EU: Sunglasses Market 2024

Sunglasses Market Size in the EU

The EU sunglasses market skyrocketed to $X in 2022, growing by 64% against the previous year. The total consumption indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +76.3% against 2020 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Sunglasses Production in the EU

In value terms, sunglasses production totaled $X in 2022 estimated in export price. Overall, production, however, showed a noticeable descent. The most prominent rate of growth was recorded in 2014 when the production volume increased by 44% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Sunglasses Exports

Exports in the EU

In 2022, overseas shipments of sunglasses increased by 9.9% to X units, rising for the second consecutive year after two years of decline. The total export volume increased at an average annual rate of +4.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when exports increased by 19% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, sunglasses exports stood at $X in 2022. The total export value increased at an average annual rate of +5.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by 40% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the near future.

Exports by Country

Italy was the main exporter of sunglasses in the European Union, with the volume of exports amounting to X units, which was approx. 44% of total exports in 2022. It was distantly followed by Germany (X units), the Netherlands (X units), Spain (X units) and Poland (X units), together committing a 37% share of total exports. The following exporters - France (X units) and the Czech Republic (X units) - together made up 6.8% of total exports.

Exports from Italy increased at an average annual rate of +2.0% from 2012 to 2022. At the same time, Germany (+15.7%), Poland (+15.4%), the Czech Republic (+10.4%), Spain (+7.6%), France (+2.5%) and the Netherlands (+2.2%) displayed positive paces of growth. Moreover, Germany emerged as the fastest-growing exporter exported in the European Union, with a CAGR of +15.7% from 2012-2022. From 2012 to 2022, the share of Germany, Poland and Spain increased by +9.1, +4.5 and +2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Italy ($X) remains the largest sunglasses supplier in the European Union, comprising 75% of total exports. The second position in the ranking was held by France ($X), with a 6.4% share of total exports. It was followed by Germany, with a 6.4% share.

From 2012 to 2022, the average annual growth rate of value in Italy amounted to +4.8%. In the other countries, the average annual rates were as follows: France (+3.7% per year) and Germany (+6.8% per year).

Export Prices by Country

In 2022, the export price in the European Union amounted to $X per unit, with an increase of 2.8% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the export price increased by 18%. Over the period under review, the export prices attained the maximum at $X per unit in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+4.7%), while the other leaders experienced more modest paces of growth.

Sunglasses Imports

Imports in the EU

After two years of decline, overseas purchases of sunglasses increased by 21% to X units in 2022. The total import volume increased at an average annual rate of +2.6% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. Over the period under review, imports attained the peak figure at X units in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, sunglasses imports expanded significantly to $X in 2022. The total import value increased at an average annual rate of +4.9% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 24%. Over the period under review, imports reached the peak figure in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2022, Germany (X units), distantly followed by Italy (X units), France (X units), Spain (X units), the Netherlands (X units) and Poland (X units) represented the largest importers of sunglasses, together achieving 75% of total imports. The Czech Republic (X units), Greece (X units), Sweden (X units), Portugal (X units), Belgium (X units), Denmark (X units) and Hungary (X units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Hungary (with a CAGR of +9.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest sunglasses importing markets in the European Union were Italy ($X), France ($X) and Germany ($X), with a combined 57% share of total imports. Spain, the Netherlands, Poland, Portugal, Sweden, Belgium, Greece, the Czech Republic, Denmark and Hungary lagged somewhat behind, together comprising a further 33%.

Poland, with a CAGR of +11.5%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in the European Union amounted to $X per unit, dropping by -8.3% against the previous year. Over the last decade, it increased at an average annual rate of +2.2%. The most prominent rate of growth was recorded in 2021 when the import price increased by 26%. As a result, import price attained the peak level of $X per unit, and then dropped in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+8.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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