Vietnam: Spectacle Frame Market 2024

Spectacle Frame Market Size in Vietnam

The Vietnamese spectacle frame market fell modestly to $X in 2022, approximately reflecting the previous year. Overall, consumption, however, showed a relatively flat trend pattern. Spectacle frame consumption peaked at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Spectacle Frame Production in Vietnam

In value terms, spectacle frame production dropped modestly to $X in 2022 estimated in export price. Over the period under review, the total production indicated slight growth from 2012 to 2022: its value 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, production increased by X% against 2020 indices. The growth pace was the most rapid in 2015 with an increase of X% against the previous year. Spectacle frame production peaked at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Spectacle Frame Exports

Exports from Vietnam

In 2022, exports of frames and mountings for spectacles, goggles or the like from Vietnam shrank sharply to X units, dropping by X% compared with the previous year's figure. Overall, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of X%. As a result, the exports attained the peak of X units. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, spectacle frame exports reduced markedly to $X in 2022. Over the period under review, exports, however, posted prominent growth. The pace of growth was the most pronounced in 2016 when exports increased by X%. The exports peaked at $X in 2021, and then declined sharply in the following year.

Exports by Country

The United Arab Emirates (X units) was the main destination for spectacle frame exports from Vietnam, accounting for a X% share of total exports. Moreover, spectacle frame exports to the United Arab Emirates exceeded the volume sent to the second major destination, Belgium (X units), more than tenfold. The third position in this ranking was held by the United States (X units), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United Arab Emirates stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (X% per year) and the United States (X% per year).

In value terms, the United Arab Emirates ($X) emerged as the key foreign market for frames and mountings for spectacles, goggles or the like exports from Vietnam, comprising X% of total exports. The second position in the ranking was held by Belgium ($X), with a X% share of total exports. It was followed by the United States, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United Arab Emirates totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (X% per year) and the United States (X% per year).

Export Prices by Country

In 2022, the average spectacle frame export price amounted to $X per unit, increasing by X% against the previous year. Overall, export price indicated a perceptible 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 export price decreased by X% against 2018 indices. The most prominent rate of growth was recorded in 2015 when the average export price increased by X% against the previous year. The export price peaked at $X per unit in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

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

Spectacle Frame Imports

Imports into Vietnam

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 2019, thus ending a two-year declining trend. In general, imports posted strong growth. The pace of growth was the most pronounced in 2016 when imports increased by X%. Over the period under review, imports hit record highs at X units in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, spectacle frame imports rose notably to $X in 2022. Over the period under review, imports saw resilient growth. The growth pace was the most rapid in 2018 when imports increased by X%. Imports peaked at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

China (X units), South Korea (X units) and Japan (X units) were the main suppliers of spectacle frame imports to Vietnam, together accounting for X% of total imports.

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

In value terms, China ($X), South Korea ($X) and Japan ($X) constituted the largest spectacle frame suppliers to Vietnam, with a combined X% share of total imports.

Among the main suppliers, China, with a CAGR of X%, 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

In 2022, the average spectacle frame import price amounted to $X per unit, standing approx. at the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2014 an increase of X% against the previous year. The import price peaked at $X per unit in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

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

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

Source: IndexBox Platform

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