Market Insights Consumer Accessories Watches & Jewelry

Jewelry - Burundi

Burundi

In Burundi, the revenue in the Jewelry market reached an impressive US$62.63m in 2024.
It is projected that this market will experience a steady annual growth rate of 6.44% from 2024 to 2029 (CAGR 2024-2029).
When compared on a global scale, it is noteworthy that in China generates the highest revenue in the Jewelry market, with a staggering US$114,500m in 2024.
This further emphasizes the significant role of the Jewelry market industry in global markets.
In terms of per capita revenue, in Burundi generates approximately US$4.61 per person in the Jewelry market in 2024.
This figure provides insight into the economic impact of the industry at an individual level within the country.
Looking ahead to 2024, it is estimated that 97% of sales in the Jewelry market in Burundi will be attributed to Non-Luxury.
This indicates the prominence of non-luxury items within the market segment and highlights the preferences of consumers in the country.
Burundi's jewelry market is flourishing with a resurgence in traditional tribal designs reflecting the country's rich cultural heritage.

Key regions: Worldwide, Spain, France, Hong Kong, Germany

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Methodology

Data coverage:

The data encompasses B2C enterprises. The figures are based on consumer spending on accessories that comprise of Watches & Jewelry and Luggage & Bags that are produced for private end customers for both offline retail and online retail.

Modeling approach:

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 independent databases and third-party sources, historical developments, current trends, as well as survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, 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, the exponential trend smoothing is well suited for forecasting the Accessories market with projected steady growth. 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).