ASEAN: Bracelet Market 2025

Bracelet Market Size in ASEAN

The ASEAN bracelet market totaled $X in 2022, increasing by 5.1% against the previous year. Over the period under review, consumption saw a measured expansion. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Bracelet Production in ASEAN

In value terms, bracelet production contracted rapidly to $X in 2022 estimated in export price. In general, production, however, continues to indicate a strong expansion. The most prominent rate of growth was recorded in 2019 when the production volume increased by 190% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Bracelet Exports

Exports in ASEAN

In 2022, after six years of growth, there was significant decline in overseas shipments of watch straps, bands and bracelets, when their volume decreased by -19.4% to X units. Over the period under review, exports, however, continue to indicate a resilient increase. The pace of growth was the most pronounced in 2014 with an increase of 59%. Over the period under review, the exports hit record highs at X units in 2021, and then reduced remarkably in the following year.

In value terms, bracelet exports declined slightly to $X in 2022. Total exports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +8.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +42.3% against 2020 indices. The most prominent rate of growth was recorded in 2014 when exports increased by 72% against the previous year. The level of export peaked at $X in 2021, and then declined in the following year.

Exports by Country

Vietnam represented the key exporter of watch straps, bands and bracelets in ASEAN, with the volume of exports amounting to X units, which was near 40% of total exports in 2022. Cambodia (X units) took the second position in the ranking, distantly followed by Singapore (X units) and Thailand (X units). All these countries together took near 51% share of total exports. Myanmar (X units), the Philippines (X units) and Malaysia (X units) took a relatively small share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Myanmar (with a CAGR of +952.7%), while the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X) remains the largest bracelet supplier in ASEAN, comprising 52% of total exports. The second position in the ranking was taken by Vietnam ($X), with a 23% share of total exports. It was followed by Thailand, with a 17% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Singapore totaled +11.7%. The remaining exporting countries recorded the following average annual rates of exports growth: Vietnam (+4.8% per year) and Thailand (+3.8% per year).

Export Prices by Country

The export price in ASEAN stood at $X per unit in 2022, picking up by 21% against the previous year. Overall, the export price, however, saw a drastic downturn. Over the period under review, the export prices hit record highs at $X per unit in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per unit), while Cambodia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+11.6%), while the other leaders experienced more modest paces of growth.

Bracelet Imports

Imports in ASEAN

In 2022, approx. X units of watch straps, bands and bracelets were imported in ASEAN; with an increase of 6.9% on the year before. In general, imports enjoyed a remarkable increase. The growth pace was the most rapid in 2014 when imports increased by 44%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, bracelet imports stood at $X in 2022. Overall, imports recorded buoyant growth. The most prominent rate of growth was recorded in 2014 when imports increased by 26% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in years to come.

Imports by Country

Indonesia represented the key importer of watch straps, bands and bracelets in ASEAN, with the volume of imports recording X units, which was near 41% of total imports in 2022. Singapore (X units) took a 23% share (based on physical terms) of total imports, which put it in second place, followed by the Philippines (13%), Vietnam (11%) and Thailand (6.6%). Myanmar (X units) and Malaysia (X units) held a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for Myanmar (with a CAGR of +62.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest bracelet importing markets in ASEAN were Vietnam ($X), Singapore ($X) and Thailand ($X), with a combined 80% share of total imports. The Philippines, Indonesia, Malaysia and Myanmar lagged somewhat behind, together comprising a further 20%.

In terms of the main importing countries, the Philippines, with a CAGR of +50.0%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in ASEAN stood at $X per unit in 2022, dropping by -4.8% against the previous year. Over the period under review, the import price saw a noticeable slump. The most prominent rate of growth was recorded in 2013 an increase of 39% against the previous year. As a result, import price attained the peak level of $X per unit. From 2014 to 2022, the import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Vietnam ($X per unit), while Myanmar (less than $X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+16.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform