Costume Jewelry Market Size, Global Industry Trend Analysis 2020, & Forecast 2021-2026 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Global Costume Jewelry Market


The global Costume Jewelry market size is projected to reach US$ 41.71 billion by 2026, from US$ 28.58 billion in 2020, at a CAGR of 6.5% during 2021-2026. Changing lifestyle, increasing fashion consciousness, and growing disposable income are some of the factors likely to boost the market growth in the forecast period.

Furthermore, increasing demand for the product due to growing working population is propelling the market demand in recent times. Increasing number of manufacturers has brought a lot of affordable options thus, increasing popularity among the youth, corporate people, and working women. This has led to an increase in demand for the product in the last five years. Frequent price change in gold and silver has also been a prominent factor for the rise in demand for the product.

For instance, the price of gold has increased by an average of 11.5% annually in India. It is difficult for the economic class to purchase gold in countries such as India, where there is a high preference for wearing jewelry items. Thus, demand for costume jewelry has boosted up in the region, thereby influencing the overall market demand in the near future. These factors are anticipated to fuel the costume jewelry market growth in the forecast period.

Growing e-commerce and internet penetration in rural as well as urban areas have also impacted the demand for cosmetics in the recent time. For instance, the online sale of jewelry items has witnessed a growth of 15.0% in the last few years. Thus, the market demand for the product has also surged due to increasing internet penetration in the last few years. Furthermore, rising demand for the product in the men segment has fueled the market growth in the forecast period.
However, increasing raw material price and FAD products in the market can restrain the growth in the near future. Industry has witnessed a sudden steep in the price of the product due to unorganized supply chain in the market. These factors can hamper the market growth in the stipulated time frame. Although, increasing online platforms and trusted sellers are opening a new opportunity for the market players, thereby driving the market to the positive side.

Market Segmentation, Outlook & Viewpoint: Global Costume Jewelry Market

Distribution Channel Market Segmentation & Outlook (Revenue, USD Billion, 2014 - 2025)

  
Online Stores
  
Offline Stores

Type Market Segmentation & Outlook (Revenue, USD Billion, 2014 - 2025)

  
Necklace/Chain
  
Ring
  
Bracelet
  
Earrings
  
Others

End User Market Segmentation & Outlook (Revenue, USD Billion, 2014 - 2025)

  
Men
  
Women

Key Players, Recent Developments & Regional Insights: Global Costume Jewelry Market

On the basis of end user, the costume jewelry market is segmented into men and women. The women segment held the largest share of 59.0% in 2018. The key reason for the segment growth is usage of different varieties of jewelry for different occasions. Jewelry is very important for female users as it highlights their outfit and makes it look better. Increasing price of different materials such as gold and diamond has shifted the focus of many women towards costume jewelry, which can be easily replaced as per the dress and occasion without investing much. Growing trend of luxury jewelry among corporate women for their day to day looks is also likely to drive the segment in the forecast period.

Distribution Channel Insights

On the basis of distribution channel, the market is further divided into online stores and offline stores. The offline store segment dominated the market and accounted for 74.4% share of the total revenue in 2018. The traditional way of shopping has dominated the market due to availability of a wide variety of products and bargaining features. In the product category of jewelry, consumers prefer to visit offline stores in order to get their product customized as per their preferences.

The online segment is expected to expand at the fastest CAGR of 7.1% in the forecast period. Growing usage and penetration of internet in the rural market has been the key factor for the segment growth. Introduction of online trusted dealers and hectic schedule of young consumers are also driving the market to the positive side.

Type Insights

The ring segment dominated the market and accounted for 33.6% share of the overall revenue in 2018. Increasing demand for rings, particularly in countries such as India, due to high demand for various gems is driving the market in the forecast period. The ring does not require much customization and has general designs for men. Increasing demand for the product among men is expected to fuel the segment growth in the coming years. The fact that ring is the least costing jewelry and widely accepted is also fueling the market growth with time.

The earring segment is expected to expand at a CAGR of 6.9% in the forecast period. Increasing popularity of the product among the youth especially working women is propelling the demand for the segment in the near future. Introduction of a wide variety of designs of the product and the trend of changing jewelry on a daily basis are some of the prominent factors for the market growth. In countries such as India, the earrings are widely accepted by women of all age group, thus the demand of the product is high in the region influencing the overall market growth of the segment.

Regional Insights

In 2018, Asia Pacific led the market with a share of 35.0% and is anticipated to expand at a significant CAGR in the near future. In Asia Pacific, India contributes to the majority of share and is expected to register a CAGR of 6.2% over the forecast period. A wide variety of the products, along with huge acceptance among all the age groups, is a key factor for the market growth in the region.

Europe is expected to expand at the fastest CAGR of 8.0% in the forecast period. Europe being the fashion capital and acceptance of traditional jewelry are the key factors driving the demand for the product. Various global players such as Bulgari are present in the Europe market are introducing various new designs for the customers, thus influencing the market growth in the region.

Costume Jewelry Market Share Insights

Louis Vuitton, Cartier, Sabika, Silgan Azuli Skye, Premier Designs, Yanbal, Park Lane, Silpada, Stella & Dot, and Lulu Avenue are some of the major market players in the industry. The market presents medium to high entry barriers due to presence of leading market players and the set-up cost involved in it. The main goal of the manufacturer is to engage its customers with new designs and affordable prices. Giants present in the same region such as LMVH and Kering Richemont in the Europe market are planning to merge and serve the customers in the near future.

Key Insights Covered: Global Costume Jewelry Market

1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Costume Jewelry industry.
2. Global major manufacturers operating situation (sales, revenue, growth rate and gross margin) of Costume Jewelry industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Costume Jewelry industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Costume Jewelry industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Costume Jewelry industry.

Research Methodology: Global Costume Jewelry Market

  
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
  
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
  
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other