Market Insights Consumer Accessories Watches & Jewelry

Jewelry - China

China

in China, being a major player in the global market, is expected to generate significant revenue in the Jewelry market.
In 2024, the revenue in this segment for China is projected to be US$114.50bn.
This indicates a promising growth rate of 4.79% annually, based on the compound annual growth rate (CAGR) from 2024 to 2029.
Despite China's substantial revenue, it is worth noting that in China leads the pack in terms of generating the highest revenue in the global Jewelry market.
In 2024, in China is expected to generate a staggering amount of US$114,500m.
This highlights the fierce competition between these two countries in the Jewelry market industry.
To put things into perspective, the per capita revenue in the Jewelry market for China is estimated to be US$79.95 in 2024.
This figure takes into account the total population of China, indicating the economic impact of the sector on an individual basis.
Looking ahead, it is projected that 89% of sales in the Jewelry market by 2024 will be attributed to non-luxury goods.
This showcases the dominance of affordable and accessible jewelry products in the market.
Overall, the Jewelry market in China is poised for growth and competition with in China.
The revenue figures and market trends indicate the significance and potential of this market segment in the country.
China's jewelry market is experiencing a surge in demand for luxury gemstones and high-end designs, driven by the country's growing middle class and rising disposable incomes.

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

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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).