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DUBLIN, July 18, 2022 /PRNewswire/ — The “Report analyzing the size, share and trends of the jewelry market by product (necklace, ring, earring, bracelet), by material (gold, platinum, diamond), by region (North America, Europe), and sector forecasts, 2022-2030 » report has been added to from ResearchAndMarkets.com offer.
The size of the global jewelry market is expected to reach $518.90 billion by 2030. It is expected to grow at a CAGR of 8.5% from 2022 to 2030. The luxury industry continues to drive the jewelry market, amid challenges regarding various economic trends.
Demand for jewelry is increasing as the world recovers from a recession and the global financial crisis of 2008. In recent years, consumer preference has shifted to branded jewelry. This trend is more pronounced among the emerging upper middle class or affluent consumers, especially in Asia Pacific, for whom designer jewelry is a status symbol. According to the World Gold Council, India and China accounted for over 50% of global gold jewelry demand in 2018.
Most consumers buy jewelry from international or established brands because they offer authentic, reliable products and unique designs. E-commerce is another important trend in the industry. Most consumers in this market prefer to research online before purchasing a product, and many shop through online portals for convenience.
Technological advancements have transformed the jewelry industry from precious metal mining and discovery to cloud solutions and e-commerce platforms. Computer-aided design (CAD), 3D printing, and augmented reality (AR) are some of the most notable technologies that have driven industry growth in recent years. From a distribution perspective, the emergence and popularity of these technologies have helped jewelry manufacturers around the world achieve higher profit margins at the point of sale.
A key trend that has gripped the jewelry industry over the years is the transformation of the shopping experience using technology. For example, in June 2017YOOX NET-A-PORTER GROUP, an Italian online fashion retailer, has partnered with Lumyer Inc., a US-based app development company, to launch an AR camera app designed to allow users try on jewelry, sunglasses and handbags virtually. reality.
The growing number of dual-income households in emerging economies such as India, Chinaand Brazil led to increased spending on luxury goods, including jewelry. Spending on luxury goods increases at a faster rate in Tier II cities in India than in Tier I cities. According to American Express, high-end spending in Tier II cities between 2013 and 2018 grew 30 times faster than that in Tier I cities. Tier I and Tier II cities is due to strict Indian government measures such as an increase in excise duties on gold and diamonds, demonetization and an increase in taxes on luxury items to curb black money.
Jewelry Market Report Highlights
- The rings segment held the largest revenue share in 2021. The segment was the most popular product among end users as consumer interest in intricate ring designs and details grows. Moreover, they are perceived as elegant and stylish jewelry by both men and women, which supports the growth of the segment.
- The gold-bearing materials segment is expected to register the fastest growth rate during the forecast period. In 2020, the jewelry industry used more than 1,400 metric tons of gold, representing more than a third of all gold demand worldwide
- Asia Pacific held the largest share of revenue in 2021. Highly populated and developing economies in the region, including China and India generate a huge demand for jewelry by increasing its consumption and income. Additionally, the high importance of jewelry in Indian culture, improving living standards, rising per capita income and purchasing power, and the growing influence of social media on consumers are fueling the growth. of the market in Asia Pacific.
Main topics covered:
Chapter 1. Methodology and scope
Chapter 2. Executive Summary
Chapter 3. Jewelry Market Variables, Trends and Scope
3.1. Market overview
3.2. Mapping of penetration and growth prospects
3.3. Impact of COVID-19 on the jewelry market
3.4. Industry Value Chain Analysis
3.4.1. Commodity trend
3.4.2. Manufacturing and technological trends
3.4.3. Sales channel analysis
3.5. Market dynamics
3.5.1. Market Driver Analysis
3.5.2. Market Restriction Analysis
3.5.3. Industry Challenges
3.5.4. Industry Opportunities
3.6. Business environment analysis
3.6.1. Industry Analysis – Porter’s
3.6.1.1. Supplier Power
3.6.1.2. purchasing power
3.6.1.3. Surrogate Threat
3.6.1.4. Threat of a new entrant
3.6.1.5. Competitive Rivalry
3.6.2. PESTEL analysis
3.6.3. Analysis of major transactions and strategic alliances
3.6.3.1. Mergers and Acquisitions
3.7. Market entry strategies
Chapter 4. Consumer Behavior Analysis
4.1. Consumer trends and preferences
4.2. Factors affecting purchase decision
4.3. Consumer Product Adoption
4.4. Observations and Recommendations
Chapter 5. Jewelry Market: Product Estimates and Trend Analysis
5.1. Analysis of the movement of products and market share, 2021 and 2030
5.2. Necklace
5.2.1. Market estimates & forecast, 2017-2030 (USD Million)
5.3. Ring
5.3.1. Market estimates & forecast, 2017-2030 (USD Million)
5.4. Earring
5.4.1. Market estimates & forecast, 2017-2030 (USD Million)
5.5. Bracelet
5.5.1. Market estimates & forecast, 2017-2030 (USD Million)
5.6. Others
5.6.1. Market estimates & forecast, 2017-2030 (USD Million)
Chapter 6. Jewelry Market: Material Estimates and Trend Analysis
6.1. Analysis of the movement of materials and market share, 2021 and 2030
6.2. Platinum
6.2.1. Market estimates & forecast, 2017-2030 (USD Million)
6.3. Gold
6.3.1. Market estimates & forecast, 2017-2030 (USD Million)
6.4. diamond
6.4.1. Market estimates & forecast, 2017-2030 (USD Million)
6.5. Others
6.5.1. Market estimates & forecast, 2017-2030 (USD Million)
Chapter 7. Jewelry Market: Regional Estimates and Trend Analysis
Chapter 8. Competitive Analysis
8.1. Major Global Players, Recent Developments and Their Impact on the Industry
8.2. Categorization of main companies/competitors (key innovators, market leaders, emerging players)
8.3. Supplier Landscape
8.3.1. Market share analysis of key companies, 2021
Chapter 9. Business Profiles
9.1. Tiffany and company.
9.1.1. Company presentation
9.1.2. Financial performance
9.1.3. Product Benchmarking
9.1.4. Strategic initiatives
9.2. Louis Vuitton SE
9.2.1. Company presentation
9.2.2. Financial performance
9.2.3. Product Benchmarking
9.2.4. Strategic initiatives
9.3. Signet Jewelers Limited
9.3.1. Company presentation
9.3.2. Financial performance
9.3.3. Product Benchmarking
9.3.4. Strategic initiatives
9.4. Pandora Jewelry, LLC
9.4.1. Company presentation
9.4.2. Financial performance
9.4.3. Product Benchmarking
9.4.4. Strategic initiatives
9.5. H. Stern
9.5.1. Company presentation
9.5.2. Financial performance
9.5.3. Product Benchmarking
9.5.4. Strategic initiatives
9.6. Richemont
9.6.1. Company presentation
9.6.2. Financial performance
9.6.3. Product Benchmarking
9.6.4. Strategic initiatives
9.7. Chow Tai Fook Jewelery Group Limited
9.7.1. Company presentation
9.7.2. Financial performance
9.7.3. Product Benchmarking
9.7.4. Strategic initiatives
9.8. Malabar Gold & Diamonds
9.8.1. Company presentation
9.8.2. Financial performance
9.8.3. Product Benchmarking
9.8.4. Strategic initiatives
9.9. Swarovski AG
9.9.1. Company presentation
9.9.2. Financial performance
9.9.3. Product Benchmarking
9.9.4. Strategic initiatives
9.10. GRAFF
9.10.1. Company presentation
9.10.2. Financial performance
9.10.3. Product Benchmarking
9.10.4. Strategic initiatives
For more information on this report, visit https://www.researchandmarkets.com/r/93ahkz
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