Croatia: Sunglasses Market 2024

Sunglasses Market Size in Croatia

In 2022, the Croatian sunglasses market increased by 22% to $X, rising for the second consecutive year after three years of decline. In general, consumption, however, recorded a relatively flat trend pattern. Sunglasses consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Sunglasses Production in Croatia

In value terms, sunglasses production contracted to $X in 2022 estimated in export price. In general, production saw a noticeable contraction. The most prominent rate of growth was recorded in 2014 with an increase of 95%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Sunglasses Exports

Exports from Croatia

In 2022, exports of sunglasses from Croatia fell remarkably to X units, waning by -24.6% against the year before. In general, exports, however, enjoyed resilient growth. The most prominent rate of growth was recorded in 2017 with an increase of 151% against the previous year. The exports peaked at X units in 2021, and then dropped notably in the following year.

In value terms, sunglasses exports soared to $X in 2022. Over the period under review, exports, however, enjoyed strong growth. The pace of growth was the most pronounced in 2017 when exports increased by 177% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Bosnia and Herzegovina (X units) was the main destination for sunglasses exports from Croatia, with a 36% share of total exports. Moreover, sunglasses exports to Bosnia and Herzegovina exceeded the volume sent to the second major destination, Albania (X units), threefold. Italy (X units) ranked third in terms of total exports with a 9% share.

From 2012 to 2022, the average annual growth rate of volume to Bosnia and Herzegovina totaled +26.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Albania (+41.9% per year) and Italy (+0.4% per year).

In value terms, the largest markets for sunglasses exported from Croatia were Italy ($X), Slovenia ($X) and Greece ($X), with a combined 57% share of total exports.

Greece, with a CAGR of +47.0%, saw 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

In 2022, the average sunglasses export price amounted to $X per unit, rising by 96% against the previous year. Overall, the export price, however, showed a noticeable contraction. Over the period under review, the average export prices reached the maximum at $X per unit in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Italy ($X per unit), while the average price for exports to Albania ($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 Slovenia (+12.1%), while the prices for the other major destinations experienced more modest paces of growth.

Sunglasses Imports

Imports into Croatia

In 2022, supplies from abroad of sunglasses increased by 21% to X units, rising for the second consecutive year after three years of decline. Over the period under review, imports, however, continue to indicate a perceptible curtailment. The pace of growth was the most pronounced in 2014 when imports increased by 53%. Imports peaked at X units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, sunglasses imports amounted to $X in 2022. In general, total imports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +7.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +58.3% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 55%. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

Italy (X units), Germany (X units) and China (X units) were the main suppliers of sunglasses imports to Croatia, with a combined 62% share of total imports. Hungary, Poland, France, Spain and Slovenia lagged somewhat behind, together comprising a further 32%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of +120.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X) constituted the largest supplier of sunglasses to Croatia, comprising 68% of total imports. The second position in the ranking was held by Germany ($X), with a 12% share of total imports. It was followed by France, with a 4.6% share.

From 2012 to 2022, the average annual growth rate of value from Italy totaled +11.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+32.8% per year) and France (+18.8% per year).

Import Prices by Country

The average sunglasses import price stood at $X per unit in 2022, waning by -15.3% against the previous year. Over the period under review, the import price, however, showed a strong expansion. The most prominent rate of growth was recorded in 2013 when the average import price increased by 172%. Over the period under review, average import prices attained the maximum at $X per unit in 2021, and then fell rapidly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Slovenia (+6.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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