Global Men’s Jewelry Market Size to Worth USD 71,809.77 Million By 2032 | CAGR Of 8.4% - Report by Polaris Market Research (PMR)

New York, July 11, 2024 (GLOBE NEWSWIRE) -- Market Overview:

The global Men’s Jewelry Market was valued at USD 34,335.96 million in 2023 and is anticipated to grow to USD 71,809.77 million by 2032. From 2024 to 2032, the market is projected to grow at a compound annual growth rate (CAGR) of 8.4%.

Market Introduction:

What is Jewelry for Men Called?

Men's jewelry is a broad category of accessories made to highlight, adorn, and exhibit individual flair. Men's jewelry can range from traditional pieces like watches and rings to more modern pieces like necklaces and bracelets, making a fashion statement and lending a unique touch to any ensemble. A variety of metals, such as gold, silver, platinum, diamond, steel, tungsten, and forged carbon, can be carved into pieces of jewellery for men. It might also include leather, gemstones, beads, or other metals.

Also, men's jewelry not only improves appearance but frequently has a symbolic meaning that relates to one's cultural background or significant life events. Men's jewelry is available in a wide range of styles to go with any outfit or event, whether purchased online or in person.

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Report Highlights:

• The industry is expected to develop as a result of several major trends, such as the increasing awareness of fashion, the adaptability of design, and the evolving societal representation of masculine masculinity.
• The men’s jewelry market segmentation is mainly based on the type, product, age, distribution channel, category, and region.
• The Asia Pacific region emerged as the dominant region in 2023 and is expected to maintain its dominance over the projected period at a strong compound annual growth rate.

Market’s Key Companies:

• Buccellati (Compagnie Financière Richemont SA)
• Cartier (Compagnie Financière Richemont SA)
• Clocks + Colours
• Completedworks
• Hatton Labs
• John Hardy
• Malabar Gold & Diamonds
• PANDORA JEWELRY LLC
• Spinelli Kilcollin
• T&CO. (LVMH Moët Hennessy Louis Vuitton SE)
• Titan Company

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Men’s Jewelry Market Scope and Insights:

Men’s Jewelry Market Dynamics:

Growth Factors:

• Increased Disposable Income: People's growing disposable income significantly influences the market for men's jewelry. Disposable income has also influenced a number of other aspects, such as spending on luxury and high-quality goods, greater confidence and self-expression, altering priorities, and rising investment possibilities.
• Rising Interest in Fashion and Accessories: Men are becoming more and more interested in accessories and fashion to improve their appearance in public settings, including parties, workplaces, and outdoor leisure areas, among other settings, boosting the men’s jewelry market demand.

Trends:

• Wide Range of Products: Fashion brands are providing a plethora of options for men's accessories, such as chains, necklaces, rings, and bracelets. Men are also becoming more interested in chains, stacked necklaces, and pendants with personal engravings or religious symbols, which is helping to drive the expansion of the men's jewelry market growth.
• Flexibility in Budgets: Individuals with disposable income possess greater financial flexibility to allocate dollars for non-essential products like jewellery. Men's jewelry is growing in popularity because it's seen as an emotional investment that may be used to express personal style, mark significant occasions, or treat oneself to a luxury purchase.

Restraints:

• Fluctuating Raw Material Prices and Limited Product Availability: Jewelry is inherently costly and made of pricey materials like diamonds, platinum, silver, and gold, among others. The scarcity and accessibility of the aforementioned resources have resulted in a price increase during the past few years. As a result of shifting raw material prices, the cost of finished goods, such as men's jewelry, rises. Men's jewellery consequently becomes less accessible and cheap for a specific male demographic.

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Geographical Insights:

The evolution of the fashion industry and shifting societal trends are driving the market in the Asia Pacific region. A change in perceptions toward men's accessories, particularly jewelry, has created a profitable men's jewelry market in the region, which includes South Korea, China, India, Japan, and other nations.

Segmental Outlook:

By Product Outlook:

• Necklace
• Ring
• Earrings
• Bracelet
• Other Products

By Type Outlook:

• Silver
• Gold
• Platinum
• Diamond
• Titanium
• Steel
• Tungsten
• Forged Carbon
• Other Types

By Category Outlook:

• Branded
• Unbranded

By Distribution Channel Outlook:

• Offline
• Online

By Age Outlook:

• Below 18 years
• 18-30 years
• 30-50 years
• Above 50 years

By Region Outlook:

• North America (U.S., Canada)
• Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
• Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea, Australia)
• Latin America (Brazil, Mexico, Argentina)
• Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

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