Market Insights Consumer Accessories Watches & Jewelry

Jewelry - EAEU

EAEU

In the year 2024, the revenue in the Jewelry market in the EAEU amounts to a significant US$4.88bn.
This market is projected to experience an annual growth rate of 4.80% from 2024 to 2029, as measured by the Compound Annual Growth Rate (CAGR).
When comparing the global market, it is worth noting that in China generates the highest revenue in the Jewelry market, reaching a substantial US$114,500m in 2024.
To put this into perspective, in 2024, the per person revenue in the EAEU for Jewelry market amounts to US$26.68.
This figure is calculated by dividing the total revenue by the population of the EAEU.
Looking forward to the future, it is estimated that by 2024, approximately 97% of the sales in the Jewelry market will be attributed to Non-Luxury.
This indicates that the majority of revenue in this market segment will come from non-luxury items.
Jewelry sales in the EAEU are experiencing a surge due to the rising disposable income and increasing preference for luxury goods among the affluent population.

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).