China: Spectacles And Goggles Market 2024

Spectacles And Goggles Market Size in China

For the tenth year in a row, the Chinese spectacles and goggles market recorded growth in sales value, which increased by 5.1% to $X in 2021. Overall, consumption showed a prominent expansion. Over the period under review, the market reached the maximum level in 2021 and is likely to see gradual growth in the immediate term.

Spectacles And Goggles Production in China

In value terms, spectacles and goggles production declined modestly to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the production volume increased by 69%. Over the period under review, production reached the maximum level at $X in 2017; however, from 2018 to 2021, production stood at a somewhat lower figure.

Spectacles And Goggles Exports

Exports from China

In 2021, spectacles and goggles exports from China shrank significantly to X units, with a decrease of -27% against 2020. Overall, exports continue to indicate a drastic downturn. The pace of growth was the most pronounced in 2016 with an increase of 288% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, spectacles and goggles exports contracted notably to $X in 2021. In general, total exports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +5.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +65.5% against 2012 indices. The growth pace was the most rapid in 2020 with an increase of 31%. As a result, the exports reached the peak of $X, and then contracted markedly in the following year.

Exports by Country

The United States (X units) was the main destination for spectacles and goggles exports from China, accounting for a 30% share of total exports. Moreover, spectacles and goggles exports to the United States exceeded the volume sent to the second major destination, Hong Kong SAR (X units), twofold. The third position in this ranking was held by Germany (X units), with a 4.2% share.

From 2012 to 2021, the average annual growth rate of volume to the United States amounted to -20.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (-13.5% per year) and Germany (-18.5% per year).

In value terms, the largest markets for spectacles and goggles exported from China were the United States ($X), Hong Kong SAR ($X) and Italy ($X), together comprising 49% of total exports.

Italy, with a CAGR of +15.7%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average spectacles and goggles export price stood at $X per unit in 2021, surging by 16% against the previous year. Overall, the export price posted significant growth. The growth pace was the most rapid in 2018 an increase of 302% against the previous year. The export price peaked in 2021 and is expected to retain growth in years to come.

Average prices varied somewhat for the major overseas markets. In 2021, amid the top suppliers, the highest price was recorded for prices to France ($X per unit) and Hong Kong SAR ($X per unit), while the average price for exports to Indonesia ($X per unit) and Germany ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to India (+37.9%), while the prices for the other major destinations experienced more modest paces of growth.

Spectacles And Goggles Imports

Imports into China

In 2021, purchases abroad of spectacles and goggles decreased by -28.2% to X units for the first time since 2017, thus ending a three-year rising trend. Overall, imports, however, recorded strong growth. The growth pace was the most rapid in 2020 with an increase of 95% against the previous year. As a result, imports attained the peak of X units, and then contracted rapidly in the following year.

In value terms, spectacles and goggles imports declined sharply to $X in 2021. Over the period under review, imports, however, enjoyed a prominent increase. The pace of growth appeared the most rapid in 2020 when imports increased by 98% against the previous year. As a result, imports attained the peak of $X, and then fell sharply in the following year.

Imports by Country

In 2021, Taiwan (Chinese) (X units) constituted the largest spectacles and goggles supplier to China, with a 60% share of total imports. Moreover, spectacles and goggles imports from Taiwan (Chinese) exceeded the figures recorded by the second-largest supplier, Japan (X units), fivefold. The United States (X units) ranked third in terms of total imports with a 9.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Taiwan (Chinese) totaled +6.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+22.1% per year) and the United States (+7.3% per year).

In value terms, Japan ($X), Taiwan (Chinese) ($X) and Italy ($X) were the largest spectacles and goggles suppliers to China, together accounting for 56% of total imports.

Among the main suppliers, Italy, with a CAGR of +33.2%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average spectacles and goggles import price stood at $X per unit in 2021, increasing by 1.5% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of 2.7% against the previous year. Over the period under review, average import prices attained the peak figure at $X per unit in 2012; afterwards, it flattened through to 2021.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Italy ($X per unit), while the price for Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Myanmar (+69.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :