Costume Jewelry Market Segmented by Product Type, Channel, Country, manufacturers and Industry Forecast till 2025.
The global costume jewelry market size is expected to reach USD 39.2 billion by 2025, expanding at a CAGR of 6.5% in the forecast period, according to a new report by Grand View Research, Inc. Growing fashion consciousness, increasing number of working women, and rising disposable income are some of the factors for the market growth.
On the basis of type, the ring segment dominated the market with a share of 33.6% in 2018. Wide variety, application, and low cost of the product as compared to other product types is likely to fuel the segment growth in the forecast period. Earrings are expected to register a CAGR of 6.9% in the forecast period. Trend of changing the product on a daily basis among working women has led to the requirement of a variety of products, thereby influencing the product demand.
The offline segment is dominated the market and accounted for 74.4% share of the overall revenue in 2018. Traditional method of shopping, presence of a wide variety of products, and option of customization as per the customer preference are anticipated to propel the segment growth in the near future. The online segment is likely to expand at the fastest CAGR of 7.1% in the forecast period. Introduction of a large number of online platforms in recent times with trusted dealers is expected to drive the segment.
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Asia Pacific was the largest regional costume jewelry market in 2018, accounting for 35.0% share of the total revenue. Growing demand among working women as well as men in the emerging countries such as India and China, which account for 34% of the global population, is driving the market in the region. The market in Europe is expected to expand at a CAGR of 8.0% in the forecast period. Presence of leading players in the region and frequent innovation in the designs are boosting the market growth in the region.
Costume Jewelry Market Report Highlights
- By type, the ring segment is anticipated to expand at a CAGR of 7.1% in the forecast period
- North America was the second largest regional costume jewelry market in 2018, accounting for 25.0% share of the overall revenue
- Based on distribution channel, online stores are expected to register a CAGR of 7.1% in the forecast period.
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Grand View Research has segmented the global costume jewelry market on the basis of type, distribution channel, end user, and region.