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Watches & Jewelry - Uganda

Uganda
  • In Uganda, the revenue in the Watches & Jewelry market reaches US$656.10m in 2024.
  • It is projected that this market will experience an annual growth rate of 10.68% (CAGR 2024-2029).
  • When compared to the global market, China generates the highest revenue with US$134bn in 2024.
  • Looking at the population figures, the per person revenues amount to US$13.14 in 2024.
  • Additionally, by 2024, 99% of the sales in the Watches & Jewelry market will be attributed to Non-Luxury.
  • Despite economic challenges, Ugandans have shown a growing interest in luxury watches and jewelry, indicating a rising demand for high-end accessories in the country.

Definition:

The Watches & Jewelry market includes both watches and jewelry.

Structure:

The Watches & Jewelry market is divided into two sections:

  • The Watches market covers different types of devices used to indicate or measure time that are either worn around the wrist or in a pocket. Both analog and digital watches are included.
  • The Jewelry market covers rings, necklaces, earrings, bracelets, brooches, and other small decorative items that are worn for personal ornamentation.

Additional information:

The market comprises revenues and average revenue per capita. Revenues are generated through both online and offline sales channels. The key players in the market are leaders in their respective segments and are known for their innovative products, brand reputation, and extensive distribution networks. For more information on the data displayed, use the info button right next to the boxes.

In-Scope

  • Analog and digital watches
  • Fashion and high jewelry

Out-Of-Scope

  • Watch parts
  • Watchbands
  • Non-wearable fashion accessories
Watches & Jewelry: market data & analysis - Cover

Market Insights report

Watches & Jewelry: market data & analysis

Study Details

    Revenue

    Most recent update: Mar 2024

    Source: Statista Market Insights

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Sales Channels

    Most recent update: Mar 2024

    Source: Statista Market Insights

    Global Comparison

    Most recent update: Sep 2024

    Source: Statista Market Insights

    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).

    Consumer

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    Watches & Jewelry: market data & analysis - BackgroundWatches & Jewelry: market data & analysis - Cover

    Key Market Indicators

    Notes: Based on IMF, World Bank, UN and Eurostat

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Explore more high-quality data on related topic

    Global Jewelry Market - Statistics & Facts

    Humans have worn jewelry for many thousands of years. It is one of the most ancient and enduring forms of personal expression. Whether it’s a luxurious diamond necklace, or a simple charm bracelet, jewelry can make the wearer instantly feel more confident and stylish. In 2022, the global luxury jewelry market amounted to about 28 billion euros. Globally, the lion’s share of the jewelry and watch market revenue generated in 2022 is attributed to three countries: China was the largest, followed closely by India and the United States. The value of the jewelry market is expected to increase from about 270 billion U.S. dollars in 2022 to over 330 billion dollars by 2026. One of the most exciting new innovations in the jewelry industry is lab-created diamonds, which are often indistinguishable from natural diamonds, and are expected to become much more common and readily available in the near future.
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