Morocco: Contact Lense Market 2024

Contact Lense Market Size in Morocco

The Moroccan contact lense market dropped to $X in 2022, which is down by -10.9% 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). Overall, the total consumption indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -25.0% against 2019 indices. Contact lense consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Contact Lense Exports

Exports from Morocco

Contact lense exports from Morocco fell sharply to X units in 2022, shrinking by -63.4% against the previous year's figure. Over the period under review, exports showed a dramatic contraction. The pace of growth was the most pronounced in 2021 when exports increased by 2,009% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, contact lense exports shrank sharply to $X in 2022. Overall, exports saw a dramatic shrinkage. The most prominent rate of growth was recorded in 2021 when exports increased by 3,029%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Iraq (X units) was the main destination for contact lense exports from Morocco, with a 60% share of total exports. Moreover, contact lense exports to Iraq exceeded the volume sent to the second major destination, the United Arab Emirates (X units), twofold.

From 2012 to 2022, the average annual growth rate of volume to Iraq totaled -41.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+144.0% per year) and Italy (0.0% per year).

In value terms, the largest markets for contact lense exported from Morocco were the United Arab Emirates ($X), Iraq ($X) and Italy ($X), with a combined 98% share of total exports.

Among the main countries of destination, the United Arab Emirates, with a CAGR of +1,252.1%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average contact lense export price stood at $X per unit in 2022, rising by 89% against the previous year. Overall, the export price enjoyed a significant expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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 Italy ($X per unit), while the average price for exports to Iraq ($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 Arab Emirates (+454.1%), while the prices for the other major destinations experienced more modest paces of growth.

Contact Lense Imports

Imports into Morocco

In 2022, the amount of contact lenses imported into Morocco reduced sharply to X units, waning by -19.5% on 2021 figures. Over the period under review, imports, however, saw a resilient increase. The most prominent rate of growth was recorded in 2014 when imports increased by 132%. Imports peaked at X units in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, contact lense imports shrank to $X in 2022. In general, total imports indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +2.1% 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 -24.6% against 2018 indices. The pace of growth was the most pronounced in 2016 when imports increased by 34%. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Germany (X units), the United States (X units) and France (X units) were the main suppliers of contact lense imports to Morocco, with a combined 43% share of total imports. The UK, Ireland, Italy, South Korea, Singapore and Japan lagged somewhat behind, together accounting for a further 33%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Ireland (with a CAGR of +29.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X) constituted the largest supplier of contact lenses to Morocco, comprising 44% of total imports. The second position in the ranking was held by the United States ($X), with a 17% share of total imports. It was followed by France, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value from South Korea totaled +33.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-2.0% per year) and France (-1.7% per year).

Import Prices by Country

The average contact lense import price stood at $X per unit in 2022, growing by 22% against the previous year. Overall, the import price, however, showed a noticeable decrease. The pace of growth was the most pronounced in 2015 an increase of 30%. Over the period under review, average import prices attained the peak figure at $X per unit in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was South Korea ($X per unit), while the price for Germany ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+6.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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