New York, NY, June 30, 2021 (GLOBE NEWSWIRE) -- Facts and Factors have published a new research report titled “Jewelry Market By Product (Necklace, Earrings, Ring, Bracelet, & Others), By Material (Gold, Diamond, Platinum, And Others), By End-Users (Men & Women), And By Regions – Global & Regional Industry Perspective, Comprehensive Analysis, and Forecasts, 2021 - 2026”.
“According to the recent research report, the demand of global Jewelry Market size & share expected to reach to USD 500 Billion by 2026 from USD 324.60 Billion in 2020, at a compound annual growth rate (CAGR) of 8.5% during the forecast period 2021 to 2026”
Global Jewelry Market: Overview
Jewelry is often considered as a piece of garment that magnifies the visual aesthetic of the wearer significantly. Often, ancient documents and forms of communication depict the human donning a form of apparel rather than clothing which signifies the existence of jewelry in the prehistoric age. The driving forces behind the growth of the global jewelry market can be credited to increased disposable income among consumers and the latest innovation in designs and functionality. Additional factors that can be attributed to the high growth of the global Jewelry market are rapid changes in lifestyle among consumers and a growing trend of bridal-based jewelry.
Trends pertaining to cross-culture jewelry are expected to drive the market rate towards a ballooned state during the projected forecast. Innovative advertisement campaigns and intricate design will open new revenue streams for the global Jewelry market as they will capture a larger consumer base. Furthermore, raising awareness among consumers for identifying the purity of gemstone and metals utilized in the production of premium Jewelry products will propel the growth of the market significantly.
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Industry Major Market Players
- Tiffany & Co.
- Pandora
- Signet Jewellers,
- H Stern.
- Chow Tai Fook
- Swarovski
- Cartier
- Buccellati
- Harry Winston Inc.
- Chopard
- Rajesh Export Ltd.
- Chanel
- LVMH Moët Hennessy
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Key questions answered in this report:
- What is the projected market size & growth rate of the Jewelry Market?
- What are the key driving factors for the growth of the Jewelry Market?
- What are the top companies operative in Jewelry Market?
- What segments are covered in Jewelry Market?
- How can I get free sample report/company profiles of the Jewelry Market?
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Market Dynamics
The jewelry market is highly competitive with the key players often reconfiguring their business strategies in terms of marketing, campaigning, and designs constantly. Mergers and acquisitions are often taking place in order to swap and combine consumer bases in order to recoup a higher piece of the profits. International Jewelry Design Inc. launched DBW Jewelry (Design, Build, Wear) for the company B2B retail consumers with a fully functioning interactive e-commerce platform. Hong Kong’s Chow Tai Food recently collaborated with Enzo in order to explain their footprint across mainland China.
The global Jewelry market can be divided into necklaces, earrings, rings, bracelets, and others on the basis of product. The ring segment is expected to witness significant growth due to the increasing tendency of religious beliefs, rising consumer interest, innovative and intricate designs, and the notion of rings being significantly stylish and attractive when donned. Furthermore, the rising trend of custom-made rings for celebrating special occasions among consumers will further drive the growth of the market.
The global jewelry market can be broken down into gold, diamond, platinum, and others. The gold segment is expected to witness the largest market share during the forecast owing to rising imports/exports and the fact that gold is often deemed as a hard currency in various parts of the globe. Furthermore, the rising GDP of developing economies will boost the sales of gold-based jewelry among consumers with increased spending powers.
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Global Jewelry Market: Growth Factors
The latest driving force behind the extensive growth of the global jewelry market could be the increase in disposable income among emerging economies and innovations in the design and functionality of the latest iteration of jewelry-based products. The latest innovation coupled with a larger volume-based sale is likely to make it optimal to attract a larger consumer base, thereby encouraging manufacturers to cater to the growing consumer demands. Additional factors include the changing lifestyle, donning of jewelry as a status symbol, and the growing adoption of men-based products will drive the market to occupy a larger footprint during the forecast period. Moreover, the trend of bridal jewelry is anticipated to open new revenue streams for the global jewelry market.
A rising trend of cross-cultural jewelry is further expected to drive the growth of the market to a larger extent. Increased advertisement budgets and innovative international campaigns will further enable a mixture of jewelry products spread across the globe during the forecast. E-commerce is expected to play a vital role in driving the volumetric sales of the jewelry market during the forecast. Additionally, the improvement in connectivity services and availability of cheap data across the globe further help expand the global jewelry market. Raising awareness about consumers about the quality of gemstones and metals used for the production of premium quality jewelry is expected to propel the growth of the global jewelry market. However, e-commerce fraud and lack of knowledge among hallmark standards and purity of jewelry are expected to hinder the growth of the market to a certain extent.
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Asia-Pacific Will Exhibit Highest Market Share During the Forecast Period
Asia-Pacific is expected to witness the largest market share with recent trends indicating the region to occupy more than 60% of the global market cap over the forecast period. The presence of key players in the regions coupled with the two most populous countries – China & India will drive the growth of the global Jewelry market during the forecast. Availability of quality and premium products and increased demands from consumers will further propel the growth of the market. The region of the Middle East & Africa is expected to occupy a large market share during the forecast owing to intricate designs and the presence of gold mines across the region.
Browse the full report “Jewelry Market: By Product (Necklace, Earrings, Ring, Bracelet, & Others), By Material (Gold, Diamond, Platinum, And Others), By End-Users (Men & Women), And By Regions – Global & Regional I Industry Perspective, Comprehensive Analysis, and Forecasts, 2021 – 2026” at https://www.fnfresearch.com/jewelry-market
The global Jewelry market can be segmented as:
Global Jewelry Market: By Product Segment Analysis
- Necklace
- Earrings
- Ring
- Bracelet
- Others
Global Jewelry Market: By Material Segment Analysis
- Gold
- Platinum
- Diamond
- Others
Global Jewelry Market: By End-Users Segment Analysis
- Men
- Women
Key Highlights of this Report:
- Statistically Validated Analysis of Historical, Current, and Projected Industry Trends with Authenticated Market Sizes Information and Data in terms of Value and Volume, wherever applicable
- Detailed List of Key Buyers and End-Users (Consumers) analyzed as per Regions and Applications
- Overview of Key Marketing Strategies and Key Sales Channels Adopted in the Market
- Market Attractiveness Analysis and Key Investment Opportunity Analysis in the Market going forward
- Direct and Indirect Factors that Impacted the Industry as well Projected Rationales expected to affect the industry going forward
- Historical and Projected Company / Vendor / OEM / Supplier Market Shares, Competitive Landscape, and Player Positioning Data
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