MERCOSUR: Sunglasses Market 2024

Sunglasses Market Size in MERCOSUR

The MERCOSUR sunglasses market reduced to $X in 2022, waning by -5.5% against the previous year. Over the period under review, consumption saw a deep contraction. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Sunglasses Production in MERCOSUR

In value terms, sunglasses production stood at $X in 2022 estimated in export price. In general, production, however, continues to indicate a mild curtailment. The pace of growth was the most pronounced in 2014 when the production volume increased by 18%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Sunglasses Exports

Exports in MERCOSUR

In 2022, exports of sunglasses in MERCOSUR soared to X units, surging by 117% compared with the previous year. Over the period under review, exports saw a remarkable increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, sunglasses exports skyrocketed to $X in 2022. Overall, exports showed a resilient expansion. The pace of growth was the most pronounced in 2021 when exports increased by 99%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Brazil dominates exports structure, amounting to X units, which was near 94% of total exports in 2022. The following exporters - Peru (X units) and Chile (X units) - together made up 5% of total exports.

Brazil was also the fastest-growing in terms of the sunglasses exports, with a CAGR of +34.2% from 2012 to 2022. At the same time, Peru (+12.7%) displayed positive paces of growth. By contrast, Chile (-5.6%) illustrated a downward trend over the same period. Brazil (+64 p.p.) significantly strengthened its position in terms of the total exports, while Peru and Chile saw its share reduced by -2.8% and -17.5% from 2012 to 2022, respectively.

In value terms, Brazil ($X) remains the largest sunglasses supplier in MERCOSUR, comprising 87% of total exports. The second position in the ranking was taken by Chile ($X), with a 7% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Brazil totaled +29.8%. The remaining exporting countries recorded the following average annual rates of exports growth: Chile (-1.0% per year) and Peru (+11.5% per year).

Export Prices by Country

The export price in MERCOSUR stood at $X per unit in 2022, dropping by -18.5% against the previous year. In general, the export price saw a pronounced decline. The most prominent rate of growth was recorded in 2014 when the export price increased by 17% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2015 to 2022, the export prices remained at a somewhat lower figure.

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 Chile ($X per unit), while Brazil ($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 (+4.9%), while the other leaders experienced a decline in the export price figures.

Sunglasses Imports

Imports in MERCOSUR

In 2022, approx. X units of sunglasses were imported in MERCOSUR; reducing by -2.2% compared with the previous year. In general, imports continue to indicate a perceptible decrease. The pace of growth appeared the most rapid in 2021 with an increase of 24%. Over the period under review, imports attained the maximum at X units in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, sunglasses imports totaled $X in 2022. Over the period under review, imports continue to indicate a pronounced curtailment. The most prominent rate of growth was recorded in 2021 when imports increased by 43%. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Chile (X units) represented the key importer of sunglasses, making up 39% of total imports. Brazil (X units) held a 20% share (based on physical terms) of total imports, which put it in second place, followed by Colombia (16%), Peru (9.9%) and Ecuador (6.1%). Argentina (X units) and Uruguay (X units) took a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Chile (with a CAGR of +2.3%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest sunglasses importing markets in MERCOSUR were Brazil ($X), Chile ($X) and Argentina ($X), together accounting for 66% of total imports.

Among the main importing countries, Argentina, with a CAGR of +6.6%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

In 2022, the import price in MERCOSUR amounted to $X per unit, with an increase of 6.1% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the import price increased by 16%. The level of import peaked at $X per unit in 2014; however, from 2015 to 2022, import prices remained at a 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 Argentina ($X per unit), while Ecuador ($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 (+9.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform