Market Insights Consumer Accessories Watches & Jewelry

Watches - Asia

Asia

In Asia, specifically in the country of in the United States, the revenue in the Watches market is projected to reach a substantial amount of US$21,150m in 2024.
This signifies the dominant position of in the United States in the global market, as it generates the highest revenue compared to other countries.
Furthermore, the Watches market in Asia is expected to grow at an annual rate of 6.27%, as measured by the Compound Annual Growth Rate (CAGR) from 2024 to 2029.
This growth indicates a positive trend in the demand for watches in the region.
In terms of per capita revenue, each individual in Asia is predicted to contribute approximately US$11.89 to the Watches market in 2024.
This figure takes into account the total population of the region.
Looking ahead to 2024, it is estimated that 54% of sales in the Watches market will be attributed to Non-Luxury.
This suggests that the majority of watches sold in the market will fall within the non-luxury category.
In Japan, the demand for luxury watches is on the rise, as consumers appreciate the craftsmanship and heritage associated with Swiss timepieces.

Key regions: Germany, United Kingdom, Worldwide, India, Europe

Market

Region

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Currency

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on consumer spending on accessories, including watches and jewelry, as well as luggage and bags. that are produced for private end consumers. Retail sales through both offline and online sales channels are included.

Modeling approach / Market size:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, market data from third-party sources (e.g., independent databases), historical developments, current trends, as well as survey results from our primary research (e.g., the Statista Consumer Insights Global survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP and consumer spending. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, exponential trend smoothing is well suited for making forecasts about the Accessories market, which is projected to grow steadily. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development).