The global Costume Jewelry Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.
Market Overview:
The global costume jewelry market is estimated to reach USD 39.2 billion, by 2025, expanding at a CAGR of 6.5% from 2019 to 2025, according to a new report by Million Insights. The rising population of working women individuals, increasing fashion trends, and increasing disposable income are the key factors that are expected to propel the market growth.
Key Players:
- Louis Vuitton
- Cartier
- Sabika
- Azuli Skye
- Premier Designs
- Yanbal
- Park lane
- Silpada
- Stella & Dot
- Lulu Avenue
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Growth Drivers:
Furthermore, the growing interest of working individuals towards jewelry products is expected to boost the market growth. These products also available at affordable price rates and have demand from working women, youth, and corporate people. This trend is anticipated to propel the product demand in the coming few tears. Additionally, continuous price variations in silver and gold is a key factor driving the market growth.
Type Outlook:
- Necklace/Chain
- Ring
- Bracelet
- Earring
In 2018, the ring-type accounted for the largest market share of 33.6% in the overall market. Owing to the rising demand of different gems, rings demand is projected to increase especially in countries such as India in the next few years.
Earring jewelry products are projected to grow at the CAGR of 6.9% from, 2019 to 2025. The growing popularity among the youth population is particularly in women is anticipated to proliferate the product demand in the next few years. In India, there is a huge demand for earrings as they are widely used by all age groups of women which in turn is boosting the market growth.
End User Outlook:
- Men
- Women
Distribution Channel Outlook:
- Online Store
- Offline Store
Based on the distribution channel, the market for costume jewelry is bifurcated into offline stores and online stores. In 2018, offline stores channel held the largest market share of over 74.0% in the overall market. This segment is dominant owing to the availability of wide products under one roof. The consumer also prefers to visit offline stores for personalized product designs.
Online channel is projected to grow at the highest CAGR of 7.1% from, 2019 to 2025. The growing number of internet users across rural and urban areas is a key factor driving the growth of the segment.
Regional Outlook:
The Asia Pacific region held the largest market share of over 35.0%, in 2018 and is also estimated to remain the leading shareholder over the forecast period, 2019 to 2025. In the region, India is projected to grow at a CAGR of 6.2% during the forecasted period. The availability of a wide variety of products for all age groups is a key factor driving the growth of the market.
Europe is projected to grow at the highest CAGR of 8.0% from 2019 to 2025. Europe is known as the fashion capital of the world and rising demand for premium and traditional ornaments in jewelry is a primary factor driving the market growth in the region. Top companies are focusing on designing new innovative designs for their consumers.
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