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 are referred to in different parts of the world as finger rings or bands worn to celebrate the tradition of engagement or marriage. The engagement ring has been used since ancient times according to different cultures and has gained prominence around the world. Gimmel rings, poesy rings, and Byzantine rings were previously used as engagement rings. As innovation and technology have occurred in recent years, the industry has widened its range of engagement rings. In general, the classic and simple diamond wedding bands are produced by the use of powerful machines that apply enormous pressure on the metals and blending machines to shape the ring, followed by the process of soldering, polishing, and buffing.

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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Reasons to Purchase this Report

• 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 from 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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