New York, United States , April 03, 2024 (GLOBE NEWSWIRE) -- The Global Costume Jewelry Market Size is to Grow from USD 44.10 Billion in 2023 to USD 87.59 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 7.10% during projected period.
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Costume jewelry is a type of fashion item utilized to complement an outfit. Costume jewelry is created from less expensive materials than more expensive ones, such as diamonds, gold, platinum, gemstones, and pearls. Costume jewelry is sometimes known as imitation, trinkets, phony, or fashion jewelry. It comes in several shapes, such as bangles, finger rings, earrings, and neckpieces, giving clients a wide range of choices for their desired items. Metals, glass, beads, plastic, synthetic stones, ivory, and semi-precious stones are among the elements used to create costume jewelry. Costume jewelry is made from basic elements such as pins, backings, and metal. The global costume jewelry market is growing due to its convenience, affordability, and personal style. Increased volume sales and e-commerce growth are contributing to the industry's growth. Younger women are increasingly conscious of fashion, leading to a demand for affordable, stylish jewelry. The global costume jewelry market is growing due to its convenience, affordability, and personal style. Strong ads and celebrity endorsements also contribute to its expansion. However, the rising cost of raw materials and limited popularity of costume jewelry, coupled with urbanization, youth fashion consciousness, and demand for innovative products, hinder market growth. Hence, these factors may impede the market growth of the global costume jewelry market during the forecast period.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the "Global Costume Jewelry Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Necklaces & Chains, Earrings, Rings, Cufflinks & Studs, Bracelets, Others), By Gender (Male, Female), By Distribution Channel (Offline Stores, Online Stores), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The necklaces & chains segment is anticipated to hold the greatest share of the global costume jewelry market during the projected timeframe.
On the basis of product type, the global costume jewelry market is divided into necklaces & chains, earrings, rings, cufflinks and studs, bracelets, and others. Among these, the necklaces & chains segment is anticipated to hold the greatest share of the global costume jewelry market during the projected timeframe. The growth can be attributed to growth of the necklaces and chains market is attributed to rising purchasing power, delicate necklace designs, changing styles, and increased fashion consciousness among urbanites.
The female segment is anticipated to hold the greatest share of the global costume jewelry market during the projected timeframe.
On the basis of gender, the global costume jewelry market is divided into male and female. Among these, the female segment is anticipated to hold the greatest share of the global costume jewelry market during the projected timeframe. The segmental growth can be attributed to the Female customers consume slightly more jewelry in the costume jewelry sector.
The offline stores segment is predicted to hold the greatest share of the global costume jewelry market during the estimated period.
On the basis of distribution channel, the global costume jewelry market is divided into offline stores and online stores. Among these, the offline stores segment is predicted to hold the greatest share of the global costume jewelry market during the estimated period. The segmental growth can be attributed to the offline and department stores are popular for purchasing costume jewelry, especially among older customers who prefer a real shopping experience and can examine and try on the jewelry before purchasing.
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North America is expected to hold the largest share of the global costume jewelry market over the forecast period.
North America is expected to hold the largest share of the global costume jewelry market over the forecast period. The growing demand for designer and trendy jewelry has boosted sales in developing countries. Affordability, concern for one's looks, and a desire for highly trendy and uncommon pieces all contribute to costume jewelry's popularity. Retail structure and costume jewelry acceptance have increased as a result of aggressive promotion and celebrity brand endorsement. Costume jewelry is becoming increasingly popular in this region as consumers pay more money for trendy accessories. Jewelry composed of gold and silver is growing more expensive. Bracelets, rings, necklaces, and chains are expected to gain popularity as e-commerce and social media usage increases in the regions.
Asia-Pacific is predicted to grow at the fastest pace in the global costume jewelry market during the projected timeframe. The region's growth can be attributed to the customers must maintain their image consciousness in many Asia-Pacific countries, which are influenced by beauty shows, television programs, and publications. Increased urbanization, a growing middle-class population, shifting lifestyle preferences, and an expansion in e-commerce platforms all contribute to the region's growth.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global costume jewelry market include Giorgio Armani S.p.A., Yurman Design Inc., GBL Altair Pvt. Ltd., LVMH Group, Colibri Group, Compagnie Financière Richemont SA, Stuller, Inc., Anuradha Art Jewellery, Buckley London, GlobalBees Brands Pvt. Ltd., Channel S.A., Avon Products, Inc., DCK Group, Randa Accessories, H.Stern Jewelers, Inc., Others.
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Recent Developments
- In December 2022, Melorra, a prominent direct-to-consumer (D2C) company that produces lightweight and moderately priced fashionable gold jewelry, launched the first-of-its-kind The avatar-inspired jewelry line celebrates modernity while demonstrating a trend in various facets of the jewelry companies.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global costume jewelry market based on the below-mentioned segments:
Global Costume Jewelry Market, By Product Type
- Necklaces & Chains
- Earrings
- Rings
- Cufflinks & Studs
- Bracelets
- Others
Global Costume Jewelry Market, By Gender
- Male
- Female
Global Costume Jewelry Market, By Distribution Channel
- Offline Stores
- Online Stores
Global Costume Jewelry Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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