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World - Personal Spectacle Optics - Market Analysis, Forecast, Size, Trends And Insights
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The article analyzes the global personal spectacle optics market, forecasting an increase in consumption with a CAGR of +0.6% from 2022 to 2030. The market volume is expected to reach 7.7B units by 2030 with a value of $360B. The article also provides insights into consumption patterns, production, exports, and imports of personal spectacle optics across different countries and product types. China emerges as a major player in production and exports, while the United States leads in imports. Spectacles and goggles are the most widely consumed and produced type of personal spectacle optics, followed by sunglasses. The average import and export prices have shown growth over the years, with sunglasses commanding a higher price compared to spectacles and goggles.
Market Forecast
Driven by rising demand for personal spectacle optics worldwide, the market is expected to start an upward consumption trend over the next eight-year period. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +0.6% for the period from 2022 to 2030, which is projected to bring the market volume to 7.7B units by the end of 2030.
In value terms, the market is forecast to increase with an anticipated CAGR of +2.2% for the period from 2022 to 2030, which is projected to bring the market value to $360B (in nominal prices) by the end of 2030.
Consumption
World Consumption of Personal Spectacle Optics
In 2022, global consumption of personal spectacle optics totaled 7.3B units, remaining stable against the previous year. Over the period under review, consumption, however, recorded a pronounced descent. Over the period under review, global consumption reached the maximum volume at 9.6B units in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.
The global personal spectacle optics market value declined slightly to $302.3B in 2022, reducing by -3.8% 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, recorded a perceptible reduction. Global consumption peaked at $494.1B in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.
Consumption By Country
The countries with the highest volumes of consumption in 2022 were the United States (1.9B units), China (1.8B units) and India (770M units), with a combined 60% share of global consumption.
From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +1.3%), while consumption for the other global leaders experienced a decline in the consumption figures.
In value terms, Democratic Republic of the Congo ($242.2B) led the market, alone. The second position in the ranking was held by the United States ($16B). It was followed by China.
From 2012 to 2022, the average annual growth rate of value in Democratic Republic of the Congo amounted to -5.2%. In the other countries, the average annual rates were as follows: the United States (+2.3% per year) and China (+0.2% per year).
The countries with the highest levels of personal spectacle optics per capita consumption in 2022 were the United States (5.5 units per person), Canada (3.1 units per person) and the UK (2.8 units per person).
From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by the United States (with a CAGR of +0.7%), while consumption for the other global leaders experienced a decline in the per capita consumption figures.
Consumption By Type
Spectacles and goggles (5.2B units) constituted the product with the largest volume of consumption, accounting for 70% of total volume. Moreover, spectacles and goggles exceeded the figures recorded for the second-largest type, sunglasses (2.2B units), twofold.
For spectacles and goggles, consumption shrank by an average annual rate of -4.2% over the period from 2012-2022.
In value terms, spectacles and goggles ($267.8B) led the market, alone. The second position in the ranking was taken by sunglasses ($27.6B).
From 2012 to 2022, the average annual growth rate of the value of spectacles and goggles market totaled -5.1%.
Production
World Production of Personal Spectacle Optics
In 2022, the amount of personal spectacle optics produced worldwide dropped to 6.2B units, approximately mirroring the previous year. Over the period under review, production continues to indicate a deep reduction. The pace of growth appeared the most rapid in 2015 with an increase of 15% against the previous year. Global production peaked at 11B units in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.
In value terms, personal spectacle optics production declined modestly to $286.1B in 2022 estimated in export price. Overall, production saw a abrupt slump. The most prominent rate of growth was recorded in 2016 with an increase of 20% against the previous year. Global production peaked at $492.7B in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.
Production By Country
The country with the largest volume of personal spectacle optics production was China (2.3B units), comprising approx. 38% of total volume. Moreover, personal spectacle optics production in China exceeded the figures recorded by the second-largest producer, the United States (1.2B units), twofold. The third position in this ranking was taken by India (608M units), with a 9.7% share.
In China, personal spectacle optics production declined by an average annual rate of -5.5% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United States (+2.5% per year) and India (-2.5% per year).
Production By Type
Spectacles and goggles (4.9B units) constituted the product with the largest volume of production, accounting for 78% of total volume. Moreover, spectacles and goggles exceeded the figures recorded for the second-largest type, sunglasses (1.4B units), threefold.
For spectacles and goggles, production decreased by an average annual rate of -5.6% over the period from 2012-2022.
In value terms, spectacles and goggles ($267.8B) led the market, alone. The second position in the ranking was taken by sunglasses ($18.3B).
From 2012 to 2022, the average annual rate of growth in terms of the value of spectacles and goggles production amounted to -5.2%.
Imports
World Imports of Personal Spectacle Optics
In 2022, global imports of personal spectacle optics totaled 2.5B units, picking up by 6.4% against the previous year's figure. The total import volume increased at an average annual rate of +1.6% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 20% against the previous year. As a result, imports attained the peak of 2.5B units; afterwards, it flattened through to 2022.
In value terms, personal spectacle optics imports expanded significantly to $11.8B in 2022. The total import value increased at an average annual rate of +3.8% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2016 when imports increased by 11% against the previous year. Global imports peaked in 2022 and are likely to see gradual growth in the immediate term.
Imports By Country
In 2022, the United States (774M units) represented the main importer of personal spectacle optics, achieving 31% of total imports. It was distantly followed by India (166M units), the UK (125M units) and Mexico (116M units), together generating a 17% share of total imports. Canada (82M units), Germany (82M units), Hong Kong SAR (69M units), Australia (65M units), Japan (58M units), France (55M units), Italy (53M units), Spain (48M units) and Russia (48M units) took a little share of total imports.
The United States experienced a relatively flat trend pattern with regard to volume of imports of personal spectacle optics. At the same time, Germany (+23.8%), India (+7.9%), France (+7.6%), Italy (+7.4%), Spain (+5.0%), Canada (+5.0%), Mexico (+2.4%), Australia (+2.0%) and the UK (+1.7%) displayed positive paces of growth. Moreover, Germany emerged as the fastest-growing importer imported in the world, with a CAGR of +23.8% from 2012-2022. Japan experienced a relatively flat trend pattern. By contrast, Hong Kong SAR (-2.7%) and Russia (-5.8%) illustrated a downward trend over the same period. While the share of India (+3.1 p.p.) and Germany (+2.9 p.p.) increased significantly in terms of the global imports from 2012-2022, the share of Hong Kong SAR (-1.5 p.p.), Russia (-2.2 p.p.) and the United States (-6.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, the United States ($2.9B) constitutes the largest market for imported personal spectacle optics worldwide, comprising 25% of global imports. The second position in the ranking was held by Hong Kong SAR ($962M), with an 8.2% share of global imports. It was followed by Italy, with a 5.8% share.
From 2012 to 2022, the average annual rate of growth in terms of value in the United States stood at +4.8%. In the other countries, the average annual rates were as follows: Hong Kong SAR (+9.4% per year) and Italy (+6.7% per year).
Imports By Type
In 2022, sunglasses (1.3B units), followed by spectacles and goggles (1.2B units) were the main types of personal spectacle optics, together generating 100% of total imports.
From 2012 to 2022, the biggest increases were recorded for sunglasses (with a CAGR of +2.2%).
In value terms, sunglasses ($8.2B) constitutes the largest type of personal spectacle optics imported worldwide, comprising 70% of global imports. The second position in the ranking was taken by spectacles and goggles ($3.5B), with a 30% share of global imports.
For sunglasses, imports increased at an average annual rate of +4.2% over the period from 2012-2022.
Import Prices By Type
In 2022, the average personal spectacle optics import price amounted to $4.8 per unit, picking up by 3.4% against the previous year. Over the last decade, it increased at an average annual rate of +2.2%. The most prominent rate of growth was recorded in 2021 an increase of 18%. Over the period under review, average import prices attained the maximum at $5.2 per unit in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.
Prices varied noticeably by the product type; the product with the highest price was sunglasses ($6.6 per unit), while the price for spectacles and goggles amounted to $2.9 per unit.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by spectacles and goggles (+2.0%).
Import Prices By Country
In 2022, the average personal spectacle optics import price amounted to $4.8 per unit, increasing by 3.4% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.2%. The growth pace was the most rapid in 2021 an increase of 18%. Over the period under review, average import prices reached the maximum at $5.2 per unit in 2019; however, from 2020 to 2022, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Hong Kong SAR ($14 per unit), while India ($0.6 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 (+12.5%), while the other global leaders experienced more modest paces of growth.
Exports
World Exports of Personal Spectacle Optics
In 2022, shipments abroad of personal spectacle optics was finally on the rise to reach 1.4B units after four years of decline. Overall, exports, however, saw a abrupt decline. The most prominent rate of growth was recorded in 2014 when exports increased by 5.1% against the previous year. Over the period under review, the global exports hit record highs at 3.3B units in 2017; however, from 2018 to 2022, the exports remained at a lower figure.
In value terms, personal spectacle optics exports rose notably to $12.4B in 2022. The total export value increased at an average annual rate of +4.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of 22% against the previous year. Over the period under review, the global exports hit record highs in 2022 and are likely to see steady growth in the immediate term.
Exports By Country
China was the major exporter of personal spectacle optics in the world, with the volume of exports amounting to 578M units, which was approx. 42% of total exports in 2022. Taiwan (Chinese) (265M units) held a 19% share (based on physical terms) of total exports, which put it in second place, followed by Italy (5.6%) and the United States (5.1%). Hong Kong SAR (58M units), Mexico (51M units), Germany (39M units), the Netherlands (27M units) and Belgium (21M units) followed a long way behind the leaders.
From 2012 to 2022, average annual rates of growth with regard to personal spectacle optics exports from China stood at -11.5%. At the same time, Mexico (+17.3%) and Belgium (+2.1%) displayed positive paces of growth. Moreover, Mexico emerged as the fastest-growing exporter exported in the world, with a CAGR of +17.3% from 2012-2022. The United States experienced a relatively flat trend pattern. By contrast, Taiwan (Chinese) (-1.3%), Italy (-3.8%), the Netherlands (-4.3%), Hong Kong SAR (-5.8%) and Germany (-8.0%) illustrated a downward trend over the same period. While the share of Taiwan (Chinese) (+9 p.p.), Mexico (+3.3 p.p.), the United States (+2.7 p.p.) and Italy (+1.8 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of China (-23.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, China ($4B), Italy ($3.5B) and Hong Kong SAR ($889M) appeared to be the countries with the highest levels of exports in 2022, with a combined 67% share of global exports. The United States, Germany, Taiwan (Chinese), the Netherlands, Mexico and Belgium lagged somewhat behind, together accounting for a further 16%.
Belgium, with a CAGR of +7.8%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.
Exports By Type
Spectacles and goggles represented the largest type of personal spectacle optics in the world, with the volume of exports reaching 930M units, which was approx. 67% of total exports in 2022. It was distantly followed by sunglasses (457M units), comprising a 33% share of total exports.
Spectacles and goggles was also the fastest-growing in terms of exports, with a CAGR of -6.4% from 2012 to 2022. sunglasses (-9.2%) illustrated a downward trend over the same period. Spectacles and goggles (+7.1 p.p.) significantly strengthened its position in terms of the global exports, while sunglasses saw its share reduced by -7.1% from 2012 to 2022, respectively.
In value terms, sunglasses ($8.5B) remains the largest type of personal spectacle optics supplied worldwide, comprising 68% of global exports. The second position in the ranking was held by spectacles and goggles ($3.9B), with a 32% share of global exports.
For sunglasses, exports expanded at an average annual rate of +4.8% over the period from 2012-2022.
Export Prices By Type
The average personal spectacle optics export price stood at $8.9 per unit in 2022, growing by 7.5% against the previous year. Overall, the export price enjoyed a strong expansion. The pace of growth was the most pronounced in 2018 an increase of 79% against the previous year. Over the period under review, the average export prices attained the peak figure in 2022 and is likely to see steady growth in years to come.
Prices varied noticeably by the product type; the product with the highest price was sunglasses ($19 per unit), while the average price for exports of spectacles and goggles totaled $4.2 per unit.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by sunglasses (+15.5%).
Export Prices By Country
In 2022, the average personal spectacle optics export price amounted to $8.9 per unit, growing by 7.5% against the previous year. In general, the export price recorded buoyant growth. The most prominent rate of growth was recorded in 2018 an increase of 79% against the previous year. The global export price peaked in 2022 and is likely to continue growth in the immediate term.
Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Italy ($45 per unit), while Taiwan (Chinese) ($1.6 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+20.5%), while the other global leaders experienced more modest paces of growth.
This report provides an in-depth analysis of the global personal spectacle optics market. 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 32504250 - Sunglasses
- Prodcom 32504290 - Spectacles, goggles and the like, corrective, protective or other (excluding sunglasses)
Country coverage:
Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:
- USA
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
+ the largest producing countries
Data coverage:
- Global market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Global production, split by region and country
- Global trade (exports and imports)
- 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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- CONSUMPTION BY COUNTRY
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. GLOBAL PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
- PRODUCTION BY COUNTRY
8. GLOBAL IMPORTS
The Largest Importers on The Market and How They Succeed
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. GLOBAL EXPORTS
The Largest Exporters on The Market and How They Succeed
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
11. COUNTRY PROFILES
The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO- United States
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
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LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption, By Country, 2018–2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Destination, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Origin, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Consumption, By Country, 2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Production, By Country, 2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, 2012–2023
This report provides an in-depth analysis of the global personal spectacle optics market.
This report provides an in-depth analysis of the global sunglasses market.
This report provides an in-depth analysis of the global spectacles and goggles market.
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