The "Costume Jewelry Market - By Product Type, By Distribution Channel, and By Region - Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 - 2026" report has been added to ResearchAndMarkets.com's offering.
The global Costume Jewelry Market, which accrued revenue worth 26.53 (USD Billion) in 2019, is slated record the CAGR of nearly 6.3% over the period from 2020 to 2026.
The report offers assessment and analysis of the Costume Jewelry Market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, sales estimates, opportunities, evolving trends, and industry-validated data. The report offers historical data from 2017 to 2019 along with a forecast from 2020 to 2026 based on revenue (USD Billion).
Costume jewelry is made up of inexpensive materials as compared to precious jewelry like diamond, platinum, and gold as well as pearls or gems. The costume jewelry is also referred as trinket, junk jewelry, imitation jewelry, and fashion jewelry. The product is produced through the use of raw materials including glass, beads, ivory, metals, plastic, synthetic stores, and semi-precious stones. Some of the other raw substances used in producing costume jewelry include pins, backings, and fabricated metals.
In addition to this, pearls as well as semi-precious metals like aluminum, brass, and silver are also utilized in production of costume jewelry. The latter has gained tremendous popularity among women and teenagers as well as corporates.
Market Growth Dynamics
Oscillating costs of gold and surge in the costs of diamond as well as other precious metals will drive the market demand over the forecast timespan. Surge in awareness pertaining to new fashion trends and acceptance of new as well as changing lifestyles along with rise in the per capita income of the people will steer the business growth over the coming years. In addition to this, easy access to colored stone jewelry at reduced costs and less maintenance charges will create new growth opportunities for the market in the foreseeable future.
Moreover, a prominent inflation in the product usage among the working population across the globe will embellish the market trends. In addition to this, thriving ecommerce activities and increase in the web penetration in distant places has created huge growth potential for untapped cosmetics market in rural areas and this in turn will amplify the costume jewelry market growth over the forecasting years.
However, bulging raw material costs, escalating passenger security issues at airports, unorganized supply chain management activities, and changing trade laws will put brakes on the market elevation over the estimated timeframe. Nonetheless, lower production costs of the costume jewelry will nullify the negative impact of the hitches on the market growth and create new horizons of growth for market over the forthcoming years.
North American Market To Experience Noteworthy Growth Over 2020-2026
The growth of the market in North America over the forecast timespan is attributed to humongous product demand in the countries like the U.S. along with rise in the promotional activities of the product in the region. Apart from this, rise in the consumer spending on jewelry will proliferate the market demand in region in the near future.
Key players profiled in the report are
Buckley Jewellery Limited
Yurman Design Inc.
Gianni Versace S.p.A.
Billig Jewelers Inc.
Avon Product Inc.
The global costume jewelry market is segmented as follows:
By Distribution Channel
By Product Type
Necklace & Chain
Cufflinks & Studs
Rest of Europe
Rest of Asia Pacific
Rest of Latin America
Middle East & Africa
Rest of Middle East & Africa
For more information about this report visit https://www.researchandmarkets.com/r/fs85ue
View source version on businesswire.com: https://www.businesswire.com/news/home/20201019005482/en/
Laura Wood, Senior Press Manager
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