The import value of watch straps and parts made of leather or plastic into Germany is projected to increase steadily from 2024 to 2028. In 2023, the count stood at 41.95 million USD. The forecasted annual growth rates show a gradual increase: 2.46% in 2025, 2.35% in 2026, 2.26% in 2027, and 2.16% in 2028. The Compound Annual Growth Rate (CAGR) from 2024 to 2028 would be approximately 2.31%.
Future trends to watch include:
- Impact of technological advancements in smartwatches leading to potential shifts in traditional watch component demand.
- Changing consumer preferences towards sustainable materials, potentially influencing the choice between leather and plastic.
- Global economic conditions affecting discretionary spending, thus impacting luxury goods imports.
