Republic of Korea: Sunglasses Market 2025

Sunglasses Market Size in Republic of Korea

The South Korean sunglasses market dropped to $X in 2022, with a decrease of -7.7% against the previous year. Overall, the total consumption indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +1.8% against 2020 indices. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Sunglasses Production in Republic of Korea

In value terms, sunglasses production dropped to $X in 2022 estimated in export price. In general, production, however, saw buoyant growth. The most prominent rate of growth was recorded in 2014 with an increase of 98%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Sunglasses Exports

Exports from Republic of Korea

In 2022, sunglasses exports from South Korea skyrocketed to X units, with an increase of 84% against 2021 figures. Over the period under review, exports showed a significant expansion. The most prominent rate of growth was recorded in 2015 with an increase of 106%. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, sunglasses exports surged to $X in 2022. In general, exports posted significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China (X units) was the main destination for sunglasses exports from South Korea, with a 48% share of total exports. Moreover, sunglasses exports to China exceeded the volume sent to the second major destination, the United States (X units), threefold. Hong Kong SAR (X units) ranked third in terms of total exports with a 4.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to China stood at +61.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+17.1% per year) and Hong Kong SAR (+10.2% per year).

In value terms, China ($X) remains the key foreign market for sunglasses exports from South Korea, comprising 48% of total exports. The second position in the ranking was held by the United States ($X), with a 17% share of total exports. It was followed by Hong Kong SAR, with a 4.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China stood at +72.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+24.4% per year) and Hong Kong SAR (+17.2% per year).

Export Prices by Country

The average sunglasses export price stood at $X per unit in 2022, growing by 34% against the previous year. In general, export price indicated a buoyant increase 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. The pace of growth was the most pronounced in 2014 when the average export price increased by 36%. Over the period under review, the average export prices attained the peak figure in 2022 and is likely to see steady growth in the immediate term.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were Canada ($X per unit) and Australia ($X per unit), while the average price for exports to Taiwan (Chinese) ($X per unit) and Singapore ($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 the United Arab Emirates (+6.3%), while the prices for the other major destinations experienced more modest paces of growth.

Sunglasses Imports

Imports into Republic of Korea

Sunglasses imports into South Korea fell to X units in 2022, with a decrease of -5.5% on the year before. In general, imports showed a abrupt curtailment. The pace of growth appeared the most rapid in 2016 with an increase of 42%. 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 declined to $X in 2022. Overall, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when imports increased by 32% against the previous year. As a result, imports reached the peak of $X. From 2020 to 2022, the growth of imports remained at a lower figure.

Imports by Country

China (X units), Italy (X units) and the United States (X units) were the main suppliers of sunglasses imports to South Korea, with a combined 89% share of total imports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +0.8%), while purchases for the other leaders experienced a decline.

In value terms, the largest sunglasses suppliers to South Korea were China ($X), Italy ($X) and the United States ($X), with a combined 89% share of total imports.

Among the main suppliers, China, with a CAGR of +12.0%, recorded the highest growth rate of 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, approximately mirroring the previous year. Over the period under review, the import price, however, saw a resilient expansion. The most prominent rate of growth was recorded in 2014 an increase of 89% against the previous year. The import price peaked at $X per unit in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+11.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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