IMARC Group, a leading market research company, has recently releases report titled “Costume Jewelry Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global costume jewelry market analysis, size, growth, share, trends, and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Industry Overview of Costume Jewelry
Costume jewelry encompasses fashion accessories and decorative items created using inexpensive materials like beads, non-precious metals, synthetic stones, plastic, terracotta, ivory, and glass. It can also incorporate pearls, silver, aluminum, and brass. Costume jewelry, available in various captivating designs, is worn for personal adornment and to complement contemporary fashion trends, specific attire, or garments. It enables individuals to enhance their aesthetics, beauty, and versatility without incurring high costs. Earrings, anklets, finger and nose rings, bangles, and necklaces are among the popular forms of costume jewelry.
How Big Is the Costume Jewelry Market?
The global costume jewelry market size reached US$ 33.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 49.3 Billion by 2028, exhibiting a growth rate (CAGR) of 6.5% during 2023-2028.
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What are the growth prospects and trends in the costume jewelry industry?
The market is experiencing a positive trajectory due to the changing fashion trends influenced by higher income levels and a growing emphasis on personal appearance. Furthermore, the increasing number of people in the workforce has fueled the demand for affordable accessories like costume jewelry, leading to further market expansion. Manufacturers are also exploring different materials, such as semi-precious stones, beads, and metals, offering a wide range of costume jewelry options that cater to various fashion preferences at affordable prices. This, in turn, supports market growth.
Additionally, product innovations such as customized costume jewelry that can be engraved with specific quotes, designs, names, and colors to create a unique and emotionally connected piece are significantly boosting the market growth. Furthermore, the widespread adoption of aggressive promotional strategies, including celebrity endorsements and various discount offers, is positively influencing market growth.
Other factors such as increased purchasing power, the growing internet penetration, easy availability of products through e-commerce platforms, innovations in jewelry packaging styles, and the rising demand for men’s costume jewelry are expected to drive market growth.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Product Type:
- Necklaces and Chains
- Cufflinks and Studs
Breakup by Gender:
Breakup by Distribution Channel:
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
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, LVMH Moët Hennessy Louis Vuitton, Pandora A/S, Prada S.p.A., Stuller Inc. and Yanbal.
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