Europe: Sunglasses Market 2024

Sunglasses Market Size in Europe

In 2022, the Europe sunglasses market increased by 55% to $X, rising for the second consecutive year after two years of decline. The total consumption indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +5.1% 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 +67.9% against 2020 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Sunglasses Production in Europe

In value terms, sunglasses production rose notably to $X in 2022 estimated in export price. Overall, production, however, saw a pronounced shrinkage. The pace of growth was the most pronounced in 2014 with an increase of 39% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Sunglasses Exports

Exports in Europe

In 2022, overseas shipments of sunglasses increased by 9.9% to X units, rising for the second year in a row after two years of decline. The total export volume increased at an average annual rate of +3.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when exports increased by 17%. The volume of export peaked in 2022 and is likely to see gradual growth in years to come.

In value terms, sunglasses exports expanded rapidly to $X in 2022. The total export value increased at an average annual rate of +4.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when exports increased by 39%. The level of export peaked in 2022 and is likely to see gradual growth in years to come.

Exports by Country

Italy represented the major exporting country with an export of around X units, which reached 43% of total exports. Germany (X units) took a 14% share (based on physical terms) of total exports, which put it in second place, followed by the Netherlands (8.4%), Spain (6.9%) and Poland (6.8%). The following exporters - France (X units), the Czech Republic (X units), Hungary (X units), the UK (X units) and Belgium (X units) - together made up 12% of total exports.

Exports from Italy increased at an average annual rate of +2.0% from 2012 to 2022. At the same time, Hungary (+18.0%), 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, Hungary emerged as the fastest-growing exporter exported in Europe, with a CAGR of +18.0% from 2012-2022. By contrast, Belgium (-8.7%) and the UK (-10.7%) illustrated a downward trend over the same period. Germany (+9.1 p.p.), Poland (+4.5 p.p.), Spain (+2.2 p.p.) and Hungary (+1.6 p.p.) significantly strengthened its position in terms of the total exports, while Belgium, the UK and Italy saw its share reduced by -4.5%, -6.1% and -6.8% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Italy ($X) remains the largest sunglasses supplier in Europe, comprising 73% of total exports. The second position in the ranking was taken by France ($X), with a 6.2% share of total exports. It was followed by Germany, with a 6.2% share.

From 2012 to 2022, the average annual growth rate of value in Italy totaled +4.8%. The remaining exporting countries recorded the following average annual rates of exports growth: France (+3.7% per year) and Germany (+6.8% per year).

Export Prices by Country

In 2022, the export price in Europe amounted to $X per unit, with an increase of 2.5% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.2%. The most prominent rate of growth was recorded in 2021 when the export price increased by 19%. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

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 ($X per unit), while Hungary ($X per unit) was amongst the lowest.

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

Sunglasses Imports

Imports in Europe

In 2022, overseas purchases of sunglasses increased by 27% to X units, rising for the second year in a row after two years of decline. The total import volume increased at an average annual rate of +2.5% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, sunglasses imports expanded rapidly to $X in 2022. The total import value increased at an average annual rate of +4.2% 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 when imports increased by 25% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the near future.

Imports by Country

The UK (X units) and Germany (X units) were the largest importers of sunglasses in 2022, finishing at near 17% and 16% of total imports, respectively. Italy (X units) ranks next in terms of the total imports with a 9.2% share, followed by France (9%), Spain (8.7%), the Netherlands (6.7%), Poland (5.3%) and Russia (5.2%). The following importers - the Czech Republic (X units), Greece (X units) and Sweden (X units) - each resulted at a 6% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Poland (with a CAGR of +8.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), France ($X) and Germany ($X) constituted the countries with the highest levels of imports in 2022, together comprising 46% of total imports. The UK, Spain, the Netherlands, Poland, Russia, Sweden, Greece and the Czech Republic lagged somewhat behind, together comprising a further 32%.

Among the main importing countries, Poland, with a CAGR of +11.5%, saw 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 import price in Europe stood at $X per unit in 2022, shrinking by -13.8% against the previous year. Over the last decade, it increased at an average annual rate of +1.7%. The most prominent rate of growth was recorded in 2021 when the import price increased by 24%. As a result, import price attained the peak level of $X per unit, and then declined 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 ($X per unit), while Russia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+4.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform