According to the latest report by IMARC Group, titled “Costume Jewelry Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on the global costume jewelry market share. The report also includes competitor and regional analysis, and contemporary advancements in the market.
what are the growth prospects of costume jewelry?
The global costume jewelrymarket size reached US$ 30.78 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 47.13 Billionon by 2027, exhibiting a growth rate (CAGR) of 7.10% during 2022-2027.
What is a the Costume jewelry?
Costume jewelry, also known as fashion jewelry, includes accessories or decorative items typically produced with simulated stones and semi-precious base metals such as brass, copper, silver, and aluminum that can easily bend and tarnish. It can also be made from inexpensive materials, including ivory, plastic, terracotta, glass, pearls, beads, non-precious metals, synthetic stones, textiles, leather, and metals plated with precious metals, such as gold. Since it helps the wearer add aesthetics, enhance beauty, and offer versatility cost-effectively, costume jewelry is gaining immense traction across the globe.
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What are the key factors driving in a costume jewelry market ?
The global costume jewelry market is primarily driven by rising fashion trends due to increasing consciousness regarding personal appearances and inflating consumer disposable incomes. Moreover, the escalating demand for affordable accessories such as costume jewelry, owing to the rising working population, is positively influencing the market growth. Additionally, numerous product innovations, such as the launch of customized costume jewelry engraved with specific quotes, names, patterns, and colors to add uniqueness and emotional connection, have catalyzed the market growth. Furthermore, the surging adoption of aggressive promotional activities, including celebrity endorsements and numerous discount offers, is contributing to the market growth. Other factors, including the rising internet penetration, easy product availability through online and offline retail channels, and escalating demand for men’s costume jewelry, are also anticipated to propel the market growth.
For the competitor segment, the report includes global key players of the costume jewelry market.
- Avon Products Inc. (Natura & Co)
- Buckley London
- Chanel, Compagnie Financière Richemont SA
- David Yurman Enterprises LLC
- Gianni Versace S.r.l. (Capri Holdings Limited)
- Giorgio Armani S.p.A.
- H & M Hennes & Mauritz AB
- H.Stern Jewelers
- LVMH Moët Hennessy Louis Vuitton
- Pandora A/S, Prada S.p.A.
- Stuller Inc. and Yanbal.
The report has been segmented the market into following categories:
Breakup by Product Type:
- Necklaces and Chains
- Cufflinks and Studs
Breakup by Gender:
Breakup by Distribution Channel:
- Asia Pacific
- North America
- Middle East and Africa
- Latin America
On the geographical front, Asia Pacific enjoys the leading position in the market. This can be attributed to the rising establishment of international companies in the region, on account of low manufacturing costs and cheap labor.
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