DUBLIN--(BUSINESS WIRE)--The "Costume Jewelry Market by Product Type, Gender and Mode of Sale Global Opportunity Analysis and Industry Forecast, 2020-2027" report has been added to ResearchAndMarkets.com's offering.
According to this report the costume jewelry market size was valued at $32.9 billion in 2019, and is estimated to reach $59.7 billion by 2027, registering a CAGR of 7.80% from 2020 to 2027.
In 2019, the necklaces & chains segment accounted highest share in the global costume jewelry market, and is expected to grow at a CAGR of 7.0% throughout the forecast period. North America is one of the prominent regions in the market that accounted for a size able share in 2019. Custom jewelry consists of fashion accessories, which are used to compliment an outfit. This type of jewelry is made from raw materials, which are less precious materials as compared to precious materials such as gold, diamond, and gems. The raw materials used for making costume jewelry include glass, plastic, semi-precious stones, beads, leather, aluminum, and brass. Increase in consumer preference for fashionable and affordable jewelry is expected to foster the growth of the global costume jewelry market.
The costume jewelry market has witnessed significant growth over the years, and is expected to grow at a steady pace during the forecasted period. This is attributed to various factors such as change in lifestyle, surge in prices of precious metal jewelry, rise in fashion consciousness, and change in packaging styles & attractive marketing strategies. Moreover, rise in interest of female as well as male consumers in costume jewelries due to celebrity endorsement has paved the way for costume jewelry. In addition, increase indisposable income and improvement inliving standards in the emerging countries such as China and India along with rise inaffinity of consumers in emerging economies toward fashion accessories boosts the demand for costume jewelry.
However, availability of low quality and counterfeit products and fluctuations in the prices of raw materials used to make these jewelries restrain the market growth. On the contrary, upsurge indemand for trendy & fashionable jewelries and increase inpopularity of costume jewelry among all generations are anticipated to provide lucrative growth opportunities for the expansion of the costume jewelry industry.
- The report provides a quantitative analysis of the current market trends, estimations, and dynamics of the market size from 2019 to 2027 to identify the prevailing costume jewelry market opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the size and segmentation assists to determinethe prevailing market opportunities.
- The major countries in each region are mapped according to their revenue contribution to the global industry.
- The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the costume jewelry industry.
- The costume jewelry market was valued at $32.9 billion in 2019 and is estimated to reach $59.7 billion by 2027, growing at a CAGR of 7.80% through the forecast period.
- Depending on gender, the male segment would witness the fastest growth, registering a CAGR of 8.20% during the forecast period.
- In 2019, by product type, the necklaces & chains, earrings, and rings segments collectively held the highest share, accounting for more than half of the global market share.
- In 2019, China was the most prominent market in the Asia-Pacific region, and is expected to grow at a significant CAGR throughout the forecast period.
North America was the dominant region in 2019, accounting for more than one-third of the global costume jewelry market share.
- Rapid Urbanization
- Surge in online Sales of Jewelry
- Changes in jewelry Styles and Attractive Marketing Strategies
- Rise in Number of Fashion-Conscious Consumers
- High Prices of Gold and Silver Jewelries
- Import and Trade Laws for Costume Goods
- Less Durability of Costume Jewelry
- Increase in Demand for Artificial Jewelry Products
Inclination Toward Automation
- The Colibri Group
- Channel S.A.
- Gianni Versace S.p.A.
- Gucci Group NV
- Swarovski Group
- PANDORA A/S
- H & M Hennes & Mauritz AB
- Swank Inc.
- Billig Jewelers Inc.
For more information about this report visit https://www.researchandmarkets.com/r/l4p2r8