What is Wedding Jewelry Market?
With a massive client base, the jewelry industry has made it possible for the manufacturers to supply their products to a huge market and hence earn profits. Also, the introduction of new variants in the designs and the evolving fashion trends are appealing to more and more customers. Therefore the manufacturers are influencing this daily change in the fashion trends for the innovation of more products and great designs so as to attract the customers. The increase in the cross-cultural designs is the ongoing trend which is achieving high popularity in the jewelry market. The rising demand for the pieces of jewelry that are inspired by various other cultures namely Italian, European, and others is also expected to drive the wedding jewelry market over the period. Furthermore, the rise in urbanization has also given rise to the changing consumer behavior associated with the accessories, like keeping it to a minimal level with sophistication and also maintaining the style statement. Such growing factors have hence led to considerable demand for various kinds of jewelry like earrings, pendants, and rings.
The market study is being classified by Type (Necklace, Ring, Earrings, Bracelets and Others) and major geographies with country level break-up.
Cartier (France), Tiffany (United States), Tanishq (India), Lao Feng Xiang (China), Chopard (Switzerland), Malabar Gold and Diamonds (India), Tiffany & Co. (United States), Lukfook (Hong Kong), Ming (United Kingdom), Meister Schmuck (Switzerland), LVMH Moët Hennessy (France), Kalyan Jewellers (India), Chow Tai Seng (China), Harry Winston Inc. (United States) and Forevermark Limited (United Kingdom) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are David Yurman (United States), Tse Sui Luen Jewellery (Hong Kong), Van Cleef & Arpels (Netherlands) and Charles & Colvard (United States).
With the increasing demands for traditional and aesthetic wedding jewelry every industry is working on making their products more efficient and worth and above given top firms are providing a helping hand for the same. The top leading firms are also enhancing their services by means of various technological tools so as to get better productivity. There is perfect competition among the top leading firms as they are providing a variety of products to their customers. Also, the reliable option of mergers and acquisitions will be a major factor in changing the business strategies in the market. Research Analyst at AMA predicts that European Vendors will contribute to the maximum growth of Global Wedding Jewelry market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Wedding Jewelry market by Type, Application and Region.
On the basis of geography, the market of Wedding Jewelry has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Growth in the Spending on Wedding Jewelry by the Low and Middle-Income Families
- Rising Population of Fashion Admirers
Market Trend
- Growing Demand for Aesthetically Appealing Wedding Jewelry
- Increasing Demand for Traditional and Customized Wedding Jewelry
- Rising Customer Inclination towards Studded Jewelry Is a Key Factor Boosting the Growth of Wedding Jewelry Market
Restraints
- Occasional/Seasonal Demand for Wedding Jewelry
- High Cost of Premium Wedding Jewelry
- Rising E-Commerce Fraud and Lack of Knowledge about Hallmarks on Jewelry
Opportunities
- Introduction of Innovative Wedding Jewelry
- Rising Online Services of Jewelry
- Manufacturers Are Focusing on Couple Bracelets like Platinum or Diamond Love Bands to Boost Sales
Challenges
- Maintaining the Value of Unsold Wedding Jewelry
- Growing Dominance of Local Market Players
Key Target Audience
Wedding Jewelry Makers, Raw Materials Suppliers/Distributors, Government Agencies, Potential Investors, Market Research Firms and Others