United Kingdom: Spectacle Frame Market 2024

Spectacle Frame Market Size in the UK

The UK spectacle frame market was finally on the rise to reach $X in 2022, after three years of decline. In general, consumption, however, saw a mild increase. Spectacle frame consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Spectacle Frame Production in the UK

In value terms, spectacle frame production contracted modestly to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of X%. As a result, production attained the peak level of $X. From 2014 to 2022, production growth remained at a lower figure.

Spectacle Frame Exports

Exports from the UK

In 2022, overseas shipments of frames and mountings for spectacles, goggles or the like increased by X% to X units, rising for the second consecutive year after three years of decline. Over the period under review, exports, however, continue to indicate a deep reduction. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, the exports reached the peak figure at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, spectacle frame exports dropped to $X in 2022. In general, exports, however, showed a drastic downturn. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Ireland (X units) was the main destination for spectacle frame exports from the UK, with a X% share of total exports. Moreover, spectacle frame exports to Ireland exceeded the volume sent to the second major destination, India (X units), threefold. The third position in this ranking was taken by Germany (X units), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Ireland totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (X% per year) and Germany (X% per year).

In value terms, the largest markets for spectacle frame exported from the UK were Germany ($X), Ireland ($X) and Italy ($X), together accounting for X% of total exports. The United States, Poland, the Netherlands, India, Canada, Hong Kong SAR, Hungary, Serbia, Sweden and Thailand lagged somewhat behind, together comprising a further X%.

India, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average spectacle frame export price amounted to $X per unit, waning by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The growth pace was the most rapid in 2014 an increase of X%. The export price peaked at $X per unit in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Italy ($X per unit), while the average price for exports to India ($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 Thailand (X%), while the prices for the other major destinations experienced more modest paces of growth.

Spectacle Frame Imports

Imports into the UK

In 2022, supplies from abroad of frames and mountings for spectacles, goggles or the like was finally on the rise to reach X units for the first time since 2018, thus ending a three-year declining trend. Overall, imports, however, saw a perceptible decrease. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. As a result, imports reached the peak of X units. From 2019 to 2022, the growth of imports remained at a lower figure.

In value terms, spectacle frame imports amounted to $X in 2022. Over the period under review, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 with an increase of X%. As a result, imports attained the peak of $X. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of spectacle frame to the UK, accounting for a X% share of total imports. Moreover, spectacle frame imports from China exceeded the figures recorded by the second-largest supplier, Italy (X units), more than tenfold. Hong Kong SAR (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (X% per year) and Hong Kong SAR (X% per year).

In value terms, China ($X) constituted the largest supplier of frames and mountings for spectacles, goggles or the like to the UK, comprising X% of total imports. The second position in the ranking was held by Italy ($X), with a X% share of total imports. It was followed by Hong Kong SAR, with a X% share.

From 2012 to 2022, the average annual growth rate of value from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (X% per year) and Hong Kong SAR (X% per year).

Import Prices by Country

In 2022, the average spectacle frame import price amounted to $X per unit, approximately equating the previous year. Overall, import price indicated a measured increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, spectacle frame import price increased by X% against 2018 indices. The growth pace was the most rapid in 2019 when the average import price increased by X%. The import price peaked in 2022 and is expected to retain growth in years to come.

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 ($X per unit), while the price for Vietnam ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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