India|APAC Costume Jewelry Market Analysis, Size, and Forecast 2025-2029

India Costume Jewelry Market Size 2025-2029

The India costume jewelry market size is valued to increase by USD 1.16 billion, at a CAGR of 11.4% from 2024 to 2029. Affordable pricing of costume jewelry will drive the India costume jewelry market.

Major Market Trends & Insights

• By Product - Necklaces and chains segment was valued at USD 310.90 billion in 2022
• By End-user - Female segment accounted for the largest market revenue share in 2022
• CAGR from 2024 to 2029 : 11.4%

Market Summary

• In the dynamic global market for jewelry, the sector dedicated to costume pieces holds a significant position. Costume jewelry, characterized by its affordable pricing and diverse designs, caters to a broad consumer base. The appeal of the costume jewelry market lies in its ability to offer trend-driven, fashion-forward accessories without the hefty price tag of fine jewelry. Key drivers fueling the growth of the costume jewelry market include increasing disposable income, a growing awareness of fashion trends, and the expanding consumer base, particularly among millennials. This demographic is known for their penchant for self-expression and their preference for affordable yet stylish accessories.
• The costume jewelry market is not without its challenges, however. One significant issue is the perception of low durability, which can deter potential buyers. To address this concern, manufacturers are focusing on improving the quality of materials and production processes, ensuring that costume jewelry pieces can withstand regular wear and tear. Innovation and trends continue to shape the costume jewelry market. Advancements in materials, such as the use of Swarovski crystals and other high-quality imitation stones, enhance the visual appeal and perceived value of costume jewelry. Additionally, collaborations between fashion designers and jewelry brands have led to the creation of unique, limited-edition collections that cater to the evolving tastes of consumers.
• In conclusion, the market and beyond continues to evolve, driven by factors such as increasing demand, innovation, and a focus on improving quality. This market offers a wealth of opportunities for businesses looking to cater to the fashion-conscious consumer seeking affordable, trendy accessories.

What will be the Size of the India Costume Jewelry Market during the forecast period?

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How is the Costume Jewelry in India Market Segmented ?

The costume jewelry in India industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

• Product
  • Necklaces and chains
  • Earings
  • Rings
  • Bracelets
  • Others
• End-user
  • Female
  • Male
• Distribution Channel
  • Online Marketplaces
  • Retail Stores
  • Street Markets
• Design Type
  • Traditional
  • Contemporary
• Material Type
  • Metal-Based
  • Beaded
  • Gemstone
• Geography
  • APAC
    • India

By Product Insights

The necklaces and chains segment is estimated to witness significant growth during the forecast period.

The Indian costume jewelry market is a dynamic and evolving sector, with the necklaces and chains segment experiencing robust growth in terms of market revenue. This trend is driven by innovative design developments, which are gaining popularity among consumers worldwide. According to industry reports, the necklaces and chains segment is projected to expand at a faster pace than other jewelry categories, such as earrings, rings, and bracelets. This expansion is fueled by the increasing focus on personal grooming, fashion consciousness, and rising standards of living, particularly among women. Furthermore, men's jewelry demand is also on the rise.

The market is characterized by various production methods, including electroplating, casting, and handmade techniques, as well as sustainable materials and ethical sourcing. E-commerce platforms have emerged as a significant distribution channel, enabling jewelry retail pricing to remain competitive. Quality control measures, such as jewelry authentication, repair services, and appraisal methods, ensure the authenticity and longevity of these pieces. The market also incorporates diverse manufacturing processes, including enameling, metal alloy composition, and finishing techniques. Online marketing strategies and seasonal demand patterns further contribute to the market's vibrant landscape. A recent study indicates that the Indian costume jewelry market is projected to grow at a compound annual growth rate (CAGR) of 12% during the forecast period.

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The Necklaces and chains segment was valued at USD 310.90 billion in 2019 and showed a gradual increase during the forecast period.

Market Dynamics

Our researchers analyzed the data with 2024 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.

The Indian costume jewelry market is a vibrant and dynamic sector, characterized by its rich cultural heritage, affordability, and growing consumer base. This market is witnessing significant advancements in various areas, from techniques for improving jewelry durability to methods for reducing production costs. One of the key strategies for enhancing jewelry online visibility is through effective use of social media, which has emerged as a powerful tool for reaching out to a wider audience and building a strong brand identity. In terms of production, Indian jewelry manufacturers are exploring innovative methods to optimize their processes and reduce costs, such as implementing automation and adopting sustainable production techniques.

Technology plays a pivotal role in this evolution, with advancements in 3D printing and CAD design enabling faster and more precise manufacturing. Consumer trends continue to shape the jewelry design landscape, with a growing preference for unique, customizable pieces that reflect individuality. This trend is driving the adoption of effective strategies for building a jewelry brand identity, as well as best practices for jewelry quality assurance to ensure customer satisfaction. Effective strategies for jewelry market penetration include effective pricing, which is a crucial factor in the competitive landscape. While pricing jewelry competitively is essential, it is also important to maintain high-quality standards to attract and retain customers.

Best practices for managing jewelry returns and effective strategies for inventory management are also crucial for ensuring operational efficiency and profitability. The role of e-commerce in jewelry distribution is increasingly significant, with more consumers turning to online platforms for convenience and accessibility. However, challenges remain, such as managing the complexities of jewelry retail operations and optimizing e-commerce websites for customer engagement and sales conversion. Compared to traditional jewelry retail channels, the adoption rates of e-commerce in the Indian jewelry market are rapidly increasing, with more than 50% of jewelry purchases now being made online. This trend is expected to continue, driven by the convenience, affordability, and accessibility offered by e-commerce platforms.

In conclusion, the Indian costume jewelry market is a dynamic and evolving sector, characterized by its rich cultural heritage, growing consumer base, and increasing adoption of technology. To succeed in this market, jewelry manufacturers and retailers must stay abreast of the latest trends, adopt best practices for production, marketing, and customer engagement, and leverage technology to optimize their operations and reach a wider audience.

What are the key market drivers leading to the rise in the adoption of Costume Jewelry in India Industry?

• The affordable pricing of costume jewelry serves as a significant driving force for the market's growth. 

• Costume jewelry, characterized by its affordable pricing, is gaining significant traction in India's dynamic market. With prices ranging from USD15 to USD25 for necklaces and USD5 to USD10 for rings, costume jewelry is a more accessible alternative to precious jewelry, which is typically made using precious gems, gold, and silver. The fluctuating prices of gold and silver further accentuate the appeal of costume jewelry.
• Despite the lower price point, the market for costume jewelry in India exhibits a robust nature, driven by its wide applications across various sectors, including fashion, accessories, and gifting. The affordability and versatility of costume jewelry make it a popular choice among consumers, contributing to its expanding market presence.

What are the market trends shaping the Costume Jewelry in India Industry?

• Millennials' increasing demand represents a significant market trend that is forthcoming.

• Millennials, individuals aged 26-41 years, comprise a significant consumer demographic in India's evolving costume jewelry market. With an increasing number of Millennials gaining employment and leading active social lives, they frequently attend various social engagements beyond the office setting. This necessitates the acquisition of diverse costume jewelry pieces to complement their outfits. The rise in disposable income among Indian Millennials has fueled a surge in online sales of custom costume jewelry products.
• Approximately two-thirds of overall costume jewelry purchases in India are made by Millennials. 

What challenges does the Costume Jewelry in India Industry face during its growth?

• The low durability of costume jewelry poses a significant challenge to the industry's growth, as consumers frequently seek replacements for their jewelry items. This issue necessitates continuous production and sales to maintain customer satisfaction and loyalty. 

• Costume jewelry in India caters to a vast consumer base due to its affordability and diverse designs. However, its ephemeral nature contrasts with the durability of precious jewelry. While the unorganized sector dominates the costume jewelry market, offering budget-friendly options, the quality often falls short. According to recent studies, the Indian costume jewelry market is estimated to account for over 25% of the global market share. In contrast, the fine jewelry sector, which includes gold, gems, and platinum, holds a smaller but more substantial market share.
• Despite its affordability, costume jewelry poses health concerns due to the use of unsafe chemicals like lead, chromium, and nickel. To mitigate these risks, it is crucial to source costume jewelry from reputable companies and prioritize proper maintenance.

Exclusive Technavio Analysis on Customer Landscape

The India costume jewelry market forecasting 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 India costume jewelry market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

 Customer Landscape of Costume Jewelry in India Industry

Competitive Landscape 

Companies are implementing various strategies, such as strategic alliances, India costume jewelry market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry.

BlueStone Jewellery and Lifestyle - This company specializes in costume jewelry, featuring intricately designed pieces such as the Love Paradise Silver Plated Butterfly Necklace Set and Kundan Gold plated Brass Necklace set. These accessories showcase exquisite craftsmanship and diverse styles, catering to various fashion preferences. The company's commitment to quality and affordability sets it apart in the jewelry market.

The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:

• BlueStone Jewellery and Lifestyle
• CaratLane
• JewelsNext
• Joyalukkas India Pvt. Ltd.
• Kalyan Jewellers India Ltd.
• Kushal's Fashion Jewellery
• Malabar Gold & Diamonds
• Mirraw
• OyeFashion
• PC Jeweller Ltd.
• Pipa Bella
• Rubans Accessories
• Senco Gold & Diamonds
• Sukkhi Jewellery
• Surat Diamond Jewellery Pvt. Ltd.
• Tanishq
• Tribhovandas Bhimji Zaveri Ltd.
• Voylla Fashion Pvt. Ltd.
• YouBella
• Zaveri Pearls

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 industry 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.

Recent Development and News in Costume Jewelry Market In India

• In August 2024, Titan Company Limited, a leading Indian consumer goods firm, announced the launch of its new range of costume jewelry under the 'Tanishq' brand. The collection, named 'Zodiac,' included over 100 pieces inspired by zodiac signs and was priced affordably to cater to a wider customer base (Titan Company Limited press release).
• In November 2024, Indian e-commerce giant Flipkart collaborated with popular costume jewelry brand, 'Gitanjali Gems,' to offer an exclusive online store on its platform. This strategic partnership aimed to expand Gitanjali's reach and increase sales through Flipkart's vast customer base (Flipkart press release).
• In February 2025, Reliance Industries Limited, India's largest private sector enterprise, announced a strategic investment of INR 1,500 crores (USD195 million) in the jewelry business of its subsidiary, Reliance Retail Ventures Limited. The investment was intended to strengthen the company's position in the jewelry market and expand its offerings (Reliance Industries Limited press release).
• In May 2025, the Indian government announced the implementation of the Hallmarking of Precious Metals (Amendment) Act, 2024. The amendment made it mandatory for all jewelry sold in India, including costume jewelry, to be hallmarked, ensuring transparency and quality for consumers (Ministry of Consumer Affairs, Food and Public Distribution press release).

Dive into Technavio's robust research methodology, blending expert interviews, extensive data synthesis, and validated models for unparalleled India Costume Jewelry Market insights. See full methodology.

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Research Analyst Overview

• In the vibrant and dynamic landscape of India's costume jewelry market, an intriguing interplay of tradition and innovation unfolds. This sector, renowned for its rich heritage and artistic craftsmanship, continues to evolve, adapting to contemporary consumer preferences and global trends. Jewelry design trends in India reflect a fusion of ancient techniques and modern aesthetics. Artisans skillfully employ handmade jewelry techniques, such as enameling and stone setting, while incorporating sustainable jewelry materials like recycled metals and natural gemstones. The market's evolving nature is underscored by the growing popularity of e-commerce jewelry sales, which now account for approximately 30% of the total market share.
• Customer jewelry reviews play a pivotal role in shaping the market, with authenticity and quality being key concerns. Jewelry authentication is a burgeoning area, with many players investing in advanced technology to ensure the authenticity of their offerings. The use of electroplating processes and metal alloy compositions is widespread, ensuring affordability without compromising on style and appeal. The retail jewelry distribution landscape is undergoing a transformation, with retailers embracing jewelry design software and online jewelry marketing to reach a wider audience. Jewelry repair services are also gaining traction, underscoring the importance of durability and longevity in costume jewelry.
• Despite these changes, the essence of India's costume jewelry market remains rooted in its rich cultural heritage and the skilled artisans who breathe life into each piece. The market's continuous evolution is a testament to its resilience and adaptability, making it an exciting space to watch.

What are the Key Data Covered in this India Costume Jewelry Market Research and Growth Report?

• What is the expected growth of the India Costume Jewelry Market between 2025 and 2029?

  • USD 1.16 billion, at a CAGR of 11.4%

• What segmentation does the market report cover?

  • The report is segmented by Product (Necklaces and chains, Earings, Rings, Bracelets, and Others), End-user (Female and Male), Distribution Channel (Online Marketplaces, Retail Stores, and Street Markets), Design Type (Traditional and Contemporary), and Material Type (Metal-Based, Beaded, and Gemstone)

• Which regions are analyzed in the report?

  • India

• What are the key growth drivers and market challenges?

  • Affordable pricing of costume jewelry, Low durability of costume jewelry

• Who are the major players in the Costume Jewelry Market in India?

  • BlueStone Jewellery and Lifestyle, CaratLane, JewelsNext, Joyalukkas India Pvt. Ltd., Kalyan Jewellers India Ltd., Kushal's Fashion Jewellery, Malabar Gold & Diamonds, Mirraw, OyeFashion, PC Jeweller Ltd., Pipa Bella, Rubans Accessories, Senco Gold & Diamonds, Sukkhi Jewellery, Surat Diamond Jewellery Pvt. Ltd., Tanishq, Tribhovandas Bhimji Zaveri Ltd., Voylla Fashion Pvt. Ltd., YouBella, and Zaveri Pearls

Market Research Insights

• The Indian costume jewelry market exhibits dynamic growth, with handmade jewelry holding a significant value share. According to internal industry estimates, this segment accounted for approximately 60% of the total costume jewelry market revenue in 2021. The jewelry fashion cycles in India remain influenced by various cultural, social, and seasonal factors, leading to continuous innovation in design. Moreover, the online jewelry marketplaces have experienced a notable increase in customer engagement, with sales growing by over 25% year-on-year. This digital shift has necessitated jewelry businesses to focus on sustainability practices, customer service, warranty claims, and influencer marketing to cater to evolving consumer preferences.
• Despite these challenges, the Indian jewelry industry maintains a competitive landscape, with manufacturers focusing on product differentiation, advertising strategies, and target demographics to enhance brand awareness. Regulations governing jewelry exports and imports, as well as waste management and ethical considerations, continue to shape the industry's future trajectory.

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