Jewelry And Silverware Global Market Report 2023

Jewelry and silverware refer to goods that include ornamental items worn for personal decoration, whereas silverware is a class of products that includes everything made of silver in a home, particularly the cutlery and dishes. Jewelry and silverware is used to produce engrave, chase or etch jewelry, novelties or precious metal flatware, stamp coins, cut, slab, tumble, carve, engrave, polish or facet or recut, repolish or reset precious or semiprecious stones.

The main types of jewelry and silverware are jewelry and silverware. Silverware is any metal spoons, knives, forks, and other eating utensils, as well as tableware, dishes, and serving pieces that are made of or coated with silver. It is distributed through various channels such as online stores, specialty stores, hypermarkets, and others. The products are used by men and women.

The global jewelry and silverware market grew from $210.22 billion in 2022 to $224.13 billion in 2023 at a compound annual growth rate (CAGR) of 6.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The jewelry and silverware market is expected to grow to $282.61 billion in 2027 at a CAGR of 6.0%.

The jewelry and silverware market research report is one of a series of new reports that provides jewelry and silverware market statistics, including jewelry and silverware industry global market size, regional shares, competitors with a jewelry and silverware market share, detailed jewelry and silverware market segments, market trends and opportunities, and any further data you may need to thrive in the jewelry and silverware industry. This jewelry and silverware market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Asia-Pacific was the largest region in the jewelry and silverware market in 2022. Western Europe was the second largest region accounting in The jewelry and silverware market. The regions covered in the jewelry and silverware market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the jewelry and silverware market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela and Vietnam.

Jewelry and silverware manufacturers have adopted CAD software due to its finest measurement-providing capability. CAD or computer-aided design software is used by engineers and architects for creating accurate drawings of objects. Using CAD in jewelry making has enabled the manufacturers to easily customize the jewelry with high precision according as per customer requirements. It helps in lowering the manufacturing cost by creating a virtual model and replicating it during manufacturing.

The jewelry and silverware market consists of sales of fine silver, sterling silver, silver-plated jewelry, and silver-filled jewelry. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Major companies in the jewelry and silverware market include Rajesh Exports, Compagnie Financiere Richemont SA, Tiffany & Co., Pandora A/S, Berkshire Hathaway Inc., the swatch group, Christian Dior SE, Kering SA, and James Avery Craftsman Inc.



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