Pearls have been put into use in various objects such as jewelry, and apparels since ancient times as they depict richness, happiness, beauty, and wealth. Plastic pearl is a kind of imitation pearl and is much cheaper in comparison to original pearls. These plastic pearls are widely used in clothes, jewelry, accessories, and decorations to beautify the object or place with their shimmer. The rise in demand for plastic pearls is driven by the increase in trend of pearled objects and accessories, ease in availability, and affordability. Thus the market for plastic pearls is expected to experience growth in the coming years.
COVID-19 Scenario Analysis:
Production shut down scenario
The manufacturing of plastic pearls and industries involving their application has been abruptly ceased owing to the implications of COVID-19. This has declined the production and hence sale of the products, impacting revenue for the industry.
Lack of exports hampering the global market
The global plastic pearl market dealt with importing and exporting the plastic pearls across many regions. Amid lockdown prevailing across the world, this transportation of products is not taking place that is adversely affecting the market for the same.
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
Upsurge in application of pearls in jewelry, clothes, and accessories has led to a rise in demand for the production of plastic pearls in the market. Plastic pearls can be equally situated at the place of original or natural pearls, as they look exactly the same and are also affordable. Pearls have been considered as a beautification object and this attracts the consumer base toward the same. However, the natural pearls are expensive and not every segment of the consumers is capable of buying, the plastic pearl industry emerges as a one stop solution for attractive looks at an affordable price.
The global plastic pearl market trends are as follows:
New product launches to flourish the market
Pearls have been symbolic of wealth, purity, and richness since the ancient times because of their rare availability and qualitative value. Imitation of products has always been a trend in the market where exactly the similar looking products are manufactured with using different substitutes. This enables the manufactures to offer a competent imitation in the market at a lower price.
The extremely high price of natural pearls contracted the market affordability but not the willingness to purchase. The inclination of consumer preferences towards pearl jewelries intrigued the manufactures to come up with the concept of plastic pearls. These pearls are made from plastic and other materials that make them look alike the natural pearls and are relatively lesser in price. This drives the consumer base towards the market as pear jewelry at affordable price seems like a dream come true. Along with this, the jewelry industry has witnessed growing inclination of customers towards artificial jewelry owing to its quality, price and low maintenance. This boosts the growth of the plastic pearls market.
Surge in usage in clothing and apparels
Plastic pearl has been widely used in clothing and dress material to enhance the beauty of the clothing and give it a different look. A lot of designer dresses, especially designed for occasions are piled up with pearl work all over that adds on to the quality and look of the same. This boosts the demand for plastic pearls.
Apart from clothes, apparels, and accessories such as watches, wrist bands, bags, and shoes are coming up with pearl usage. The decorations of venues involve the application of lustrous plastic pearls, with many decorative items such as home decors, pearl string curtains, and others. This boosts the growth of the plastic pearl industry.
Key Benefits of the Report:
- This study presents the analytical depiction of the global plastic pearl industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global plastic pearl market share.
- The current market is quantitatively analyzed to highlight the global plastic pearl market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global plastic pearl market analysis based on competitive intensity and how the competition will take shape in the coming years.
Questions Answered in the Plastic Pearl Market Research Report:
- What are the leading market players active in the plastic pearl market?
- What the current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What future projections would help in taking further strategic steps?
Plastic Pearl Market Report Highlights
By Distribution Channel
Key Market Players
Simon&Simon, SYANG, Love Lee, Royal Pearl, Tast Cheng(TC), Neha Imitation, Dilkush Manufacturers, RB Trade, CHENZHUXI