Market Insights Consumer Accessories Watches & Jewelry

Jewelry - G7

In the year 2024, the Jewelry market in the country in G7 is projected to generate a revenue of US$90.88bn.
This market is expected to experience an annual growth rate of 1.74% (CAGR 2024-2029).
When compared globally, the highest amount of revenue, reaching US$114,500m, is expected to be generated in China.
Taking into account the total population figures, it is estimated that each person in the G7 country will contribute US$116.80 in revenue to the Jewelry market in 2024.
Looking ahead to 2024, approximately 82% of the sales in the Jewelry market will be attributed to Non-Luxury.
In the United States, the trend in the jewelry market is shifting towards personalized and unique pieces, reflecting individual tastes and styles.

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

Market

Region

Region comparison

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).