Market Insights Consumer Accessories Watches & Jewelry

Jewelry - Italy

Italy

in Italy, a country with a rich history in the jewelry industry, is expected to generate a revenue of €2.91bn in the Jewelry market by 2024.
This figure represents the total amount of money generated from the sales of jewelry products within the country during that year.
Looking ahead, the market is projected to experience an annual growth rate of 0.94% between 2024 and 2029.
This growth rate, also known as the Compound Annual Growth Rate (CAGR), indicates the average rate at which the market is expected to expand during this period.
In a global comparison, in China takes the lead in terms of revenue generation in the Jewelry market, with an estimated revenue of €106,200m in 2024.
This figure highlights the significant impact in China has on the global jewelry market, surpassing other countries in terms of revenue generation.
When considering the revenue in relation to the total population of Italy, it is calculated that each person generates approximately €49.55 in jewelry revenue in 2024.
This figure provides an insight into the per capita spending on jewelry within the country during that year.
Looking further into the future, it is anticipated that 53% of the sales in the Jewelry market by 2024 will be attributed to Non-Luxury.
This percentage indicates the dominance of non-luxury jewelry products in the market, showcasing the preferences and buying patterns of consumers within the industry.
The demand for high-end, artisanal Italian jewelry continues to soar, as consumers are drawn to the country's rich history and tradition of exquisite craftsmanship.

Key regions: Worldwide, Spain, France, Hong Kong, Germany

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Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on consumer spending on accessories, including watches and jewelry, as well as luggage and bags. that are produced for private end consumers. Retail sales through both offline and online sales channels are included.

Modeling approach / Market size:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, market data from third-party sources (e.g., independent databases), historical developments, current trends, as well as survey results from our primary research (e.g., the Statista Consumer Insights Global survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP and consumer spending. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, exponential trend smoothing is well suited for making forecasts about the Accessories market, which is projected to grow steadily. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development).