The global jewelry market size is expected to reach USD 462.56 Billion in 2028 and register a revenue CAGR of 5.3% over the forecast period, according to a latest report by Reports and Data. Market revenue growth is primarily driven by increase in consumer preference towards affordable and fashionable jewelry. Major changes in customer behavior and purchasing patterns and rising adoption of western lifestyle are other factors boosting revenue growth of the market. Shifting consumer preference towards lightweight and customized jewelry is also expected to boost popularity of distinct collections such as regular or daily wear, work wear and fashion wear. Growing customer base of wealthy class and upper-middle class in developing countries is expected to drive demand for jewelry. Rise in disposable income in countries such as India is another factor driving demand for jewelry. Manufacturers are increasingly investing in order to offer unique design jewelry with intricate details and focusing more on product innovation due to the growing popularity of cross-cultural designs. In October 2018, Pandora, which is the largest jewelry brand in the world, introduced PANDORA Reflexions, which is a flat bracelet in precious metals. PANDORA Reflexions is available in three metals, PANDORA Shine, PANDORA Rose and sterling silver.
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Competitive Landscape:
The research report offers details about leading companies in the global Jewelry market along with global position, financial standing, license agreement, products and services portfolio and revenue contribution of each market player. Key players in the market are focusing on adopting various strategies such as mergers and acquisition, business expansion plans, new product launches, partnerships, collaborations, joint ventures to enhance their product base and gain robust footing in the market.
Some of the Leading Market Players Are Listed Below:
- LVMH Group
- Pandora A/S
- Signet Jewelers Ltd
- Stern
- Compagnie Financière Richemont SA
- The Swatch Group Ltd
- Chow Tai Fook group
- Swarovski
- Malabar Gold and Diamonds
- Harry Winston, Inc.
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Jewelry Market Segmentation based on Material Types:
- Platinum
- Gold
- Diamond
- Others
Jewelry Market Segmentation based on Product channel:
- A Ring
- Necklace
- Bracelet
- Earrings
- Others
Jewelry Market Segmentation based on Regions:
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., France, Italy, Spain, Benelux, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
- Latin America (Brazil, Rest of Latin America)
- Middle East Africa (Saudi Arabia, UAE, South Africa, Rest of Middle East Africa)
Key Features of the global Jewelry Market:
- The report offers detailed estimations at the regional level with manufacturers, consumption, sales and import/export dynamics.
- The report provides accurate details related of the manufacturers/vendors in the market, company overview, pricing analysis, financial standing, product portfolio, and gross profit of leading companies.
- Company profiling with prevalent expansion strategies, revenue generation, and recent developments.
- Optimum strategic initiatives for new players in the market.
- Manufacturing processes, suppliers, cost, rates of production and consumption, transport mode and cost structuring, and value chain analysis.
- The study also includes supply chain trends, including elaborate descriptions of the latest technological development
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