From 2013 to 2023, Mexico's market for watch straps and parts of leather or plastic saw fluctuating per capita values starting at $0.069 in 2013, dropping to $0.053 in 2016, and stabilizing around $0.061 by 2023. Year-on-year, between 2022 and 2023, the market value per capita remained steady with no percentage change. Meanwhile, the compound annual growth rate (CAGR) over the last five years shows a slight positive trend, reflecting a moderate recovery from the 2020 dip.
Future trends to watch for include:
- Sustainable material adoption as consumer awareness grows.
- Technological innovations in smartwatch integrations influencing demand shifts.
- Economic factors and currency fluctuations impacting purchasing power.
| # | 9 Countries | US Dollars Per Capita | Last Year | |
|---|---|---|---|---|
| 1 | 1 Australia | 1.82 | 2023 | View data |
| 2 | 2 Italy | 1.63 | 2023 | View data |
| 3 | 3 Japan | 1.58 | 2023 | View data |
| 4 | 4 Germany | 1.49 | 2023 | View data |
| 5 | 5 New Zealand | 1.05 | 2023 | View data |
| 6 | 6 Lithuania | 0.38 | 2023 | View data |
| 7 | 7 South Africa | 0.1 | 2023 | View data |
| 8 | 8 Mexico | 0.061 | 2023 | |
| 9 | 9 Bosnia and Herzegovina | 0.059 | 2023 | View data |
