Canada Watch Market Size, Share, Industry Trends & Forecast 2033

How Changing Consumer Preferences Are Shaping the Canada Watch Market

The watch industry in Canada is undergoing steady transformation as consumer behavior evolves across luxury, fashion, and technology segments. What was once a purely functional accessory has become a blend of craftsmanship, personal identity, and digital utility. From traditional mechanical watches to advanced smart wearables, the industry reflects broader shifts in lifestyle and purchasing habits.

The Canada watch market reached USD 1.56 billion in 2024 and is projected to grow to USD 2.57 billion by 2033, expanding at a CAGR of 5.11% during 2025–2033. This steady growth signals sustained consumer interest, supported by increasing disposable income, diversified fashion preferences, and growing adoption of connected devices.

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A Market Divided by Type: Quartz, Mechanical, and Smart Influence

One of the defining characteristics of the industry is its segmentation by watch type. Quartz watches continue to dominate in volume due to affordability and reliability. Mechanical watches, particularly automatic and hand-wound models, remain highly valued among collectors and luxury buyers who appreciate craftsmanship and heritage.

At the same time, smartwatches have expanded the market rather than replacing traditional models. Consumers increasingly own multiple watches for different purposes — a luxury mechanical watch for formal occasions and a smartwatch for daily fitness tracking and connectivity. Hybrid watches, which combine analog design with smart features, are also gaining popularity among tech-conscious yet style-focused buyers.

Price Segmentation Reflects Diverse Consumer Tastes

The market spans three primary price ranges: low-range, mid-range, and luxury. Entry-level and affordable watches cater to budget-conscious consumers and younger demographics entering the workforce. Mid-range watches have gained momentum as they offer a balance between quality and price, appealing to professionals seeking durability without the premium luxury price tag.

Luxury watches remain a strong driver of value growth. High-end brands continue to attract affluent buyers who view timepieces as status symbols and long-term investments. Limited editions and exclusive collections often sell out quickly, indicating sustained demand in the premium category.

Canada Watch Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country and regional levels for 2025-2033. Our report has categorized the market based on type, price range, distribution channel, and end user.

Type Insights:

• Quartz

• Mechanical

Price Range Insights:

• Low-Range

• Mid-Range

• Luxury

Distribution Channel Insights:

• Online Retail Stores

• Offline Retail Stores

End User Insights:

• Men

• Women

• Unisex

Canada Watch Market Recent News & Developments:

July 2025: Marathon Watch introduced a limited-edition ADANAC Navigator Pilot’s Automatic timepiece to commemorate the 60th anniversary of the Canadian flag. Restricted to just 500 pieces, the model showcases a patriotic red-and-white design, featuring a white dial, red bezel, and matching NATO strap inspired by Canada’s national colors. Built with the brand’s signature military-grade engineering, the watch is crafted to endure demanding environments. It includes a scratch-resistant sapphire crystal, a luminous dial for enhanced visibility, and a bi-directional bezel, making it well-suited for pilots and outdoor explorers. The release serves as a tribute to Canada’s heritage while reflecting Marathon’s longstanding tradition of precision and durability.

Key Growth Drivers

Several structural factors are contributing to market expansion:

• Growing demand for luxury goods as disposable incomes rise

• Increasing smartwatch adoption due to health monitoring features

• Expanding online retail penetration

• Greater emphasis on fashion and personal branding

• Technological innovation in connected devices

Smartwatch functionality such as heart rate monitoring, sleep tracking, and smartphone integration continues to attract younger demographics, while traditional watchmakers focus on craftsmanship and heritage storytelling.

Challenges Facing the Industry

Despite steady growth, the industry faces several challenges. Counterfeit products continue to impact premium brands. Economic fluctuations may influence discretionary spending, especially in the luxury segment. Additionally, rapid innovation cycles in wearable technology require continuous research and development investment.

Balancing heritage craftsmanship with modern digital expectations remains a strategic challenge for traditional manufacturers.

Outlook Through 2033

Looking ahead, the Canada watch market is expected to maintain steady momentum. Growth will likely be supported by continued luxury demand, smartwatch innovation, and expansion of mid-range premium offerings. Sustainability trends, including ethically sourced materials and eco-conscious production, may also influence purchasing decisions.

As consumer preferences continue to evolve, brands that successfully integrate innovation, lifestyle positioning, and digital retail strategies will be best positioned to capture long-term market share.

The industry’s trajectory suggests that watches in Canada will remain both a functional necessity and a meaningful expression of identity — blending tradition with technology in a steadily expanding marketplace.