Luxury Jewelry Market Share, Size, Regional Revenue, Competitor Analysis, Growth Opportunities, Forecast
Market Highlights:
Luxury jewelry is a style statement among
the consumers, which leads to increasing demand for different styles and
designs in the luxury jewelry market. Implementation of new technologies such
as Computer Aided System (CAD) in the jewelry creation is expected to boost the
growth of the market. CAD technology helps manufacturers to create new and
unique jewelry designs, which in comparison to manual designs is challenging.
Hence, shifting trend of consumers towards new and fusion designs is expected
to boost the market.
Based on type, the global luxury jewelry
market share has been segmented into necklace, ring, bracelet, earrings and
others. The earring segment accounted for the maximum market share in 2017 and
is expected to grow at a high rate during the forecast period as there is an
increasing fashion trend where women prefer earring as the statement jewelry
with their outfit, owing to the factor that earrings are easier to carry and
match to the outfit. Ring segment also held a substantial share as these,
products are mostly preferred by consumers as an investment and also as gift
product.
The global luxury jewelry market has been
segregated, by material, into gold, silver, platinum and others. The gold
segment is expected to dominate the global market during the assessment period,
as gold is most preferred metal in luxury jewelry market. According to the
World Gold Council, in 2018, 48% of the gold was utilized to manufacture
jewelry. Additionally, gold jewelry is very popular in countries such as India
and China.
The global market for luxury jewelry has
also been classified, by end-user, as men, and women. The women segment is
expected to dominate the market during the review period. Owing to the factor
that jewelry enhances the appeal of the outfit. Furthermore, people opting for
luxury products to maintain their symbol of status in the society increasing
number of working women populations in the countries such as the US, Canada,
UK, China and India, has led to rise in sales of luxury jewelry over the years.
However, there is a shift in trend, due to increasing focus of men on aesthetic
appeal to their look and self-grooming has led men investing in luxury jewelry.
The global luxury jewelry market has been
segregated, by distribution channel, into store-based and non-store based. The
store-based segment has been further segregated into multi-brand store,
specialty stores, and others. The store-based segment is expected to generate
higher revenue, with the multi-brand store sub-segment being the largest due to
the strong and widespread network of stores. The non-store-based segment is
expected to register the higher CAGR during the assessment period owing to
technological advancements in the e-commerce industry and growing consumer
preference for online retailing.
Key Players:
Some of the key players in the global
luxury jewelry market are Guccio Gucci S.p.A. (Italy), Harry Winston, Inc.
(US), Société Cartier (France), Tiffany & Co. (US), Compagnie Financière
Richemont SA (Switzerland), Buccellati Holding Italia SpA (Italy), Graff
Diamonds Corporation (UK), Bulgari S.p.A.(Italy), K. Mikimoto & Co., Ltd.
(Japan), Chopard International SA (Switzerland).
Study Full Report Details @ https://www.marketresearchfuture.com/reports/luxury-jewelry-market-6992
Regional Analysis:
On the basis of region, the global luxury
jewelry market share has been segmented by North America, Europe, Asia-Pacific,
and RoW. Asia Pacific is expected to dominate the global luxury jewelry market
owing to increasing awareness about branded jewelry. Additionally, increasing
influence of promotional campaigns through social media has led to high
adoption of modern fashion trends in consumers.
The luxury
jewelry market share in Europe is expected to grow rapidly due to factors
such as growing popularity of customized jewelry according to consumer
requirement and increasing demand for fusion of traditional jewelry with
trending fashion is expected to boost the luxury jewelry market during the
forecast period.
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