Updated Nov 24, 2022 00:39

Spectacle Glass Lenses Market in Morocco

Market Overview
The Moroccan spectacle glass lenses market skyrocketed to $ in , increasing by % 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). In general, the total consumption indicated prominent growth from 2007 to : its value increased at an average annual rate of +% over the last fourteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption increased by +% against 2008 indices. Spectacle glass lenses consumption peaked in and is likely to continue growth in years to come.


Consumption
Spectacle glass lenses consumption in Morocco reached units in , picking up by % on the previous year. In general, consumption posted a buoyant expansion. Over the period under review, consumption hit record highs in and is expected to retain growth in years to come.

The revenue of the spectacle glass lenses market in Morocco expanded modestly to $ in , surging by % 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). Overall, consumption showed a remarkable increase. Spectacle glass lenses consumption peaked in and is expected to retain growth in the near future.


Market Forecast
Driven by increasing demand for spectacle glass lenses in Morocco, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to units by the end of .

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


Market Structure
Spectacle glass lenses market in Morocco consists almost entirely of imported products. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports decreased moderately (- percentage point) over the period under review.


Trade Balance
Morocco remains a net importer of spectacle glass lenses; in physical and value terms, imports consistently exceeded exports from 2007 to . In , there was a significant trade deficit of units, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.