The Italian watch straps and parts market size per capita showed modest fluctuations from 2013 to 2023. After reaching $1.97 per capita in 2016, there was a decline to $1.37 in 2020, likely impacted by global economic disruptions. A recovery followed, with values slightly rising to $1.64 by 2022. In 2023, the market steadied at $1.63 per capita.
Key observations:
- 2022 to 2023 saw a slight decrease of 0.61%.
- The last five years exhibited a CAGR of approximately -0.36%, indicating a minor decline.
Future trends to watch include increased consumer preference for sustainable materials and the potential influence of smartwatches on traditional watch accessories, which might lead to more innovative and eco-friendly product offerings.
