Italian Eyewear Industry Analysis 2023

 Italy is the second biggest market for eyewear exports after China. Italy is known for producing high quality eyewear products. According to Italy import export data, around 2.8% increase in the eyewear exports from Italy has been recorded as compared to fiscal year 2022. Italy has exported a record 110 million pairs of eyewears. These were mostly sunglasses and optical frames.

Italy export statistics shows that around 67 million of them were sunglasses and the rest of them were optical frames. Italy eyewear exports during fiscal year 2023 were estimated to be $3.6 billion. During the first half of 2023, Italian eyewear exports saw rapid growth whereas in the second half, the exports contracted. Italy's eyewear production was estimated to be 5.5 billion euros with 8% increase as compared to 2022. 

As per Italy export data suggest an upward growth in the sunglasses with 6.5% increase and recorded to be 3.8 billion euros in 2023. Whereas, frames exports rose to 9% with worth over 1.5 billion euros in 2023. Among the major markets for Italy's eyewear exports were predominantly Ruope and America. 

Italy customs data shows that over 50% of eyewear exports were made to Europe with an increase of 12%. There was an increase of 13% in the sunglasses exports followed by a 10% rise in frames as compared to FY 2022. Among European countries, France, Germany, Spain and the United Kingdom were the major markets for Italian eyewear exports. France eyewear imports from Italy were 5% up in which 12% growth for frames and 9% increase in the sunglasses imports from Italy.  

Whereas, there was 13% rise in Italy's eyewear exports to Germany where bothe sunglasses and frames exports up by 13% and 12% respectively. On the other hand, Italian eyewear imports by Spain and the United Kingdom increased by 15% and 5% respectively. Also, the positive export growth in Italy's eyewear exports to Sweden (8%), Poland (12%), Austria (15%) and Croatia (6%) was recorded during last year.

On the other hand, the United States accounted for the 28% share in the Italian eyewear exports in 2023. Although, in comparison to 2022, the frames and sunglasses demand fell by 5%. Other major markets for Italy's eyewear exports were Brazil, India, China and Russia. Across India and Russia, Italy's eyewear exports saw 18% & 9% growth respectively. Whereas, across Brazil and China, the exports declined by 1% and 14% in 2023. 

Luxottica Group, Kering Eyewear and Marcolin were the top eyewear export companies from Italy with maximum number of shipments in 2023. Opticas GMO from Chile, Luxottika from Russia and Dogan Optik from Turkey were the top eyewear importing companies from Italy during last year.

On the other hand, according to Italy import data suggest over $764 million during fiscal year 2023. China was the biggest supplier of eyewear items to Italy having over 45% share in Italy's eyewear imports. Along with China, the United States (13%), Japan (12%), France (8.5%) and Germany (3.8%) were other major eyewear exporters to Italy in 2023. Safilo, Luxottica, De Rigo Vision and Spocom were the top eyewear importing companies from Italy last year.

As Italy's eyewear industry is booming across the global market, companies can capitalize on the potential opportunities through global import export data provider. They will offer insights over the whole eyewear industry such as top traded hs codes, product price, shipping volumes, top companies, competitors and potential buyers. These insights will help companies shape their business as per the global market demand and extract more ROI for their business.