Hong Kong SAR, China: Spectacle Frame Market 2024

Spectacle Frame Market Size in Hong Kong SAR, China

In 2022, the Hong Kong spectacle frame market decreased by X% to $X, falling for the second year in a row after two years of growth. Overall, consumption showed a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Spectacle Frame Production in Hong Kong SAR, China

In value terms, spectacle frame production amounted to $X in 2022 estimated in export price. In general, production continues to indicate a perceptible descent. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. Spectacle frame production peaked at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

Spectacle Frame Exports

Exports from Hong Kong SAR, China

In 2022, the amount of frames and mountings for spectacles, goggles or the like exported from Hong Kong SAR fell to X units, with a decrease of X% against the previous year. In general, exports saw a slight shrinkage. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X units in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, spectacle frame exports fell modestly to $X in 2022. The total export value increased at an average annual rate of X% 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 2016 with an increase of X% against the previous year. As a result, the exports attained the peak of $X. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United States (X units), Italy (X units) and China (X units) were the main destinations of spectacle frame exports from Hong Kong SAR, with a combined X% share of total exports. France, Germany, Thailand, the UK, the Netherlands, Australia, Japan and India lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Thailand (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Italy ($X) and China ($X) appeared to be the largest markets for spectacle frame exported from Hong Kong SAR worldwide, together accounting for X% of total exports. France, Germany, Australia, Thailand, Japan, the UK, India and the Netherlands lagged somewhat behind, together comprising a further X%.

In terms of the main countries of destination, India, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, 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 spectacle frame export price amounted to $X per unit, rising by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2013 an increase of X% against the previous year. The export price peaked at $X per unit in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

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

Spectacle Frame Imports

Imports into Hong Kong SAR, China

Spectacle frame imports into Hong Kong SAR shrank markedly to X units in 2022, declining by X% compared with 2021 figures. Overall, imports saw a slight curtailment. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at X units in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, spectacle frame imports shrank to $X in 2022. Over the period under review, imports, however, continue to indicate a buoyant expansion. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. Imports peaked at $X in 2021, and then fell in the following year.

Imports by Country

In 2022, China (X units) was the main spectacle frame supplier to Hong Kong SAR, accounting for a approx. X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to X%.

In value terms, China ($X) constituted the largest supplier of frames and mountings for spectacles, goggles or the like to Hong Kong SAR.

From 2012 to 2022, the average annual growth rate of value from China amounted to X%.

Import Prices by Country

The average spectacle frame import price stood at $X per unit in 2022, increasing by X% against the previous year. In general, import price indicated resilient growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, spectacle frame import price increased by X% against 2016 indices. The growth pace was the most rapid in 2014 an increase of X%. Over the period under review, average import prices attained the maximum in 2022 and is expected to retain growth in the near future.

As there is only one major supplying country, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for China amounted to X% per year.

Source: IndexBox Platform

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