Costume Jewelry Market Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2022-2026

The costume jewelry market share is expected to increase to USD 15.24 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 7.31%.

This market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by distribution channel (offline and online) and geography (North America, Europe, APAC, South America, and Middle East and Africa). The market report also offers information on several market vendors, including Azuli Skye, BaubleBar Inc., BlueStone Jewellery and Lifestyle Pvt. Ltd., Buckley Jewellery Ltd., Cartier SA, CHANEL Ltd., David Yurman Enterprises LLC, Gianni Versace Srl, Giorgio Armani S.p.A., Hstern Jewellery Ltd., K and M Accessories, LVMH Moet Hennessy Louis Vuitton SE, Park Lane Jewelry, Randa Accessories Leather Goods LLC, Richline Group Inc., Stella and Dot LLC, Stuller Inc., Swarovski AG, The Avon Co., and Voylla Jewellery among others.

What will the Costume Jewelry Market Size be During the Forecast Period?

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Costume Jewelry Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The growth in online retailing and the number of experience centres globally is notably driving the market growth, although factors such as competition among established vendors and from unorganized sectors may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the costume jewelry industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Market Driver

The growth in online jewelry retailing and the number of experience centres globally is one of the key drivers supporting the market growth. There are some e-commerce platforms such as Amazon and Walmart Inc., where consumers can choose from a wide range of brands and purchase costume jewelry products without visiting brick-and-mortar stores. Meanwhile, online retail stores increase the visibility of costume jewelry products and provide descriptions and reviews about products. Moreover, vendors in the global market sell products online through various third-party platforms and proprietary websites and thereby making shopping more convenient. Thus, such benefits offered by online shopping will drive market growth during the forecast period.

Key Market Trend

Personalization and customization of costume jewelry is one of the key market trends fueling the market growth. The concept of personalization and customization has come into effect as customers have various expectations and demands. Hence, the increasing demand has encouraged vendors to come up with personalized services for all kinds of fine and fashionable 3D printed jewelry like rings, pendants, and others. Personalization is done based on different refinements, like gender, stone type, metal type, stone colour, gold karat, style, and stone shape. Moreover, the price range of the products varies according to customer requirements. This, in turn, will propel the market growth during the forecast period.

Key Market Challenge

Competition among established vendors and from unorganized sectors is one of the factors hampering the market growth. Primarily, the global market is fragmented, owing to the presence of several global and regional vendors. The market, however, is dominated by a few global vendors that offer differentiated products in terms of quality and innovation. On the contrary, the presence of an unorganized market in emerging economies, such as India and China, is challenging for vendors. In various economies, consumers still prefer costume jewelry from brick-and-mortar stores as they offer affordable costume jewelry as compared to branded or designer costume jewelry. These factors may impede the market growth during the forecast period.

This market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global costume jewelry market as a part of the global apparel, accessories, and luxury goods market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the market during the forecast period.

Who are the Major Costume Jewelry Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

• Azuli Skye
• BaubleBar Inc.
• BlueStone Jewellery and Lifestyle Pvt. Ltd.
• Buckley Jewellery Ltd.
• Cartier SA
• CHANEL Ltd.
• David Yurman Enterprises LLC
• Gianni Versace Srl
• Giorgio Armani S.p.A.
• Hstern Jewellery Ltd.
• K and M Accessories
• LVMH Moet Hennessy Louis Vuitton SE
• Park Lane Jewelry
• Randa Accessories Leather Goods LLC
• Richline Group Inc.
• Stella and Dot LLC
• Stuller Inc.
• Swarovski AG
• The Avon Co.
• Voylla Jewellery

This statistical study of the market encompasses successful business strategies deployed by the key vendors. The market is fragmented and the vendors are deploying growth strategies such as price, type, quality, the presence of brands, discounts, and the availability of products to compete in the market.

Product Insights and News

• Baublebar.com - The company offers costume jewelry that features luxe 18K gold plated sterling silver and Cubic Zirconia Stones and is finished with a thick layer of 18k real gold plating over 925 sterling silver.
• Buckleylondon.com - The company offers costume jewelry where each individual ring is plated with either gold, rose gold or rhodium to create the three colours and each piece is then handed polished to give a high lustre.
• Cartier.com - The company offers costume jewelry that includes rings, bracelets, necklaces and earrings which are available in variations of white gold, rose gold and yellow gold.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Costume Jewelry Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Costume Jewelry Market?

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27% of the market's growth will originate from North America during the forecast period. The US is the key market for costume jewelry in North America. Market growth in this region will be faster than the growth of the market in Europe.

The increasing demand for costume jewelry from millennials and a wide variety of products available through the online distribution channel will facilitate market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

In 2020, the outbreak of COVID-19 negatively impacted most North American countries, which resulted in the temporary closure of various industries, including that manufacturing costume jewelry. However, the initiation of large-scale vaccination drives in 2021 led to the lifting of lockdown restrictions in the region. This has resulted in the resumption of operations of manufacturing units of costume jewelry, which has increased its production. Such factors are expected to drive the growth of the regional market during the forecast period.

What are the Revenue-generating Distribution Channel Segments in the Costume Jewelry Market?

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The market share growth by the offline segment will be significant during the forecast period. Consumers can choose from a wide range of products in retail stores based on parameters such as price and quality. These stores are convenient for individuals who prefer the traditional way of shopping. Owing to the personalized shopping experience, some consumers have a high propensity to purchase costume jewelry from offline stores compared with online stores. Thus, the wide availability of products across platforms and the easy consumer accessibility to outlets are expected to drive the growth of the segment during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the market size and actionable market insights on post COVID-19 impact on each segment.

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What are the Key Data Covered in this Costume Jewelry Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive market growth during the next five years
• Precise estimation of the market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behaviour
• The growth of the costume jewelry industry across North America, Europe, APAC, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of market vendors

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