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The cufflinks market size is estimated to grow at a CAGR of 5.93% between 2022 and 2027. The market size is forecast to increase by USD 1,514.11 million. The growth of the market depends on several factors such as the growth in online cufflink retailing and the number of experience centers globally, the high influence of celebrity endorsements on cufflink purchase decisions, and the rise in demand for French cuff shirts.
This cufflinks market report extensively covers market segmentation by type (premium cufflinks and mass cufflinks), distribution channel (mono-brand stores, department stores, hypermarkets, supermarkets, online retail, and others), and geography (Europe, North America, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
One of the key factors driving the cufflinks market growth is the rise in demand for French cuff shirts. There is a growing popularity for French cufflinks among consumers as it is an essential component in European and American men's formal wear. The increasing demand for French cuff shirts among working professionals is significantly contributing to the market growth.
Moreover, the declining trend of wearing ties has fuelled dress shirts that require cufflinks, such as French cuff shirts. As a result, it has significantly fuelled the sales of French cuff shirts as well as cufflinks. Hence, such factors are positively impacting the market. Therefore, it is expected to drive the market growth during the forecast period.
A key factor shaping the cufflinks market growth is the popularity of cufflinks as a gift item. There increase in the trend of gifting cufflinks as gift items for various events and occasions such as birthdays, anniversaries, and weddings which is significantly contributing to the market growth. In addition, there is a growing popularity for personalized cufflinks such as those with photos of the bride and groom.
Moreover, several prominent market players such as Cartier, Louis Vuitton, and Paul Smith offer cufflinks have a dedicated section for cufflinks offered as gifts. In addition, factors such as the versatility of cufflink designs and the endless personalization options have fuelled its popularity as a gifting item. Hence, such factors are positively impacting the market which in turn will drive the market growth during the forecast period.
Rising labor costs and fluctuating raw material prices are some of the key challenges hindering the cufflinks market growth. There are several prominent market players such as Prada, Giorgio Armani, Mulberry, DOLCE, and GABBANA which have established their factories in Asian countries, such as China, Indonesia, Bangladesh, and Vietnam. due to low labor costs in these regions. There is an increase in production costs in several international countries which is significantly impacting the profit margin of companies in this region.
Moreover, some of the key materials that are used in the manufacturing of cufflinks include brass, silver, copper, aluminum, textiles or leather, base metal alloys, and metals plated with gold or silver. There is a significant fluctuations in prices of these raw materials which is adding to the production cost and impacting the profit margin of manufacturers. Hence, such factors are negatively impacting the market. Therefore, it is expected to hinder the market growth during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Cufflinks Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Boucheron Holding SAS: The company offers cufflinks such as Boucheron paris crystal gold bar cufflinks, coral gold bar cufflinks, carved lapis gold cufflinks and more.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The premium cufflinks segment is estimated to witness significant growth during the forecast period. This segment mainly includes products priced at USD 150 and above. This segment is widely adopted for dress shirts and often comprises precious stones or is specially molded with exclusive metals like platinum and gold. Gold-Rosace Decor cufflinks, Rosace Decor cufflinks, and Octagonal cufflinks are some of the key product offerings in this segment.
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The premium cufflinks segment was the largest segment and was valued at USD 2,592.39 million in 2017. Several market players in the cufflinks market are launching new product offerings. For example, in June 2020, David Gotlib launched 14 new diamond cufflinks. Several other market players are also collaborating with cufflinks companies to offer cufflinks with their services. For example, in February 2020, Papa John's, the pizza chain, launched crust-encrusted cufflinks. Hence, such factors are expected to fuel the growth of this segment which in turn will drive the market growth during the forecast period.
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APAC is estimated to contribute 31% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Another region offering significant growth opportunities to market players is Europe. One of the main factors that are significantly contributing to the global cufflinks market in Europe is the traditional adoption of cufflinks as part of formal wear. Some of the main countries in Europe which are significant contributors to the market growth are the UK, France, and Germany. In addition, the availability of the product is high in the region which is positively impacting the market.
Furthermore, there is an increasing preference by customers for online platforms for purchasing expensive products such as cufflinks. As a result, several specialty jewelry stores are introducing online platforms for their advertising campaigns and virtual stores. Furthermore, several social media platforms are leveraged by prominent companies for marketing campaigns. Hence, such factors are driving the market growth in Europe during the forecast period.
In 2020, during the COVID-19 pandemic, the growth of the global cufflinks market witnessed a significant slowdown due to the halt in sales of non-essential items, especially cufflinks in Europe. However, in 2021, the initiation of large-scale vaccination drives lifted the lockdown and travel restrictions, which led to the resumption of businesses and fashion outlets. Such factors are expected to drive the market during the forecast period.
The cufflinks market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Cufflinks Market Scope |
|
Report Coverage |
Details |
Page number |
164 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.93% |
Market growth 2023-2027 |
USD 1,514.11 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
5.4 |
Regional analysis |
Europe, APAC, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 31% |
Key countries |
US, Canada, China, Germany, and the UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Boucheron Holding SAS, Bulgari S.p.A, Burberry Group Plc, Cartier SA, Chanel Ltd., Christian Dior SE, Cufflinks LLC, David Yurman Enterprises LLC, Dolce and Gabbana SRL, Georg Jensen, Giorgio Armani S.p.A., Guccio Gucci Spa, Hugo Boss AG, K. Mikimoto and Co. Ltd., Montblanc, Paul Smith Ltd., Prada Spa, Ralph Lauren Corp., Salvatore Ferragamo Spa, and Tiffany and Co |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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