Global Costume Jewelry Market Size By Product Type, By Material, By Distribution Channel, By Geographic Scope And Forecast
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
Global Costume Jewelry Market Size By Product Type, By Material, By Distribution Channel, By Geographic Scope And Forecast
Costume Jewelry Market Size And Forecast
Costume Jewelry Market size was valued at USD 32.87 Billion in 2023 and is projected to reach USD 56.38 Billion by 2030, growing at a CAGR of 7.14% during the forecast period 2024-2030.
Global Costume Jewelry Market Drivers
The market drivers for the Costume Jewelry Market can be influenced by various factors. These may include
Fashion Trends Costume jewelry frequently keeps up with current trends in clothing. The market for costume jewelry is driven by shifts in clothing designs, colors, and patterns, which in turn affect the desire for related accessories.
Affordability Costume jewelry is less expensive than fine jewelry. Consumers may choose costume jewelry as an affordable option to adorn their clothes in response to economic fluctuations, which would increase market demand.
Shifting Consumer Preferences As ethical and sustainable issues in the fashion industry gain more attention, buyers may favor costume jewelry made of eco-friendly materials or from companies that follow ethical and transparent manufacturing processes.
Customization & Personalization Customers are looking for distinctive and customized items more and more. Manufacturers of costume jewelry that provide limited-edition collections or customizable alternatives may draw in clients looking for unique pieces.
Growth of Online Retail Costume jewelry businesses’ reach has been greatly increased with the emergence of e-commerce platforms. Online retailers contribute to market expansion by providing convenience, a larger assortment, and frequently competitive pricing.
Social Media Influence Trends and customer preferences are greatly influenced by social media platforms. Influencers and famous people who wear costume jewelry in their videos and posts have a significant effect on demand and sales.
Shifts in the population The market dynamics are influenced by shifts in the population, such as the emergence of millennials and Generation Z as important consumer groups. When making purchases, these younger generations frequently place a higher value on affordability, sustainability, and individuality, which may increase demand for costume jewelry.
Occasion-Based Purchases During festive seasons, holidays, weddings, and other special occasions, costume jewelry sales frequently soar. Manufacturers can introduce promotional campaigns or themed collections to take advantage of these chances.
Technological Innovations Costume jewelry producers are able to produce new, high-quality items at competitive pricing due to advancements in design technologies, production procedures, and materials. This has led to a growth in the market.
Globalization and Urbanization These two phenomena have facilitated the global flow of cultural influences and fashion tastes. Costume jewelry companies can take advantage of this trend for growth and market penetration by tailoring their products to the varied tastes and preferences of various markets.
Global Costume Jewelry Market Restraints
Several factors can act as restraints or challenges for the Costume Jewelry Market. These may include
Economic factors Consumer expenditure on non-essential items, such as costume jewelry, may decline during economic downturns. During uncertain economic times, people could give priority to necessities above luxury purchases.
Disposable Income The demand for costume jewelry is significantly influenced by levels of disposable income. A low level of disposable income discourages customers from spending money on luxuries and non-essentials, which hurts the market.
Competition from Fine Jewelry When it comes to customer spending, fine jewelry and the costume jewelry sector frequently face off. Customers who believe fine jewelry offers superior value may be drawn away from costume jewelry in favor of high-quality copies and reasonably priced items.
Changing Fashion Trends Fashion trends have a big influence on costume jewelry. Certain styles and designs might become fast out of style due to shifts in consumer preferences and fashion trends, which can result in excess inventory and decreased sales.
Quality Issues Although costume jewelry is typically less expensive than fine jewelry, some customers may be discouraged from buying it due to worries about its longevity. The market may be impacted by problems including corrosion, discolouration, or allergic reactions to specific metals.
Environmental and Ethical Concerns The costume jewelry market may be impacted by growing awareness of environmental and ethical issues in the fashion sector. Traditional costume jewelry may see a decline in demand if consumers choose alternatives made with sustainable or ethical materials.
Distribution Issues Manufacturers and retailers of costume jewelry may experience issues with distribution, particularly when it comes to effectively reaching target consumers. Market expansion may be hampered by problems with distribution networks, logistics, and the cost of transportation.
Products That Are Counterfeit The market trust of consumers may be damaged by the abundance of costume jewelry products that are not authentic. In addition to hurting sales of genuine goods, counterfeits damage the industry’s reputation as a whole.
Regulatory Compliance The creation of costume jewelry may become more complex and expensive in order to comply with rules pertaining to product safety, materials used, and labeling requirements. Regulation violations may incur penalties and harm a brand’s reputation.
Worldwide Events and Uncertainties Supply chains can be disrupted, consumer confidence can be impacted, and the costume jewelry market’s overall performance can be affected by geopolitical tensions, trade disputes, natural catastrophes, and other worldwide events.
Global Costume Jewelry Market Segmentation Analysis
The Global Costume Jewelry Market is Segmented on the basis of Product Type, Material, Distribution Channel, and Geography.
Costume Jewelry Market, By Product Type
Necklaces & Chains This segment includes various types of necklaces and chains, such as chokers, pendants, statement necklaces, and layered chains.
Earrings This segment comprises different styles of earrings, including studs, hoops, dangles, and ear cuffs.
Bracelets & Bangles It includes a variety of wrist accessories like bracelets, bangles, cuffs, and wristbands.
Rings This segment encompasses rings of different designs, sizes, and materials, including cocktail rings, stackable rings, and midi rings.
Brooches & Pins These are decorative accessories worn on clothing, hats, or bags, featuring various designs such as flowers, animals, and abstract patterns.
Costume Jewelry Market, By Material
Metal-based Includes jewelry made primarily from metals such as brass, copper, stainless steel, and aluminum.
Plastic & Resin Comprises jewelry crafted from plastic, acrylic, resin, or polymer materials, often used for colorful or statement pieces.
Glass & Crystal This segment includes jewelry adorned with glass beads, crystals, rhinestones, or faux gemstones to mimic the appearance of precious stones.
Wood & Fabric Consists of jewelry made from natural materials like wood, fabric, leather, or textiles, offering a rustic or bohemian aesthetic.
Mixed Materials Encompasses pieces that combine various materials, such as metal with beads, leather with metal accents, or fabric with gemstone embellishments.
Costume Jewelry Market, By Distribution Channel
Online Retail Jewelry sold through e-commerce platforms, company websites, and online marketplaces.
Offline Retail Includes sales through brick-and-mortar stores, specialty boutiques, department stores, and jewelry shops.
Direct Sales Involves selling jewelry directly to consumers through home parties, pop-up events, or personal consultations.
Costume Jewelry Market, By Geography
North AmericaMarket conditions and demand in the United States, Canada, and Mexico.
EuropeAnalysis of the Costume Jewelry Market in European countries.
Asia-PacificFocusing on countries like China, India, Japan, South Korea, and others.
Middle East and AfricaExamining market dynamics in the Middle East and African regions.
Latin AmericaCovering market trends and developments in countries across Latin America.
Key Players
The major players in the Costume Jewelry Market are
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.
Report Scope
REPORT ATTRIBUTES
DETAILS
STUDY PERIOD
2020-2030
BASE YEAR
2023
FORECAST PERIOD
2024-2030
HISTORICAL PERIOD
2020-2022
UNIT
Value (USD Billion)
KEY COMPANIES PROFILED
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.
SEGMENTS COVERED
By Product Type, By Material, By Distribution Channel, and By Geography.
CUSTOMIZATION SCOPE
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• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support
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