Luxury Watches & Jewelry - Worldwide

Worldwide

The Luxury Watches & Jewelry market worldwide is projected to generate a revenue of €70.64bn in 2024.
According to market projections, this segment is expected to grow at an annual rate of 2.43% (CAGR 2024-2028).
In comparison to other countries, in China is expected to generate the highest revenue of €23,090m in 2024.
When considering the total population, the per person revenue in 2024 is estimated to be €9.12.
Luxury watch brands like Rolex, Cartier, and Patek Philippe continue to dominate the global market, with strong demand in countries such as Switzerland, the birthplace of fine watchmaking.

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.