Jewellery Market is estimated to be US$ 431.18 billion by 2030 with a CAGR of 3.0% during the forecast period
Jewellery Market
accounted for US$ 337.66 billion in 2020 and is estimated to
be US$ 431.18 billion by 2030 and is anticipated to register a CAGR of 3.0%.
Bridal jewellery is a new trend that is gaining traction in the market. In
nations such as India, a wedding is regarded as a large event with numerous
customs and functions. Increased spending on wedding functions is likely to boost
market growth. Necklaces, hairpins, and bangles are among the most popular
accessories among women. The capacity to customize such items is a key aspect
that will likely drive market growth. Gold chains and necklaces are no longer
just for weddings and formal occasions. Rings, plain gold chains, and anklets
are used by both men and women as fashion statements. Earrings and bracelets
are also given as gifts for a variety of occasions, such as birthdays and
anniversaries. This pattern of consumption is projected to have a beneficial
impact on market growth.
The report " Global Jewellery Market, By Type (Gold,
Diamond, Platinum, and Gems), By Application (Online, and Offline), and By
Region (North America, Europe, Asia Pacific, Latin America, and Middle East
& Africa) - Market Trends, Analysis, and Forecast till 2029’’
Key Highlights:
·
- In Jan 2020, Listed in Hong Kong Four days after announcing intentions to liquidate a fifth of its Hong Kong stores, Chow Tai Fook Jewellery Group, the world's second-largest jewellery retailer by market value, has acquired mainland Chinese retailer Enzo Jewelry for an unknown sum.
Analyst View:
People's changing lifestyles and increased
disposable budgets, combined with strong branding and advertising by prominent
firms, are the primary factors driving market expansion. The rising demand for
high-end and opulent goods is driving up the price of gold and diamond
jewellery. These jewels are used to enhance a person's attractiveness and
general appeal and are regarded as a status symbol. However, supply chain
interruptions and a spike in raw material prices could stifle industry
expansion. However, increased design advancements and celebrity endorsements
can compensate for this.
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Key Market
Insights from the report:
Global Jewellery Market accounted for US$ 337.66 billion in 2020 and is
estimated to be US$ 431.18 billion by 2030 and is anticipated to register a
CAGR of 3.0%. The global jewellery
market report segments the market on the basis of type, application, and region.
- Based on Type, Global Jewellery Market is segmented into Gold, Diamond, Platinum, and Gems.
- Based on Application, Global Jewellery Market is segmented into Online, and Offline.
- By Region, the Global Jewellery Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Competitive
Landscape & their strategies of Global Jewellery Market:
Key
players in the global jewellery market includes Chow Tai Fook Jewellery LVMH,
Rajesh Exports, Richemont, Signet Jewelers, Maria Black, Missoma London, Laura
Lombardi, Bar Jewellery and Gaviria
The
market provides detailed information regarding the industrial base,
productivity, strengths, manufacturers, and recent trends which will help
companies enlarge the businesses and promote financial growth. Furthermore, the
report exhibits dynamic factors including segments, sub-segments, regional
marketplaces, competition, dominant key players, and market forecasts. In
addition, the market includes recent collaborations, mergers, acquisitions, and
partnerships along with regulatory frameworks across different regions
impacting the market trajectory. Recent technological advances and innovations
influencing the global market are included in the report.
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