Spectacle Non-Plastic Frame Market

The global market for non-plastic frames and mountings for spectacles and goggles is projected to see steady growth from 2022 to 2030, with an anticipated increase in consumption and market value. China, India, and the United States are leading in consumption, with the Philippines showing notable growth. Production and imports are also on the rise, with Hong Kong SAR and China as top exporters. Prices and trends in the market are fluctuating, but overall, the industry is expected to continue expanding in the coming years.

Market Forecast

Driven by increasing demand for non-plastic frames and mountings for spectacles and goggles worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +0.2% for the period from 2022 to 2030, which is projected to bring the market volume to 514M units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +2.4% for the period from 2022 to 2030, which is projected to bring the market value to $10.1B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Non-Plastic Frames And Mountings For Spectacles And Goggles

Global spectacle non-plastic frame consumption rose to 505M units in 2022, increasing by 4.6% on the year before. Overall, consumption recorded a relatively flat trend pattern. Global consumption peaked in 2022 and is expected to retain growth in years to come.

The global spectacle non-plastic frame market value contracted modestly to $8.3B in 2022, falling by -1.5% 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). Over the period under review, consumption saw a relatively flat trend pattern. Global consumption peaked at $8.5B in 2021, and then declined in the following year.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (110M units), India (60M units) and the United States (52M units), together comprising 44% of global consumption. Japan, Italy, the Philippines, Indonesia, Nigeria, Bangladesh, France, South Korea, Mexico and Thailand lagged somewhat behind, together comprising a further 31%.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by the Philippines (with a CAGR of +16.3%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, China ($1.9B), Japan ($1.3B) and Indonesia ($722M) were the countries with the highest levels of market value in 2022, with a combined 47% share of the global market. The United States, Italy, South Korea, France, Nigeria, Bangladesh, Mexico, the Philippines, Thailand and India lagged somewhat behind, together comprising a further 23%.

Among the main consuming countries, the Philippines, with a CAGR of +16.1%, saw the highest rates of growth with regard to market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of spectacle non-plastic frame per capita consumption in 2022 were Italy (361 units per 1000 persons), Japan (220 units per 1000 persons) and South Korea (201 units per 1000 persons).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by the Philippines (with a CAGR of +14.7%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Non-Plastic Frames And Mountings For Spectacles And Goggles

In 2022, the amount of non-plastic frames and mountings for spectacles and goggles produced worldwide totaled 336M units, remaining constant against 2021 figures. Overall, production, however, recorded a noticeable setback. The most prominent rate of growth was recorded in 2019 with an increase of 22%. Over the period under review, global production attained the maximum volume at 484M units in 2012; however, from 2013 to 2022, production failed to regain momentum.

In value terms, spectacle non-plastic frame production amounted to $8.2B in 2022 estimated in export price. In general, production, however, saw a slight shrinkage. The most prominent rate of growth was recorded in 2019 with an increase of 32%. Over the period under review, global production reached the peak level at $9.7B in 2012; however, from 2013 to 2022, production failed to regain momentum.

Production By Country

China (136M units) remains the largest spectacle non-plastic frame producing country worldwide, comprising approx. 41% of total volume. Moreover, spectacle non-plastic frame production in China exceeded the figures recorded by the second-largest producer, Japan (21M units), sevenfold. The third position in this ranking was taken by the United States (19M units), with a 5.7% share.

In China, spectacle non-plastic frame production shrank by an average annual rate of -5.4% over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: Japan (+1.7% per year) and the United States (-4.9% per year).

Imports

World Imports of Non-Plastic Frames And Mountings For Spectacles And Goggles

In 2022, approx. 291M units of non-plastic frames and mountings for spectacles and goggles were imported worldwide; with an increase of 6.2% against 2021. The total import volume increased at an average annual rate of +1.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 33%. Global imports peaked in 2022 and are likely to see gradual growth in years to come.

In value terms, spectacle non-plastic frame imports fell to $3.1B in 2022. Over the period under review, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 26% against the previous year. As a result, imports reached the peak of $3.1B, and then dropped in the following year.

Imports By Country

India (61M units), the United States (41M units), Hong Kong SAR (29M units) and Italy (23M units) represented roughly 53% of total imports in 2022. It was distantly followed by the Philippines (15M units), committing a 5.3% share of total imports. The following importers - France (13M units), Germany (12M units), Mexico (10M units), Japan (9.4M units), the Netherlands (6.6M units), Thailand (6.1M units), Spain (4.7M units) and the UK (4.4M units) - together made up 23% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by the Philippines (with a CAGR of +64.4%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the largest spectacle non-plastic frame importing markets worldwide were the United States ($487M), Hong Kong SAR ($317M) and Italy ($309M), with a combined 36% share of global imports. France, Germany, Japan, the Netherlands, India, the UK, Spain, Mexico, Thailand and the Philippines lagged somewhat behind, together accounting for a further 29%.

In terms of the main importing countries, the Philippines, with a CAGR of +57.3%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average spectacle non-plastic frame import price stood at $11 per unit in 2022, waning by -7.1% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the average import price increased by 14% against the previous year. As a result, import price reached the peak level of $13 per unit. From 2015 to 2022, the average import prices remained at a somewhat lower figure.

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 France ($16 per unit), while India ($1.2 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 (+7.3%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Non-Plastic Frames And Mountings For Spectacles And Goggles

Global spectacle non-plastic frame exports shrank to 122M units in 2022, falling by -1.8% compared with the year before. In general, exports recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2021 when exports increased by 25% against the previous year. The global exports peaked at 267M units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, spectacle non-plastic frame exports fell modestly to $2.9B in 2022. Overall, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 33% against the previous year. As a result, the exports reached the peak of $2.9B, leveling off in the following year.

Exports By Country

Hong Kong SAR (35M units) and China (27M units) represented the largest exporters of non-plastic frames and mountings for spectacles and goggles in 2022, accounting for approx. 28% and 22% of total exports, respectively. Italy (16M units) ranks next in terms of the total exports with a 13% share, followed by the United States (6.8%). The following exporters - Germany (4M units), the Netherlands (3.9M units), South Korea (3.3M units), France (3.3M units), Japan (2.5M units), the Czech Republic (2.2M units) and Bangladesh (2M units) - together made up 17% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Bangladesh (with a CAGR of +38.8%), while the other global leaders experienced more modest paces of growth.

In value terms, the largest spectacle non-plastic frame supplying countries worldwide were China ($842M), Italy ($550M) and Hong Kong SAR ($449M), with a combined 64% share of global exports. Germany, Japan, the United States, France, the Netherlands, the Czech Republic, South Korea and Bangladesh lagged somewhat behind, together comprising a further 21%.

In terms of the main exporting countries, Bangladesh, with a CAGR of +39.5%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

The average spectacle non-plastic frame export price stood at $24 per unit in 2022, remaining constant against the previous year. In general, the export price recorded a strong expansion. The most prominent rate of growth was recorded in 2018 when the average export price increased by 65%. The global export price peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Japan ($46 per unit), while Bangladesh ($10 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+23.9%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform