Costume Jewelry Market: Current Analysis and Forecast (2021-2027)
Emphasis on Product (Ankle Length, Calf Length, Knee Length); Type (Regular Socks, Smart Socks); Material Type (Polyester, Cotton, Nylon, Spandex, Lycra, Others); Distribution Channel (Online, Offline); Application (Men, Women); Region/Country
Costume Jewelry Market was valued at US$ 30 billion in 2020 and is expected to grow at a CAGR of 7% over the forecast period (2021-2027). Costume jewelry is largely made of brass, cast iron, nickel, plastic beads, and stones. A rise in the gold prices coupled with the promulgating production of nickel and other materials is leading to the growth of the market. Also, less awareness among Indians about customs clearance norms has worked in favor of costume jewelers in several countries including India. As per a study, the costume jewelers say that they have clocked 20-30% growth in the current fiscal with women from affluent households embracing such jewelry for attending weddings and parties in foreign locales.
The costume jewelry market is gaining traction on account of the rise in disposable income, rising working women, and rising fashion consciousness among end-users. As per the World Bank, the women’s labor force in North America increased from 45.9% in 2015 to 46.28% in 2019. Moreover, change in packaging styles of jewelry products fuels the costume jewelry market growth. In addition, aggressive advertisements and celebrity endorsement have helped the costume jewelry industry to pave its way toward growth. As per the estimation, each year, about 50 million Americans buy Fashion jewelry.
Global, Gold Price Trend (USD per Ounce), 2016-2021
Avon Products, Inc., Buckley London, Swarovski Group, DCK Group, Giorgio Armani S.p.A., H.Stern Jewelers, Inc., LVMH Group, Randa Accessories, Stuller, Inc., and Yurman Design Inc., etc, are some of the prominent players operating in the Costume Jewelry market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products.
Insights Presented in the Report
“Amongst Product Type, Necklace and Chain segment holds the major share”
Based on the Product Type, the market is fragmented into Necklaces & Chains, Earrings, Rings, Cufflinks & studs, Bracelets, and Others. The necklace and Chain segment dominated the market and captured XX% market share in 2020. Moreover, the market is expected to reach USD XX Mn by 2027. However, the rings segment would witness the exhibit CAGR during the forecast period. The major reason for the popularity of this jewelry is the growing interest of the consumers in the intricate designs and details of the rings. Additionally, rings are perceived as stylish and elegant
“Amongst Gender, Female segment to dominate the market during the forecast period”
Based on the Gender type, the market is mainly fragmented into Male and females. The Female segment grabbed XX% market share and captured US$ XX Mn in 2020. Moreover, the market of this segment is expected to proliferate with a CAGR of XX% in the forthcoming coming period of 2021-27. However, the Men segment is expected to witness exhibit growth in coming years owing to the availability of a wide range and varieties of men’s Jewelry is offered in the market with masculine designs capturing a sense of effortless cool.
“Amongst Mode of Sale, Offline segment grabbed Major Market share in 2020”
Based on Mode of Sale, the market is mainly fragmented into Online and Offline. In 2020, the offline segment grabbed the major market share and dominated the market. The segment gathered an XX% revenue share in 2020.
“Asia-Pacific region represents one of the largest markets of Costume Jewelry market”
For a better understanding of the market dynamics of the Costume Jewelry market, a detailed analysis was conducted for different regions across the globe including North America, Europe, Asia Pacific, and the Rest of the world. Asia Pacific dominated the market and generated revenue of US$ XX Million in 2020 owing to the rising number of working women and surging fashion consciousness.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts
- The report presents a quick review of overall industry performance at one glance
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
- The study comprehensively covers the market across different segments
- Deep dive regional level analysis of the industry
Customization Options:
The Costume Jewelry Market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
Table of Contents
Analyzing the historical market, estimation of the current market, and forecasting the future market of the Costume Jewelry Market were the three major steps undertaken to create and analyze the demand for Costume Jewelry across major regions. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the Costume Jewelry market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/ bottom-up approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detailed secondary study was conducted to obtain the historical market size of the Costume Jewelry through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the Costume Jewelry market, we conducted a detailed secondary analysis to gather historical market insights and share for different brewery sizes and Forms for major regions. Major segments included in the report are Product Type, Gender, and Mode of Sale. Further region and country-level analyses were conducted to evaluate the overall adoption of Costume Jewelry across the globe.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of Costume Jewelry. Further, we conducted factor analysis using dependent and independent variables such as surging disposable income, rising fashion consciousness, etc., A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, merger and acquisition, business expansion, and product launches in the Costume Jewelry industry across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the Costume Jewelry market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weightage was assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e. bottom-up/ top-down approach was applied to arrive at the market forecast about 2027 for different segments and subsegments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of value (US$) and the adoption rate of Costume Jewelry across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the Costume Jewelry market in terms of services offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the Costume Jewelry market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of Product Type, Gender, and Mode of sale of the Costume Jewelry market.
Main Objective of the Costume Jewelry Market Study
The current & future market trends of Costume Jewelry were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of Costume Jewelry in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of product type, gender, and mode of sale
- Define and analysis of the regulatory framework for the Costume Jewelry industry
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
- Analyze the current and forecast market size of the Costume Jewelry market for the major countries
- The major region studied in the report includes North America, Europe, Asia- Pacific and Rest of the World.
- Company profiles of the Costume Jewelry market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry
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