Over the past decade, the market size value per capita for watch straps and parts of base metal in Canada showed limited fluctuation, starting at $0.14 in 2013, reaching a low of $0.11 in 2020, and stabilizing to $0.13 by 2023. The sharp decline observed in 2020 suggests implications of broader economic impacts, likely attributable to global events. Although a brief recovery was evident in 2021, a slight decline followed, maintaining a steadiness from 2022 onwards.
Pointing to future trends, the market is projected to stabilize as digital transformation and smartwatches might influence preference shifts, implying gradual innovation adaptation could be necessary to maintain demand. Necessity for sustainability and customization might also drive market strategy.
