Wilmington, Delaware, July 30, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, "Costume Jewelry Market by Type (Necklaces, Earrings, Rings, Bracelets and Others), Material (Metal, Plastic, Acrylic and Gemstones), and Distribution Channel (Specialty Stores, Retail Stores, and Online Channels): Global Opportunity Analysis and Industry Forecast, 2024-2033". According to the report, the costume jewelry market was valued at $45.2 billion in 2023, and is estimated to reach $86.8 billion by 2033, growing at a CAGR of 6.8% from 2024 to 2033.
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Prime determinants of growth
The growth of the costume jewelry market is fueled by various factors such as affordability that drives the demand for consumers seeking stylish accessories without breaking the bank. Moreover, the dynamic nature of fashion trends continuously stimulates demand for new and trendy pieces. The widespread accessibility of costume jewelry through e-commerce platforms has further expanded its reach, tapping into global markets. Rising awareness and preference for sustainable options have prompted the development of eco-friendly materials and transparent supply chains, attracting environmentally conscious consumers. Collaborations with fashion influencers and celebrities amplify brand visibility and consumer engagement. Furthermore, customization options and innovative technologies enhance the shopping experience, driving further growth. Combined, these factors contribute to the resilience and expansion of the costume jewelry market worldwide.
Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2024–2033 |
| Base Year | 2023 |
| Market Size In 2023 | $45.2 Billion |
| Market Size In 2033 | $86.8 Billion |
| CAGR | 6.8% |
| No. Of Pages In Report | 360 |
| Segments Covered | Type, Material, Distribution Channel, And Region. |
| Drivers | Fashion Trends Celebrity Endorsements And Influencer Marketings |
| Opportunities | Customization And Personalization Online Retail Expansion |
| Restraint | Allergic Reactions |
Segment Highlights
The demand for necklaces is driven by several factors. Necklaces are versatile accessories that can easily enhance and complement various outfits, making them a popular choice for everyday wear and special occasions alike. Secondly, they offer a wide range of styles, from simple chains to elaborate statement pieces, catering to diverse consumer preferences and fashion trends. In addition, necklaces have a strong aesthetic appeal, drawing attention to the neckline and serving as focal points for personal expression and style. Furthermore, necklaces are often perceived as timeless accessories, transcending seasonal trends, and maintaining their relevance over time. The relatively lower cost of producing necklaces compared to other jewelry items contributes to their dominance in the costume jewelry market.
The demand for metal jewelry is influenced by multiple factors. Metal offers durability and longevity, making it a preferred choice for consumers seeking long-lasting accessories. Whether it's gold, silver, brass, or stainless steel, metal jewelry exudes a timeless elegance that appeals to a wide range of tastes and preferences. In addition, metal's malleability allows intricate designs and embellishments, catering to various style preferences and fashion trends. Moreover, metal jewelry is customized and crafted into different forms easily, from delicate filigree to bold statement pieces which offer something for every occasion and outfit.
The specialty stores dominated the distribution channel segment. Specialty stores offer a curated selection of costume jewelry, providing consumers with a wide range of styles, designs, and brands to choose from, catering to diverse tastes and preferences. This curated approach creates a unique shopping experience, allowing consumers to explore and discover new and exclusive pieces that may not be readily available on other retail channels. In addition, specialty stores often employ knowledgeable staff who can provide personalized assistance and styling advice, enhancing the overall shopping experience, and building customer loyalty. Moreover, specialty stores may host events, trunk shows, or collaborations with designers, further attracting consumers and drive the demand for costume jewelry market.
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Regional Outlook
North America holds a significant share and dominance in the costume jewelry market. The region has a strong consumer culture with a high demand for fashion accessories, including costume jewelry. North American consumers often prioritize style, affordability, and variety, making costume jewelry a popular choice for accessorizing outfits and expressing personal style. In addition, the presence of established fashion hubs such as New York City and Los Angeles drives trends and influences consumer preferences, further bolstering the demand for costume jewelry. Moreover, North America benefits from a well-developed retail infrastructure, including specialty stores, department stores, and e-commerce platforms, providing consumers with easy access to a wide range of costume jewelry options.
Players: -
- The Colibri Group
- Channel S.A
- Gianni Versace S.p.A
- Gucci Group NV
- Swarovski Group
- PANDORA A/S
- H & M Hennes & Mauritz AB
- Zara
- PRADA
- Swank, Inc.
- Cartier
- Billig Jewelers, Inc.
- BaubleBar Inc.
The report provides a detailed analysis of these key players in the global costume jewelry market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Recent Development:
- In April 2023, fashion brand Coach launched its first costume jewelry line "Coach Jewels" featuring necklaces, earrings, and bracelets made with recycled materials.
- In June 2022, BaubleBar launched an initiative in 2022 to ensure all costume jewelry is crafted using ethical and sustainable practices by 2025.
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About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry
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