Asia: Bracelet Market 2023

Bracelet Market Size in Asia

In 2021, the Asian bracelet market increased by 15% to $X, rising for the second year in a row after two years of decline. Over the period under review, consumption, however, recorded a perceptible curtailment. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Bracelet Production in Asia

In value terms, bracelet production expanded modestly to $X in 2021 estimated in export price. Overall, production, however, recorded a abrupt downturn. The pace of growth was the most pronounced in 2015 with an increase of 16%. The level of production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Bracelet Exports

Exports in Asia

In 2021, overseas shipments of watch straps, bands and bracelets increased by 22% to X tons, rising for the third year in a row after three years of decline. Total exports indicated perceptible growth from 2012 to 2021: its volume increased at an average annual rate of +3.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +36.3% against 2018 indices. The most prominent rate of growth was recorded in 2015 when exports increased by 53% against the previous year. As a result, the exports reached the peak of X tons. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, bracelet exports surged to $X in 2021. In general, exports enjoyed prominent growth. The pace of growth appeared the most rapid in 2015 with an increase of 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 largest exporting country with an export of around X tons, which amounted to 72% of total exports. It was distantly followed by Hong Kong SAR (X tons), generating a 22% share of total exports. Vietnam (X tons) took a little share of total exports.

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, with a CAGR of +31.9% from 2012-2021. By contrast, Hong Kong SAR (-2.9%) illustrated a downward trend over the same period. While the share of China (+28 p.p.) and Vietnam (+2.1 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Hong Kong SAR (-18.2 p.p.) displayed negative dynamics.

In value terms, the largest bracelet supplying countries in Asia were China ($X), Hong Kong SAR ($X) and Vietnam ($X), together comprising 87% of total exports.

China, with a CAGR of +15.2%, recorded the highest rates of growth with regard to the value of exports, among 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 stood at $X per ton in 2021, surging by 14% against the previous year. Over the last nine years, it increased at an average annual rate of +1.1%. The growth pace was the most rapid in 2013 when the export price increased by 30%. 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.

Prices varied noticeably country of origin: 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

In 2021, approx. X tons of watch straps, bands and bracelets were imported in Asia; with an increase of 37% against the year before. Total imports indicated a strong increase from 2012 to 2021: its volume increased at an average annual rate of +6.2% 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 +49.3% against 2018 indices. The most prominent rate of growth was recorded in 2019 with an increase of 41%. Over the period under review, imports attained the peak figure in 2021 and are likely to see steady growth in the near future.

In value terms, bracelet imports surged to $X in 2021. The total import value increased at an average annual rate of +5.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of import peaked at $X in 2015; however, from 2016 to 2021, imports failed to regain momentum.

Imports by Country

Hong Kong SAR (X tons) and Pakistan (X tons) represented roughly 52% of total imports in 2021. Indonesia (X tons) took a 10% share (based on physical terms) of total imports, which put it in second place, followed by South Korea (8.9%) and Vietnam (4.6%). The following importers - the Philippines (X tons), the United Arab Emirates (X tons), Japan (X tons), Turkey (X tons), Thailand (X tons), Taiwan (Chinese) (X tons) and Singapore (X tons) - together made up 17% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Pakistan (with a CAGR of +38.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Hong Kong SAR ($X), Vietnam ($X) and South Korea ($X) appeared to be the countries with the highest levels of imports in 2021, together accounting for 51% of total imports. These countries were followed by Japan, Singapore, Thailand, Taiwan (Chinese), the United Arab Emirates, the Philippines, Turkey, Indonesia and Pakistan, which together accounted for a further 33%.

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

Import Prices by Country

The import price in Asia stood at $X per ton in 2021, which is down by -1.6% against the previous year. Over the period under review, the import price saw a mild decrease. The most prominent rate of growth was recorded in 2018 an increase of 7.9%. As a result, import price reached the peak level of $X per ton. From 2019 to 2021, the import prices remained at a somewhat lower figure.

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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