Thailand: Sunglasses Market 2024

Sunglasses Market Size in Thailand

The Thai sunglasses market expanded rapidly to $X in 2022, increasing by 15% against the previous year. The market value increased at an average annual rate of +2.9% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Sunglasses consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Sunglasses Production in Thailand

In value terms, sunglasses production fell to $X in 2022 estimated in export price. Overall, production, however, posted a notable increase. The most prominent rate of growth was recorded in 2017 when the production volume increased by 313% against the previous year. 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 Thailand

In 2022, overseas shipments of sunglasses were finally on the rise to reach X units after three years of decline. In general, exports showed a resilient expansion. The most prominent rate of growth was recorded in 2018 with an increase of 161% against the previous year. As a result, the exports reached the peak of X units. From 2019 to 2022, the growth of the exports failed to regain momentum.

In value terms, sunglasses exports skyrocketed to $X in 2022. Overall, exports recorded a resilient increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The UK (X units), Australia (X units) and the United States (X units) were the main destinations of sunglasses exports from Thailand, with a combined 46% share of total exports. Maldives, Germany, China, Italy, Canada, Vietnam, the United Arab Emirates, Sweden, Brazil and France lagged somewhat behind, together accounting for a further 40%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by France (with a CAGR of +61.4%), while the other leaders experienced more modest paces of growth.

In value terms, the UK ($X), Australia ($X) and the United States ($X) appeared to be the largest markets for sunglasses exported from Thailand worldwide, with a combined 48% share of total exports. Italy, China, Germany, Canada, France, Vietnam, Sweden, the United Arab Emirates, Brazil and Maldives lagged somewhat behind, together comprising a further 27%.

Among the main countries of destination, France, with a CAGR of +77.5%, saw 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 sunglasses export price stood at $X per unit in 2022, with an increase of 27% against the previous year. In general, export price indicated a prominent expansion from 2012 to 2022: its price increased at an average annual rate of +5.5% 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 +106.3% against 2018 indices. The most prominent rate of growth was recorded in 2019 an increase of 46%. Over the period under review, the average export prices hit record highs in 2022 and is likely to see steady growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Italy ($X per unit), while the average price for exports to Maldives ($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 Canada (+32.2%), while the prices for the other major destinations experienced more modest paces of growth.

Sunglasses Imports

Imports into Thailand

In 2022, after five years of decline, there was significant growth in supplies from abroad of sunglasses, when their volume increased by 65% to X units. Over the period under review, imports continue to indicate a relatively flat trend pattern. Imports peaked at X units in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, sunglasses imports skyrocketed to $X in 2022. Overall, imports recorded a relatively flat trend pattern. Imports peaked at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

Japan (X units), Italy (X units) and China (X units) were the main suppliers of sunglasses imports to Thailand, with a combined 83% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Japan (with a CAGR of +11.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), China ($X) and the United States ($X) appeared to be the largest sunglasses suppliers to Thailand, with a combined 90% share of total imports.

In terms of the main suppliers, the United States, with a CAGR of +11.2%, recorded the highest rates of growth with regard to 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, waning by -3.2% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 an increase of 40% against the previous year. The import price peaked at $X per unit in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($X per unit), while the price for Japan ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+9.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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