Report Update Nov 1, 2024

Vietnam - Contact Lenses - Market Analysis, Forecast, Size, Trends and Insights

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Vietnam: Contact Lense Market 2024

Contact Lense Market Size in Vietnam

The Vietnamese contact lense market contracted to $X in 2022, waning by -3.5% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, saw modest growth. Over the period under review, the market reached the maximum level at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Contact Lense Exports

Exports from Vietnam

In 2022, contact lense exports from Vietnam declined rapidly to X units, with a decrease of -46.4% compared with the year before. Over the period under review, exports faced a drastic downturn. The most prominent rate of growth was recorded in 2021 when exports increased by 485%. The exports peaked at X units in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, contact lense exports contracted significantly to $X in 2022. Overall, exports showed a perceptible contraction. The pace of growth appeared the most rapid in 2021 with an increase of 893%. Over the period under review, the exports attained the peak figure at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Germany (X units), South Korea (X units) and Thailand (X units) were the main destinations of contact lense exports from Vietnam, with a combined 61% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by South Korea (with a CAGR of +62.2%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), South Korea ($X) and Thailand ($X) were the largest markets for contact lense exported from Vietnam worldwide, with a combined 77% share of total exports.

In terms of the main countries of destination, South Korea, with a CAGR of +77.4%, saw the highest rates of growth with regard to 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

In 2022, the average contact lense export price amounted to $X per unit, increasing by 2.6% against the previous year. Overall, the export price recorded prominent growth. The pace of growth appeared the most rapid in 2019 an increase of 175% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2020 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was South Korea ($X per unit), while the average price for exports to Norway ($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 the United States (+9.6%), while the prices for the other major destinations experienced more modest paces of growth.

Contact Lense Imports

Imports into Vietnam

In 2022, imports of contact lenses into Vietnam declined to X units, which is down by -8.1% compared with 2021 figures. Overall, imports, however, showed a pronounced increase. The growth pace was the most rapid in 2015 with an increase of 165% against the previous year. Imports peaked at X units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, contact lense imports rose modestly to $X in 2022. In general, imports recorded a perceptible setback. The pace of growth was the most pronounced in 2015 when imports increased by 212%. Over the period under review, imports hit record highs at $X in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

Imports by Country

South Korea (X units), Japan (X units) and Taiwan (Chinese) (X units) were the main suppliers of contact lense imports to Vietnam, together comprising 79% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Taiwan (Chinese) (with a CAGR of +42.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X) constituted the largest supplier of contact lenses to Vietnam, comprising 45% of total imports. The second position in the ranking was taken by Italy ($X), with a 16% share of total imports. It was followed by Myanmar, with a 12% share.

From 2012 to 2022, the average annual growth rate of value from South Korea was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+31.6% per year) and Myanmar (+23.2% per year).

Import Prices by Country

In 2022, the average contact lense import price amounted to $X per unit, rising by 12% against the previous year. Over the period under review, the import price, however, saw a abrupt curtailment. The pace of growth appeared the most rapid in 2015 when the average import price increased by 18%. The import price peaked at $X per unit in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

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 the UK (+5.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for contact lenses in the world?

The countries with the highest volumes of in 2021 were Japan, South Africa and the UK, with a combined 53% share of global consumption. These countries were followed by the United States, Ireland, Italy, Indonesia and Sweden, which together accounted for a further 21%.

What are the largest producers of contact lenses in the world?

South Africa remains the largest contact lense producing country worldwide, accounting for 37% of total volume. Moreover, contact lense production in South Africa exceeded the figures recorded by the second-largest producer, Ireland, twofold. Belgium ranked third in terms of total production with a 9.4% share.

What are the leading suppliers of contact lenses to Vietnam?

In value terms, the largest contact lense suppliers to Vietnam were South Korea and Myanmar.

What are the leading importers of contact lenses from Vietnam?

In value terms, Switzerland remains the key foreign market for contact lense exports from Vietnam, comprising 54% of total exports. The second position in the ranking was occupied by Indonesia, with a 24% share of total exports. It was followed by Slovakia, with a 7% share.

What is the average export price for contact lenses in Vietnam?

The average contact lense export price stood at $1.3 per unit in 2021, declining by -19.7% against the previous year.

What is the average import price for contact lenses in Vietnam?

The average contact lense import price stood at $0.6 per unit in 2021, falling by -2.7% against the previous year.

This report provides an in-depth analysis of the contact lense market in Vietnam. 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 32504130 - Contact lenses

Country coverage:

Vietnam

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Vietnam
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