Vietnam: Spectacles And Goggles Market 2024

Spectacles And Goggles Market Size in Vietnam

In 2021, the Vietnamese spectacles and goggles market increased by 7% to $X, rising for the second consecutive year after three years of decline. In general, consumption saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2017 to 2021, the growth of the market remained at a lower figure.

Spectacles And Goggles Production in Vietnam

In value terms, spectacles and goggles production expanded modestly to $X in 2021 estimated in export price. Over the period under review, production, however, enjoyed a perceptible expansion. The most prominent rate of growth was recorded in 2016 with an increase of 359%. Over the period under review, production attained the maximum level at $X in 2017; however, from 2018 to 2021, production failed to regain momentum.

Spectacles And Goggles Exports

Exports from Vietnam

In 2021, exports of spectacles and goggles from Vietnam contracted to X units, declining by -14.7% on 2020 figures. In general, exports, however, enjoyed a significant expansion. The pace of growth was the most pronounced in 2013 when exports increased by 443% against the previous year. The exports peaked at X units in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, spectacles and goggles exports surged to $X in 2021. Overall, exports, however, posted a significant expansion. The pace of growth appeared the most rapid in 2013 with an increase of 629% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

Japan (X units), the United States (X units) and South Korea (X units) were the main destinations of spectacles and goggles exports from Vietnam, with a combined 70% share of total exports. These countries were followed by France, Belgium, Canada, Taiwan (Chinese) and Saudi Arabia, which together accounted for a further 11%.

From 2012 to 2021, the biggest increases were recorded for France (with a CAGR of +243.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) emerged as the key foreign market for spectacles and goggles exports from Vietnam, comprising 43% of total exports. The second position in the ranking was held by Japan ($X), with a 12% share of total exports. It was followed by South Korea, with an 8% share.

From 2012 to 2021, the average annual growth rate of value to the United States amounted to +60.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+71.9% per year) and South Korea (+92.5% per year).

Export Prices by Country

In 2021, the average spectacles and goggles export price amounted to $X per unit, with an increase of 65% against the previous year. In general, the export price showed a prominent expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+10.6%), while the prices for the other major destinations experienced more modest paces of growth.

Spectacles And Goggles Imports

Imports into Vietnam

In 2021, spectacles and goggles imports into Vietnam soared to X units, jumping by 32% against the previous year's figure. In general, imports recorded a prominent expansion. The growth pace was the most rapid in 2015 with an increase of 194% against the previous year. As a result, imports attained the peak of X units. From 2016 to 2021, the growth of imports failed to regain momentum.

In value terms, spectacles and goggles imports soared to $X in 2021. Over the period under review, imports continue to indicate a strong increase. The most prominent rate of growth was recorded in 2015 when imports increased by 110% against the previous year. As a result, imports reached the peak of $X. From 2016 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

China (X units), Taiwan (Chinese) (X units) and Singapore (X units) were the main suppliers of spectacles and goggles imports to Vietnam, together comprising 93% of total imports.

From 2012 to 2021, the biggest increases were recorded for Singapore (with a CAGR of +18.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of spectacles and goggles to Vietnam, comprising 53% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 15% share of total imports. It was followed by Germany, with a 9.2% share.

From 2012 to 2021, the average annual growth rate of value from China stood at +13.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+12.6% per year) and Germany (+26.7% per year).

Import Prices by Country

The average spectacles and goggles import price stood at $X per unit in 2021, dropping by -2.6% against the previous year. Overall, the import price, however, posted a tangible increase. The most prominent rate of growth was recorded in 2013 when the average import price increased by 71% against the previous year. As a result, import price attained the peak level of $X per unit. From 2014 to 2021, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Slovenia ($X per unit), while the price for Malaysia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+19.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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