Indian costume jewelry market size is expected to grow to USD 639.32 million from 2022 to 2027 due to affordability
new york, April 17, 2023 /PR Newswire/ — Costume jewelry market size India estimated to grow by US$639.32 million From 2022 to 2027, according to Technavio. the market is CAGR 8.64% during the forecast period. For detailed insights on the historical period (2017-2021) and market size forecast (2023-2027), request a sample report.
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Costume Jewelry Market – Segmentation Evaluation
Technavio has segmented the market based on distribution channels (offline and online) and product types (necklaces and chains, earrings, rings, bracelets, etc.).
Market share growth India by offline segment It will be important for the growth of the market during the forecast period. Different types of offline channels include hypermarkets, supermarkets and specialty retailers, providing consumers with a wide variety of products to choose from. Additionally, some e-commerce platforms are looking to expand their presence by partnering with local retailers and distributors and expanding their own retail outlets. for example, April 2021, Nykaa E-Retail Pvt. Ltd. acquired Pipa Bella and IndiaTherefore, such M&A efforts are expected to boost the growth of the segment and thereby the market growth of the costume jewelry market. India during the forecast period.
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Costume Jewelery Market – market dynamics
Key Factors Driving Market Growth
Key Drivers of Costume Jewelry Market Growth India Affordable prices for costume jewelry.
Gold and silver prices fluctuate from time to time.For example, on average, necklaces and rings cost about $15 to USD 25 and US$5 to US$ Therefore, the high procurement costs associated with jewelery manufactured using gold, silver and precious stones are expected to increase the adoption of costume jewellery.
Moreover, new designs, colors, and innovations in costume jewelry will boost the growth of the costume jewelry market. India This allows consumers to experiment with costume jewelry products.
Rising adoption of costume jewelery as a national fashion accessory and rapidly changing consumer lifestyles are pushing people to buy costume jewelery instead of expensive jewellery, leading to the growth of the market during the forecast period. We are promoting growth.
Key trends impacting the market
Emerging trends in the costume jewelry market India Increasing demand from millennials is expected to drive market demand.
Individuals in the 18-34 age group are classified as millennials. They form a major consumer segment of the country’s costume jewelry market.
Millennials recognize the authenticity and quality of different types of costume jewelry such as necklaces, rings, and bracelets.
Additionally, the prevalence of social media and changing lifestyles are influencing interest in costume jewelry. This has forced costume jewelry makers to launch new products with innovative designs.
Therefore, the costume jewelry market is expected to grow due to such new product launches. India during the forecast period.
Key challenges hindering market growth
Key Challenges Hampering Costume Jewelry Market Growth India Not durable enough.
Costume jewelry requires proper maintenance and careful handling as it is fragile, loses its shine and cannot be repaired or rebuilt. That is why many vendors in the Indian market offer guarantees on their products in case of problems. I have not.
In contrast, fine gold, gemstone and platinum items have a longer shelf life and are covered by a limited period of warranty than costume jewelry.
Vendors in the unorganized sector offer costume jewelry at affordable prices, but the quality is not good.In addition, costume jewelry manufacturers use dangerous chemicals such as lead, chromium, and nickel. You must to do something before you go on. These cause various allergic reactions on the skin and are considered harmful to health.
Various consumers prefer premium costume jewelry products from certain designers and brands over fashionable and cost-effective costume jewelry.
Hence, growing preference for premium costume jewelery products hinders the growth of the Indian costume jewelery market.
Insights on market drivers, trends and challenges over historical (2017-2021) and forecast (2023-2027) time periods – request a sample report.
What are the key data covered in this Costume Jewelry Market? India report?
CAGR of the market during the forecast period
Detailed information on the factors driving the growth of the costume jewelry market India Between 2023 and 2027
Accurate Estimation of Costume Jewelry Market Size India and market contributions focused on the parent market
Accurate prediction of upcoming trends and changes in consumer behavior
Growing costume jewelry market India
In-depth analysis of market competitive landscape and vendor details
Comprehensive Analysis of Factors Challenging the Growth of the Costume Jewelry Market India vendor
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Costume jewelry market size
Growth Momentum and CAGR
Accelerate at a CAGR of 8.64%
Market growth 2023-2027
Year-over-year growth rate (%) from 2022 to 2023
Key vendors, vendor market positioning, competitive strategies, industry risks
Main company introduction
Anuradha Art Jewelery, Avon Products Inc., GBL Altair Pvt. Ltd., GlobalBees Brands Pvt. Ltd., Indian Imitation Jewelery, IndieJewel Fashions Pvt. Ltd., Isharya, Kushals Fashion Jewelery, Manek Ratna, Mangalmani Jewelers, Nykaa Fashion Pvt. Ltd., Padmavati Jewelry, Romoch, Rubans Accessories, Sia Jewels Pvt. Ltd., Sukkhi Online Pvt. Ltd., TBA Jewels Pvt. Ltd., Purple and Violet Designer Fashion Jewelry Pvt. Ltd., YouBella Jewelry and Lifestyle, Zariin
Parent market analysis, market growth drivers and obstacles, fast and slow growth segment analysis, COVID-19 impact and recovery analysis, and future consumer dynamics, market landscape analysis for the forecast period
If the data you’re looking for isn’t in the report, contact an analyst to customize the segment.
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table of contents :
2 Market outlook
3 Market size
4 Historical market size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Distribution Channel
8 Customer Situation
9 Drivers, challenges and trends
10 vendor landscape
11 vendor analysis
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