Covina, July 30, 2024 (GLOBE NEWSWIRE) -- According to Prophecy Market Insights, the global men’s jewelry market size and share is projected to grow from USD 35.87 Billion in 2024 to USD 75.9 Billion by 2034, exhibiting a compound annual growth rate (CAGR) of 8.6% during the forecast period (2024 - 2034).
Men’s Jewelry Market Report Overview & Introduction
Man's jewelry includes items such as watches, rings, Bracelets, Necklaces, cuff links, and tie clips that the opposite gender wears to bring out and complement their manly style. Unlike women's jewelry, men's jewelry has evolved based on the availability of classic as well as contemporary styles. Jewelry is made of sturdy metals such as stainless steel, leather, and beaded components alongside anodized metals like gold and silver. Through the use of jewelry, they can express their cultural affinities, personality, or social standing. The market for men's jewelry changed from being conservatism-driven and wedding ring- and cuff-link-dominated to trend-consciousness-driven, design adaptability-driven, and driven by the evolving masculine ideology. Men are developing an increasing interest in style and complementary accessories in many settings, such as parties, workplaces, and outdoor recreational activities.
Fashion houses are also introducing numerous merchandise for the male market, from chains and necklaces to rings and bracelets. Rings with stones are increasingly being worn by men, in particular wedding and signet rings. As always, there are various types to be worn at various times for various occasions, for example, beaded bracelets, chain bracelets, leather bracelets, and cuffs. Chains, pendants featuring personal engravings or religious symbols, and layered necklaces top their interest list and seem to be moving very fast in the men's jewelry business.
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Our Free Sample Report includes:
- Overview & introduction of market study
- Revenue and CAGR of the market
- Drivers & Restrains factors of the market
- Major key players in the market
- Regional analysis of the market with a detailed graph
- Detailed segmentation in tabular form of market
- Recent developments/news of the market
- Opportunities & Challenges of the Market
Competitive Landscape:
The Men’s Jewelry Market is characterized by rapid growth, technological innovation, and fierce competition. Companies are expanding their global presence, focusing on sustainability, and diversifying their service offerings to stay competitive.
Some of the Key Market Players:
- Tiffany & Co., Cartier
- Bvlgari
- Rolex
- David Yurman
- Pandora
- Chanel
- Gucci
- Louis Vuitton
- Hermès
- Zales
- Signet Jewelers
- Blue Nile
- James Avery
- John Hardy
- LVMH Moët Hennessy Louis Vuitton
- Swarovski
- Chopard
- Giorgio Armani
- Kay Jewelers
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Market Dynamics:
Drivers:
Shifting Social Conventions
- Historically, gender roles and the concept of masculinity are changing. Years ago, men used to be so against fashion, and today they also feel comfortable wearing jewelry for self-expression. This change of thinking has been due to various reasons, such as metrosexual society, media exposure to different forms of styles, and more acceptance of both genders' expressions.
A Focus on Customization
- They desire exclusivity in a piece that reflects their style or personality. Even more recently, interest has been in unique personalization with initials, birthstones, or special inscriptions custom-made on rings, pendants, and bracelets. In this fashion, there is additional sentimental value and attachment to the diamonds. These services enable firms to meet the consumer demand of having a far more personalized buying experience.
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Market Trends:
Increasing the Number of Product Categories
- Growth in the men's jewelry market is likely to happen because niche jewelry lines can focus on very specific demographics, such as sportspeople, musicians, or professionals. The more options that can be available for customization, like with initials or birthstones, the more the company will promote customer connection and self-expression, adding value to jewelry. Technology in the pieces of jewelry, like smart jewelry with health tracking facilities or wearables, is likely to attract the young generation and help brands stand out in the market.
Segmentation:
Men’s Jewelry Market is segmented based on Product, Type, Distribution Channel, and Region.
Product Insights
- There are different kinds of jewelry for men, which include necklaces, rings, earrings, bracelets, and others that are rarely used. Necklaces are more of a fashion accessory and are made of leather, stainless steel, gold, and silver. Rings can either be expensive metals or reasonably priced and are mainly used to show marital status, affiliation, or personal accomplishment. Earrings come in varying shapes and sizes, mostly set with diamonds or other stones, while made of gold, silver, and stainless steel. Bracelets are also available in varied forms to be matched or worn singly to add a touch to an ensemble. Accessories like brooches, tie bars, and cufflinks are some of the classy additions that would bring sophistication to any formal attire.
Type Insights
- Most Original Men's Jewelry is Handcrafted from High-grade, Naturally Occurring Raw Materials like Gold, Silver, Platinum, and Naturally Occurring Stones of Strength and Value. The materials used in making costume or fashion jewelry are non-precious, usually brass, glass, or stainless steel, and are sometimes referred to as artificial jewelry. These would be perfect for those who want to try out different styles, but don't want to end up blowing the bank; they have the look of real jewelry but at a much cheaper price.
Distribution Channel Insights
- Apart from this, online retailers like Amazon and eBay provide distribution of men's jewelry with convenience, extensive selection of products, and easy price comparison. The section provides access to specifications of products and user reviews. The offline distribution, on the other hand, includes brick-and-mortar stores that clients visit physically to see, test, and buy products while enjoying personalized customer care and in-store fast buying satisfaction.
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Recent Development:
- In January 2024, Louis Vuitton launched a new line of jewelry products allegedly for men but marketed as unisex. Louis Vuitton is expanding its fine jewelry offerings with a new collection named "les Gastons Vuitton". The jewelry, described as "unisex" by the luxury trunk maker, is largely aimed at a previously underrepresented male demographic with enormous commercial potential. As the name implies, this collection of 18 masculine-looking pieces was designed as a lively tribute to the House's past, in light of younger generations' more relaxed attitudes toward jewelry.
Regional Insights
- North America: With a strong culture of fashion and high disposable income, spending on luxury items in the North American market is pretty high for men's jewelry. This shall cover possible markets within the US and Canada, with a leaning towards high-end, branded, one-of-a-kind handmade jewelry.
- Asia Pacific: The region holds huge growth potential in the men's jewelry market, specifically within countries like China, India, and Japan. Rising middle-class salaries and disposable incomes, combined with a mix of modern and traditional tastes, are the major drivers of demand. Due to its richness in resources, this region also happens to be one of the largest jewelry producers in the world.
Browse Detail Report on "Men’s Jewelry Market Size, Share, By Product (Necklace, Ring, Earrings, Bracelet, Other Products), By Type (Original, Artificial), By Category (Branded, Unbranded), By Distribution Channel (Online, Offline), and By Region - Trends, Analysis and Forecast till 2034" with complete TOC @ https://www.prophecymarketinsights.com/market_insight/mens-jewelry-market-5527
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