SADC: Sunglasses Market 2024

Sunglasses Market Size in SADC

The SADC sunglasses market contracted slightly to $X in 2022, with a decrease of -4.1% against the previous year. In general, consumption, however, recorded a mild setback. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Sunglasses Production in SADC

In value terms, sunglasses production shrank to $X in 2022 estimated in export price. In general, production recorded a slight slump. The most prominent rate of growth was recorded in 2021 when the production volume increased by 9.7% against the previous year. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Sunglasses Exports

Exports in SADC

In 2022, shipments abroad of sunglasses increased by 0.5% to X units, rising for the second year in a row after two years of decline. Overall, exports, however, saw a drastic downturn. The most prominent rate of growth was recorded in 2018 when exports increased by 32%. Over the period under review, the exports attained the maximum at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, sunglasses exports reduced to $X in 2022. In general, exports, however, showed a abrupt slump. The pace of growth was the most pronounced in 2021 with an increase of 46% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, South Africa (X units) and Mauritius (X units) was the largest exporter of sunglasses in SADC, achieving 98% of total export.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by South Africa (with a CAGR of +8.3%).

In value terms, South Africa ($X) remains the largest sunglasses supplier in SADC, comprising 67% of total exports. The second position in the ranking was held by Mauritius ($X), with a 31% share of total exports.

In South Africa, sunglasses exports expanded at an average annual rate of +1.1% over the period from 2012-2022.

Export Prices by Country

The export price in SADC stood at $X per unit in 2022, waning by -5.4% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the export price increased by 19% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was South Africa ($X per unit), while Mauritius stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mauritius (-0.8%).

Sunglasses Imports

Imports in SADC

In 2022, overseas purchases of sunglasses increased by 12% to X units, rising for the second year in a row after two years of decline. The total import volume increased at an average annual rate of +1.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 72%. The volume of import peaked at X units in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, sunglasses imports expanded to $X in 2022. Over the period under review, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by 63% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

South Africa dominates imports structure, amounting to X units, which was near 93% of total imports in 2022. The following importers - Mauritius (X units) and Namibia (X units) - each recorded a 3.8% share of total imports.

South Africa was also the fastest-growing in terms of the sunglasses imports, with a CAGR of +1.8% from 2012 to 2022. Namibia experienced a relatively flat trend pattern. Mauritius (-4.9%) illustrated a downward trend over the same period. While the share of South Africa (+5.7 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Mauritius (-1.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) constitutes the largest market for imported sunglasses in SADC, comprising 82% of total imports. The second position in the ranking was held by Mauritius ($X), with a 5.8% share of total imports.

In South Africa, sunglasses imports remained relatively stable over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Mauritius (+4.7% per year) and Namibia (-0.9% per year).

Import Prices by Country

The import price in SADC stood at $X per unit in 2022, waning by -7.2% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 9.7%. As a result, import price reached the peak level of $X per unit. From 2018 to 2022, the 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 Mauritius ($X per unit), while South Africa ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mauritius (+10.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform