Between 2013 and 2023, New Zealand's watch straps and parts market increased from $0.56 to $1.05 per capita, showing a growing demand for these accessories. The market experienced fluctuations, especially from 2020 to 2022, with a pandemic-driven dip in 2020 of 15.1%, recovering by 18.8% in 2021 and steady growth thereafter. The CAGR from 2018 to 2023 was approximately 2.5% per annum. In 2023, the market stood at $1.05 per capita.
Future trends suggest continued growth driven by lifestyle changes leaning towards wearable customization and the increasing popularity of luxury and smartwatches demanding high-quality leather or plastic straps.
