iCrowd Newswire – Jul 16, 2020
The Global Costume Jewelry Market is estimated to grow at a CAGR of 7.80% during the forecast period 2020-2027. As per the detailed market study, the global Costume Jewelry industry was valued at $32.9 billion in the year 2019 and is anticipated to reach $59.7 billion by the end of the year 2027. The market has witnessed a balanced growth with a considerable growth in disposable income over the past decade, changes in lifestyle and growth in global economies among others. The global marketplace is majorly dominated by the female segment by holding ~2/3rd of the global market share.
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The raw materials used in costume jewellery are brass, aluminium, leather, beads, semi-precious stones, plastic and glass. The global Costume Jewelry market is driven by various growth factors such as increase in consumer preference for affordable and fashionable jewellery, change in packaging styles & attractive marketing strategies, rise in fashion consciousness, increase in prices of precious metal jewellery, rise in disposable income and change in lifestyle. Whereas, limited period popularity of the jewellery and surge in prices of raw material for costume jewellery impede the market growth. On the contrary, surge in demand for costume jewellery for men, innovations in designs and increase in urbanization offer lucrative opportunities for the market players operating in the global Costume Jewelry industry.
Competitive Insights of the Global Costume Jewellery Market
BaubleBar Inc., Billig Jewelers, Inc., Cartier, Swank, Inc., PRADA, Zara, H & M Hennes & Mauritz AB, PANDORA A/S, Swarovski Group, Gucci Group NV, Gianni Versace S.p.A., Channel S.A., The Colibri Group, Yurman Design Inc., Stuller, Inc., Randa Accessories, LVMH Group, H.Stern Jewelers, Inc., Giorgio Armani S.p.A., DCK Group, Compagnie Financière Richemont SA, Buckley London and Avon Products, Inc. are some major players included in the research study of the global costume jewellery market.
Segmentation Overview of the Global Costume Jewellery Market
The global costume jewellery market is segmented on the basis of product type, gender and mode of sales. These major market segments are further categorized into various sub-segments to study the market in detail considering different market determinants and geographical dynamics.
The Product Type Segment of the Global Costume Jewelry Market is Sub-Segmented into:
- Cufflinks & studs
- Necklaces & Chains
The Gender Segment of the Global Costume Jewelry Market is Sub-Segmented into:
The Mode of Sale Segment of the Global Costume Jewelry Market is Sub-Segmented into:
- Retail Sale
- Online Sale
Geographical Overview of the Global Costume Jewelry Market
The North American costume jewellery market is estimated to grow at a CAGR of 7.10% by the end of the year 2027. The regional market dominance is attributed to presence of large number of market players in the U.S. and Canada. The U.S. accounted as the largest importer of costume jewellery at global level. On the other hand, the LAMEA costume jewellery market is estimated to grow at significant growth at a CAGR of 8.8% during the forecast period 2020-2027, owing to growth in purchasing parity of individuals in the region, availability of wide options of jewelleries and better enhanced standard of living.
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Keywords: Costume Jewelry Market