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 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.
Industry Overview of Costume Jewelry
Costume jewelry, also known as imitation jewelry or fashion jewelry, is a type of jewelry that is crafted using non-precious materials and is primarily designed to complement various outfits and styles. It comprises a wide range of items, including necklaces, bracelets, earrings, rings, and brooches, all of which are created to mimic the aesthetic appeal of fine jewelry without the high price tag. It is manufactured from various precious materials, such as base metals, glass, plastic, and synthetic gemstones, as compared to fine jewelry. It is widely available in various designs and styles to attract a large consumer base. It is a popular choice among consumers seeking affordable and stylish accessories to enhance their appearance. As it is easier to clean and maintain, the demand for costume jewelry is rising across the globe.
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What are the growth prospects and trends in the costume jewelry industry?
At present, the increasing preference for multiple pieces of costume jewelry to complement various outfits among individuals represents one of the key factors strengthening the growth of the market. In line with this, the wide availability of costume jewelry through online and offline distribution channels around the world is positively influencing the market. In addition, the increasing popularity of costume jewelry due to the thriving fashion industry is propelling the market growth.
Apart from this, the rising focus on sustainability and eco-friendly materials that align with environmental sustainability is offering lucrative growth opportunities to industry investors. Additionally, there is an increase in the demand for affordable and versatile jewelry solutions among the masses across the globe. This, coupled with the rising social media influence on individuals, is impelling the market growth.
Besides this, the increasing development of costume jewelry lines that incorporate recycled materials and adhere to eco-conscious production practices is offering a positive market outlook. Moreover, the rising demand for costume jewelry as gifting options for birthdays, holidays, or special occasions is bolstering the market growth.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Product Type:
- Rings
- Necklaces and Chains
- Earrings
- Cufflinks and Studs
- Bracelets
- Others
Breakup by Gender:
- Female
- Male
Breakup by Distribution Channel:
- Offline
- Online
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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