The Global Market for Costume Jewelry is Projected to Reach US$41.7 Billion by 2022
Undying Significance of Personal Adornment &
Preference for Affordable & Stylish Jewelry Drive the Global Costume
Jewelry Market, According to a New Report by Global Industry Analysts, Inc.
GIA launches comprehensive
analysis of industry segments, trends, growth drivers, market share, size and
demand forecasts on the global Costume Jewelry market. The global market for Costume Jewelry is projected to
reach US$41.7 billion by 2022, driven
by the increasing consumer preference for fashionable, yet affordable jewelry.
Costume jewelry forms a
major segment of the world jewelry market, as fashion-conscious consumers
increasingly add these items to their wardrobe ensemble. Consumers prefer varied
choices and trendy jewelry that are truly reflective of their lifestyles. Demand
for costume jewelry is also driven by the growing base of fashion conscious
teens. The increasing use of jewelry to make a style statement has led to the introduction
of statement rings, bracelets and other unique and bold jewelry pieces. The
growing number of women in the workforce is also resulting in increased demand
for affordable jewelry that helps accentuate style, appearance and personality.
Manufacturers and distributors of costume
jewelry primarily target women between the ages of 16 and 45. Although the
purchase is generally made on impulse, price is the main purchase consideration
among a majority of consumers. Purchase decisions are also backed by the desire
to keep up with current fashion trends.
Similar to the changing
fashion in clothing, trends in costume jewelry also change rapidly. Rising
purchasing power of fashion conscious, financially independent women and youth will
continue to encourage the entry of major fashion houses into the field of
fashion jewelry and accessories. Consumer desire to stay stylish coupled with
the trend of gifting fashion accessories will further benefit the market. Currently
in vogue are unique, handcrafted jewelry designs in bold colors. Antique and
floral motifs continue to inspire evergreen interest in consumers. Aging baby
boomers and their increasing interest in fashion accessories is also set to
benefit the market. Necklaces, Bracelets, & Chains represents the largest product market supported by
the growing desire to make a fashion statement with bold pieces of jewelry,
while rings are forecast to register the fastest growth.
As stated by the new
market research report on Jewelry, Costume, the United States represents the largest market worldwide with high participation of women in
the workforce and the penchant for highly fashionable, unique pieces of jewelry.
Asia-Pacific ranks as the fastest growing
market with a CAGR of 8.3% over the review period, led by factors such as cultural
significance of jewelry, sable economic growth, rapid urbanization, rising
employment levels, improving standard of living, rise in
discretionary spending by women on fashion accessories
Major players covered in
the report include Avon Products Inc., BaubleBar, Buckley London, Chanel SA,
DCK Concessions, Gianni Versace S.p.A, Giorgio Armani S.p.A., Gucci Group NV,
GUESS, Inc., Halcyon Days, H & M Hennes & Mauritz AB, H. Stern S.A,
K&M Associates, LVMH Group, Louis Vuitton, PANDORA A/S, PRADA, Roman
Research, Inc., Swarovski Group, and Zara among others.
The
research report titled “Jewelry, Costume: A Global
Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive
review of market trends, growth drivers, product innovations and strategic
industry activities of major companies worldwide. The report provides market
estimates and projections for sales of Costume Jewelry in US$ for all major
geographic markets- US, Canada, Japan, Europe (France, Germany, Italy,
UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, and Rest of
Asia-Pacific), Latin America (Brazil and Rest of Latin America), and Rest of
World. The global market for Costume Jewelry is also analyzed by the segments Ear
Rings, Necklaces, Bracelets, & Chains, Rings, Brooches, Pendants, &
Pins, Cuff Links, & Studs, and others.
Global Industry Analysts, Inc. 6150 Hellyer Ave., San Jose CA 95138, USA,
All Rights Reserved.
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