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DUBLIN–(BUSINESS WIRE)–The “Luxury Jewelry Market by Product Type, by Application, by Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2021-2031” report has been added to from ResearchAndMarkets.com offer.
Global Luxury Jewelry Market was valued at USD 21,751.6 Million in 2021 and is projected to reach USD 40,190.7 Million by 2031, registering a CAGR of 6.4% from 2022 to 2031.
The necklaces segment has been the largest contributor to market revenue and is expected to reach $9,895.7 million by 2031, growing at a CAGR of 5.9%.
Luxury jewelry involves the creation of jewelry using precious stones or metals. The products included in the luxury jewelry market are necklaces, rings, winnings, bracelets and others.
Lifestyle changes, an increase in disposable income, an increase in the price of precious metal jewelry, an increase in fashion awareness, variations in packaging styles and attractive marketing strategies are all contributing to growth. of the market. However, factors hampering the growth of the market include an increase in the price of raw materials used in luxury jewelry and the limited popularity of jewelry.
Conversely, increased urbanization, design innovations and increased demand for luxury men’s jewelry provide potential opportunities for manufacturers to innovate and develop new products based on consumer preferences. .
The COVID-19 pandemic has had a significant impact on markets across all sectors, with the number of COVID-19 cases increasing day by day. The virus outbreak has also impacted the luxury jewelry industry. As the lockdown continues, demand has plummeted and losses have started to mount.
The containment, which was necessary for the benefit of the people, happened unexpectedly and in March, which is the end of the fiscal year, affecting the objectives and the actual activities. Additionally, March is the month in which final accounting is delayed, which has a significant impact on all businesses, including the luxury jewelry market.
Key Benefits
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This report provides a quantitative analysis of market segments, current trends, estimates and dynamics of the Luxury Jewelry Market analysis from 2021 to 2031 to identify current opportunities in the Luxury Jewelry Market.
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Market research is offered with information related to key drivers, restraints, and opportunities.
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Porter’s Five Forces analysis highlights the ability of buyers and suppliers to enable stakeholders to make profit-driven business decisions and strengthen their supplier-buyer network.
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An in-depth analysis of the luxury jewelry market segmentation helps to determine the existing market opportunities.
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Major countries in each region are mapped according to their revenue contribution in the global market.
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The positioning of market players facilitates benchmarking and provides a clear understanding of the current position of market players.
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The report includes analysis of regional and global luxury jewelry market trends, key players, market segments, application areas and market growth strategies.
Key market segments
By product type
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Necklaces
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Ring
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Earings
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Wristbands
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Others
By request
By distribution channel
By region
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North America
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WE
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Canada
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Mexico
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Europe
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Germany
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UK
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France
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Italy
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Spain
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The rest of Europe
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Asia Pacific
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China
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Japan
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India
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Australia
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South Korea
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Rest of Asia-Pacific
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LAMEA
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Brazil
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Argentina
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United Arab Emirates
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Saudi Arabia
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South Africa
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Rest of LAMEA
Main market players
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Avon Products Inc.
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Chopard International S.A.
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Giorgio Armani SpA
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GRAFF
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Guccio Gucci SpA
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LVMH
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MIKIMOTO
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Prada Spa
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Signet Jewelers Limited
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Sukkhi Costume Jewelery
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Swarovski Group
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Tanishq
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Amrapali Tribe
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Youbella
For more information on this report, visit https://www.researchandmarkets.com/r/ryl5lx
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