Global Spectacles And Goggles Market 2024

Spectacles And Goggles Market Size

The global spectacles and goggles market shrank modestly to $X in 2021, waning by -4.1% against the previous year. In general, consumption saw a relatively flat trend pattern. Over the period under review, the global market reached the maximum level at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Spectacles And Goggles Production

In value terms, spectacles and goggles production amounted to $X in 2021 estimated in export price. In general, production, however, showed a perceptible downturn. The growth pace was the most rapid in 2016 with an increase of 76%. Over the period under review, global production reached the peak level at $X in 2017; however, from 2018 to 2021, production failed to regain momentum.

Spectacles And Goggles Exports

Exports

In 2021, approx. X units of spectacles and goggles were exported worldwide; dropping by -9.6% on the previous year's figure. Overall, exports faced a deep contraction. The most prominent rate of growth was recorded in 2016 with an increase of 80%. Over the period under review, the global exports hit record highs at X units in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, spectacles and goggles exports fell slightly to $X in 2021. The total export value increased at an average annual rate of +4.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 when exports increased by 12%. As a result, the exports reached the peak of $X, leveling off in the following year.

Exports by Country

In 2021, Taiwan (Chinese) (X units) was the key exporter of spectacles and goggles, achieving 42% of total exports. China (X units) held the second position in the ranking, distantly followed by the United States (X units). All these countries together took near 28% share of total exports. Mexico (X units), Hong Kong SAR (X units), the Netherlands (X units), Germany (X units), Thailand (X units) and France (X units) held a minor share of total exports.

Exports from Taiwan (Chinese) increased at an average annual rate of +1.9% from 2012 to 2021. At the same time, Thailand (+14.7%) and Mexico (+13.0%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in the world, with a CAGR of +14.7% from 2012-2021. The United States experienced a relatively flat trend pattern. By contrast, the Netherlands (-4.6%), Hong Kong SAR (-7.4%), France (-11.6%), Germany (-18.1%) and China (-19.6%) illustrated a downward trend over the same period. Taiwan (Chinese) (+29 p.p.), the United States (+4.3 p.p.), Mexico (+3.7 p.p.) and Thailand (+2 p.p.) significantly strengthened its position in terms of the global exports, while Germany and China saw its share reduced by -3.4% and -35.5% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest spectacles and goggles supplier worldwide, comprising 41% of global exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 9.9% share of global exports. It was followed by Hong Kong SAR, with a 7.3% share.

In China, spectacles and goggles exports expanded at an average annual rate of +5.8% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Taiwan (Chinese) (+5.3% per year) and Hong Kong SAR (+1.7% per year).

Export Prices by Country

In 2021, the average spectacles and goggles export price amounted to $X per unit, growing by 10% against the previous year. Over the period under review, the export price continues to indicate buoyant growth. The pace of growth was the most pronounced in 2018 an increase of 120% against the previous year. The global export price peaked in 2021 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per unit), while Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+31.6%), while the other global leaders experienced more modest paces of growth.

Spectacles And Goggles Imports

Imports

Global spectacles and goggles imports dropped notably to X units in 2021, reducing by -19.9% on the previous year. In general, imports saw a mild decline. The pace of growth appeared the most rapid in 2020 with an increase of 32%. As a result, imports attained the peak of X units, and then fell dramatically in the following year.

In value terms, spectacles and goggles imports contracted rapidly to $X in 2021. The total import value increased at an average annual rate of +3.3% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2020 when imports increased by 30%. As a result, imports attained the peak of $X, and then shrank notably in the following year.

Imports by Country

The United States represented the largest importer of spectacles and goggles in the world, with the volume of imports resulting at X units, which was approx. 36% of total imports in 2021. It was distantly followed by Canada (X units), mixing up a 5.3% share of total imports. Paraguay (X units), Australia (X units), Japan (X units), Mexico (X units), Russia (X units), Brazil (X units), Thailand (X units), Hong Kong SAR (X units), El Salvador (X units), Chile (X units) and Germany (X units) followed a long way behind the leaders.

The United States experienced a relatively flat trend pattern with regard to volume of imports of spectacles and goggles. At the same time, Paraguay (+28.5%), Canada (+9.2%), Australia (+4.7%), Chile (+4.2%), Thailand (+3.8%) and Brazil (+1.8%) displayed positive paces of growth. Moreover, Paraguay emerged as the fastest-growing importer imported in the world, with a CAGR of +28.5% from 2012-2021. Russia and Japan experienced a relatively flat trend pattern. By contrast, Mexico (-2.2%), El Salvador (-4.1%), Hong Kong SAR (-7.0%) and Germany (-9.1%) illustrated a downward trend over the same period. While the share of the United States (+6.4 p.p.), Paraguay (+4 p.p.), Canada (+3.2 p.p.) and Australia (+1.8 p.p.) increased significantly in terms of the global imports from 2012-2021, the share of Germany (-2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) constitutes the largest market for imported spectacles and goggles worldwide, comprising 28% of global imports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 7.3% share of global imports. It was followed by Australia, with a 7.1% share.

From 2012 to 2021, the average annual growth rate of value in the United States stood at +6.7%. The remaining importing countries recorded the following average annual rates of imports growth: Hong Kong SAR (+7.1% per year) and Australia (+4.6% per year).

Import Prices by Country

The average spectacles and goggles import price stood at $X per unit in 2021, almost unchanged from the previous year. Over the period under review, import price indicated noticeable growth from 2012 to 2021: its price increased at an average annual rate of +4.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, spectacles and goggles import price decreased by -0.9% against 2019 indices. The growth pace was the most rapid in 2018 when the average import price increased by 20%. Over the period under review, average import prices reached the maximum at $X per unit in 2019; afterwards, it flattened through to 2021.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Hong Kong SAR ($X per unit), while Paraguay ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+15.2%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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