The hours worked in the jewellery and bijouterie sector in Germany have shown considerable fluctuations over the past decade. The value stood at 16.27 million hours worked in 2023. The sector experienced significant year-on-year variations, with periods of growth such as in 2015 (28.4%) and 2019 (19.49%), and sharp declines like in 2020 (-38.75%). The average annual variation over the last five years (CAGR) was 0.054%, indicating overall stability.
In terms of future projections, a gradual decline is expected, with a forecasted 5-year CAGR of -0.78%, leading to an anticipated value of 15.495 million hours by 2028. Key factors to monitor include changes in consumer demand, evolving fashion trends, and potential economic disruptions.
Future trends to watch for include:
- Impact of economic policies on disposable income and luxury goods spending
- Technological advancements in jewellery manufacturing
- Shifts towards sustainable and ethical jewellery production
- Emerging competition from digital marketplaces and customizable options
