Insights on the Costume Jewelry Market
Persistence Market Research recently published a market study that offers critical insights related to the growth prospects of the Costume Jewelry Market during the forecast period 2020. The report takes into account the historical and current market trends to evaluate the top factors that are likely to influence the growth of the market in the upcoming years.
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As per the report, the global Costume Jewelry Market reached a value of ~US$ XX and is likely to surpass a market value of ~US$XX by the end of 2029. Further, the report reveals that the Costume Jewelry Market is set to grow at a CAGR of ~XX% during the forecast period 2020.
Critical doubts related to the Costume Jewelry Market addressed in the report:
- What are the leading factors that are currently accelerating the growth of the Costume Jewelry Market?
- What are the marketing strategies adopted by market players in different regions?
- The market in which region is slated to experience robust growth during the forecast period?
- Why are market players aiming to solidify their presence in region 1?
- What is the estimated value of the global Costume Jewelry Market in 2019?
Segmentation of the Costume Jewelry Market
The report bifurcates the Costume Jewelry Market into different segments to provide a clear understanding of the various aspects of the market.
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Important insights present in the report:
- Domestic and global presence of top-tier market players in the Costume Jewelry Market
- Detailed analysis of the growth trajectory of the various market segments
- Growth prospects of the Costume Jewelry Market over the forecast period
- Influence of government and regulatory policies on the Costume Jewelry Market in different regions
- Recent developments in the Costume Jewelry Market in terms of innovation, product development, technology and more
Top companies operating in the worldwide costume jewelry market include Buckley Jewelry Limited, Avon Products Inc., H. Stern Com & Ind S.A., Channel S.A., Stuller Inc., Billig Jewelers Inc., The Colibri Group, Cartier SA, Swank Inc., Louis Vuitton North America Inc., Yurman Design Inc., and Gianni Versace S.p.A.
Presence of numerous independent costume jewelry labels worldwide amounts to flux of novel designs and patterns in the overall costume jewelry market. Besides independent flagship stores, independent costume jewelry labels retail via e-commerce to expand outreach. Limited-edition pieces created by independent costume jewelry labels that are mostly affordable is spawning demand from middle-class consumers. Designs and patterns created by independent jewelry labels are mostly inspired by real-life objects related to history, nature. Such design innovations that are appealing to discerning modern consumers are providing competition to established brands in the costume jewelry market.
Costume Jewelry Market – Key Trends
Vast rise in disposable income and excessively increasing spending on fashion accessories that influences looks are some factors fuelling growth of costume jewelry market. Availability of costume jewelry in excessively large number of designs and in different materials to suit individual pockets also accounts for its huge demand.
Large scale manufacture of high quality costume jewelry is a global affair. From sourcing of raw material to design and manufacture to distribution and selling, operations in the costume jewelry industry extends across geographies. Raw material for costume jewelry is mostly sourced from Africa, Australia, and Canada, manufacturing in China and India, and large-scale selling in North America and Europe.
Penetration of cable television among the masses in emerging economies has dramatically influenced dressing up and styling sense of individuals. This, has indirectly spurred sales of costume jewelry. Individuals of all classes, including from weak economic backgrounds tend to spend considerable amount of money on affordable costume jewelry to imitate characters of popular TV soaps.
In India, presence of a large young population with an average age of 29 years is a key factor behind large sales of affordable costume jewelry.
Costume Jewelry Market – Regional Outlook
Asia Pacific holds large share in the global costume jewelry market mainly because China and India are key manufacturing hubs of costume jewelry. In particular, India is a big center globally for designing and manufacture of jewelry of all types. Individuals in India have been traditionally spending excessively large amount of money on jewelry made of expensive materials such as gold and diamond for weddings and festivals. However, with skyrocketing prices of these valuable metals, individuals are increasingly shifting to costume jewelry that are at par in terms of design and craftsmanship.
Europe being the world’s fashion capital is another key market for costume jewelry. The region being home to some of the world’s top-rated jewelry brands validates its large share in the global costume jewelry market.
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This post was originally published on Space Market Research