Costume Jewelry Market Analysis Report By Type, By End User, By Distribution Channel And Segment Forecasts From 2019 To 2025

Industry Insights

The global costume jewelry market size was estimated at USD 25.2 billion, in 2018 and is projected to grow at a CAGR of 6.5% from 2019 to 2025. The increasing fashion trends, changing lifestyles along rising income levels of consumers are major factors contributing to the market growth.

Furthermore, the growing interest of working individuals towards jewelry products is expected to boost the market growth. These products are also available at affordable price rates and have demand from working women, youth, and corporate people. This trend is anticipated to propel the product demand in the coming few tears. Additionally, continuous price variations in silver and gold is a key factor driving the market growth.

For example, in India, the price of gold gets increased by 11.5% per year. Thus, it is challenging for the economic class groups to buy gold especially in countries such as India, where there is a high demand for jewelry ornaments. These factors are anticipated to boost demand for costume jewelry products in the next few years

The growing internet penetration, and rural, urban development have a positive impact on the cosmetics industry. For instance, jewelry product through online retailer has seen growth over 15.0% in the recent few years. Furthermore, increasing demand from men for the product is expected to propel market growth.

However, the rising cost of raw materials, FAD items is hindering the market growth. The unorganized supply chain also possesses a negative impact on the growth of the market. The rising number of online retailers is anticipated to provide huge growth opportunities for manufacturers in the market.

End-User Insights

Based on end-user, the costume jewelry market is bifurcated into men and women. In 2018, the women segment held the highest market share of over 59.0% in the overall market.  Jewelry is considered a key element in the woman’s outfit. Furthermore, the growing price of diamond and gold has attracted women to costume jewelry. The increasing trend of luxury jewelry, especially among corporate women is also expected to boost the market growth.

Distribution Channel Insights

Based on the distribution channel, the market for costume jewelry is bifurcated into offline stores and online stores. In 2018, the offline store's channel held the largest market share of over 74.0% in the overall market. This segment is dominant owing to the availability of wide products under one roof. The consumer also prefers to visit offline stores for personalized product designs.

Online channel is projected to grow at the highest CAGR of 7.1% from, 2019 to 2025.  The growing number of internet users across rural and urban areas is a key factor driving the growth of the segment.

Type Insights

The costume jewelry market is divided into necklaces, bracelets, rings, earrings, and others depending on the type of the product. In 2018, the ring-type accounted for the largest market share of 33.6% in the overall market. Owing to the rising demand for different gems, rings demand is projected to increase especially in countries such as India in the next few years.

Earring jewelry products are projected to grow at the CAGR of 6.9% from, 2019 to 2025. The growing popularity among the youth population is particularly in women is anticipated to proliferate the product demand in the next few years. In India, there is a huge demand for earrings as they are widely used by all age groups of women which in turn is boosting the market growth.

Regional Insights

The Asia Pacific region held the largest market share of over 35.0%, in 2018 and is also estimated to remain the leading shareholder over the forecast period, 2019 to 2025. In the region, India is projected to grow at a CAGR of 6.2% during the forecasted period. The availability of a wide variety of products for all age groups is a key factor driving the growth of the market.

Europe is projected to grow at the highest CAGR of 8.0% from 2019 to 2025. Europe is known as the fashion capital of the world and rising demand for premium and traditional ornaments in jewelry is a primary factor driving the market growth in the region. Top companies are focusing on designing new innovative designs for their consumers.

Costume Jewelry Market Share Insights

Leading players in the market include Louis Vuitton, Premier Designs, Cartier, Silgan Azuli Skye, Sabika, Yanbal, Stella & Dot, Park Lane, Lulu Avenue, and Silpada. The companies in the market are focusing on developing new products as per the fashion style changes.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2015 to 2025. For this study, Million Insights has segmented the global costume jewelry market report based on 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
        • U.S.
    • Europe
        • Germany
        • Italy
    • the Asia Pacific
        • China
        • India
    • Central & South America
        • Brazil
    • Middle East & Africa (MEA)
        • UAE