Growth Opportunities in the glo anbal jewelry market look promising over the next six years. The growing disposable incomesd fundamentally changing lifestyle of individuals and environmental standards, and rising acceptance of jewelry among men are the key factors driving the growth of the global jewelry market.
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Jewelry Market’s leading Manufacturers:
- Tiffany & Co.
- Signet Group
- Richemont Group
- LVMH Group
- Harry Winston
- Van Cleef & Arpels
- Chow Tai Fook
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Jewelry Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
The global jewelry market is projected to experience strong demand over the coming years due to growing disposable incomes and the fundamentally changing lifestyle of individuals. The rising acceptance of jewelry among men is surging the growth of the global jewelry market size during the forecast period. Men frequently wear products like tie bars, plain gold chains, cartography necklaces, cufflinks, and signet rings. According to the jewelry market research, designs influenced by tribal women are constantly penetrating the market on the basis of their popularity. Additionally, growing awareness related to the remarkable advantages of the metals and gemstones utilized in the jewelry pieces is further augmenting the growth of the jewelry market share in terms of revenue. Women are currently emphasizing the modern trends of hairpins, bangles, necklaces, and the availability of customized jewelry, which will have a positive influence on the market's demand.
The emergence of the COVID-19 pandemic has negatively impacted the growth of the jewelry market due to rigorous lockdown imposed by the government of various regions which is forcing people to stay at home, thus indirectly decreasing their income. On the other hand, the continuous fall in income and the rising preference of the consumers to spend only on the essential items will hinder the growth of the market.
Based on the region, North America is projected to dominate the market during the forecast period. This is mainly attributed to its advanced retail structure and increasing jewelry adoption due to celebrity brand endorsement and aggressive advertising strategy. In addition to this, the growing expenditure of consumers on fashion jewelry will fuel the growth of the jewelry market.
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Jewelry Market Segmentation:
Segmentation by Material Type:
Segmentation by Product Type:
Segmentation by Distribution Channel:
- Online Stores
- Offline Stores
Segmentation by End-Users:
Segmentation by Region:
- North America
- United States of America
- Asia Pacific
- Rest of APAC
- United Kingdom
- Rest of Europe
- South Africa
- Saudi Arabia
- Rest of the world (remaining countries of the LAMEA region)
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