The global costume jewelry market size is expected to reach USD 39.2 billion by 2025, expanding at a CAGR of 6.5% in the forecast period, according to a new report by Grand View Research, Inc. Growing fashion consciousness, increasing number of working women, and rising disposable income are some of the factors for the market growth.
On the basis of type, the ring segment dominated the market with a share of 33.6% in 2018. Wide variety, application, and low cost of the product as compared to other product types is likely to fuel the segment growth in the forecast period. Earrings are expected to register a CAGR of 6.9% in the forecast period. Trend of changing the product on a daily basis among working women has led to the requirement of a variety of products, thereby influencing the product demand.
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The offline segment is dominated the market and accounted for 74.4% share of the overall revenue in 2018. Traditional method of shopping, presence of a wide variety of products, and option of customization as per the customer preference are anticipated to propel the segment growth in the near future. The online segment is likely to expand at the fastest CAGR of 7.1% in the forecast period. Introduction of a large number of online platforms in recent times with trusted dealers is expected to drive the segment.
Asia Pacific was the largest regional costume jewelry market in 2018, accounting for 35.0% share of the total revenue. Growing demand among working women as well as men in the emerging countries such as India and China, which account for 34% of the global population, is driving the market in the region. The market in Europe is expected to expand at a CAGR of 8.0% in the forecast period. Presence of leading players in the region and frequent innovation in the designs are boosting the market growth in the region.
Costume Jewelry Market Report Highlights
• By type, the ring segment is anticipated to expand at a CAGR of 7.1% in the forecast period
• North America was the second largest regional costume jewelry market in 2018, accounting for 25.0% share of the overall revenue
• Based on distribution channel, online stores are expected to register a CAGR of 7.1% in the forecast period.
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Costume Jewelry Market Segmentation
Grand View Research has segmented the global costume jewelry market on the basis of type, distribution channel, end user, and region:
Costume Jewelry Distribution Channel Outlook (Revenue, USD Billion, 2015 - 2025)
• Online Stores
• Offline Stores
Costume Jewelry Type Outlook (Revenue, USD Billion, 2015 - 2025)
• Necklace/Chain
• Ring
• Bracelet
• Earring
• Others
Costume Jewelry End User Outlook (Revenue, USD Billion, 2015 - 2025)
• Men
• Women
Costume Jewelry Regional Outlook (Revenue, USD Billion, 2015 - 2025)
• North America
o U.S.
• Europe
o Germany
o Italy
• Asia Pacific
o China
o India
• Middle East & Africa
o UAE
• Central & South America
o Brazil
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.