Market Forecast By Product Type (Type, Ceramic, Fabric, Leather, Metal, Plastic, Rubber), By Distribution Channel Outlook (Revenue, USD Million, 2016 - 2027) (Online, Offline), By Application (Women, Men) And Competitive Landscape
Product Code: ETC433008 | Publication Date: Dec 2022 | Product Type: Market Research Report | |
Publisher: 6Wresearch | No. of Pages: 75 | No. of Figures: 35 | No. of Tables: 20 |
The Egypt Watch Straps Market is anticipated to grow smoothly and rapidly over the forecast period. This sector is gradually taking a vital place in the country. The willingness of people to spend on luxury watches is one major factor driving this sector in the country.
According to 6Wresearch, the Egypt Watch Straps Market size is expected to grow during 2023-2029.This sector has been taking a significant place in the country since there is a growing trend among people in the country to spend on luxury watches. This factor is increasingly driving the market growth in the country. Growing disposable incomes, changing lifestyle, rising popularity of smartwatches are some major factors that are stimulating the growth of watch strap market in Egypt which is the major parts of Africa Watch Straps Market. The changing fashion trend among people in Egypt is also driving this market in the country. The growth in disposable income is giving people purchasing power which is fueling the growth of this sector. The high cost of these products is one restraining factor for this sector. This factor can restrain the growth of this evolving sector. However, the market players have been working in the areas that can challenge the sector. The companies in this sector are focusing on delivery good quality products at affordable prices so the sector will continue to progress smoothly in the years to come. With the help of these growth factors, the Egypt Watch Straps Market share will grow more in the near future. The sector will become one of the most essential sectors in Egypt since it has been helping propelling the growth of smartwatches which is widely used across the world. Smartwatches offer many features which attracts people to buy these watches instead of buying traditional watches.
The Egypt Watch Strap Market is the market that offers watch straps and watch straps are not very essential for human survival which led to the disruption in this market during the COVID-19 pandemic. The COVID-19 pandemic hit this sector just the way it hit other non-essential sectors in the nation. Sectors providing the essential services operated and progressed during the tough time. Many sectors not just in Egypt but across the world had to deal with severe challenges when pandemic hit since they lack the potential to add value to their consumers life in the difficult time. The sector is now developing in the efficient manner again.
Based on product type, the Egypt Watch Strap Industry is fragmented into Type, Ceramic, Fabric, Leather, Metal, Plastic, and Rubber. In the sector, the leather segment is estimated to account for the largest share over the forecast period owing to its rising demand in the sector.
Based on distribution channel, the watch strap market in Egypt is fragmented into Online, and Offline. In the market, the online distribution channel segment is estimated to grow at a rapid pace.
Based on application, the industry in Egypt is fragmented into Women, and Men. Both these segments are evolving in the sector.
The report offers a comprehensive study of the subsequent market segments: