Report Update Nov 1, 2024

Nigeria - Spectacles and Goggles - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Spectacles And Goggles Market 2024

Spectacles And Goggles Market Size in Nigeria

In 2021, the Nigerien spectacles and goggles market decreased by -37.6% to $X, falling for the second year in a row after three years of growth. Overall, consumption saw a deep reduction. Spectacles and goggles consumption peaked at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Spectacles And Goggles Exports

Exports from Nigeria

In 2021, shipments abroad of spectacles and goggles decreased by -64.7% to X units for the first time since 2018, thus ending a two-year rising trend. Overall, exports showed a abrupt slump. The most prominent rate of growth was recorded in 2016 with an increase of 1,956%. As a result, the exports attained the peak of X units. From 2017 to 2021, the growth of the exports failed to regain momentum.

In value terms, spectacles and goggles exports dropped remarkably to $X in 2021. In general, exports showed a abrupt slump. The most prominent rate of growth was recorded in 2016 with an increase of 262%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Cote d'Ivoire (X units), China (X units) and South Africa (X units) were the main destinations of spectacles and goggles exports from Nigeria, with a combined 72% share of total exports. These countries were followed by Niger, Germany, the UK and Senegal, which together accounted for a further 20%.

From 2012 to 2021, the biggest increases were recorded for Niger (with a CAGR of +31.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for spectacles and goggles exported from Nigeria were Cote d'Ivoire ($X), China ($X) and Niger ($X), together accounting for 64% of total exports.

Among the main countries of destination, Niger, with a CAGR of +22.3%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average spectacles and goggles export price stood at $X per unit in 2021, jumping by 40% against the previous year. In general, the export price, however, continues to indicate a deep downturn. The most prominent rate of growth was recorded in 2018 when the average export price increased by 328% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Senegal ($X per unit), while the average price for exports to South Africa ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Zambia (+56.0%), while the prices for the other major destinations experienced mixed trend patterns.

Spectacles And Goggles Imports

Imports into Nigeria

In 2021, supplies from abroad of spectacles and goggles decreased by -48.4% to X units, falling for the second consecutive year after three years of growth. In general, imports recorded a abrupt setback. The growth pace was the most rapid in 2018 with an increase of 53% against the previous year. Imports peaked at X units in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, spectacles and goggles imports expanded rapidly to $X in 2021. Overall, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 67% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X units) constituted the largest spectacles and goggles supplier to Nigeria, with a 88% share of total imports. Moreover, spectacles and goggles imports from China exceeded the figures recorded by the second-largest supplier, France (X units), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume from China amounted to -7.4%. The remaining supplying countries recorded the following average annual rates of imports growth: France (-5.1% per year) and the UK (-20.5% per year).

In value terms, the UK ($X), China ($X) and France ($X) appeared to be the largest spectacles and goggles suppliers to Nigeria, with a combined 76% share of total imports.

The UK, with a CAGR of +19.0%, saw 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 mixed trend patterns.

Import Prices by Country

The average spectacles and goggles import price stood at $X per unit in 2021, increasing by 110% against the previous year. Overall, the import price enjoyed prominent growth. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+49.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for spectacles and goggles in the world?

The countries with the highest volumes of spectacles and goggles consumption in 2020 were China, the United States and India, together comprising 41% of global consumption. The UK, Japan, Australia, Mexico, Italy, Germany, Ireland and South Korea lagged somewhat behind, together comprising a further 30%.

What are the largest producers of spectacles and goggles in the world?

China remains the largest spectacles and goggles producing country worldwide, accounting for 58% of total volume. Moreover, spectacles and goggles production in China exceeded the figures recorded by the second-largest producer, Taiwan Chinese), sixfold. The third position in this ranking was occupied by India, with a 7.8% share.

What are the leading suppliers of spectacles and goggles to Nigeria?

In value terms, China constituted the largest supplier of spectacles and goggles to Nigeria, comprising 76% of total imports. The second position in the ranking was occupied by Germany, with a 4.7% share of total imports. It was followed by the UK, with a 3.2% share.

What are the leading importers of spectacles and goggles from Nigeria?

In value terms, the largest markets for spectacles and goggles exported from Nigeria were China, Niger and Benin $970), with a combined 91% share of total exports.

What is the average export price for spectacles and goggles in Nigeria?

The average spectacles and goggles export price stood at $3 per unit in 2020, waning by -6.6% against the previous year.

What is the average import price for spectacles and goggles in Nigeria?

In 2020, the average spectacles and goggles import price amounted to $2.4 per unit, surging by 3.7% against the previous year.

This report provides an in-depth analysis of the spectacles and goggles market in Nigeria. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 32504290 - Spectacles, goggles and the like, corrective, protective or other (excluding sunglasses)

Country coverage:

Nigeria

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Nigeria
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023