Mens Watch Market Report

Market Insights

The Men’s Watch market is projected to grow from USD xx million in 2020 to USD xx million by 2026 at a CAGR of around 4.1% during the forecast period.

Figure: Men’s Watch Market Size, 2020-2026 (USD Million)

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What is a watch?

A watch is defined as a portable timepiece intended to be carried or worn by a person. It is designed to keep a consistent movement despite the motions caused by the person's activities. Based on type, Men’s Watch can be categorized as mechanical, quartz, and smart.

Key Players

Key players operating in the Men’s Watch market are The Swatch Group Ltd (Switzerland), Rolex SA (UK), Compagnie Financière Richemont SA (Switzerland), Fossil Group, Inc. (US), Citizen Watch Co., Ltd. (Japan), Seiko Holdings Corporation (Japan), Patek Philippe SA (Switzerland), Casio (Japan), Le Petit-Fils de L.-U. Chopard & Cie S.A. (Switzerland), Audemars Piguet Holding SA (Switzerland), Movado (Switzerland), Kering (France), Breitling SA (Switzerland), Franck Muller (Switzerland), Folli Follie (Greece), Festina (Switzerland), Morellato Group (Italy) and FIYTA (Group) Co., Ltd. (China)

Market Dynamics

The growth of the men’s watch market is driven by the widespread use of watches by men across geographies. Rising spending on smartwatches in developing countries coupled with rising per capita disposable income is likely to drive the growth of the global men’s watch market at a significant rate during the review period. Additionally, surging demand for watches with innovative features is likely to create lucrative opportunities for the market players during the review period.

Segments' Analysis

Distribution Channel Trends

By distribution channel, the men’s watch market has been bifurcated into offline and online. Under these, the watch store segment accounted for the largest market share in 2020 and is projected to register significant growth during the review period. The segment growth can be attributed to the increasing number of men visiting offline stores to buy the watch. The online segment is expected to register healthy CAGR in the coming years due to convenience and easy product availability.

Regional Trends

By region, the market in North America accounted for the largest market share in 2020 and is projected to grow at a significant CAGR during the assessment period. The regional growth is primarily attributed to the high demand for smartwatches with innovative features coupled with the presence of key market players such as Fossil Group, Inc. (US). The market growth in the Asia-Pacific region is expected to be driven by the increasing popularity of luxurious watches among men in developing countries particularly China and India coupled with the rising per capita disposable income of the consumers.

COVID-19 Impact on Men’s Watch Market

The outbreak of the COVID-19 virus has affected the growth of the men’s watch market significantly. Stringent lockdown measures and restricted movement of people affected the production and product supply for a short period and thus, affected the market growth.

Critical Questions Answered in the Report

• What are the key trends in the Men’s Watch market?
• How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
• What is the impact of COVID-19 on the Men’s Watch market?
• What are the key strategies adopted by the major vendors to lead in the Men’s Watch market?
• What is the market share of the top vendors?

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Target Audience

Here is the list of the group of customers that the med's watch market hopes to have the greatest opportunity to convert-

• Men’s watch distributors
• Men’s watch suppliers
• Men’s watch manufacturers
• Logistics organizations
• Government bodies

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