In 2023, China imported watch straps and parts of leather or plastic amounting to 396.98 thousand kilograms. Forecasts for 2024 to 2028 show a consistent decline, with imports expected to decrease from 359.06 to 213.35 thousand kilograms. This indicates a year-on-year decline, with a significant downward trend over the five-year period.
The overall Compound Annual Growth Rate (CAGR) from 2024 to 2028 is negative, reflecting a reduction in import volumes each year. Observing these projections, businesses should prepare for a shrinking market.
Future trends to monitor include potential changes in consumer preferences, shifts towards digital or smart watches, and local production increases, which could further impact demand for imported watch straps.
