Market Insights Consumer Accessories Watches & Jewelry

Watches - Malta

Malta

In Malta, the revenue in the Watches market reaches a substantial amount of US$18.60m in 2024.
Looking ahead, it is anticipated that this market will experience an annual growth rate of 7.26%, known as the Compound Annual Growth Rate (CAGR), between 2024 and 2029.
When comparing in Malta to the global market, it is important to note that in the United States generates the highest revenue in this segment, reaching an impressive US$21,150m in 2024.
To put this into perspective, in 2024, each person in Malta contributes approximately US$34.66 in revenue to the Watches market.
This figure is calculated by dividing the total revenue by the population.
Furthermore, by 2024, it is expected that 63% of the sales in the Watches market will be attributed to Luxury.
This emphasizes the significance of this particular market segment in the overall industry.
Malta's affluent population has a growing interest in luxury watches, driving the demand for high-end timepieces in the country.

Key regions: Germany, United Kingdom, Worldwide, India, Europe

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).