Hungary: Spectacle Frame Market 2023

Spectacle Frame Market Size in Hungary

The Hungarian spectacle frame market reduced dramatically to $X in 2021, shrinking by -15.5% against the previous year. Over the period under review, consumption, however, saw a strong expansion. As a result, consumption attained the peak level of $X. From 2016 to 2021, the growth of the market failed to regain momentum.

Spectacle Frame Production in Hungary

In value terms, spectacle frame production reduced dramatically to $X in 2021 estimated in export price. Over the period under review, production saw a perceptible decrease. Over the period under review, production reached the peak level at $X in 2020, and then shrank significantly in the following year.

Spectacle Frame Exports

Exports from Hungary

In 2021, exports of frames and mountings for spectacles, goggles or the like from Hungary surged to X units, jumping by 46% against the year before. In general, exports showed a significant expansion. The pace of growth appeared the most rapid in 2016 with an increase of 168%. The exports peaked at X units in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, spectacle frame exports soared to $X in 2021. Over the period under review, exports saw a buoyant expansion. The pace of growth appeared the most rapid in 2017 when exports increased by 136% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

The Netherlands (X units) was the main destination for spectacle frame exports from Hungary, with a 41% share of total exports. Moreover, spectacle frame exports to the Netherlands exceeded the volume sent to the second major destination, the Czech Republic (X units), threefold. The third position in this ranking was held by Slovakia (X units), with a 9.4% share.

From 2012 to 2021, the average annual growth rate of volume to the Netherlands stood at +218.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Czech Republic (+11.4% per year) and Slovakia (+12.5% per year).

In value terms, the Czech Republic ($X), the Netherlands ($X) and Sweden ($X) constituted the largest markets for spectacle frame exported from Hungary worldwide, together accounting for 55% of total exports.

Sweden, with a CAGR of +662.3%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average spectacle frame export price stood at $X per unit in 2021, falling by -17.2% against the previous year. Over the period under review, the export price continues to indicate a abrupt descent. The pace of growth was the most pronounced in 2018 an increase of 22% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per unit in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Hong Kong SAR ($X per unit), while the average price for exports to Germany ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+1.8%), while the prices for the other major destinations experienced more modest paces of growth.

Spectacle Frame Imports

Imports into Hungary

In 2021, purchases abroad of frames and mountings for spectacles, goggles or the like increased by 22% to X units for the first time since 2018, thus ending a two-year declining trend. Overall, imports saw a buoyant expansion. The most prominent rate of growth was recorded in 2015 with an increase of 109% against the previous year. Imports peaked at X units in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, spectacle frame imports surged to $X in 2021. Over the period under review, imports saw a prominent expansion. The pace of growth was the most pronounced in 2015 when imports increased by 119%. Over the period under review, imports reached the maximum at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X units) constituted the largest supplier of spectacle frame to Hungary, accounting for a 50% share of total imports. Moreover, spectacle frame imports from China exceeded the figures recorded by the second-largest supplier, the Netherlands (X units), fourfold. Italy (X units) ranked third in terms of total imports with an 11% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +7.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+208.4% per year) and Italy (+16.9% per year).

In value terms, China ($X) constituted the largest supplier of frames and mountings for spectacles, goggles or the like to Hungary, comprising 66% of total imports. The second position in the ranking was held by Italy ($X), with a 15% share of total imports. It was followed by Bangladesh, with an 8.3% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to +15.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+13.4% per year) and Bangladesh (+37.6% per year).

Import Prices by Country

The average spectacle frame import price stood at $X per unit in 2021, surging by 6.4% against the previous year. In general, import price indicated a temperate expansion from 2012 to 2021: its price increased at an average annual rate of +3.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, spectacle frame import price increased by +71.2% against 2016 indices. The pace of growth appeared the most rapid in 2020 an increase of 30% against the previous year. The import price peaked in 2021 and is likely to see steady growth in years to come.

Prices varied noticeably country of origin: the country with the highest price was the UK ($X per unit), while the price for Bulgaria ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bangladesh (+18.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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