Market Insights Consumer Accessories Watches & Jewelry

Jewelry - Central & Western Europe

Central & Western Europe

In Central & Western Europe, the revenue in the Jewelry market is projected to reach US$15.94bn in 2024.
According to market analysis, this segment is expected to grow annually by 2.05%, representing a compound annual growth rate (CAGR) for the period 2024-2029.
When compared to other countries globally, in China leads in terms of revenue generation, with an estimated US$114,500m in 2024.
This showcases the significant contribution of the in Chinan market to the global jewelry industry.
To put things into perspective, in 2024, the per capita revenue in the Jewelry market in Central & Western Europe amounts to US$47.52.
This indicates the average revenue generated per person in this market segment.
Looking ahead, it is projected that by 2024, 68% of the total sales in the Jewelry market will be attributed to Non-Luxury.
This highlights the dominance of Non-Luxury products in the market, further emphasizing the importance of this segment in driving overall sales.
In Germany, the demand for artisanal and sustainable jewelry made from recycled materials is on the rise.

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).