China: Sunglasses Market 2024

Sunglasses Market Size in China

The Chinese sunglasses market fell slightly to $X in 2022, standing approx. at the previous year. In general, the total consumption indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -5.4% against 2019 indices. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Sunglasses Production in China

In value terms, sunglasses production fell modestly to $X in 2022 estimated in export price. Over the period under review, production recorded a abrupt decrease. The most prominent rate of growth was recorded in 2016 when the production volume increased by 241%. Sunglasses production peaked at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Sunglasses Exports

Exports from China

In 2022, overseas shipments of sunglasses increased by 2.3% to X units, rising for the second consecutive year after three years of decline. In general, exports, however, faced a sharp setback. The pace of growth appeared the most rapid in 2021 with an increase of 31%. The exports peaked at X units in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, sunglasses exports surged to $X in 2022. Over the period under review, total exports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +6.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +81.6% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 51%. The exports peaked in 2022 and are likely to continue growth in the immediate term.

Exports by Country

The United States (X units) was the main destination for sunglasses exports from China, accounting for a 24% share of total exports. Moreover, sunglasses exports to the United States exceeded the volume sent to the second major destination, Italy (X units), threefold. India (X units) ranked third in terms of total exports with a 5.4% share.

From 2012 to 2022, the average annual growth rate of volume to the United States amounted to -29.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (-15.8% per year) and India (-25.2% per year).

In value terms, the United States ($X) remains the key foreign market for sunglasses exports from China, comprising 25% of total exports. The second position in the ranking was held by Italy ($X), with an 8.3% share of total exports. It was followed by Australia, with a 5.9% share.

From 2012 to 2022, the average annual growth rate of value to the United States stood at +5.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+9.2% per year) and Australia (+22.1% per year).

Export Prices by Country

In 2022, the average sunglasses export price amounted to $X per unit, jumping by 18% against the previous year. Overall, the export price showed a significant increase. The pace of growth appeared the most rapid in 2018 when the average export price increased by 1,421% against the previous year. Over the period under review, the average export prices reached the maximum in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Australia ($X per unit), while the average price for exports to Myanmar ($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 India (+52.6%), while the prices for the other major destinations experienced more modest paces of growth.

Sunglasses Imports

Imports into China

In 2022, sunglasses imports into China surged to X units, increasing by 38% against 2021. Over the period under review, imports continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2014 when imports increased by 68%. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

In value terms, sunglasses imports soared to $X in 2022. Overall, imports continue to indicate prominent growth. The growth pace was the most rapid in 2014 with an increase of 57% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2022, Italy (X units) constituted the largest sunglasses supplier to China, accounting for a 67% share of total imports. Moreover, sunglasses imports from Italy exceeded the figures recorded by the second-largest supplier, the United States (X units), sixfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Italy stood at +24.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+40.9% per year) and Japan (+13.9% per year).

In value terms, Italy ($X) constituted the largest supplier of sunglasses to China, comprising 60% of total imports. The second position in the ranking was taken by the United States ($X), with a 12% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Italy amounted to +9.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+30.4% per year) and Japan (+12.4% per year).

Import Prices by Country

In 2022, the average sunglasses import price amounted to $X per unit, reducing by -15.7% against the previous year. In general, the import price recorded a abrupt descent. The most prominent rate of growth was recorded in 2016 an increase of 25% against the previous year. Over the period under review, average import prices attained the maximum at $X per unit in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per unit), while the price for Italy ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (-1.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :