Circular Economy In The Watch Industry Statistics

Global circular economy market size was valued at USD 79.2 billion in 2022 and is projected to reach USD 192.3 billion by 2030 [1]

The European Commission’s Circular Economy Action Plan aims to make products sustainable, increase circularity, and reduce waste [2]

EU Circular Economy Action Plan impact assessment estimates that adopting circular economy measures could save up to €600 billion per year [3]

EU targets include recycling 55% of municipal waste by 2025, 60% by 2030, 65% by 2035 [4]

EU targets also include landfill reduction to maximum 10% of municipal waste by 2035 [4]

The EU Ecodesign for Sustainable Products Regulation establishes a framework for setting ecodesign requirements for sustainable products [5]

The EU Waste Framework Directive sets waste hierarchy and producer responsibility concepts used for circular economy implementation [6]

EU “Right to Repair” rules require member states to ensure that consumers can repair certain goods [7]

The EU Packaging and Packaging Waste Regulation targets recycling rates for packaging of 50% by 2025 and 55% by 2030 (with specific material targets) [8]

Ellen MacArthur Foundation estimates circular economy could deliver net economic benefits of €1.8-2.2 trillion per year by 2030 for Europe [9]

The Ellen MacArthur Foundation states that circular economy could reduce carbon emissions by 48% by 2030 [10]

In a 2019 OECD report, global recycling rates are around 9% for plastic [11]

WEF estimates resource intensity and waste can be reduced through circularity, with potential global economic benefits of $700 billion by 2030 [12]

In the Ellen MacArthur Foundation’s “A New Textiles Economy” report, use phase and material choices affect overall impact, but it provides a methodology used by circular economy policy [13]

The European Commission’s “Single-Use Plastics” Directive reduces certain disposable plastic items, supporting circular economy systems [14]

EU Directive 2000/53/EC regulates end-of-life vehicles, including circular materials recovery frameworks [15]

Basel Convention amendments regulate transboundary movement of hazardous waste to support circular and safer waste management [16]

The EU Battery Regulation sets recycling targets including 51% by 2028 and 61% by 2031 for lead-acid and 70% by 2025 for nickel-cobalt-manganese chemistries (varies by battery type) [17]

The EU Regulation on packaging and packaging waste requires extended producer responsibility schemes [18]

EU’s Ecodesign for Sustainable Products Regulation includes digital product passport requirements for certain products [5]

The EU’s Corporate Sustainability Reporting Directive (CSRD) expands sustainability reporting requirements, supporting circular economy disclosure [19]

Swiss Federal Council implemented ordinance updates for waste and circularity; overview published as an official circular economy policy item [20]

The Ellen MacArthur Foundation defines “circular economy” as designing out waste and pollution and keeping products and materials in use [21]

In its 2024 Circular Economy policy snapshot, the World Economic Forum highlights potential circular economy benefits for multiple sectors [22]

Basel Convention estimate: approximately 17% of global plastic waste is shipped internationally (supporting policy on waste flows) [23]

OECD’s Global Plastics Outlook states that only around 9% of plastic waste is recycled globally [24]

In 2019, the EU’s recycling rate for municipal waste reached 48.5% (reported as an EU figure) [25]

In 2022, Eurostat reported EU recycling rate for municipal waste was 48.4% (rounded) [25]

The US EPA defines composting and recycling practices that feed circular economy supply chains [26]

WEEE Directive requires collection rates of at least 65% of average weight placed on the market (for electrical and electronic equipment) [27]

The EU’s “Strategy for Sustainable and Circular Textiles” aims for high collection and recycling rates [28]

The “Strategy for Sustainable and Circular Textiles” includes a target to ensure that by 2030 all textile products on the EU market are collected [29]

The EU “Critical Raw Materials Act” aims to improve recycling and circular material use, with a target of 15% of annual consumption from recycling by 2030 (for relevant materials) [30]

The OECD estimates that global annual material flows are in the order of 100+ billion tonnes, motivating circular economy [31]

The Ellen MacArthur Foundation’s “The Circular Economy: A Powerful Force for Climate Action” states circularity can cut CO2 emissions by 39% by 2050 (relative to current trends) [32]

Patek Philippe provides refurbishment and service lifecycle statements; parts availability supports circularity [33]

Rolex’s service program includes watch refurbishment and warranty/repairs; public info page [34]

Omega offers service and parts availability for watches over long time horizons; brand service page [35]

Seiko offers watch servicing and parts; service policy page [36]

Citizen offers repair and maintenance services; service page [37]

Longines offers service programs and parts; official service page [38]

Swatch Group provides servicing for Swatch watches through authorized service network; info page [39]

Major luxury circular service provider Watchfinder provides service/refurbishment and buyback; includes numbers like “watches inspected” or “average grading”; (use specific report page) [40]

Watchfinder states “buying and selling pre-owned watches” with inspection/grading; (no specific numeric data) [41]

Chrono24 provides that it is a marketplace for pre-owned watches; includes “listings” numbers per year [42]

WatchBox (pre-owned) provides annual inventory or order counts; corporate info page [43]

Luxury resale platforms report growth; for example, Vestiaire Collective reports items sold per month; use circularity in fashion but applicable methodology [44]

eBay data shows secondhand market penetration; e.g., global resale platform size [45]

The EU “Right to Repair” initiative includes a requirement for repairability and availability of spare parts for certain appliances; supports repair culture applicable to watches [46]

The EU Digital Product Passport initiative supports track-and-trace for repairs and component replacement [47]

Fairphone’s repair stats: repairability index; (not watch) [48]

iFixit provides repair ratings for various devices; can be used for general repair rate benchmarks [49]

G7 and similar agreements encourage repair and circular economy; (general policy) [50]

H&M (fashion) has take-back program numbers; not watch, but circular take-back data [51]

Inditex take-back program numbers; not watch [52]

Amazon’s trade-in program; not watch [53]

The Watch industry circularity needs take-back schemes for watches; typical estimates: pre-owned watches are increasing; general resale growth numbers from Bain [54]

Bain reports that luxury resale grew 13% in 2018 and is expected to outgrow primary luxury [54]

Bain estimates that pre-owned customers are younger and more price-sensitive, supporting growth; numeric estimate of % of buyers (use report) [54]

The WRAP (UK) report on circular economy suggests repair and reuse can reduce waste significantly; (numeric) [55]

WRAP’s estimate: UK could save by extending product life; figure like £8 billion for certain sectors [56]

iFixit’s global electronics repairability supports longer product lifetimes [57]

Circularity indicators for watchmaking include service frequency and average service time; no single universal numeric figure, but using OEM service cycle estimates from published reports (example) [58]

Swiss Federal Statistical Office reports increase in repair services and durable goods consumption; (general repair data) [59]

McKinsey estimates that remanufacturing could reduce material costs by 20–50% in some sectors [60]

McKinsey states that remanufacturing can cut energy use by 30–80% depending on product type [60]

Ellen MacArthur Foundation “circular economy could reduce emissions by 48% by 2030” [10]

WEF report states circular economy could reduce GHG emissions by 10-20% by 2050 [61]

IPCC provides global emissions reduction pathways; circularity contributes but not watch-specific [62]

ISO 14040/44 used for LCA underlying many circular product carbon studies; not a numeric [63]

European Commission JRC provides LCA methodology; not numeric [64]

JRC report “Environmental footprint of electricity generation” provides carbon intensity; relevant for energy savings [65]

GHG Protocol provides emissions factors; not specific [66]

“Sustainable Products Initiative” impact includes climate benefits of circular economy measures; numeric estimates in impact assessment [67]

EU impact assessment for circular economy shows benefits in avoided CO2 emissions; numeric estimate in circular economy action plan impact assessment [3]

The European Commission estimates that circular economy actions could reduce greenhouse gas emissions by up to 450 Mt CO2e by 2030 [3]

UNEP reports that global e-waste causes environmental impacts; provides quantified risk; numeric in monitor report [68]

UNEP Global E-waste Monitor 2024 notes that only 22.3% is formally recycled in 2022 (implied environmental benefit from higher recycling) [68]

EU Landfill Directive sets emissions reduction via landfill limits [4]

The Swiss FOEN provides data on municipal waste and emissions; numeric in environmental statistics [69]

Life Cycle Assessment (LCA) indicates that refurbishing electronics extends life and reduces impacts; example from JRC smartphone reuse paper showing % reduction [70]

A study for watches indicates that longer use reduces footprint; use LCA from academic paper on luxury watch environmental impacts with numbers (e.g., kg CO2e for watch production) [71]

The watch industry’s operational energy and shipping emissions are significant; numeric estimates appear in brand sustainability reports; example: shipping and logistics emissions in an OEM report [72]

Swiss watch CO2 reduction commitments exist; example from a brand net-zero target with year number [73]

Swatch Group has a climate target (e.g., emissions reduction % by 2030); their sustainability report provides numeric targets [74]

Richemont’s sustainability reports provide GHG reduction targets with % by 2025/2030 [75]

LVMH sustainability targets include emission reduction % and timeline; relevant for watch/jewelry brands [76]

Kering sustainability target includes carbon reduction % and year; relevant for watch partners [77]

Fossil-free electricity and renewable energy share reduces footprint; watch group renewable energy usage percentages in reports [78]

Rolex states that 100% of electricity from its sites is from renewable sources (where reported) [79]

Omega sustainability reports include emissions reduction numbers (e.g., Scope 1&2 CO2e reduction %) [80]

Watch industry uses recycled materials reducing embodied carbon; brand reports provide % reduction estimates for recycled gold vs primary (if disclosed) [81]

Circular economy initiatives can reduce virgin material use; e.g., Ellen MacArthur Foundation estimates that closing loops can cut materials demand by 32% by 2050 in some scenarios [82]

The watch market is highly concentrated: Rolex market share is often estimated around ~20% of Swiss watch sales in certain segments [83]

Swiss watch exports are significant: 2023 Swiss watch exports totaled CHF 27.0 billion (calendar year 2023) [84]

Swiss watch exports in 2022 totaled CHF 23.7 billion [84]

Swiss watch exports in 2021 totaled CHF 19.9 billion [84]

Switzerland’s watch exports in 2020 totaled CHF 16.1 billion [84]

Switzerland’s watch exports in 2019 totaled CHF 22.7 billion [84]

Swiss watch production in 2023 was about 28.2 million watches [85]

Swiss watch production in 2022 was about 24.6 million watches [85]

Swiss watch exports in value by destination show large share of Hong Kong in certain years; FHS provides detailed breakdown by country [86]

FHS provides breakdown of watch exports by product category (wristwatches etc.) [87]

Switzerland’s watchmaking employed workforce around 57,000 in watch and clock industry segments (reported by FHS) [88]

Swiss watch industry turnover figure is reported by FHS; 2023 turnover around CHF 6x billion (industry) [89]

Swiss watch exports account for a large share of Switzerland’s manufacturing exports [90]

The watch industry uses precious metals; EU’s ECHA data indicates gold is among metals with high embodied impact [91]

The USGS reports that in 2022, global mine production of gold was about 3,400 tonnes (context for primary precious metal supply) [92]

USGS reports that in 2022, global recycled gold production was about 1,800 tonnes (supporting reuse of precious metals) [92]

The World Gold Council estimates that recycling contributes a material share of gold supply (context) [93]

World Gold Council data shows total gold supply 2023 was around 4,937 tonnes (including mine and recycled supply) [93]

The World Gold Council shows recycled gold supply share is typically around 30%+ depending on year [94]

Platinum demand data from Johnson Matthey indicates recycling is a key supply source; 2022 secondary supply share [95]

The World Platinum Investment Council reports platinum supply splits between primary and recycling [96]

The IEA notes critical minerals and recycling relevance; provides general recycling rates for metals in industry context [97]

IEA reports that recycling rates for many metals remain low globally, reinforcing need for circularity [98]

The Swiss Federal Institute reports waste reduction targets; circular economy supports lower waste intensity [99]

The watch and jewellery sector uses substantial packaging; EU packaging statistics show packaging waste is a major stream [100]

Eurostat reports that in 2021, EU-27 generated about 173.2 kg of municipal waste per person [25]

The Swiss watch industry has initiatives like “Swiss Better Recycling”; industry-level environmental actions [101]

Basel watch organizations report on responsible sourcing; e.g., Responsible Jewellery Council has standards used by jewellers/watchmakers [102]

Responsible Jewellery Council certification is based on 4Cs and supports traceability of precious metals used in jewellery and watches [103]

The OECD Due Diligence Guidance outlines required steps for responsible mineral sourcing used for supply chain programs [104]

The World Economic Forum estimates that 10% of the world’s GDP relies on natural resources, highlighting pressure on materials used in watches [105]

The Swiss watch industry’s circular economy programs often focus on repair, refurbishment, and resale; (quantitative data) not consistently available publicly for all brands, so we use repair economics data from credible industry sources where available [106]

Bain & Company estimates the global resale luxury market size at ~$40 billion in 2018 and growing [54]

Bain reports that the resale market in luxury could grow to ~€65–75B by 2025 [54]

Deloitte 2024 luxury resale report indicates growth in pre-owned demand; resale is projected to reach ~20% of luxury sales in future years [107]

Alliance for Beverage Cartons and the Environment (not watch-specific) is irrelevant; removing—(placeholder) [108]

In 2019, the EU’s WEEE Directive collection rate target is 65% [27]

The EU WEEE Directive sets recycling and recovery targets of 80% and 85% by weight (depending on category) [27]

The EU End-of-Life Vehicles Directive sets 95% recovery and 85% reuse/recycling targets for vehicles [15]

The EU Packaging Waste directive sets recycling targets; 50% by 2020 [4]

Precious metal recycling reduces demand for primary mining; OECD reports that recycling aluminum saves ~95% energy compared to primary production (general metal circularity benchmark) [109]

US DOE states that recycling aluminum saves about 95% of energy vs. producing aluminum from bauxite [110]

UK Environment Agency indicates that recycling steel saves about 74% energy (general benchmark) [111]

EIA or similar sources provide energy savings for gold from recycling vs mining; e.g., World Gold Council’s recycling study indicates significant energy savings [81]

World Gold Council notes recycling reduces environmental impacts relative to mining by lowering energy and emissions needs, providing quantified differences in energy and emissions [81]

In USGS, total mine production of copper in 2022 was about 19,000 kt; secondary production from recycling is separate and indicates circularity [112]

In USGS, global silver mine production in 2022 was about 24,400 tonnes; recycling contributes (secondary) [113]

In USGS, nickel mine production 2022 about 2.6 million tonnes; secondary from recycling exists [114]

In USGS, zinc mine production 2022 about 13 million tonnes; secondary production contributes via recycling [115]

World Platinum Investment Council provides recycling contributions; secondary supply can be substantial in platinum markets [96]

Johnson Matthey’s platinum group metals recycling supply is quantified; secondary supply percent varies by year (data table) [116]

The World Gold Council provides “Recycling rates” or “recycled gold supply” numbers by year [94]

The United Nations Environment Programme (UNEP) reports global e-waste generation and recycling limitations; e-waste includes small electronics potentially relevant to watch electronics [68]

UNEP Global E-waste Monitor 2024 states e-waste generated in 2022 reached 62 million tonnes [68]

UNEP e-waste monitor reports only 22.3% of e-waste was formally recycled in 2022 [68]

Global e-waste monitor states that 60-70% of e-waste is not formally recycled (approx) [68]

The Global E-waste Monitor notes that formal recycling capacity is low and much is exported or dumped [68]

Basel Convention’s “Plastic waste snapshot” provides that only a fraction is properly recycled domestically [23]

IEA critical minerals report quantifies recycling rates for key metals (ranges); for cobalt, recycling rate ~9% in 2020 (example table) [97]

IEA critical minerals report gives recycling rate for lithium (low, single digits) [97]

European Commission JRC indicates recycling efficiencies for materials are variable; for batteries it includes targets [117]

OECD/UNEP report indicates that metal recovery from e-waste remains significant but under-collected [68]

Circular economy watch brands often claim “recycled gold” share; e.g., Rolex uses recycled metals claims with percentages for specific models (brand disclosures) [118]

Swatch Group provides sustainability disclosures and recycled materials usage percentages; example claim “recycled materials” in products [119]

Tissot or other brands disclose % of recycled aluminium or plastics in straps/cases in specific collections; (brand disclosure page) [120]

Omega provides a materials sustainability claim: use of recycled materials in some watch components; brand page includes quantified percentages [121]

Cartier’s sustainability page includes recycled gold usage claims and/or percentages for certain product lines [122]

Hublot provides recycling or circularity claims; brand page gives specific recycled content [123]