LONDON--(BUSINESS WIRE)--The imitation jewelry market size is poised to grow at a CAGR of over 7% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
Gold and silver prices have increased substantially over the last decade owing to increase in demand and limited supply. Other factors such as the increase in the consumption of gold and silver jewelry, currency fluctuations, noteworthy depletion of gold and silver resources, supply and demand imbalance, and other economic aspects are contributing to the increase in the price of gold and silver. This is leading to an increase in demand for imitation jewelry which is much more economical and accessible. Moreover, there is a large variety of imitation jewelry that can also be customized to cater to the needs of the rapidly growing fashion-conscious population.
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As per Technavio, the growing adoption of 3D printing will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Imitation Jewelry Market: Growing Adoption of 3D Printing
The applications of 3D printing are expanding substantially across various industries including consumer products. 3D printing is also gaining immense popularity in the manufacture of imitation jewelry models, as the technology aids in manufacturing bespoke jewelry at a lower cost. Although the print quality and jewelry size have a major impact on the printing speed, most 3D printers feature rapid printing options to meet the evolving user requirements. The most commonly featured printing speeds in 3D printers are 40-50 mm/s, 50-100 mm/s, and 100-150 mm/s. The filaments commonly used to manufacture 3D printing technology for imitation jewelry include thermoplastics and polyethylene terephthalate (PET). Hence, with increasing adoption, 3D printing has been identified as an emerging trend in the jewelry market that will gain prominence during the forecast period.
“Other factors such as the increasing popularity of personalization and customization of jewelry, and the surge in sales through online distribution channel will have a significant impact on the growth of the imitation jewelry market value during the forecast period,” says a senior analyst at Technavio.
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Imitation Jewelry Market: Segmentation Analysis
This market research report segments the imitation jewelry market by distribution channel (offline and online channels) and geography (the Americas, APAC, and EMEA).
The APAC region led the market in 2018, followed by Americas and EMEA respectively. The growth of the imitation jewelry market share in APAC can be attributed to factors such as the increase in overall population, rapid urbanization, and growing popularity of imitation jewelry.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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