The watch straps and parts market in Mexico, based on leather or plastic, stood at 7.9305 million US dollars in 2023. From 2013 to 2015, the market experienced a decline, followed by fluctuating recovery phases, notably in 2018 and 2019. The impact of the COVID-19 pandemic in 2020 caused a significant drop, with a 19.72% year-on-year decrease. Recent years show a shift towards stability, evident with growth in 2021 and a slight increase in 2023. The five-year CAGR from 2019 to 2023 was 1.33%.
Future trends to watch include the growing impact of smartwatches, driving demand for interchangeable watch straps. Consumers' preferences for sustainable and eco-friendly materials are likely to influence market dynamics, requiring adaptation by manufacturers and retailers.
| # | 9 Countries | US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Japan | 198,550,000 | 2023 | +0.23% | +0.42% | View data |
| 2 | 2 Germany | 121,790,000 | 2023 | +4.84% | +1.66% | View data |
| 3 | 3 Italy | 99,069,000 | 2023 | -0.34% | +0.18% | View data |
| 4 | 4 Australia | 46,643,000 | 2023 | +3.78% | +3.96% | View data |
| 5 | 5 Mexico | 7,930,500 | 2023 | +0.36% | +1.33% | |
| 6 | 6 South Africa | 6,319,500 | 2023 | -6.9% | -6.11% | View data |
| 7 | 7 New Zealand | 5,291,100 | 2023 | +3.41% | +3.08% | View data |
