Custom jewelry comprises fashion accessories used to compliment an outfit. This type of jewelry is made of less precious materials as compared to precious materials such as gold, diamond, and gems. The raw materials used for making costume jewelry includes glass, plastic, semi-precious stones, beads, leather, aluminum, and brass. Increase inconsumer preference for fashionable and affordable jewelry is expected to foster the growth of the global costume jewelry market.
Factors that strengthen the growth of this market include change in lifestyle, a rise in disposable income, increase in prices of precious metal jewelry, a rise in fashion consciousness, and change in packaging styles & attractive marketing strategies. However, factors hindering market growth are surge in prices of raw material used for costume jewelry and limited period popularity of the jewelry. Conversely, increase in urbanization, innovations in designs, and surge in demand for costume jewelry for men offer potential opportunities for manufacturers to innovate and develop new products according to consumer preferences.
Presently, the global costume jewelry market has witnessed a balanced growth, and is anticipated to grow with a steady CAGR during the forecast period. There has been a considerable rise in disposable incomes over the past decade. Growth in global economies, changes in lifestyle, and rise in demandfor a variety of stone &semi-precious crafted jewelry due to varying cultures encouragethe growth of the global market.
North America and Asia-Pacific are the prominent markets for costume & imitation jewelry. The North American costume jewelry market is expected to grow at a CAGR of 7.10% by 2027.
In 2019, the necklaces & chains and bracelets segments held a combined share of 41.4% in global costume jewelry market, as these jewelries witness increased demand across the globe. The mode of sale comprises retail and online sale, where retail mode is further classified into brand outlets, boutiques, multi-brand stores, and specialty stores. Customers majorly prefer the retail mode of sale while buying jewelry. However, online medium for the purchase of costume and imitation jewelry is observed to be a rising trend among them. The online sales channel segment is expected to grow at the highest CAGR of 8.90% during the forecast period, due to rise in penetration of internet across the globe. North America is expected to dominate the global market during the analysis
period,owing to the presence of a large number of established manufacturers of costume jewelry in the U.S. and Canada. In addition, the U.S. is the largest importer of costume jewelry, globally. The market in Asia-Pacific is expected to grow at a significant rate, due to increase in number of high net worth individuals and rise in prices of gold, silver, and platinum jewelries.
The global costume jewelry market is segmented into product type, gender, mode of sale and region. On the basis of product type, the market is segregated into necklaces & chains, earrings, rings, cufflinks & studs, bracelets, and others. By gender, the market is segmented into male and female. Depending onmode of sale, it is fragmented into retail sale and online sale. The market is analyzed across four regions, which include North America, Europe, Asia-Pacific, and LAMEA.
Key players profiled in the report are Avon Products, Inc., Buckley London, Compagnie Financière Richemont SA, DCK Group, Giorgio Armani S.p.A., H.Stern Jewelers, Inc., LVMH Group, Randa Accessories, Stuller, Inc., and Yurman Design Inc.
The other players operating in the global costume jewelry market are The Colibri Group, Channel S.A., Gianni Versace S.p.A., Gucci Group NV, Swarovski Group, PANDORA A/S, H & M Hennes & Mauritz AB, Zara, PRADA, Swank, Inc., Cartier, Billig Jewelers, Inc., and BaubleBar Inc.
KEY BENEFITS FOR STAKEHOLDERS
KEY MARKET SEGMENTATION
By Product Type
By Gender
By Mode of Sale
By Region
Factors that strengthen the growth of this market include change in lifestyle, a rise in disposable income, increase in prices of precious metal jewelry, a rise in fashion consciousness, and change in packaging styles & attractive marketing strategies. However, factors hindering market growth are surge in prices of raw material used for costume jewelry and limited period popularity of the jewelry. Conversely, increase in urbanization, innovations in designs, and surge in demand for costume jewelry for men offer potential opportunities for manufacturers to innovate and develop new products according to consumer preferences.
Presently, the global costume jewelry market has witnessed a balanced growth, and is anticipated to grow with a steady CAGR during the forecast period. There has been a considerable rise in disposable incomes over the past decade. Growth in global economies, changes in lifestyle, and rise in demandfor a variety of stone &semi-precious crafted jewelry due to varying cultures encouragethe growth of the global market.
North America and Asia-Pacific are the prominent markets for costume & imitation jewelry. The North American costume jewelry market is expected to grow at a CAGR of 7.10% by 2027.
In 2019, the necklaces & chains and bracelets segments held a combined share of 41.4% in global costume jewelry market, as these jewelries witness increased demand across the globe. The mode of sale comprises retail and online sale, where retail mode is further classified into brand outlets, boutiques, multi-brand stores, and specialty stores. Customers majorly prefer the retail mode of sale while buying jewelry. However, online medium for the purchase of costume and imitation jewelry is observed to be a rising trend among them. The online sales channel segment is expected to grow at the highest CAGR of 8.90% during the forecast period, due to rise in penetration of internet across the globe. North America is expected to dominate the global market during the analysis
period,owing to the presence of a large number of established manufacturers of costume jewelry in the U.S. and Canada. In addition, the U.S. is the largest importer of costume jewelry, globally. The market in Asia-Pacific is expected to grow at a significant rate, due to increase in number of high net worth individuals and rise in prices of gold, silver, and platinum jewelries.
The global costume jewelry market is segmented into product type, gender, mode of sale and region. On the basis of product type, the market is segregated into necklaces & chains, earrings, rings, cufflinks & studs, bracelets, and others. By gender, the market is segmented into male and female. Depending onmode of sale, it is fragmented into retail sale and online sale. The market is analyzed across four regions, which include North America, Europe, Asia-Pacific, and LAMEA.
Key players profiled in the report are Avon Products, Inc., Buckley London, Compagnie Financière Richemont SA, DCK Group, Giorgio Armani S.p.A., H.Stern Jewelers, Inc., LVMH Group, Randa Accessories, Stuller, Inc., and Yurman Design Inc.
The other players operating in the global costume jewelry market are The Colibri Group, Channel S.A., Gianni Versace S.p.A., Gucci Group NV, Swarovski Group, PANDORA A/S, H & M Hennes & Mauritz AB, Zara, PRADA, Swank, Inc., Cartier, Billig Jewelers, Inc., and BaubleBar Inc.
KEY BENEFITS FOR STAKEHOLDERS
- 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 jewelrymarket 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 jewelryindustry.
KEY MARKET SEGMENTATION
By Product Type
- Necklaces & Chains
- Earrings
- Rings
- Cufflinks & studs
- Bracelets
- Others
By Gender
- Male
- Female
By Mode of Sale
- Retail Sale
- Online Sale
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Italy
- France
- Germany
- Netherlands
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- Singapore
- India
- Australia
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Table of Contents
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Overvie
Chapter 4: Costume Jewelry Market, by Product Type
Chapter 5: Costume Jewelry Market, by Gender
Chapter 6: Costume Jewelry Market, by Mode of Sale
Chapter 7: Costume Jewelry Market, by Region
Chapter 8: Competitive Landscape
Chapter 9: Company Profiles
Executive Summary
According to the report titled, 'Costume Jewelry Market by Product Type, Gender, and Mode of Sale: Opportunity Analysis and Industry Forecast, 2020-2027', 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 duringthe 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 boostt he 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 segments the global costume jewelry market into product type, gender, mode of sale, and region. On the basis of product type, the market is divided into necklaces & chains, earrings, rings, cufflinks & studs, bracelets, and others. Depending on gender, itis segmented into male and female. By mode of sale, it is segmented as retail sale and online sale. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
On the basis of costume jewelry market analysis, in 2019, the necklaces & chains and bracelets segments helda combined share of 41.4% in global costume jewelry market. This is attributed to rise in female as well as male fashion-conscious consumers across the globe.
According to the costume jewelry market analysis,thefemale gender segment generated the highest revenue in 2019, and is expected to remain dominant throughout the forecast period. This is attributed to rise in influence of customized jewelries among female consumers. However, the male gender segment is expected to grow at the highest CAGR throughout the forecast period, due to surge in number of metrosexual men, increase in acceptance for men’s jewelry, and rise in celebrity culture, with influencers such as Bollywood and Hollywood actors.
In 2019, retail sale was the most prominent segment accounting for maximum share in the global market. This is attributed to the beneficial options such as discounts and trial before purchase as well as the benefit of immediate gratification offered by the retail sales channel. However, the online sale segment is expected to witness the highest growth, owing to increase inpenetration of internet and online shopping.
By the costume jewelry market analysis, North America accounted for the maximum share in the global market in 2019, and is expected to remain dominant during the forecast period, owing to increase in expenditure of consumers on fashion accessories. Moreover, celebrity brand endorsements help push sales in this region.However, China is expected to grow with the highest CAGR throughout the forecast period, owing to changes in the buying behavior of people in this region due to increase in disposable income.
Key findings of the study
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 the one-third of the global costume jewelry market share.
Key players profiled in the report are Avon Products, Inc., Buckley London, Compagnie Financière Richemont SA, DCK Group, Giorgio Armani S.p.A., H.Stern Jewelers, Inc., LVMH Group, Randa Accessories, Stuller, Inc., and Yurman Design Inc.
The other players operating in the global costume jewelry market are The Colibri Group, Channel S.A., Gianni Versace S.p.A., Gucci Group NV, Swarovski Group, PANDORA A/S, H & M Hennes & Mauritz AB, Zara, PRADA, Swank, Inc., Cartier, Billig Jewelers, Inc., and BaubleBar Inc.
Companies Mentioned
- The Colibri Group
- Channel S.A.
- Gianni Versace S.p.A.
- Gucci Group NV
- Swarovski Group
- PANDORA A/S
- H & M Hennes & Mauritz AB
- Zara
- PRADA
- Swank Inc.
- Cartier
- Billig Jewelers Inc.
- BaubleBar Inc
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
LOADING...
