New York, USA, May 24, 2023 (GLOBE NEWSWIRE) -- Research Dive has published a new report on the India B2B gold jewellery market. According to the report, the market is projected to surpass $29,415.2 million and grow at a CAGR of 3.4% in the estimated period, 2022–2031. This all-inclusive report delivers a comprehensive overview of the current and future situation of the India B2B gold jewellery market by stating its main characteristics including growth drivers, growth opportunities, limitations, and developments in the forecast period. The report also offers all the required and vital market statistics to help new players obtain an insight into the status of the market.
Impact of the COVID-19 Pandemic on the India B2B Gold Jewellery Market
The outburst of the COVID-19 pandemic in 2020 has had an adverse impact on the growth of the India B2B gold jewellery market. During the pandemic, due to the COVID-19 virus's quick spread, governments in several nations throughout the world imposed severe restrictions, enforced nationwide lockdowns, and prohibited travel. Moreover, when the limitations were partially lifted, there was a shortage of trained labour because workers returned to their hometowns out of fear of spreading the coronavirus. These factors significantly hindered the market growth amidst the pandemic.
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Factors Impacting the India B2B Gold Jewellery Market Growth
The key factor boosting the growth of the India B2B gold jewellery market is a significant rise in the need for India B2B gold jewellery due to an increase in gift-exchanging during festivals and a shift in consumer preferences towards holiday gifts for friends and family. Furthermore, the increasing demand for branded jewels, as well as the security of the authenticity and purity of the premium stones and metals used in jewellery, are estimated to unlock lucrative opportunities for market growth in the forecast period. However, the high expense of manufacturing stones and jewellery is anticipated to deter the market’s growth.
The report segments the India B2B gold jewellery market into manufacturers, wearings, product type, and regions.
Unorganized Manufacturers Sub-Segment to Grab a Foremost Share of the Market
The unorganized manufacturers sub-segment of the manufacturer's segment is foreseen to observe leading growth in the forecast period. This growth is mainly because the unorganized sector continues to be a strong influence in rural centres, where many jewellers also serve as moneylenders in their communities.
Bridal Wear Sub-Segment to Witness Rapid Growth
The bridal wear sub-segment of the wearings segment is predicted to grow enormously in the forecast period. This growth is mainly due to a rise in urbanization and fashion upgrades, an increase in disposable income, technical developments, the entry of local players, and a growth in luxury weddings.
Bangles/Bracelets Sub-Segment to Grab a Leading Share of the Market
The bangles/bracelets sub-segment of the product type segment is foreseen to witness leading growth in the forecast period. This growth is mainly because bangles are symbols of feminine appeal in Indian literature.
South India B2B Gold Jewellery Market to Perceive Maximum Growth
The report analyzes the India B2B gold jewellery market across several regions such as the North, South, East, and West. Among these, the South market is projected to observe significant growth during the estimated period. This growth is mostly due to the presence of a large number of excellent creative individuals in this region.
Key Players of the India B2B Gold Jewellery Market
The report states some of the foremost players operating in the India B2B gold jewellery market including
- Alankeetcreations Llp India
- Derewala Industries Ltd
- Essentials Jewellery
- Vivah Creation
- Dwarka Jewelry
- Dws Jewellery Pvt. Ltd.
- Pinkcity Jewel House P.Ltd
- Gurukrupa Gems
- Kapil Jewels & Art
- Nsb Jewels
These players are taking various initiatives such as investing in novel product launches, strategic alliances and collaborations, etc. to obtain a leading edge in the market.
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For instance, in February 2023, Sarafa Bazar India, a B2B jewellery platform online, launched a B2B app to enable jewellers throughout India to network and build their businesses online, and obtained early funding at a valuation of INR 8 crores from a group of angel investors considered to be marquee names in the jewellery sector.
Also, the report provides numerous industry insights such as top strategic initiatives & developments, the novel launch of products, business performance, Porter’s five forces analysis, and SWOT analysis of the foremost players, functioning in the market.
More about India B2B Gold Jewellery Market:
- Unleash the Beauty of Gold: Discover India’s Best B2B Gold Jewelry
- India B2B Gold Jewellery Market to Experience Noteworthy Growth by 2031 with Changing Dynamics in Indian Jewellery
