According to UnivDatos report Global Costume Jewelry Market Analysis, 2020 the Global Costume Jewelry market is projected to grow at a CAGR during 2021-27F. A rise in disposable income, an emerging number of working women, etc., are some of the factors driving the growth of the global market.  Also, the offering of unique designs at affordable prices coupled with the rising fashion consciousness among end-users are contributing to the growth of the market.

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A rise in disposable income coupled with the availability of costume jewelry at reasonable prices and rising demand from men are some 0of the factors that are contributing to the growth of the market. As per OCED, the household disposable income in Canada increased from 2.1% in 2019 to 7.3% in 2020. Moreover, a rise in the E-Commerce sector coupled with the technologies such as AI in retail, AR-VR to enhance customer experience is also gaining traction among end-users and the market is on the surge. As per Statista, Apparel, footwear, and accessories sales as a percentage of total retail e-commerce sales in the United States are expected to increase from 29.5% in 2020 to 32.2% in 2024.

A McKinsey consumer-sentiment survey, conducted in April, demonstrated a significant drop in consumers' intention to purchase. However, this was different for offline vs online channels. In Europe and North America, according to the survey, the purchase intention declined 70 to 80% offline and 30 to 40% online. Similarly, 74% of Chinese consumers say they avoided shopping malls.

Based on the Product Type, the Necklace and Chains segment acquired the major market share and grabbed US Mn revenue from the global Costume Jewelry market in 2020. The demand of Necklace and Chains is proliferating on account of the awareness about the occasion such as mothers' day, women's day, valentine’s day are adding pace to the growth of the necklace and chains. Furthermore, the jewelry manufacturer is proactively making changes driven by technology and is using CAM/CAD & 3D printing to make lightweight jewelry with better finish and flexibility, which is gaining end-users traction and the demand is proliferating.

 Based on the Gender Type, the Female segment captured in 2020 and generated a revenue of US Mn. However, the men’s segment would witness considerable growth in the forthcoming years as Men’s are increasingly spending more and more on their appearance, and for the modern man, jewelry is key.

The Asia Pacific to Grab Lion’s Share, But Europe to witness Explicit Growth

Based on the Region, the Asia-Pacific region dominated the global Costume Jewelry market in 2020. The region grabbed US Mn from the global market. Moreover, the region is projected to maintain its dominance during the forecasted period 2021-27. However, the Europe region is expected to skyrocket with a CAGR in the forecast period owing, as stated in UnivDatos research report Global Costume Jewelry Market Analysis, 2020. 

According to UnivDatos the key players with a considerable market share in the global Costume Jewelry market are Swarovski Group, Avon Products, Inc., Buckley London, DCK Group, Giorgio Armani S.p.A., H.Stern Jewelers, Inc., LVMH Group, Randa Accessories, Stuller, Inc., Yurman Design Inc. among others. . The players are focused on launching new products for gaining customers' traction and expanding their geographical reach to get a competitive edge in the industry. Some of the instances are:

In 2020, India Based Nirwaana announced to launch its Exquisite men’s jewelry collection.

In 2021, Swarovski, The world’s largest crystal manufacturer reveals a new brand identity and store redesign

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Global Costume Jewelry Market Analysis, 2020 provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the Costume Jewelry market across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.      

Market Segmentation:

By Product Type (Necklaces & Chains, Earrings, Rings, Cufflinks & studs, Bracelets, and Others)

By Gender (Female, Male)

By Mode of Sale (Online, Offline)

By Region (North America, Europe, Asia-Pacific, Rest of the World)

By Company (Swarovski Group, Avon Products, Inc., Buckley London, DCK Group, Giorgio Armani S.p. A, H.Stern Jewelers, Inc, LVMH Group, Randa Accessories, Stuller, Inc., Yurman Design Inc)

Key questions answered in the study:

What are the current and future trends of the Global Costume Jewelry industry?

How the industry has been evolving in terms of end-user demand and application areas?

How the competition has been shaping across the countries followed by their comparative factorial indexing?

What are the key growth drivers and challenges for the Costume Jewelry industry?

What are the customer orientation, purchase behavior, and expectations from the Costume Jewelry firms across various regions? 

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