The turnover in the German manufacture of jewellery and related articles sector showed a fluctuating trend from 2013 to 2023. It stood at 1.84 billion Euros in 2023, reflecting a year-on-year increase of 8.99%. Over the previous two years, the sector showed positive growth, with increases of 12.98% in 2022 and 22.99% in 2021, following a significant decline in 2020 due to the pandemic.
In terms of longer-term trends: - Between 2013 and 2023, the sector experienced variabilities, with notable peaks in 2016 (48.31% year-on-year increase) and 2017 (3.58% year-on-year increase), followed by a dip in 2018 (-13.67%). - The five-year CAGR from 2018 to 2023 is 2.88%, indicating a steady upward trend despite short-term volatilities.
Future trends to watch include:- An anticipated steady growth with a forecasted five-year CAGR of 2.11% from 2024 to 2028.- The sector is expected to reach 2.1 billion Euros by 2028, with a forecasted overall five-year growth rate of 10.98%.- Factors like technological advancements in manufacturing, emerging fashion trends, and changing consumer preferences will be crucial for future growth dynamics in the sector.
