Global Jewellery Market Overview:
Growing demand due to innovation in designs and changing fashion trends will help to boost the global jewelry market in the forecasted period. Jewelry refers to ornaments such as earrings, neckless, bracelets, pendants, stones, rings, and metals. Jewelry is available in the form of gold, silver, diamond, platinum, and gems. Upsurging demand for jewelry on Retail and e-commerce platform will help to boost the global jewelry market. Government initiative towards Jewellery market is helping to the triggered global market. for example, The Bureau of Indian Standards (BIS) has revised the standard on gold hallmarking in India from January 2018. The gold jewelry hallmark will now carry a BIS mark, purity in carat and fitness as well as the unit’s identification and the jeweler’s identification mark. The move is aimed at ensuring a quality check on gold jewelry.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Historical Period | 2018-2023 |
Unit | Value (USD Billion) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
High Adoption Due to Use of Computer Aided Designing (CAD), Rising Inclination Towards Smart Jewellery and Growing Demand Due to Innovation in Designs and Changing Fashion Trends
Market Growth Drivers:
Rising GDP per Capita Globally, Increasing Number of Working Women’s, Decrease Prices of Gold and Silver and Growing High Net Worth Individuals (HNWI) Population
Challenges:
Increasing Cyber Fraud and Availability of Artificial Jewellery in the Market with The Innovative Designs
Restraints:
Declining Rough-Diamond Mine Supply and People are Not Comfortable Buying Online Jewelry
Opportunities:
Rising Adoption of Blockchain Tracking System for Diamond, Improved Marketing and Promotional Strategies and Upsurging Demand of Jewellery on Retail and E-commerce Platform
Competitive Landscape:
The global Jewelry market seems to bullish due to fluctuation in prices or currancies and the economic condition of the countries. Most of the companies are relying on strategies such as mergers & acquisitions, product development, geographical expansion, technological innovation and sourcing strategies to enhance their market share.
Some of the key players profiled in the report are Chow Tai Fook Jewellery (China), LVMH (Paris), Rajesh Exports (India), Richemont (Switzerland), Signet Jewelers (Hamilton), Maria Black (Denmark), Missoma (United Kingdom), Gaviria (United Kingdom), Maria Tash (United States), Katerina Makriyianni (United Kingdom) and Swarovski (Austria). Additionally, following companies can also be profiled that are part of our coverage like Tiffany&Co (United States), Tous (Spain), Thomas Sabo (Germany), Harry Winston (United States), Cartier (France), Van Cleef & Arpels (France) and Buccellati (Italy). Analyst at AMA Research see European Vendors to retain maximum share of Global Jewellery market by 2030. Considering Market by Assortment, the sub-segment i.e. Rings will boost the Jewellery market. Considering Market by Distribution Channel, the sub-segment i.e. Online will boost the Jewellery market. Considering Market by Metals, the sub-segment i.e. Gold will boost the Jewellery market. Considering Market by Gender, the sub-segment i.e. Men will boost the Jewellery market.
Latest Market Insights:
On 7th MAy 2019, Chow Tai Fook Jewellery Group Limited, a Hong Kong Main Board listed company with 90 years of heritage, has announced the newly established Chow Tai Fook North America business hub in Boston, MA.
On 15th November 2018, Maria Tash has announced the opening of the new store The Dubai Mall’s Fashion Avenue. Maria Tash is an expert in fine jewelry designer and celebrity piercing.
Analyst View
The entry of organized players in the jewellery sector has given a lift to the industry in terms of better practices, better customer services, and better after sales service and also better price command. Till a few years ago, the jewellery industry was highly fragmented and characterized by a number of small units, run by a number of unorganized players which controls about 90% of the market share. The emergence of the organized sector has seen the market share of the unorganized sector declining. Major brands are looking for more opportunities to raise. As they are already well established in all the top tier cities and state capitals, they are now looking to enlarge base and spread to other cities and towns.
What Can be Explored with the Jewellery Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Jewellery Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Jewellery
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Jewellery market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Jewellery market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Jewellery Designer, Jewellery Manufactures, Jewellery Suppliers, Retailers, Wholesalers, Government Regulatory Bodies, Industry Associations, Government and Other Research Organizations and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.