Luxury Watches & Jewelry - Asia

Asia

In the year 2024, the Luxury Watches & Jewelry market in Asia is projected to generate a substantial revenue of €44.17bn.
It is anticipated that this market will experience a steady annual growth rate of 3.02%, as measured by the compound annual growth rate (CAGR) from 2024 to 2028.
When compared to other countries worldwide, in China emerges as the top revenue generator in this segment, with an estimated revenue of €23,420m in 2024.
Taking into account the total population figures, the per person revenue in 2024 is estimated to be €9.72.
This indicates the potential for high individual spending in the Luxury Watches & Jewelry market in Asia.
The luxury watches and jewelry market in Japan is experiencing a surge in demand, driven by the country's affluent population and strong appreciation for craftsmanship and design.

Key regions: United Kingdom, China, France, South Korea, Japan

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Analyst Opinion

Hard luxury is a mainstay of the personal luxury goods industry and still accounts for a high share of sales, yet it has been characterized by relatively low growth in recent years due to an economic slowdown and changing consumption habits, especially in the Greater China region, which used to fuel global sales at the beginning of the decade. The biggest players in this field are LVMH, Richemont, Kering, Swatch, Chow Tai Fook, Lao Feng Xiang, and Rolex. A detailed list of all assessed companies and their brands can be found in the methodology.

Methodology

The Luxury Watches & Jewelry market is built on resources from the Statista platform as well as on in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. We evaluate the status quo of the market, monitor trends, and create an independent forecast regarding market developments of the global Luxury Watches & Jewelry industry.