LOS ANGELES, Jan. 29, 2019 (GLOBE NEWSWIRE) -- QY Research has recently published a new report titled, “Global Costume Jewelry Market Insights, Forecast to 2025.” According to this report, the global costume jewelry market is expected to attain the value of US$ 52.4 Bn in the year 2025, registering the healthy CAGR of 7.1% during the projected year. Various jewelry types such as chains, earrings, necklaces, cufflinks, rings, bracelets, studs, and brooches are in great demand across the globe and these products are creating positive impact on the global jewelery market.
Global Costume Jewelry Market: Drivers
The global market for costume jewelry is one of the most profitable markets in consumer goods industry with a lot of future possibilities. The market is flourishing at a rapid speed for a number of reasons. Increasing fashion sense can be counted as one of the primary reasons behind this unprecedented growth. Jewelry has become a fashion statement these days and people are drawn towards it to create individuality and own style statement. The fast pace of urbanization and the growth of corporate culture have their contribution to upsurge the market of global costume jewelry. The fashion industry has acted as a catalyst in increasing the market value of costume jewelry. The sudden inclusion of male fashion is another reason for the market to flourish. The amalgamation of technology and creativity in jewelry industry creating a new fashion and new designs everyday increasing the sell, eventually boosting the market.
There are some other factors as well that matter while considering the scope of growth in this market. The increasing price of silver, gold, other metals, and precious gems have indirectly boosted the global costume jewelry market. Online shopping has become a vital factor as well, for the positive market growth of costume jewelry globally.
Global Market for Costume Jewelry: Forecast by Region
On the basis of regions the global market for costume jewelry is segmented into North America, Asia Pacific, South America, Middle East, Europe and Africa. North America is dominating the market due to increasing fashion sense, particularly among males. The Asia Pacific region is holding the second position due to rapid urbanization, increasing population, a growing number of women in the corporate sector and the teenage population. Middle East, South America, and Africa, on the contrary, is showing a sluggish growth in the global costume jewelry market.
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Global Costume Jewelry: Segmental Analysis
The global costume jewelry market is segmented in products and application. Based on products, the market is segmented into earrings, necklaces, rings, cufflinks, chains, bracelets, and studs. While, on the basis of applications, the market is segmented into retail and online.
Global Costume Jewelry Market: The Key Players
The major players in the global costume jewelry market include- Buckley London, Avon Product Inc., Cartier, Swank Inc., DCK Concessions, LOUIS VUITTON, BaubleBar Inc., Billig Jewelers Inc., Stuller Inc., Giorgio Armani S.p.A, H. Stern Com. & Ind. S.A., The Colibri Group, Yurman Design, Inc., Channel S.A., Gucci Group NV, Gianni Versace S.p.A., PANDORA A/S, Swarovski Group, PRADA, Zara, H & M Hennes & Mauritz AB etc.
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