PRODUCT CLASSIFICATION
Eyewear is an accessory worn on the face known for its dual role in both health, such as prescription glasses, contact lenses and safety goggles, and fashion, like the ones with a webcam included or sunglasses.
It takes a fundamental space in both medical and lifestyle sectors, because not only it can improve the sight of everyone who can’t see properly on their own, but it also has a wide variety of designs, materials, sizes and colors that can match all kinds of personal styles.
Eyewear is a part of the Optical photo & film equipment; musical instruments, a category of the Instruments section that includes a wide variety of related by-products like Sunglasses, and Spectacles, goggles except sunglasses.
It also has a Product Complexity Index of 0.93, ranking 197th out of 1044 products in 2023.
This post will not consider a specific country’s market, but it will be focused on the Eyewear trade in general.
OVERVIEW
In 2023, global trade of Eyewear reached an amount of $12.4B, reflecting an increased percentage of 5.47 from 2022, when it totaled $11.8B and, over the past five years, it has grown at an annualized rate of 3.68%.
In addition, during the same year, Eyewear ranked 307 out of 1217 products, accounting for 0.055% of world trade.
EXPORT
In 2023 it was estimated that the main characters in the exportation scenario of Eyewear were
- China - $4.95B;
- Italy - $3.68B;
- Chinese Taipei - $542M.
Also, during the same year, the countries that registered the highest share of this category in their export portfolios were
- Montserrat - 0.94%;
- Saint Pierre and Miquelon - 0.59%;
- Italy - 0.58%.
IMPORT
In 2023 it was revealed that the leading importers of the Eyewear category in global trade were
- United States - $2.81B;
- Hong Kong - $1.01B;
- Italy - $732M.
CONCLUSIONS
In 2023 the Eyewear trade experienced an upward trend, supported by the growing awareness of eye health that caused a rising demand for vision correction, specifically with blue light protection due to the more frequent exposure to every kind of screen.
The market is, as a consequence, evolving alongside digital lifestyles and wellness trends, with smart features and sustainable materials that are still gaining traction.
Source: https://oec.world/en
