The market for watch straps and parts of leather or plastic in South Africa has shown a declining trend from 2013 to 2023, dropping from a per capita value of $0.11 to $0.10 in 2023. Over the last two years, the market contracted by 9.1%, and the five-year compound annual growth rate (CAGR) shows an average annual decrease of 7.0%. Variations were notably between 2018’s $0.15 and 2023’s $0.10.
Looking forward, key trends and opportunities include:
- Potential recovery with economic stabilization and consumer spending increase.
- Growing interest in smartwatches could influence demand for watch straps.
- Sustainability and eco-friendly materials are emerging as significant points of interest, potentially driving market growth.
| # | 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 | |
| 8 | 8 Mexico | 0.061 | 2023 | View data |
| 9 | 9 Bosnia and Herzegovina | 0.059 | 2023 | View data |
