24-Jun-2021 | Facts and Factors
The latest publication by Facts & Factors titled “Global Jewelry Market” curtails all the aspects of the market that determine the projected path for the market development during the forecast timeframe. We at Facts & Factors after thorough market analysis have estimated that the total global Jewelry Market size & share revenue generated by the market at the end of the forecast year 2026 will be USD 500 Billion from an initial offering of around USD 324.60 Billion in the year 2020 with an expected CAGR of around 8.5% during 2021-2026.
Jewelry is often considered as a piece of garment that magnifies the visual aesthetic of the wearer significantly. Often, ancient documents and forms of communication depict the human donning a form of apparel rather than clothing which signifies the existence of jewelry in the prehistoric age. The driving forces behind the growth of the global jewelry market can be credited to increased disposable income among consumers and the latest innovation in designs and functionality. Additional factors that can be attributed to the high growth of the global Jewelry market are rapid changes in lifestyle among consumers and a growing trend of bridal-based jewelry.
Trends pertaining to cross-culture jewelry are expected to drive the market rate towards a ballooned state during the projected forecast. Innovative advertisement campaigns and intricate design will open new revenue streams for the global Jewelry market as it will capture a larger consumer base. Furthermore, raising awareness among consumers for identifying the purity of gemstone and metals utilized in the production of premium Jewelry products will propel the growth of the market significantly.
Top Market Players
The key players in the global Jewelry market are Tiffany & Co., Pandora, Signet Jewellers, H Stern., Chow Tai Fook, Swarovski, Cartier, Buccellati, Harry Winston, Inc., Chopard, Rajesh Export Ltd., Chanel, LVMH Moët Hennessy, among others.
The jewelry market is highly competitive with the key players often reconfiguring their business strategies in terms of marketing, campaigning, and designs constantly. Mergers and acquisitions are often taking place in order to swap and combine consumer bases in order to recoup a higher piece of the profits. International Jewelry Design Inc. launched DBW Jewelry (Design, Build, Wear) for the company B2B retail consumers with a fully functioning interactive e-commerce platform. Hong Kong’s Chow Tai Food recently collaborated with Enzo in order to explain their footprint across mainland China.
The global Jewelry market can be divided into necklace, earrings, ring, bracelet, and others on the basis of product. The ring segment is expected to witness significant growth due to increasing tendency of religious beliefs, rising consumer interest, innovative and intricate designs, and the notion of rings being significantly stylish and attractive when donned. Furthermore, the rising trend of custom made rings for celebrating special occasion among consumers will further drive the growth of the market.
The global jewelry market can be broken down into gold, diamond, platinum, and others. The gold segment is expected to witness the largest market share during the forecast owing to rising imports/exports and the fact that gold is often deemed as hard currency in various parts of the globe. Furthermore, the rising GDP of developing economies will boost the sales of gold-based jewelry among consumers with increased spending powers.
Asia-Pacific Will Exhibit Highest Market Share During the Forecast Period
Asia-Pacific is expected to witness the largest market share with recent trends indicating the region to occupy more than 60% of the global market cap over the forecast period. The presence of key players in the regions coupled with the two most populous countries – China & India will drive the growth of the global Jewelry market during the forecast. Availability of quality and premium products and increased demands from consumers will further propel the growth of the market. The region of Middle East & Africa is expected to occupy a large market share during the forecast owing to intricate designs and presence of gold mines across the region.
Browse the full report “Jewelry Market: By Product (Necklace, Earrings, Ring, Bracelet, & Others), By Material (Gold, Diamond, Platinum, And Others), By End-Users (Men & Women), And By Regions – Global & Regional I Industry Perspective, Comprehensive Analysis, and Forecasts, 2021 – 2026” at https://www.fnfresearch.com/jewelry-market
The global Jewelry market can be segmented as:
Global Jewelry Market: By Product Segment Analysis
Global Jewelry Market: By Material Segment Analysis
Global Jewelry Market: By End-Users Segment Analysis
Global Jewelry Market: By Regional Segment Analysis
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