Global Costume Jewelry Market
Global Costume Jewelry Market size in 2015 was valued at $25,554 million growing at CAGR of 6.9% to reach $40,631 million by 2022. Costume jewelry market has witness increased adoption owing to factors such as increasing prices of gold, silver & other precious gems jewelry, increasing demand for men costume jewelry and availability of wide variety of designs in costume jewelry.
The costume jewelry market has significantly benefited from the economic growth in the Asia-Pacific and LAMEA regions. Rise in living standards, and growing fashion consciousness are expected to boost the market growth. Presently, costume jewelry are high in demand among corporate people, working women, teenagers, and working population owing to affordability and increasing demand of men costume jewelry.
Advancements in online marketing trends and increase in use of digital media for product marketing are the key factors contributing to the growth of the global costume jewelry industry. Increase in adoption of technologically advanced techniques and colorful stones for artificial jewelry would contribute to the growth of e-commerce websites for imitation jewelries. However, fluctuating raw material prices and strict trade laws are some of the major factors that could hamper the market growth.
The report segments the global costume jewelry market on the basis of product type, gender, mode of sale and geography. Based on the type of the product, the market is categorized into necklaces & chains, rings, earrings, bracelets, cufflinks & studs, and others. Among these products, the necklaces & chains and bracelets segments are majorly in demand and hold a combined share of around 44% in global costume jewelry market. The mode of sale comprises of 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. Online sales channel is expected to grow at the highest CAGR of 7.7% during the forecast period.
Key players profiled in the report are Buckley London, Avon Product Inc., Swank, Inc., Cartier, LOUIS VUITTON, DCK Concessions, Billig Jewelers, Inc., BaubleBar Inc., Giorgio Armani S.p.A, and Stuller, Inc.
The geographical analysis of the global costume jewelry market covers North America, Europe, Asia-Pacific, and LAMEA. Various countries covered under each region are studied and analyzed to identify the major trends demonstrated by these respective regions. North America dominated the market in 2015 in terms of costume & fashion jewelry adoption, followed by Asia-Pacific. Renowned brands such as Tiffany & Co., Guess Inc., and Versace Jewelry have a strong presence in this market. Asia-Pacific and LAMEA have exhibited large potential in the costume jewelry industry to grow owing to the improving economies and changing lifestyles in the countries such as India, Singapore, and China, among others.
Urbanization is one of the important factors that influence the demand for costume jewelry. According to the Department of Economic and Social Affairs, Population Division (2014) of the United Nations, 54% of the worlds population resided in urban areas in 2014, and by 2050, 66% of the worlds population is expected to move to urban areas. North America and Europe are the most urbanized regions with a large consumer base, emerging fashion trends, and corporate lifestyle. The consumer movement towards urban areas is expected to increase the demand for the men and womens costume jewelry market in the coming years.
- Growing online sales
Online sales have evolved as a key source of revenue for many companies. The online sales market is expected to expand enormously in the near future due to rapidly expanding online and mobile user customer bases in emerging markets, increase in m-commerce sales, improving logistics services, and ease in payment options, and the facility to enter into new international markets by major brands. Cosmetic jewelry has registered significant sales through online portals. The e-commerce sales in the Asia-Pacific region are expected to surpass that of North America. This poses huge opportunity for the costume and imitation jewelry market during the forecast period, and fuels the growth of the market in the Asia-Pacific region.
- High prices of gold and silver jewelries
The increase in cost of natural metal ores such as gold, silver, and platinum is shifting the trend of jewelry to costume jewelry. Non-precious metals in such cases are providing effective platform to costume jewelry industries through their flexible properties. In addition, increasing awareness for the conservation of limited resources and availability of affordable replica of precious jewelry items has reduced and replaced the gold jewelry products with artificial jewelry.
US is the largest revenue contributor in the global costume jewelry market followed by Japan and China. Powered by strong demand in North American and Asian countries, the costume jewelry market in both the regions is developing rapidly.
- This report provides an in-depth analysis of the global costume jewelry market to elucidate the potential investment pockets.
- The current trends and future scenarios are outlined to determine the overall market potential and single out profitable trends to gain a stronger foothold in the market.
- This report provides information regarding key drivers, restraints, and opportunities along with their detailed impact analysis.
- Quantitative analysis of the current market trends and future estimations for 20142022 are provided to indicate the financial competency.
- Porters Five Forces Model of the industry illustrate the potency of the buyers and suppliers.
Costume Jewelry Market Key Segments
By Product Type
- Necklaces & Chains
- Cufflinks & studs
- Others (Brooches, pendants, anklets, pins)
By Mode of Sale
- North America
- Rest of Europe
- Rest of Asia-Pacific
- South Africa
Key Market Players
- Avon Product Inc.
- Buckley London
- Swank, Inc.
- LOUIS VUITTON
- DCK Concessions
- Billig Jewelers, Inc.
- BaubleBar Inc.
- Giorgio Armani S.p.A
- Stuller, Inc.
Other Companies Mentioned in the Report
- The Colibri Group
- H. Stern Com. & Ind. S.A.
- Channel S.A.
- Yurman Design, Inc.
- Gianni Versace S.p.A.
- Gucci Group NV
- Swarovski Group
- PANDORA A/S
- H & M Hennes & Mauritz AB