USD 38.93 billion
Costume Jewelry Market Size, Share, Growth Analysis, By Type(Necklaces & Chains, Earrings, Rings, Cufflinks & studs), By Mode of Sale(Others Online Stores, and Offline Stores), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG25K2093 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
65
|Figures:
68
Costume Jewelry Market Insights
Costume Jewelry Market size was valued at USD 38.93 billion in 2021 and is poised to grow from USD 41.35 billion in 2022 to USD 66.9 billion by 2030, growing at a CAGR of 6.2% in the forecast period (2023-2030).
The global costume jewelry market is expected to witness growth driven by factors such as increasing fashion consciousness, Western influence, and rising income levels. The availability of affordable costume jewelry and stylish colored stone options is anticipated to further boost the demand for such jewelry worldwide in the coming years. Compared to real jewelry, costume jewelry offers convenience and requires less upkeep, making it an attractive choice for consumers. In today's society, the emphasis on appearances and aesthetics has significantly contributed to the popularity of costume jewelry across all age groups. The market's rise can be attributed to its affordability and diverse design options, catering to a wide range of consumers.
Fluctuations in the price of precious materials like gold and diamonds also drive the preference for costume jewelry as a cost-effective alternative. The growth of the Costume Jewelry Market is supported by digital marketing practices and the increasing use of e-commerce platforms. Technologically advanced methods and vibrant stones used in artificial jewelry contribute to its popularity. However, challenges such as fluctuating raw material costs, strict trade regulations, fashion trends, and disorganized supply chains may hinder market expansion. Urbanization, growing interest from both genders, increased web-based sales, and rising prices of precious metals further fuel the market's expansion.
US Costume Jewelry Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Rings
Fastest Growth
Rings
Growth Rate
6.2% CAGR
Global Costume Jewelry Market ($ Bn)
Country Share for North America Region (%)
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Costume Jewelry Market Segmental Analysis
The global costume jewelry market is segmented on the basis of type, gender, mode of sale, and region. By type, the market is segmented into necklaces & chains, earrings, rings, cufflinks & studs, bracelets, others. by gender, the market is segmented into male and female. By mode of sale the market is segmented into online stores and offline stores. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Costume Jewelry Market Analysis By Type
“Rings” being the most dominant segment in terms of market share. Rings are widely popular among consumers and are often considered a staple in costume jewelry collections due to their versatility and wide range of designs.
On the other hand, “Necklaces & Chains” have emerged as the fastest-growing segment in the market. The increasing demand for fashionable and trendy necklaces and chains, coupled with various material and design options, has driven the rapid growth of this segment. Necklaces and chains are popular accessories that can enhance any outfit and are often chosen by fashion-conscious consumers seeking to make a style statement.
Costume Jewelry Market Analysis By Mode of Sale
The “Offline stores” segment is the most dominated segment in the Global Costume Jewelry Market. Traditional brick-and-mortar stores, boutiques, and departmental stores are popular avenues for purchasing costume jewelry, especially among older consumers who preferred a physical shopping experience and wanted to personally examine and try on the jewelry before making a purchase.
On the other hand, “Online stores” segment is the fastest growing segment in the global costume jewelry market. The increasing popularity of e-commerce platforms, technological advancements, and the convenience of online shopping attracted a wide range of consumers, particularly the younger demographic. Online channels provided a vast selection of costume jewelry, competitive pricing, and the ease of purchasing from the comfort of home, contributing to the significant growth of this segment.
Global Costume Jewelry Market By Type
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Costume Jewelry Market Regional Insights
The global costume jewelry market is analyzed based on its regional presence, which includes North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. Among these regions, “North America” emerged as the leader and a dominant region in the Costume Jewelry Market, with a significant share in terms of revenue and consumer demand. The region's strong position is attributed to the high disposable income of consumers, fashion-conscious population, and the presence of well-established fashion and jewelry industries. Additionally, the adoption of costume jewelry as a cost-effective fashion accessory has contributed to its popularity in North America.
On the other hand, “Asia Pacific” is considered to be the fastest growing region. The region's growth is fueled by factors such as increasing urbanization, rising middle-class population, changing lifestyle preferences, and a surge in e-commerce platforms. Countries like India, China, and Southeast Asian nations have witnessed a growing trend of costume jewelry adoption due to its affordability and a wide variety of designs. Moreover, the cultural significance of jewelry in these countries further drives the demand for costume jewelry.
Global Costume Jewelry Market By Geography
- Largest
- Fastest
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Costume Jewelry Market Dynamics
Costume Jewelry Market Drivers
Fashion Consciousness:
- The increasing fashion consciousness among consumers, especially the younger demographic, is driving the demand for costume jewelry. People are seeking trendy and stylish accessories that can complement their outfits and reflect their personal style.
Affordability and Variety:
- Costume jewelry offers a wide range of designs and materials at more affordable prices compared to fine jewelry made of precious metals and gemstones. This accessibility appeals to a broader consumer base, allowing them to own multiple pieces to match various occasions and outfits.
Costume Jewelry Market Restraints
Fluctuating Raw Material Costs:
- The market is susceptible to fluctuations in the prices of raw materials, such as base metals, glass, beads, and synthetic gemstones. Rapid changes in these costs can impact the overall profitability and pricing of costume jewelry products.
Fashion Sensitivity and Trends:
- The costume jewelry market is highly sensitive to changing fashion trends. Consumers' preferences and styles evolve rapidly, and manufacturers must stay up-to-date with the latest trends to remain relevant and maintain market demand. Failure to keep up with fashion trends can lead to excess inventory and reduced sales.
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Costume Jewelry Market Competitive Landscape
The global costume jewelry market features a competitive landscape with numerous companies vying for market share. These players compete based on factors such as product innovation, design aesthetics, pricing strategies, and distribution networks. The market's growth is also influenced by changing consumer preferences, fashion trends, and advancements in technology. Market players strive to cater to diverse customer segments and expand their presence through online platforms and retail channels. Additionally, collaborations, mergers, and acquisitions are common strategies adopted by companies to strengthen their position in the dynamic and evolving Costume Jewelry Market.
Costume Jewelry Market Top Player’s Company Profile
- The Colibri Group (US)
- Channel S.A. – (France)
- Gianni Versace S.p.A. – (Italy)
- Gucci Group NV – (Italy)
- Swarovski Group – (Austria)
- PANDORA A/S – (Denmark)
- H & M Hennes & Mauritz AB – (Sweden)
- Zara (Inditex Group) – (Spain)
- PRADA – (Italy)
- Swank, Inc. (US)
- Cartier – (France)
- Billig Jewelers, Inc. - (US)
- BaubleBar Inc - (US)
Costume Jewelry Market Recent Developments
- In December 2022, Melorra, a prominent direct-to-consumer (D2C) company specializing in lightweight and affordable trendy gold jewelry, launched a unique jewelry line inspired by the popular movie "Avatar." This innovative collection celebrates modernity and introduces a new dimension to the jewelry industry trends.
- In March 2023, Sotheby's announced the upcoming debut of its first-ever jewelry series, featuring the works of Brazilian-Lebanese designer Nadine Ghosn as the inaugural guest designer. This exciting collaboration showcases exceptional designs and creativity in the world of jewelry, adding a fresh perspective to the industry.
Costume Jewelry Key Market Trends
- Increased Sustainability and Ethical Sourcing:
There is a growing consumer demand for sustainable and ethically sourced costume jewelry. Consumers were becoming more conscious about the environmental and social impact of their purchases, leading to an increased preference for jewelry made from recycled materials or those sourced responsibly. Manufacturers and brands that embraced eco-friendly practices and transparent supply chains were gaining a competitive edge in the market.
- Personalization and Customization:
Customization and personalization were becoming prominent trends in the costume jewelry market. Consumers sought unique and individualized pieces that reflected their personal style and preferences. Jewelry companies were responding to this demand by offering customizable options, where customers could choose designs, materials, and even engrave personalized messages. This trend allowed customers to create one-of-a-kind pieces, enhancing their emotional connection to the jewelry and driving customer loyalty.
Costume Jewelry Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Component types team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global costume jewelry market analyses, the rising fashion consciousness, Western influence, and increasing income levels. Affordable prices and attractive designs, along with the convenience of low maintenance compared to real jewelry, are driving demand. The market is also benefiting from changes in Internet marketing practices and the use of digital media for advertising. However, challenges such as fluctuating raw material costs, strict trade rules, fashion sensitivity, and a disorganized supply chain may hinder growth. Urbanization, growing interest from both genders, increased web-based sales, and rising prices of precious metals contribute to the market's expansion. Despite some limitations, the Costume Jewelry Market is expected to continue growing in the near future.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 38.93 billion |
| Market size value in 2031 | USD 66.9 billion |
| Growth Rate | 6.2% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Costume Jewelry Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Costume Jewelry Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Costume Jewelry Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Costume Jewelry Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Costume Jewelry Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Costume Jewelry Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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