Asia: Bracelet Market 2024

Bracelet Market Size in Asia

The Asian bracelet market contracted modestly to $X in 2022, almost unchanged from the previous year. Over the period under review, consumption enjoyed a mild increase. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Bracelet Production in Asia

In value terms, bracelet production dropped modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2014 with an increase of 22% against the previous year. Over the period under review, production reached the peak level at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

Bracelet Exports

Exports in Asia

In 2022, exports of watch straps, bands and bracelets in Asia skyrocketed to X units, surging by 16% compared with the previous year. Total exports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of +7.0% 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 +67.1% against 2018 indices. The most prominent rate of growth was recorded in 2015 with an increase of 41% against the previous year. The volume of export peaked in 2022 and is likely to see steady growth in years to come.

In value terms, bracelet exports expanded notably to $X in 2022. Total exports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +6.2% 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 +58.3% against 2020 indices. The pace of growth was the most pronounced in 2015 with an increase of 53% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

In 2022, China (X units) was the main exporter of watch straps, bands and bracelets, generating 77% of total exports. It was distantly followed by Hong Kong SAR (X units), constituting a 16% share of total exports. India (X units) held a relatively small share of total exports.

China was also the fastest-growing in terms of the watch straps, bands and bracelets exports, with a CAGR of +12.4% from 2012 to 2022. India (-2.7%) and Hong Kong SAR (-3.4%) illustrated a downward trend over the same period. While the share of China (+30 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of India (-3 p.p.) and Hong Kong SAR (-28.8 p.p.) displayed negative dynamics.

In value terms, the largest bracelet supplying countries in Asia were China ($X), Hong Kong SAR ($X) and India ($X), with a combined 80% share of total exports.

In terms of the main exporting countries, China, with a CAGR of +15.6%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

The export price in Asia stood at $X per unit in 2022, waning by -5.6% against the previous year. In general, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 an increase of 23%. Over the period under review, the export prices reached the peak figure at $X per unit in 2015; however, from 2016 to 2022, the export prices stood at a somewhat 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 Hong Kong SAR ($X per unit), while China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+2.9%), while the other leaders experienced more modest paces of growth.

Bracelet Imports

Imports in Asia

In 2022, approx. X units of watch straps, bands and bracelets were imported in Asia; rising by 13% against the previous year's figure. Total imports indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of +7.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +67.4% against 2018 indices. The most prominent rate of growth was recorded in 2021 with an increase of 38%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the near future.

In value terms, bracelet imports stood at $X in 2022. The total import value increased at an average annual rate of +4.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when imports increased by 28%. Over the period under review, imports attained the peak figure at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

Pakistan represented the key importing country with an import of around X units, which accounted for 36% of total imports. Hong Kong SAR (X units) took the second position in the ranking, distantly followed by Indonesia (X units) and Singapore (X units). All these countries together held near 34% share of total imports. The following importers - South Korea (X units), the Philippines (X units), Turkey (X units), Vietnam (X units), Japan (X units), China (X units), Taiwan (Chinese) (X units), the United Arab Emirates (X units) and India (X units) - together made up 24% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Pakistan (with a CAGR of +41.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest bracelet importing markets in Asia were Hong Kong SAR ($X), China ($X) and Vietnam ($X), with a combined 51% share of total imports. Japan, South Korea, Singapore, Taiwan (Chinese), the Philippines, the United Arab Emirates, Turkey, Indonesia, India and Pakistan lagged somewhat behind, together comprising a further 38%.

Among the main importing countries, the Philippines, with a CAGR of +50.0%, saw the highest growth rate of 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 Asia stood at $X per unit in 2022, which is down by -9.4% against the previous year. In general, the import price saw a pronounced slump. The most prominent rate of growth was recorded in 2013 an increase of 9.5% against the previous year. The level of import peaked at $X per unit in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was China ($X per unit), while Pakistan (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

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