Hong Kong SAR, China: Sunglasses Market 2025

Sunglasses Market Size in Hong Kong SAR, China

The Hong Kong sunglasses market reduced modestly to $X in 2022, waning by -3.1% against the previous year. In general, consumption, however, showed a prominent expansion. Over the period under review, the market reached the peak level at $X in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

Sunglasses Production in Hong Kong SAR, China

In value terms, sunglasses production reduced sharply to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a significant decline. The most prominent rate of growth was recorded in 2016 with an increase of 144% against the previous year. Sunglasses production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Sunglasses Exports

Exports from Hong Kong SAR, China

In 2022, overseas shipments of sunglasses increased by 0.3% to X units, rising for the second year in a row after four years of decline. Overall, exports, however, recorded a perceptible shrinkage. The pace of growth appeared the most rapid in 2016 when exports increased by 47% against the previous year. Over the period under review, the exports reached the maximum at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, sunglasses exports rose to $X in 2022. Over the period under review, exports continue to indicate a perceptible increase. The pace of growth was the most pronounced in 2016 when exports increased by 117% against the previous year. As a result, the exports attained the peak of $X. From 2017 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

The United States (X units), Italy (X units) and Australia (X units) were the main destinations of sunglasses exports from Hong Kong SAR, together comprising 60% of total exports. France, Spain, China, the Netherlands, Japan, Russia, India, Germany, the Philippines and the UK lagged somewhat behind, together comprising a further 31%.

From 2012 to 2022, the biggest increases were recorded for Russia (with a CAGR of +23.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Italy ($X) and Australia ($X) appeared to be the largest markets for sunglasses exported from Hong Kong SAR worldwide, with a combined 53% share of total exports. Japan, China, Spain, India, France, the Netherlands, Russia, Germany, the UK and the Philippines lagged somewhat behind, together comprising a further 33%.

Among the main countries of destination, Russia, with a CAGR of +27.8%, saw the highest growth rate of 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 sunglasses export price amounted to $X per unit, surging by 4.5% against the previous year. In general, the export price recorded strong growth. The pace of growth appeared the most rapid in 2016 an increase of 48%. Over the period under review, the average export prices hit record highs at $X per unit in 2020; afterwards, it flattened through to 2022.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per unit), while the average price for exports to the Philippines ($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 Japan (+17.6%), while the prices for the other major destinations experienced more modest paces of growth.

Sunglasses Imports

Imports into Hong Kong SAR, China

In 2022, imports of sunglasses into Hong Kong SAR shrank slightly to X units, with a decrease of -3.7% on the previous year's figure. In general, imports continue to indicate a mild contraction. The most prominent rate of growth was recorded in 2016 with an increase of 88% against the previous year. As a result, imports attained the peak of X units. From 2017 to 2022, the growth of imports remained at a lower figure.

In value terms, sunglasses imports rose rapidly to $X in 2022. Over the period under review, imports, however, recorded prominent growth. The growth pace was the most rapid in 2016 with an increase of 144% against the previous year. Over the period under review, imports reached the maximum at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest sunglasses supplier to Hong Kong SAR, accounting for a 86% share of total imports. Moreover, sunglasses imports from China exceeded the figures recorded by the second-largest supplier, Italy (X units), tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to -1.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+5.2% per year) and the United States (+14.2% per year).

In value terms, China ($X) constituted the largest supplier of sunglasses to Hong Kong SAR, comprising 65% of total imports. The second position in the ranking was taken by Italy ($X), with a 22% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China amounted to +16.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+5.4% per year) and the United States (+22.6% per year).

Import Prices by Country

In 2022, the average sunglasses import price amounted to $X per unit, with an increase of 11% against the previous year. Over the period under review, the import price posted a buoyant expansion. The pace of growth appeared the most rapid in 2017 when the average import price increased by 38% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is likely to see steady growth in the immediate term.

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 Italy ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+18.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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