Asia-Pacific: Bracelet Market 2023

Bracelet Market Size in Asia-Pacific

The Asia-Pacific bracelet market was finally on the rise to reach $X in 2021, after three years of decline. Over the period under review, consumption, however, showed a perceptible decline. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Bracelet Production in Asia-Pacific

In value terms, bracelet production expanded modestly to $X in 2021 estimated in export price. In general, production, however, saw a abrupt decrease. The growth pace was the most rapid in 2015 when the production volume increased by 20%. As a result, production attained the peak level of $X. From 2016 to 2021, production growth remained at a somewhat lower figure.

Bracelet Exports

Exports in Asia-Pacific

In 2021, bracelet exports in Asia-Pacific skyrocketed to X tons, increasing by 23% compared with the year before. Total exports indicated pronounced growth from 2012 to 2021: its volume increased at an average annual rate of +3.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +35.5% against 2018 indices. The growth pace was the most rapid in 2015 with an increase of 53%. As a result, the exports reached the peak of X tons. From 2016 to 2021, the growth of the exports remained at a lower figure.

In value terms, bracelet exports soared to $X in 2021. Over the period under review, exports recorded a strong increase. The growth pace was the most rapid in 2015 when exports increased by 59%. As a result, the exports attained the peak of $X. From 2016 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

China represented the major exporting country with an export of about X tons, which finished at 72% of total exports. It was distantly followed by Hong Kong SAR (X tons), constituting a 22% share of total exports. Vietnam (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to bracelet exports from China stood at +9.9%. At the same time, Vietnam (+31.9%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +31.9% from 2012-2021. By contrast, Hong Kong SAR (-2.9%) illustrated a downward trend over the same period. From 2012 to 2021, the share of China and Vietnam increased by +29 and +2.2 percentage points, respectively.

In value terms, the largest bracelet supplying countries in Asia-Pacific were China ($X), Hong Kong SAR ($X) and Vietnam ($X), with a combined 87% share of total exports.

China, with a CAGR of +15.2%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2021, with an increase of 15% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.3%. The growth pace was the most rapid in 2013 an increase of 31%. The level of export peaked at $X per ton in 2015; however, from 2016 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Vietnam ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+4.8%), while the other leaders experienced mixed trends in the export price figures.

Bracelet Imports

Imports in Asia-Pacific

In 2021, approx. X tons of watch straps, bands and bracelets were imported in Asia-Pacific; jumping by 33% against the previous year's figure. Total imports indicated a strong increase from 2012 to 2021: its volume increased at an average annual rate of +5.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +43.7% against 2018 indices. The pace of growth appeared the most rapid in 2019 when imports increased by 38%. The volume of import peaked in 2021 and is likely to continue growth in the near future.

In value terms, bracelet imports soared to $X in 2021. The total import value increased at an average annual rate of +5.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, imports attained the peak figure at $X in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Hong Kong SAR (X tons) and Pakistan (X tons) were the main importers of watch straps, bands and bracelets in 2021, recording near 28% and 27% of total imports, respectively. Indonesia (X tons) ranks next in terms of the total imports with an 11% share, followed by South Korea (9.5%) and Vietnam (5%). The Philippines (X tons) and Japan (X tons) took a relatively small share of total imports.

From 2012 to 2021, the biggest increases were in Pakistan (with a CAGR of +38.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Hong Kong SAR ($X), Vietnam ($X) and South Korea ($X) constituted the countries with the highest levels of imports in 2021, together accounting for 52% of total imports. These countries were followed by Japan, the Philippines, Indonesia and Pakistan, which together accounted for a further 14%.

Among the main importing countries, the Philippines, with a CAGR of +50.0%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Asia-Pacific amounted to $X per ton, stabilizing at the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the import price increased by 7%. As a result, import price attained the peak level of $X per ton. From 2019 to 2021, the import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Japan ($X per ton), while Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+12.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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