The global market for Costume Jewelry is projected to reach US$42 billion by 2024, driven by the undying significance of personal adornment to enhance beauty, personality and style; rising preference for affordable and stylish jewelry; growing population of fashion conscious teenagers; and entry of popular apparel brands in the fashion jewelry space. Similar to the changing fashion fads in clothing, trends in costume jewelry are also changing rapidly. Currently in vogue are unique, handcrafted jewelry designs in bold colors. Demand for unconventional zinc alloy jewelry remains strong supported by the growing base of fashion conscious teenagers. Antique and floral motifs continue to inspire evergreen interest among consumers. Rising purchasing power of fashion conscious, financially independent working women and youth will continue to encourage the entry of major fashion houses into the field of fashion jewelry and accessories. Increasing penetration of smartphones, emergence of e-commerce apps, and the ensuing rise of online shopping is spurring the importance of Internet as an important retail channel in the jewelry space. Growing preference among men to stay stylish and trendy is also encouraging sales of men’s fashion accessories. The United States represents the largest market worldwide. Women in the country prefer less aggressive, inexpensive yet highly fashionable, unique pieces of jewelry that helps accentuate style, appearance and personality. Asia-Pacific ranks as the fastest growing market with a CAGR of 7.2% over the review period, led by factors such as religious and ritualistic use of jewelry in Asian cultures and the ensuing demand for ethnic costume jewelry; spiritual dimensions of ornamentation in Asian cultures; growing trend towards jewelry gifts; improving standard of living; and rise in discretionary spending by women on fashion accessories.
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Company and Industry News & Stories
- Fura Gems Acquires Ruby Mining Licenses in a Move to Strengthen its Presence in the Ruby Market
- With the Aim to Bring Innovation to Affordable Jewellery, PANDORA Starts Triple Crafting Facility in Bangkok
- PANDORA Introduces PANDORA Reflexions, a Flat Bracelet in Precious Metals, in Sterling Silver, PANDORA Rose, and PANDORA Shine Metals
- Buckley London Launches London Autumn Winter Contemporary Yet Timeless 2018 Collections in Singapore
- Gangsu Gangtai Holding Acquires Majority Stake in Buccellati in a Move to Reinforce Buccellati’s International Presence
Outlook in Key Market Segments
- Through 2024, Necklaces, Bracelets, & Chains will remain the largest market, followed by Rings.
- Ear Rings are projected to witness the fastest growth supported by continuous improvements in craftsmanship and innovations in design and style.
Product Definition & Scope
- Costume jewelry is typically described as any article of human ornamentation that is not made from precious metals or stones. In other words, Costume jewelry is “jewelry made of less valuable materials, including base metals, glass, plastic, and synthetic stones, in place of more valuable materials such as precious metals and gems. These items are usually, but not always, inexpensive, and often flashy”. Costume jewelry is also referred to as imitation and fashion jewelry.
Timeline for Analysis
- Market Estimates and Forecasts for 2016-2024
- Historic Review 2011-2015
Geographic Markets Analyzed
- US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, and Rest of Asia-Pacific), Latin America (Brazil and Rest of Latin America), and Rest of World
Market Segmentation & Classification
- Product Segments:
- Ear Rings, Necklaces, Bracelets & Chains, Rings, Brooches, Pendants & Pins, Cuff Links & Studs, and Other Costume Jewelry
- Buckley London
- GIANNI VERSACE S.p.A
- Giorgio Armani S.p.A
- H & M Hennes & Mauritz AB
- K&M Accessories
- LVMH Moët Hennessy - Louis Vuitton
- Swarovski Group
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