The market size value per capita of watch straps and parts of base metal in Germany shows some fluctuations from 2013 to 2023, with a slight upward trend overall. In 2023, the value stands at $0.64 per capita. Over the last two years, the year-on-year growth rates were 1.59% from 2021 to 2022 and 0% from 2022 to 2023. This indicates a stabilization in growth. The 5-year CAGR from 2018 to 2023 is about 0.63%, reflecting modest growth over this period.
Future trends to watch for:
- Increased demand for customizable and luxury watch accessories.
- Impact of technological advancements and smartwatches on traditional watch components.
- Sustainability driving a demand for eco-friendly materials in manufacturing.
