India Costume Jewelry Market Size, Analysis By Growth Rate, Opportunities and Forecast Assessment, 2021-2030

The Objective of the " India Costume Jewelry Market" report is to depict the trends and upcoming for the India Costume Jewelry Market industry over the forecast years. India Costume Jewelry Market report data has been gathered from industry specialists/experts. Although the market size of the market is studied and predicted from 2019 to 2027 mulling over 2018 as the base year of the market study. Attentiveness for the market has increased in recent decades due to development and improvement in the innovation.

The India costume jewelry market size is expected to reach $2,126.3 million by 2027 at a CAGR of 7.0% from 2019 to 2027.

Rapid urbanization, increase in online sales of jewelry, surge in number of fashion-conscious consumers, and demand for artificial jewelry drive the growth of the India costume jewelry market. However, strict regulations imposed on import and export of goods and less durability hinder the market growth. On the other hand, attractive marketing strategies and trend of automation present new opportunities in the coming years.

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Rapid urbanization, increase in online sales of jewelry, surge in number of fashion-conscious consumers, and demand for artificial jewelry drive the growth of the India costume jewelry market. Owing to lockdown restrictions imposed by the Indian government, there has been partial or complete stoppage of production of costume jewelry. Moreover, the laborers returned to their hometowns and this created a shortage of workers in the ornament manufacturing industry.

The India Costume Jewelry Market has grown significantly over the years and is expected to grow at a steady rate during the forecasted period. This is due to a lot of factors, including a change in lifestyle, an increase in the price of precious metal jewelry, an increase in fashion consciousness, and a change in packaging styles and attractive marketing strategies.

Based on type, the earring segment held the highest share in 2019, accounting for nearly one-fourth of the total share, and is projected to continue its lead position throughout the forecast period. Moreover, this segment is estimated to manifest the highest CAGR of 8.0% from 2021 to 2027. The research also analyzes the segments including necklaces & chains, rings, cufflinks & studs, bracelets and others.

Based on mode of sale, the retail sale segment accounted for the highest share in 2019, holding more than half of the total market share, and is estimated to maintain its dominance in terms of revenue during the forecast period. Moreover, this segment is expected to witness the fastest CAGR of 7.5% from 2021 to 2027. The research also analyzes the online sale segment.

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Based on gender, the female segment contributed to the highest share in 2019, accounting for more than two-thirds of the India costume jewelry market, and is expected to maintain its leadership status during the forecast period. Moreover, this segment is projected to register the largest CAGR of 7.3% from 2021 to 2027. The research also analyzes the male segment.

Leading players of the India costume jewelry market analyzed in the research include Avon Products Inc., Zaveri Pearls, Voylla, Sukkhi Fashion Jewelry, Pipa Bella, Tanishq, Romoch, Tribe Amrapali, Swarovski Group, Yellow Chimes, Isharya, Youbella, Kushal's, Peora, SIA, and Pooja Jewels.

Covid-19 Scenario:

• Owing to lockdown restrictions imposed by the Indian government, there has been partial or complete stoppage of the production of costume jewelry. Moreover, the laborers returned to their hometowns and this created a shortage of workers in the ornament manufacturing industry.
• The sales volumes decreased considerably due to closure of offline stores and ban on delivery by online sales during the lockdown. However, the sales would increase steadily during the post-lockdown.

Key Benefits For Stakeholders

• This report provides a quantitative analysis of the current trends, estimations, and dynamics of the India Costume Jewelry market from 2021 to 2028 to identify the prevailing market opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• The market player positioning segment facilitates benchmarking while providing a clear understanding of the present position of the key market players.

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