Costume Jewelry Market Size, Share & Trends Report

Costume Jewelry Market Size, Share & Trends Analysis Report By Type (Ring, Earring), By End User (Men, Women), By Distribution Channel (Online Stores, Offline Stores), And Segment Forecasts, 2019 - 2025

  • Published Date: Jul, 2019
  • Base Year for Estimate: 2018
  • Report ID: GVR-3-68038-125-2
  • Format: Electronic (PDF)
  • Historical Data: 2015 - 2017
  • Number of Pages: 80

Report Overview

The global costume jewelry market size was valued at USD 25.2 billion in 2018 and is expected to expand at a CAGR of 6.5% over the forecast period. Changing lifestyle, increasing fashion consciousness, and growing disposable income are some of the factors likely to boost market growth in the forecast period.

U.S. costume jewelry market

Furthermore, increasing demand for the product due to the growing working population is propelling the market demand in recent times. An increasing number of manufacturers have brought a lot of affordable options thus, increasing popularity among the youth, corporate people, and working women. This has led to an increase in demand for the product in the last five years. Frequent price change in gold and silver has also been a prominent factor for the rise in demand for the product.

For instance, the price of gold has increased by an average of 11.5% annually in India. It is difficult for the economic class to purchase gold in countries such as India, where there is a high preference for wearing jewelry items. Thus, demand for costume jewelry has boosted up in the region, thereby influencing the overall market demand in the near future. These factors are anticipated to fuel the costume jewelry market growth in the forecast period.

Growing e-commerce and internet penetration in rural as well as urban areas have also impacted the demand for cosmetics in recent time. For instance, the online sale of jewelry items has witnessed a growth of 15.0% in the last few years. Thus, the market demand for the product has also surged due to increasing internet penetration in the last few years. Furthermore, rising demand for the product in the men segment has fueled the market growth in the forecast period.

However, increasing raw material prices and FAD products in the market can restrain the growth in the near future. The industry has witnessed a sudden steep in the price of the product due to an unorganized supply chain in the market. These factors can hamper the market growth in the stipulated time frame. Although, increasing online platforms and trusted sellers are opening a new opportunity for the market players, thereby driving the market to the positive side.

End-User Insights

On the basis of the end-user, the costume jewelry market is segmented into men and women. The women segment held the largest share of 59.0% in 2018. The key reason for the segment growth is the usage of different varieties of jewelry for different occasions. Jewelry is very important for female users as it highlights their outfit and makes it look better. The increasing price of different materials such as gold and diamond has shifted the focus of many women towards costume jewelry, which can be easily replaced as per the dress and occasion without investing much. The growing trend of luxury jewelry among corporate women for their day to day looks is also likely to drive the segment in the forecast period.    

Distribution Channel Insights

On the basis of distribution channel, the market is further divided into online stores and offline stores. The offline store segment dominated the market and accounted for 74.4% share of the total revenue in 2018. The traditional way of shopping has dominated the market due to the availability of a wide variety of products and bargaining features. In the product category of jewelry, consumers prefer to visit offline stores in order to get their products customized as per their preferences.

The online segment is expected to expand at the fastest CAGR of 7.1% in the forecast period. Growing usage and penetration of the internet in the rural market has been the key factor for segment growth. The introduction of online trusted dealers and the hectic schedule of young consumers are also driving the market to the positive side.

Type Insights

The ring segment dominated the market and accounted for a 33.6% share of the overall revenue in 2018. Increasing demand for rings, particularly in countries such as India, due to high demand for various gems is driving the market in the forecast period. The ring does not require much customization and has general designs for men. Increasing demand for the product among men is expected to fuel the segment growth in the coming years. The fact that the ring is the least costing jewelry and widely accepted is also fueling the market growth with time.

Global costume jewelry market

The earring segment is expected to expand at a CAGR of 6.9% in the forecast period. The increasing popularity of the product among the youth especially working women are propelling the demand for the segment in the near future. The introduction of a wide variety of designs of the product and the trend of changing jewelry on a daily basis are some of the prominent factors for market growth. In countries such as India, the earrings are widely accepted by women of all age groups, thus the demand for the product is high in the region influencing the overall market growth of the segment.

Regional Insights

In 2018, Asia Pacific led the market with a share of 35.0% and is anticipated to expand at a significant CAGR in the near future. In Asia Pacific, India contributes to the majority of share and is expected to register a CAGR of 6.2% over the forecast period. A wide variety of products, along with huge acceptance among all the age groups, is a key factor for the market growth in the region.

Europe is expected to expand at the fastest CAGR of 8.0% in the forecast period. Europe being the fashion capital and acceptance of traditional jewelry are the key factors driving the demand for the product. Various global players such as Bulgari are present in the Europe market are introducing various new designs for the customers, thus influencing the market growth in the region.

Key Companies & Market Share Insights

Louis Vuitton, Cartier, Sabika, Silgan Azuli Skye, Premier Designs, Yanbal, Park Lane, Silpada, Stella & Dot, and Lulu Avenue are some of the major market players in the industry. The market presents medium to high entry barriers due to presence of leading market players and the set-up cost involved in it. The main goal of the manufacturer is to engage its customers with new designs and affordable prices. Giants present in the same region such as LMVH and Kering Richemont in the Europe market are planning to merge and serve the customers in the near future.

Costume Jewelry Market Report Scope

Report Attribute

Details

Market size value in 2020

USD 28.30 billion

Revenue forecast in 2025

USD 39.20 billion

Growth Rate

CAGR of 6.5% from 2019 to 2025

Base year for estimation

2018

Historical data

2015 - 2017

Forecast period

2019 - 2025

Quantitative units

Revenue in USD million/billion and CAGR from 2019 to 2025

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Distribution channel, type, user, region

Regional scope

North America; Europe; Asia Pacific; Central & South America; Middle East & Africa

Country scope

U.S.; Italy; Germany; China; India; UAE; Brazil

Key companies profiled

Louis Vuitton; Cartier; Sabika; Silgan Azuli Skye; Premier Designs; Yanbal; Park Lane; Silpada; Stella & Dot; Lulu Avenue

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Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country; regional & segment scope.

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Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, Grand View Research has segmented the global costume jewelry market report on the basis of distribution channel, type, end-user, and region:

  • Distribution Channel Outlook (Revenue, USD Billion, 2015 - 2025)

    • Online Stores

    • Offline Stores

  • Type Outlook (Revenue, USD Billion, 2015 - 2025)

    • Necklace/Chain

    • Ring

    • Bracelet

    • Earrings

    • Others

  • End-User Outlook (Revenue, USD Billion, 2015 - 2025)

    • Men

    • Women

  • Regional Outlook (Revenue, USD Billion, 2015 - 2025)

    • North America

      • The U.S.

    • Europe

      • Germany

      • Italy

    • Asia Pacific

      • China

      • India

    • Middle East & Africa

      • UAE

    • Central & South America

      • Brazil

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