Luxembourg: Sunglasses Market 2024

Sunglasses Market Size in Luxembourg

The Luxembourg sunglasses market surged to $X in 2022, picking up by 16% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +2.6% from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations in certain years. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Sunglasses Exports

Exports from Luxembourg

In 2022, approx. X units of sunglasses were exported from Luxembourg; with a decrease of -33.4% compared with 2021 figures. Overall, exports recorded a noticeable curtailment. The growth pace was the most rapid in 2014 when exports increased by 328% against the previous year. As a result, the exports attained the peak of X units. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, sunglasses exports declined notably to $X in 2022. In general, exports, however, enjoyed buoyant growth. The growth pace was the most rapid in 2014 when exports increased by 213%. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

France (X units), Belgium (X units) and Italy (X units) were the main destinations of sunglasses exports from Luxembourg, together comprising 81% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Italy (with a CAGR of +76.1%), while the other leaders experienced more modest paces of growth.

In value terms, France ($X) remains the key foreign market for sunglasses exports from Luxembourg, comprising 47% of total exports. The second position in the ranking was held by the United States ($X), with a 20% share of total exports. It was followed by Italy, with a 9.3% share.

From 2012 to 2022, the average annual growth rate of value to France stood at +7.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+58.1% per year) and Italy (+75.2% per year).

Export Prices by Country

In 2022, the average sunglasses export price amounted to $X per unit, increasing by 12% against the previous year. Overall, the export price saw a strong increase. The pace of growth was the most pronounced in 2018 an increase of 117%. As a result, the export price attained the peak level of $X per unit. From 2019 to 2022, the average export prices remained at a somewhat lower figure.

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 the United States ($X per unit), while the average price for exports to Belgium ($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 the United States (+21.4%), while the prices for the other major destinations experienced more modest paces of growth.

Sunglasses Imports

Imports into Luxembourg

In 2022, sunglasses imports into Luxembourg expanded sharply to X units, increasing by 15% against the year before. Overall, total imports indicated tangible growth from 2012 to 2022: its volume increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -16.6% against 2020 indices. The growth pace was the most rapid in 2020 when imports increased by 30%. As a result, imports reached the peak of X units. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, sunglasses imports expanded remarkably to $X in 2022. The total import value increased at an average annual rate of +1.8% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The pace of growth was the most pronounced in 2014 when imports increased by 19%. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports failed to regain momentum.

Imports by Country

China (X units), Belgium (X units) and France (X units) were the main suppliers of sunglasses imports to Luxembourg, with a combined 78% share of total imports. Italy, Spain, Germany and the Netherlands lagged somewhat behind, together accounting for a further 17%.

From 2012 to 2022, the biggest increases were recorded for Spain (with a CAGR of +21.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest sunglasses suppliers to Luxembourg were Belgium ($X), Italy ($X) and China ($X), together comprising 68% of total imports. France, Germany, the Netherlands and Spain lagged somewhat behind, together accounting for a further 21%.

In terms of the main suppliers, Spain, with a CAGR of +21.3%, recorded the highest rates of growth with regard to 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 average sunglasses import price stood at $X per unit in 2022, which is down by -3.1% against the previous year. Overall, the import price continues to indicate a slight shrinkage. The most prominent rate of growth was recorded in 2021 an increase of 46%. Over the period under review, average import prices reached the peak figure at $X per unit in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

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 (+3.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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