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

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.