Global Costume Jewelry Market to Reach US$ 58.7 Billion by 2032, Impelled by Surging Fashion Consciousness Among Consumers

July 14, 2022 | Retail

IMARC Group’s latest report, titled “Costume Jewelry Market Report by Product Type (Rings, Necklaces and Chains, Earrings, Cufflinks and Studs, Bracelets, and Others), Gender (Female, Male), Distribution Channel (Offline, Online), and Region 2024-2032,” finds that the global costume jewelry market reached a value of US$ 35.2 Billion in 2023. Costume jewelry, also known as fashion jewelry, comprises accessories or decorative items generally made using simulated stones and semi-precious base metals, such as brass, copper, silver and aluminum, that can easily bend and tarnish. It can also be made from inexpensive materials, including pearls, beads, non-precious metals, synthetic stones, ivory, plastic, terracotta, glass, textiles, leather, and metals plated with precious metals, like gold. Some most commonly available types of costume jewelry include earrings, bracelets, anklets, finger and nose rings, bangles, and necklaces. Nowadays, costume jewelry is widely worn for personal adornment, improving aesthetics, and complementing specific outfits, garments, and current fashion trends.

Global Costume Jewelry Market Trends:

The surging fashion consciousness among consumers, improving lifestyles and increasing purchasing power represent the primary factor driving the market growth. In addition, with the expanding working population, there has been a significant rise in the demand for affordable accessories and jewelry pieces. Along with this, the growing awareness regarding personal appearance among individuals and the rising acceptance of men’s costume jewelry have augmented the product demand. Furthermore, several key players are experimenting with different semi-precious stones, beads, and metals to provide a range of innovative costume jewelry in new designs and at affordable prices. In line with this, extensive investments in aggressive promotional activities, such as celebrity endorsements, online ads, and discount offers, have propelled the market growth. Besides this, the growing popularity of customized costume jewelry engraved with specific quotes, names, designs, and patterns to add emotional connection or for gifting purposes has accelerated the product adoption rate. Other factors, including the escalating demand for luxury jewelry among corporate women, changing fashion trends, rising number of metrosexual men, surging social media influence, increasing internet penetration, and easy product availability via e-commerce platforms, are also providing a positive thrust to the market growth. Looking forward, IMARC Group expects the market value to reach US$ 58.7 Billion by 2032, expanding at a CAGR of 5.7% during 2024-2032.

Market Summary:

The market has been segregated based on the product type into rings, necklaces and chains, earrings, cufflinks and studs, bracelets, and others.
Based on gender, the market has been bifurcated into female and male.
On the basis of the distribution channel, the market has been classified as offline and online channels.
Region-wise, the market has been divided into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
The competitive landscape of the market has also been analyzed, with some of the key players being Avon Products Inc. (Natura & Co), Buckley London, Chanel, Compagnie Financière Richemont SA, David Yurman Enterprises LLC, Gianni Versace S.r.l. (Capri Holdings Limited), Giorgio Armani S.p.A., H & M Hennes & Mauritz AB, H. Stern, LVMH Moët Hennessy Louis Vuitton, Pandora A/S, Prada S.p.A., Stuller Inc., and Yanbal.

Report Scope:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Billion
Segment Coverage	Product Type, Gender, Distribution Channel, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	Avon Products Inc. (Natura & Co), Buckley London, Chanel, Compagnie Financière Richemont SA, David Yurman Enterprises LLC, Gianni Versace S.r.l. (Capri Holdings Limited), Giorgio Armani S.p.A., H & M Hennes & Mauritz AB, H. Stern, LVMH Moët Hennessy Louis Vuitton, Pandora A/S, Prada S.p.A., Stuller Inc. and Yanbal
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Global Costume Jewelry Market to Reach US$ 58.7 Billion by 2032, Impelled by Surging Fashion Consciousness Among Consumers

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