Morocco: Sunglasses Market 2024

Sunglasses Market Size in Morocco

The Moroccan sunglasses market fell rapidly to $X in 2022, dropping by -16.4% 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, consumption, however, saw resilient growth. As a result, consumption attained the peak level of $X, and then shrank sharply in the following year.

Sunglasses Exports

Exports from Morocco

For the fourth consecutive year, Morocco recorded growth in overseas shipments of sunglasses, which increased by 139% to X units in 2022. Over the period under review, exports continue to indicate prominent growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, sunglasses exports surged to $X in 2022. In general, exports showed a resilient expansion. The most prominent rate of growth was recorded in 2014 when exports increased by 164%. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Exports by Country

France (X units) was the main destination for sunglasses exports from Morocco, with a 3.4% share of total exports. Moreover, sunglasses exports to France exceeded the volume sent to the second major destination, Tunisia (X units), twofold. The third position in this ranking was taken by the United States (X units), with a 1% share.

From 2012 to 2022, the average annual growth rate of volume to France totaled -14.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Tunisia (-50.6% per year) and the United States (+10.5% per year).

In value terms, France ($X) remains the key foreign market for sunglasses exports from Morocco, comprising 3.4% of total exports. The second position in the ranking was taken by Tunisia ($X), with a 1.4% share of total exports. It was followed by the United States, with a 1% share.

From 2012 to 2022, the average annual growth rate of value to France totaled -8.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Tunisia (-46.7% per year) and the United States (+12.4% per year).

Export Prices by Country

In 2022, the average sunglasses export price amounted to $X per unit, standing approx. at the previous year. Over the period under review, export price indicated a strong expansion from 2012 to 2022: its price increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, sunglasses export price increased by +16.4% against 2020 indices. The pace of growth appeared the most rapid in 2016 when the average export price increased by 71%. As a result, the export price attained the peak level of $X per unit. From 2017 to 2022, the average export prices remained at a lower figure.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Cote d'Ivoire ($X per unit) and Mauritania ($X per unit), while the average price for exports to China ($X per unit) and Italy ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+18.4%), while the prices for the other major destinations experienced more modest paces of growth.

Sunglasses Imports

Imports into Morocco

In 2022, sunglasses imports into Morocco shrank to X units, dropping by -10.6% compared with 2021. Over the period under review, total imports indicated pronounced growth from 2012 to 2022: its volume increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +60.1% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 79% against the previous year. As a result, imports attained the peak of X units, and then reduced in the following year.

In value terms, sunglasses imports fell to $X in 2022. Overall, imports, however, enjoyed a resilient expansion. The growth pace was the most rapid in 2021 when imports increased by 89%. As a result, imports reached the peak of $X, and then declined in the following year.

Imports by Country

China (X units), Italy (X units) and France (X units) were the main suppliers of sunglasses imports to Morocco, with a combined 94% share of total imports. These countries were followed by Japan, which accounted for a further 3.1%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Japan (with a CAGR of +11.8%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the largest sunglasses suppliers to Morocco were China ($X), Italy ($X) and France ($X), with a combined 94% share of total imports. Japan lagged somewhat behind, accounting for a further 3.1%.

Japan, with a CAGR of +14.6%, recorded the highest growth rate of the value of imports, among the main suppliers 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, falling by -4.5% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.5%. The pace of growth was the most pronounced in 2017 when the average import price increased by 9.2% against the previous year. Over the period under review, average import prices attained the maximum at $X per unit in 2021, and then dropped slightly in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were China ($X per unit) and Italy ($X per unit), while the price for Japan ($X per unit) and France ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+2.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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