The global jewelry pad market was valued at $317.3 million in 2020, and is projected reach $577.2 million by 2030, registering a CAGR of 4.3% from 2021 to 2030. The necklace segment led in terms of the jewelry pad market share in 2020, and is expected to retain its dominance during the forecast period.
In recent years, there has been increased demand for imitation jewelry. As a result, manufacturers are altering their product branding and advertising strategies to increase sales. Manufacturing companies have used innovative strategies such as new product launches with natural looking semi-precious stones, bold jewelry designs, and colorful stones engraved in chains that are beautifully packaged to increase the sales of jewelry. As jewelry has become an integral part of people's lives, consumers, particularly women, prefer to use imitation jewelry as it is convenient, inexpensive, and easy to use while traveling or attending social gatherings. The use of copper and brass as raw materials for manufacturing these products, which have no adverse effect on the skin, is a popular strategy used by manufacturers to attract more customers. This has also contributed to an increase in the revenue of companies, thereby translating into increased demand for jewelry pads.
Growing demand for jewelries is also surging the demand for jewelry pads and jewelry boxes in the market. However, some of the most popular materials used for shaping the jewelry box are non-recyclable, with few among them being plastic and wood. In addition, the wood used in the wooden jewelry box is the hardest to recycle. This is attributed to the fact that clean timber can be recycled easily but after it is painted or treated for shaping or carved into a jewelry box, the box usually ends up in the landfills, or repurposed in other ways after usage, which is rarely possible. While overviewing plastic boxes, all the standard approaches of recycling the plastic are applied here. Most of the approaches and programs of recycling have no problem in recycling the plastic of water and food containers, but may have different rules for recycling the jewelry box. If the programs are not enforced stringently particularly in the developing countries toward recycling of the plastic of jewelry boxes, then they are directly sent to the landfills, which is a global environmental concern. Thus, such material poses challenge for the environment, which might negatively impact the market expansion.
The global jewelry pad market is segmented on the basis of product type, material, end user, and region. Based on product type, the market is divided into ear rings, necklace, rings, and others. By material, the market is classified into foam, fabric, and others. Based on end user, it is bifurcated into business to business and business to consumer. Region-wise, the market is also studied across North America, Europe, Asia-Pacific, and LAMEA.
By Product Type
Necklace segment would exhibit the highest CAGR of 4.9% during 2021-2030.
Based on product type, jewelry pads are classified into ear rings, necklace, rings and others. Necklace segment occupies majority of the market, and is expected to grow with the highest CAGR during the forecast period. Rings are the second largest segment and will also grow with a steady CAGR.
Fabric segment would exhibit the highest CAGR of 5.2% during 2021-2030.
On the basis of material, the market is divided into foam, fabric, and others. The foam segment leads in terms of market share while the fabric segment is expected to grow with a higher CAGR during the forecast period. Foam is highly used due to the cushioning effect and better suitability for precious metals.
By End User
Business to Consumer segment would exhibit the highest CAGR of5.2% during 2021-2030.
Depending on end user, the market is divided into business to business and business and consumer. The business to business segment leads the market share; however, the business to consumer segment is expected to grow during the forecast period. As most of the purchasers of jewelry pads are jewelry stores, the business to business segment thus garners higher market share.
Asia-Pacific region would exhibit the highest CAGR of 5.1% during 2021-2030.
The report focuses on the jewelry pad market growth prospects, restraints, and opportunities of the global jewelry pad market. The study provides Porter’s five forces analysis to understand the impact of various factors such as competitive intensity of competitors, bargaining power of suppliers, threat of substitutes, threat of new entrants, and bargaining power of buyers of the jewelry pad market.
Some of the major players profiled in the jewelry pad market analysis include Finer Packaging Ltd, Gunther Mele Limited, Jep Pads Ltd, Jewelry Tray and Pad Company, Kling GmbH, Nile Corp., Stockpak, Westpack A/S, The Jewelry Tray Factory, and JPB Jewelry Box Co. Other prominent players analyzed in the report are Jewelry Tray, Jeteho, RJ Displays, N'ice Packaging, Foraineam, Woodten, and Tinsow.
COVID-19 Impact Analysis
- The jewelry pad industry was negatively impacted by the pandemic, owing to disruption in supply chains
- The COVID-19 pandemic disrupted the sales of jewelry via brick and mortar stores resulting in low demand for jewelry pads.
- However, changing consumer behavior demand for personalized and premium quality products has increased significantly, which is expected to create new market opportunities for the engaged stakeholders in the coming years.
Key Benefits For Stakeholders
- The report provides an extensive analysis of the current and emerging jewelry pad market trends and opportunities.
- The report provides detailed qualitative and quantitative analysis of the current trends and future estimations that help evaluate the prevailing jewelry pad market opportunities in the market.
- The jewelry pad market forecast is offered along with information related to key drivers, restraints, and opportunities.
- The market analysis is conducted by following key product positioning and monitoring the top competitors within the market framework.
- The report provides extensive qualitative insights on the potential and niche segments or regions exhibiting favorable growth.
Jewelry pad market segments
By Product Type
- Ear Rings
By End User
- Business to Business
- Business to Consumer
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Saudi Arabia
- United Arab Emirates
- South Africa
- Rest of LAMEA
Jewelry Pad Market Report Highlights
By PRODUCT TYPE
By END USER
Key Market Players
JEWELRY TRAY & PAD COMPANY, STOCKPAK, GUNTHER MELE LIMITED, WESTPACK A/S, NILE CORP., KLING GMBH, .JPB JEWELRY BOX CO., JEP PADS LTD, THE JEWELRY TRAY FACTORY, FINER PACKAGING LTD
The last few years have witnessed a major increase in popularity of different types and designs of jewelry. Increasing disposable incomes, improving standards of living in developing countries, and increasing adoption of luxury goods in developed countries are the major reasons for the increased adoption of jewelry. The increased adoption and usage of jewelry has inadvertently increased the sale of jewelry pads.
The most commonly used jewelry pads are made from wood or plastic and are lined with a fabric such as velvet or silk. The use of fabric jewelry pads is increasing due to the negative impact of plastic on the environment. Nevertheless, the transition is slow at present; however, it is expected to gain pace with both manufacturers and consumers taking cognizance regarding the negative impact of non-recyclable plastic to the environment.
Nevertheless, the demand for jewelry boxes has gained traction via online sales channels. With increased convenience and ease of selecting options from a myriad of products, the sale of jewelry boxes via online channels is expected to provide new growth avenues for the engaged stakeholders.