The global costume jewelry market size is anticipated to grow profoundly in the forthcoming years due to the rising demand for cost-effective jewelry. This information is published by Fortune Business Insights in its report, titled “Costume Jewelry Market, 2022-2029“. This kind of jewelry is efficient for individuals who prefer to have matching jewelry with their fashionable outfits. In addition to this, the rising influence of the entertainment industry on teenagers and young adults is significantly contributing to the market growth of the product. Moreover, the wide range of variety and designs available in this jewelry makes it appropriate for various occasions.
Small Scale Producers Gain More Business Owing to Shutdown of Large Scale Producers
The spreading coronavirus infection across the world resulted in a shutdown of large-scale production facilities of costume jewelry. Moreover, online and offline retail sales of the product were also slow due to logistic issues, financial stress, and courier issues. Despite all this, the local small-scale producers were still operating and coming up with new designs to sell locally. It is highly anticipated that, as the situation normalizes in the foreseeable future, this industry is anticipated to have a booming business.
Fortune Business Insights™ lists out all the costume jewelry market companies that are presently striving to reduce the impact of Covid-19 pandemic on the market:
- CHANEL International B.V.
- Swarovski International Holding AG
- PVH Corp.
- BJ Acquisition LLC.
- Lucky Brand Jeans Company
- BERRICLE LLC.
- Chique Fashion Pvt. Ltd.
- Tapestry Inc.
- Moet Hennessy Louis Vuitton SE
- Premier Designs Inc.
Get a Sample PDF Brochure:
What Does the Report Contain?
The report has details on all the latest technology available in the market. The technological advances made in the industry has been highlighted and the potential opportunities associated with that. The report establishes the challenges of the market and advices various solution to them. It also mentions the growth stimulating factors, the restraints, consumption pattern, distribution channels, and all other vital information associated with the market.
Rising Demand for Cost-effective Accessories to Propel Growth
The increasing demand for accessories and cost-effective items is likely to drive the costume jewelry market growth. For example, in 2019, the Department of Statistics Singapore calculated that the retails sales of clothing accessory products such as jewelry and watches have increased by over 8.9% since 2018. Moreover, various factors such as rising standards of living, rapid urbanization, and substantial influence of the entertainment industry are inculcating the demand for such fashion items.
In addition to this, the wide range of products with different colors, sizes, shapes, designs, and others are significantly attracting the preference of fashion icons, models, social media influencers, fashion bloggers, and others.
Fashion Hotspot of Europe to Aid Market Growth
Europe is projected to lead the costume jewelry market share in the foreseeable future. This is due to the large presence of prominent players in the region such as Jewelxy Marketplace Pvt. Ltd. In addition to this, fashion hotspots in the region such as France attract fashion enthusiasts from all over the world for various fashion events. For example, in May 2020, according to European Union, the sales volume of textile items, clothing, and footwear exhibited a whopping 130.7% increase than May 2019. These factors prominently influence the market growth in the region.
Asia-pacific is anticipated to experience fast growth in the forthcoming years. This is due to the high consumption of cost-effective costume jewelry for professional and casual outfits.
Based on product type, the market for costume jewelry is segmented into rings, earrings, necklaces & chains, and others. By end-user, the market is bifurcated into women and men. On the basis of distribution channels, the global market is divided into the offline channel and online channel. Based on geography, the market is divided into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
Fortune Business Insights Pvt. Ltd.9th Floor, Icon Tower, Baner –
Mahalunge Road, Baner, Pune-411045,
US: +1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245
Email: [email protected]