Canada Diamond Engagement Ring Market Size By Mode of Purchase (Offline and Online), By Style (Halo, Solitaire, Vintage), And Forecast

Canada Diamond Engagement Ring- Market Size And Forecast

Canada Diamond Engagement Ring Market size was valued at USD 8,589.95 Million in 2021 and is projected to reach USD 11,918.7 Million by 2030, growing at a CAGR of 3.7% from 2022 to 2030.

The increasing number of counterfeit rings in the market is a major factor affecting the growth of the market. Moreover, the growing penetration of the E-commerce sector coupled with the characteristic of the engagement ring is attracting customers, which in turn, propels the growth of the market. Canada Diamond Engagement Ring Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Market Definition- Canada Diamond Engagement Ring

Engagement rings? Well, depending on where you're from, you might just call them finger rings or bands – anything we wear to celebrate getting hitched! This tradition is ancient, and different cultures have been doing it for ages. Back in the day, folks used things like gimmel rings, poesy rings, and Byzantine rings to pop the question. Nowadays, things have gotten fancy with all sorts of new styles thanks to innovation. But generally, those classic and simple diamond wedding bands? They're often made with some serious machines that put tons of pressure on the metal, blending it all together to get the right shape. Then comes the soldering, polishing, and buffing to make it shine.

Market Overview – Canada Diamond Engagement Ring

The investment of key players in improving the efficiency of technology such as casting and plating by the use of software has created a range of premium engagement rings that draw mass consumers to the industry. The growing consumer need for newer trends and customization is expected to fuel the growth of the market over the estimated time.

Segmentation Analysis – Canada Diamond Engagement Ring Market

The Canada Diamond Engagement Ring Market is segmented based on Purchase, and Style.

Canada Diamond Engagement Ring Market, By Mode of Purchase

• Offline• Online

Based on the mode of Purchase, the market is bifurcated into Offline and Online. Offline accounted for the largest market share in 2021. The growing trend of customization of diamond engagement rings is supporting the growth of the market.

Canada Diamond Engagement Ring Market, By Style

• Halo• Solitaire• Vintage• Others

Based on Style, the market is bifurcated into Halo, Solitaire, Vintage, and Others. Halo accounted for the largest market share in 2021. Halo diamond engagement rings are one of the most popular styles and showing better growth of diamond rings in the market.

Key Players

The “Canada Diamond Engagement Ring Market” study report will deliver valuable insight with an emphasis on the market. The major players in the market are Blue Nile Inc., Kay Jewelers, Zales, Jared The Galleria Of Jewelry, Tiffany & Co., Michael M, and Others.

Key Developments

• BLUE NILE INC. – Business Expansiono The company opened its latest shopping center at Fashion Island as a part of a larger brick-and-mortar growth strategy.o The Blue Nile aims to open 50 showrooms over the next three years targeting high-end malls, open-air malls, and street locations.

• Ecksand – Product Launcho Ecksand, a Canadian jewelry giant introduced a new engagement ring style, a new diamond cut to join its collection.o It is available in a platinum band with a colorless True-cut diamond and an 18K yellow gold band with a yellow cushion-cut diamond.

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