Latin America and the Caribbean: Spectacle Frame Market 2024

Spectacle Frame Market Size in Latin America and the Caribbean

In 2022, the Latin American spectacle frame market increased by X% to $X, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the maximum level in 2022 and is likely to see gradual growth in the immediate term.

Spectacle Frame Production in Latin America and the Caribbean

In value terms, spectacle frame production declined modestly to $X in 2022 estimated in export price. In general, production saw a noticeable downturn. The pace of growth appeared the most rapid in 2018 with an increase of X%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Spectacle Frame Exports

Exports in Latin America and the Caribbean

Spectacle frame exports soared to X units in 2022, increasing by X% on 2021. In general, exports enjoyed buoyant growth. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in years to come.

In value terms, spectacle frame exports surged to $X in 2022. Total exports indicated tangible growth from 2012 to 2022: its value 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. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Brazil prevails in exports structure, resulting at X units, which was near X% of total exports in 2022. It was distantly followed by Mexico (X units) and Chile (X units), together committing a X% share of total exports. The following exporters - Panama (X units), Cuba (X units), Colombia (X units) and Peru (X units) - together made up X% of total exports.

Brazil was also the fastest-growing in terms of the frames and mountings for spectacles, goggles or the like exports, with a CAGR of X% from 2012 to 2022. At the same time, Peru (X%), Cuba (X%), Mexico (X%) and Chile (X%) displayed positive paces of growth. By contrast, Colombia (X%) and Panama (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Brazil, Cuba and Peru increased by X, X and X percentage points, respectively.

In value terms, Brazil ($X) remains the largest spectacle frame supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was taken by Panama ($X), with a X% share of total exports. It was followed by Cuba, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Brazil totaled X%. The remaining exporting countries recorded the following average annual rates of exports growth: Panama (X% per year) and Cuba (X% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per unit in 2022, increasing by X% against the previous year. In general, the export price, however, continues to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2015 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2016 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Cuba ($X per unit), while Mexico ($X per unit) was amongst the lowest.

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

Spectacle Frame Imports

Imports in Latin America and the Caribbean

In 2022, overseas purchases of frames and mountings for spectacles, goggles or the like increased by X% to X units, rising for the second year in a row after five years of decline. Over the period under review, imports enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to see steady growth in the near future.

In value terms, spectacle frame imports rose notably to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by X%. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Imports by Country

Mexico dominates imports structure, reaching X units, which was approx. X% of total imports in 2022. It was distantly followed by Chile (X units), Peru (X units) and Brazil (X units), together creating a X% share of total imports. Ecuador (X units) and Argentina (X units) held a relatively small share of total imports.

From 2012 to 2022, average annual rates of growth with regard to spectacle frame imports into Mexico stood at X%. At the same time, Peru (X%), Ecuador (X%) and Chile (X%) displayed positive paces of growth. Moreover, Peru emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. Argentina and Brazil experienced a relatively flat trend pattern. While the share of Mexico (X p.p.), Peru (X p.p.) and Ecuador (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Argentina (X p.p.) and Brazil (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported frames and mountings for spectacles, goggles or the like in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was held by Brazil ($X), with a X% share of total imports. It was followed by Peru, with a X% share.

In Mexico, spectacle frame imports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Brazil (X% per year) and Peru (X% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per unit in 2022, falling by X% against the previous year. In general, the import price showed a perceptible decrease. The growth pace was the most rapid in 2017 an increase of X% against the previous year. The level of import peaked at $X per unit in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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