasses imports, with a CAGR of +3.4% from 2012 to 2022. Belgium (-7.1%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the Netherlands increased by +20 percentage points.

In value terms, the Netherlands ($X) constitutes the largest market for imported sunglasses in Benelux, comprising 76% of total imports. The second position in the ranking was taken by Belgium ($X), with a 23% share of total imports.

From 2012 to 2022, the average annual growth rate of value in the Netherlands stood at +5.7%.

Import Prices by Country

The import price in Benelux stood at $X per unit in 2022, surging by 3.5% against the previous year. Import price indicated a pronounced expansion from 2012 to 2022: its price increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, sunglasses import price increased by +36.2% against 2016 indices. The most prominent rate of growth was recorded in 2021 when the import price increased by 30% against the previous year. Over the period under review, import prices hit record highs in 2022 and is likely to continue growth in the near future.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Belgium ($X per unit), while the Netherlands totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+8.7%).

Source: IndexBox Platform