Austria's Jewellery and Bijouterie market has seen considerable fluctuations over the past decade. The turnover peaked in 2013 at €2.04 billion and experienced notable drops and recoveries, with significant declines in 2014 and 2019. The market faced a steep decline of 45.59% in 2021 after a peak in 2020 at €2.51 billion, likely driven by exceptional circumstances. By 2023, the turnover settled at €1.28 billion, reflecting a minor decline of 3.17% compared to the previous year. The Compound Annual Growth Rate (CAGR) for the past 5 years stands at 2.6%, indicating modest recovery efforts.
Future trends forecast a gradual decline, with an anticipated 2.76% CAGR reduction over the next five years, leading to an estimated turnover of €1.08 billion by 2028. The market is predicted to experience a total decline of around 13.05% during this period.
Key trends to watch for in the future include:
- Consumer behavior shifts towards sustainable and ethical jewellery.
- Growth of online jewellery sales channels.
- Emergence of innovative designs and technology-driven customizations.
- Economic factors influencing disposable incomes and luxury spending.
