Report Update: Apr 3, 2024

Republic of Korea - Personal Spectacle Optics - Market Analysis, Forecast, Size, Trends And Insights

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Personal Spectacle Optics Price in South Korea - 2022

Personal Spectacle Optics Price in South Korea (CIF) - 2022

The average personal spectacle optics import price stood at $11 per unit in 2022, approximately mirroring the previous year. Overall, the import price showed a remarkable increase. The most prominent rate of growth was recorded in 2014 an increase of 114% against the previous year. Over the period under review, average import prices attained the peak figure at $16 per unit in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Italy ($12 per unit) and the United States ($11 per unit), while the price for Malaysia ($8.8 per unit) and Indonesia ($8.9 per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+14.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Personal Spectacle Optics Price in South Korea (FOB) - 2022

The average personal spectacle optics export price stood at $34 per unit in 2022, rising by 5.4% against the previous year. Over the period under review, the export price continues to indicate significant growth. The most prominent rate of growth was recorded in 2017 an increase of 125% against the previous year. Over the period under review, the average export prices reached the peak figure in 2022 and is likely to continue growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Singapore ($45 per unit), while the average price for exports to France ($25 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+38.4%), while the prices for the other major destinations experienced more modest paces of growth.

Personal Spectacle Optics Imports in South Korea

In 2022, overseas purchases of personal spectacle optics were finally on the rise to reach 13M units for the first time since 2019, thus ending a two-year declining trend. In general, imports, however, faced a abrupt descent. Imports peaked at 18M units in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, personal spectacle optics imports reached $142M in 2022. Overall, imports, however, faced a abrupt downturn. Over the period under review, imports hit record highs at $207M in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Import of Personal Spectacle Optics in South Korea (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	89.2	66.8	62.1	66.3	-9.4%
Italy	66.3	45.3	44.4	39.4	-15.9%
United States	11.5	9.7	15.4	14.1	7.0%
Japan	15.0	10.3	7.9	11.4	-8.7%
Taiwan (Chinese)	7.8	4.5	4.3	4.9	-14.4%
Vietnam	8.6	0.8	1.3	1.1	-49.6%
Others	8.8	7.9	5.8	5.3	-15.6%
Total	207	145	141	142	-11.8%

Top Suppliers of Personal Spectacle Optics to South Korea in 2022:

China (6.2M units)
Italy (3.3M units)
United States (1.3M units)
Japan (1.1M units)
Taiwan (Chinese) (0.5M units)
Vietnam (0.1M units)

Personal Spectacle Optics Exports in South Korea

In 2022, after three years of growth, there was significant decline in shipments abroad of personal spectacle optics, when their volume decreased by -12.8% to 2.3M units. Overall, exports, however, showed a significant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 61% against the previous year. As a result, the exports attained the peak of 2.6M units, and then fell in the following year.

In value terms, personal spectacle optics exports reduced to $79M in 2022. Over the period under review, exports, however, posted a significant expansion. The pace of growth appeared the most rapid in 2021 with an increase of 109% against the previous year. As a result, the exports reached the peak of $86M, and then contracted in the following year.

Export of Personal Spectacle Optics in South Korea (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	8.6	17.9	49.9	36.2	61.5%
United States	5.0	6.1	11.1	14.3	41.9%
Hong Kong SAR	5.1	2.4	7.2	4.4	-4.8%
Singapore	2.4	1.7	1.5	3.0	7.7%
France	1.7	0.8	2.7	2.8	18.1%
Australia	0.6	1.1	1.4	2.5	60.9%
Japan	2.3	3.2	1.9	2.1	-3.0%
United Kingdom	1.7	0.9	1.3	2.0	5.6%
Taiwan (Chinese)	1.9	1.5	1.3	1.7	-3.6%
United Arab Emirates	0.3	0.1	0.2	1.7	78.3%
Italy	0.9	0.6	1.5	1.6	21.1%
Canada	1.3	0.9	1.3	1.1	-5.4%
Others	4.4	3.8	4.4	5.3	6.4%
Total	36.1	41.0	85.6	78.7	29.7%

Top Export Markets for Personal Spectacle Optics from South Korea in 2022:

China (954.3K units)
United States (475.7K units)
Hong Kong SAR (167.2K units)
France (111.9K units)
Japan (74.5K units)
Singapore (66.5K units)
Australia (59.2K units)
United Kingdom (45.3K units)
Taiwan (Chinese) (41.7K units)
United Arab Emirates (40.2K units)
Italy (39.6K units)
Canada (34.9K units)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the personal spectacle optics market in Republic of Korea. 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:

South Korea

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Republic of Korea
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.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
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
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023