Eastern Asia: Bracelet Market 2024

Bracelet Market Size in Eastern Asia

The East Asian bracelet market fell to $X in 2022, with a decrease of -10.2% against the previous year. In general, consumption showed a relatively flat trend pattern. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Bracelet Production in Eastern Asia

In value terms, bracelet production totaled $X in 2022 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when the production volume increased by 31%. As a result, production attained the peak level of $X. From 2016 to 2022, production growth remained at a lower figure.

Bracelet Exports

Exports in Eastern Asia

In 2022, shipments abroad of watch straps, bands and bracelets increased by 19% to X units, rising for the fourth year in a row after three years of decline. Total exports indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of +7.1% 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 +75.7% against 2018 indices. The growth pace was the most rapid in 2015 when exports increased by 51%. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the near future.

In value terms, bracelet exports rose significantly to $X in 2022. Overall, exports saw resilient growth. The most prominent rate of growth was recorded in 2015 when exports increased by 72%. 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

China was the major exporting country with an export of around X units, which accounted for 81% of total exports. It was distantly followed by Hong Kong SAR (X units), achieving a 17% 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. Hong Kong SAR (-3.4%) illustrated a downward trend over the same period. China (+31 p.p.) significantly strengthened its position in terms of the total exports, while Hong Kong SAR saw its share reduced by -31.1% from 2012 to 2022, respectively.

In value terms, the largest bracelet supplying countries in Eastern Asia were China ($X) and Hong Kong SAR ($X).

China, with a CAGR of +15.6%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review.

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per unit, declining by -6.9% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2014 an increase of 27% against the previous year. The level of export peaked at $X per unit in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per unit), while China stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+2.9%).

Bracelet Imports

Imports in Eastern Asia

In 2022, bracelet imports in Eastern Asia dropped to X units, falling by -14.5% compared with the year before. Over the period under review, imports continue to indicate a perceptible slump. The most prominent rate of growth was recorded in 2015 when imports increased by 32%. As a result, imports reached the peak of X units. From 2016 to 2022, the growth of imports failed to regain momentum.

In value terms, bracelet imports amounted to $X in 2022. Total imports indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +3.3% 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 +29.7% against 2020 indices. The most prominent rate of growth was recorded in 2015 with an increase of 38%. As a result, imports attained the peak of $X. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Hong Kong SAR (X units) was the key importer of watch straps, bands and bracelets, creating 63% of total imports. South Korea (X units) held the second position in the ranking, followed by Japan (X units), China (X units) and Taiwan (Chinese) (X units). All these countries together held near 36% share of total imports.

Imports into Hong Kong SAR decreased at an average annual rate of -4.9% from 2012 to 2022. At the same time, South Korea (+18.7%), Taiwan (Chinese) (+15.1%) and Japan (+8.3%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +18.7% from 2012-2022. By contrast, China (-1.6%) illustrated a downward trend over the same period. South Korea (+12 p.p.), Taiwan (Chinese) (+5.3 p.p.) and Japan (+4.9 p.p.) significantly strengthened its position in terms of the total imports, while Hong Kong SAR saw its share reduced by -22.7% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Hong Kong SAR ($X), China ($X) and Japan ($X) were the countries with the highest levels of imports in 2022, with a combined 79% share of total imports. South Korea and Taiwan (Chinese) lagged somewhat behind, together accounting for a further 18%.

South Korea, with a CAGR of +12.7%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per unit, picking up by 20% against the previous year. Over the last decade, it increased at an average annual rate of +5.3%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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 ($X per unit), while Hong Kong SAR ($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 (+10.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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