Us Costume Jewelry Market Will Reach in Nearly US$ 20.3 Bn Revenues during 2010-2024

The multi-billion dollar media & entertainment industry in the US unmistakably grabs the attention of almost every other person in the world. From Hollywood to its fashion & showbiz, US has always welcomed innovative designs that transform one’s appearance into remarkable stance. The demand for costume jewelry in the US is expected to gain traction, in the years to come, as leading edge accessories will continue to replace traditional ornaments. Persistence Market Research’s latest publication, titled “Costume Jewelry Market: US Industry Analysis and Forecast, 2010-2024,” estimates that by the end of 2024, the costume jewelry market in US will have netted revenues worth over US$ 20,289.3 Mn.

Multi-Brand Boutiques and Online Retailing to account for more than 75% of distribution channels

In the year 2016, the Multi-Brand Boutiques segment accounted for a market share of nearly 45% and the Online Retailing segment held a share of 33% in the distribution channels category in the U.S. costume jewelry market. These statistics imply jewelry makers will have to target either one or both of these distribution channels to ensure that their products reach end consumers.

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e-Commerce boom is seen everywhere including the U.S. costume jewelry market

With the proliferation of smartphones, 4G connectivity and a strong distribution infrastructure, e-commerce enables customers in even smaller American towns to access the very best available in the U.S. costume jewelry market. Online retailers now provide a diverse selection of products through dedicated catalogues for both international patterns as well as designs.

Persistence Market Research’s report on US costume jewelry market delivers key insights on the dynamic growth of market under influence of multiple factors. The market, which is presently valued over US$ 13,500 Mn, is anticipated to showcase an absolute incremental opportunity of more than US$ 600 Mn in 2017 over 2016. Globally-recognized fashion labels such as Chanel S.A., Gianni Versace S.p.A, Hermes International AS, LVMH Moet Hennessy Louis Vuitton SE, and Gucci are also observed to be key players in US costume jewelry market. Other leading manufacturers of costume jewelry in the US, such as Pandora A/S, ZARA ESPANA SA, Hennes & Mauritz Ab, Guess Inc., and Alex and Ani, LLC, are also profiled as prominent players in this report.

According to the report, the costume jewelry market in US will grow at a steady pace during the forecast period. Proliferation of e-commerce and online distribution channels has propelled the market’s potential, while technologies facilitating computerized generation of jewelry designs have developed lucrative growth opportunities. During the forecast period, the US costume jewelry is projected to exhibit a value CAGR of 5.2%.

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Key highlights on the forecast of US costume jewelry market, compiled in the report include:
Earrings & finger rings are likely to become top-selling products in the US costume jewelry market, bringing in over US$ 7,000 Mn by 2024-end.In terms of revenues, sales of necklaces and pendants across US will exhibit sizeable growth at 5.7% CAGR.Increasing presence of non-branded costume jewelry makers will keep fragmenting the market’s growth
Inclination towards purchase of premium costume jewelry will fuel the market’s expansion as rising disposable incomes and easy access to top brands will propel the reach of costume jewelry businesses in the US.

Through 2024, close to US$ 10,000 Mn worth of costume jewelry sold in the US will be priced between US$ 50 and US$ 100, while demand for high-priced (US$ 220 above) will gain traction.The report also reveals that throughout the forecast period, multi-brand boutiques will be identified as largest distribution channels for costume jewelry in the US

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