Press release
Global Jewelry Market Is Estimated To Reach $266.53 Billion By 2027, Growing At A CAGR Of 3.7%
Jewelry Market
Reduce Number of Labor Workforce amid COVID-19 to Hinder Growth
The global pandemic has led to a lockdown announced by the government agencies across the globe. This has led to a partial lockdown of industrial operation and has left several laborers unemployed. Owing to the reduced number of jobs, the workforce has opted to return to their native places that has severely affected the market growth. However, collective efforts by the manufacturers and government to ensure a safe working environment by taking measures to contain the widespread effect of COVID-19 is expected to drive the market in the near future.
Get a Sample PDF Brochure:
https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/jewelry-market-102107
Fortune Business Insights™ lists out all the jewelry market companies that are presently striving to reduce the impact of Covid-19 pandemic on the market:
• Harry Winston, Inc., ( New York, USA)
• Chopard (Meyrin - Geneva, Switzerland)
• Pandora Jewelry, LLC. (Oakland, California, USA)
• Chow Tai Fook Jewellery Company Limited (Central & Western, Hong Kong)
• Tiffany & Co ( New York, USA)
• Rajesh Exports Ltd (Bengaluru, Karnataka, India)
• Cartier International SNC (Paris, France)
• Signet Jewelers Limited (Hamilton, Bermuda)
• Chanel (Paris, France)
• LVMH Moët Hennessy (Paris,France)
Jewelry products mainly consist of gold, silver, diamonds, and other exotic gemstones. They have been a symbol of luxury since centuries and adorn by people for beautification and enhancing their overall appearance. Additionally, the high demand for bridal ornaments, and the different festivities and traditions followed by people globally boosts the consumption of exotic gemstones and other products.
What does the Report Include?
The market report includes a detailed assessment of the various market drivers and restraints, opportunities, and challenges that the market will face during the projected horizon. Furthermore, the report provides comprehensive research into the regional developments of the market, affecting the market growth during the forecast period. Moreover, the report includes information sourced from the advice of expert professionals from the industry by our research analyst using several research methodologies for the market. The competitive landscape offers further detailed insights into the strategies such as product launches, partnership, merger and acquisition, and collaborations adopted by the companies to maintain market stronghold between 2020 and 2027.
DRIVING FACTORS
Emergence of Digital Media Platforms to Promote Growth
The growing influence through reality shows, music videos, and movies enable the digital media platforms to play a pivotal role in propelling the sales of luxurious jewelry products globally. In addition to this, the adoption of technology in the manufacturing of the ornaments is anticipated to bode well for the global jewelry market growth during the forecast period. For instance, the products such as Luxe Smart Ring by The Ringly are equipped with several technological features such as health and fitness monitoring and GPS, along with being equipped with large gemstones.
SEGMENTATION
Necklace Segment Held a 22.70% Market Share
The necklace segment, based on product, held a market share of about 22.70% in 2019 and is likely to showcase a considerable growth during the forecast period. This is ascribable to factors such as the increasing adoption of the jewelry products by women consumers across the globe.
REGIONAL INSIGHTS
Presence of Established Manufacturers in Asia-Pacific to Favor Growth
Among all the regions, Asia-Pacific is expected to remain dominant and hold the highest position in the global jewelry market during the forecast period. This dominance is attributable to the presence of established manufacturers such as Tanishq, Queelin, and others in countries such as India and China in the region. Asia-Pacific generated USD 130.49 in terms of revenue in 2019.
The market in North America is expected to experience a significant growth owing to the presence of several millionaires in countries such as the U.S. that propels the sales of exotic and premium jewelry in the region. For instance, as per the Global Wealth Report 2019, 40% of the total millionaires globally are present in the United States.
Rеаѕоnѕ to Get thіѕ Rероrt:
A qualitative and quantitative market study based on segmentation that includes both economic and non-economic factors
Data on market value for each section and sub-segment
Indicates the region and market segment that is likely to expand the fastest and dominate the market.
The consumption of the product/service in each region is highlighted, as are the factors affecting the market within each region.
The competitive landscape includes the top players' market rankings, as well as new service/product launches, collaborations, company expansions, and acquisitions made by the companies profiled in the last few years.
COMPETITIVE LANDSCAPE
Major Companies Focus on Expansion Strategies to Leverage Market Opportunities
The global jewelry market is experiencing stiff competition owing to the presence of several major companies that are focusing on expanding their facilities to cater to the increasing demand for luxury jewelry products globally. In addition to this, key players are adopting strategies such as merger and acquisition, partnership, and collaboration to maintain market stronghold in the forthcoming years.
Inquire Before Buying This Research Report:
https://www.fortunebusinessinsights.com/enquiry/queries/jewelry-market-102107
Industry Development:
October 2020 - Blue Nile, the largest online retailer of diamonds, announced its massive expansion plan in 2020. The company is expected to open three brick-and-mortar showrooms in Q4 of 2020, and further plans to open over 50 showrooms in the top 50 market over the three year time span.
Frequently Asked Questions (FAQs):
1. How much is the jewelry market worth?
Fortune Business Insights says that the global market size was USD 330.0 billion in 2019 and is projected to reach USD 266.53 billion by 2027.
2. What was the value of the market in Asia Pacific in 2019?
In 2019, the Asia Pacific market value stood at USD 130.49 billion.
3. At what CAGR is the market projected to grow in the forecast period (2020-2027)?
Growing at a CAGR of 3.7%, the market will exhibit steady growth in the forecast period (2020-2027).
4. What is the leading segment in the market?
The ring segment is projected to be the leading segment in this market during the forecast period under product segmentation
5. What is the key factor driving the market?
The rising growth of the global economy is the major factor driving the growth of the market.
6. Who are the major players in this market?
Harry Winston, Inc., Chow Tai Fook Jewellery Company Limited, LVMH Moët Hennessy, and others are some of the major players in the global market.
7.Which region held the highest share in the market?
Asia Pacific dominated the market share in 2019.
8. Which factors are expected to drive the adoption of these products?
The rising high fashion sense among the global population is expected to drive the adoption in the global market.
Get your Customized Research Report:
https://www.fortunebusinessinsights.com/enquiry/customization/jewelry-market-102107
Contact Us:
Fortune Business Insights™ Pvt. Ltd.
9th Floor, Icon Tower,
Baner - Mahalunge Road,
Baner, Pune-411045, Maharashtra, India.
Phone:
US: +1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245
Email: sales@fortunebusinessinsights.com
Fortune Business Insights™
Linkedin | Twitter | Blogs
About Us:
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Global Jewelry Market Is Estimated To Reach $266.53 Billion By 2027, Growing At A CAGR Of 3.7% here
News-ID: 2898554 • Views: …
More Releases from Fortune Business Insights™
World Environment Day 2023: How Saving Water Can Help Us Save The Environment
Wastewater comes from homes, businesses, industrial sites and farms, as well as any stormwater or groundwater that enters the sewer system.
Specialised treatment plants process this wastewater. A combination of technologies is used to achieve the treatment objectives, based on the character of raw wastewater and use of the treated wastewater. These processes include primary, secondary and tertiary treatment. Our research, published today, found wastewater treatment removes a lot of particles,…
Cosmetics Market Research Analysis by Top Key Players, Types, New Trends and For …
The global cosmetics industry was valued at USD 277.67 billion in 2020 and is projected to grow from USD 287.94 billion in 2021 to USD 415.29 billion in 2028, exhibiting a CAGR of 5% during the 2021-2028 period.
In recent times, demand for makeup and skincare products has surged dramatically. Both men and women use it to enhance their overall appearance. The industry offers a wide variety of products, such as hair care, face care,…
Aquafeed Market Trends, Growth, Share, Size and Forecast Research Report 2028
The global aquafeed market size is anticipated to reach USD 85.17 billion by 2028 and exhibit a CAGR of 5.59% during the forecast period. The increasing popularity of aquafeed and the rising investments in the research and developments activities are projected to foster growth for the market. The market's growth is also ascribable to the increasing seafood trade due to the soaring seafood consumption and consumer expenditure on fish and…
Cricket Equipment Market Demand, Recent Trends, Size and Share Estimation by 202 …
The global cricket equipment market size was valued at USD 564.43 million in 2021 and USD 594.46 million in 2022. The market is expected to reach USD 897.02 million by 2029 with a CAGR of 6.05% during the forecast period. Growing demand for cricket bats and equipment from various institutions schools, colleges, cricket clubs, and fitness centers is anticipated to drive market growth. Increasing demand for customized sports products and cricket accessories…
More Releases for Jewelry
5 Reasons To Buy Your Rapper Jewelry From Laie Jewelry
The relationship between the world of hip-hop and precious stones' jewelers runs deeper than the surface. These accessories are revered as a display of affluence and ingrained culture.
The prices of ice are exuberant for the modest earner, and this is why we present you with an insanely attractive, healthy, and affordable option to keep up with the culture and embrace the trend.
In this store, you will be presented with…
Global Jewelry and Silverware Market | Global Jewelry and Silverware Industry | …
The jewelry and silverware market comprises of the sales of jewelry and silverware by several individuals such as organizations, sole traders and partnerships that establish an engrave, chase or etch jewelery, novelties or treasurable metal flatware; stamp coins; cut, slab, tumble, carve, engrave, polish or facet or recut, repolish or reorganized precious or semiprecious stones.
According to the report analysis, ‘Jewelry And Silverware Global Market Report 2020-30: Covid 19 Impact and…
Panjab Jewelry- A collection of trendy Jewelry
The jewelry trade is amongst the oldest form of businesses that has been prosperous since ages. Panjab Jewelry (PJPL) is a leading Manufacturing house in Amritsar, Punjab. Our aim is to take this industry to prominent heights by organizing this sector and further expanding into exports with a world-class quality product range having a special focus on Asian markets. At present, PJPL has laid their footprint and swept the markets…
Gems and Jewelry Market Classified into the Following Types: Gold Jewelry, Diamo …
This study researches the market size of Gems and Jewelry in United States, European Union and China, presents the Gems and Jewelry sales, revenue, market share and growth rate by companies, type and application, history breakdown data from 2013 to 2018, and forecast to 2025.
For top companies in United States, European Union and China, this report investigates and analyzes the sales, revenue, market share and growth rate for the top…
Global Jewelry Market Professional Survey Report 2017 - Graff Diamond, Caibai Je …
This report studies Jewelry in Global market, especially in North America, China, Europe, Southeast Asia, Japan and India, with production, revenue, consumption, import and export in these regions, from 2012 to 2016, and forecast to 2022.
This report focuses on top manufacturers in global market, with production, price, revenue and market share for each manufacturer, covering
Chow Tai Fook Jewelry Group
Richemont
Signet Jewellers
Swatch Group
Rajesh Exports
Lao Feng Xiang
Tiffany
Malabar Gold and Diamonds
LVMH Moet Hennessy
Shanghai Yuyuan
Daniel…
Global Gems and Jewelry Market 2017 - Chow Tai Fook Jewelry Group, Richemont
Worldwide Gems and Jewelry 2017 Research Report presents a professional and complete analysis of Global Gems and Jewelry Market on the current situation.
In the first part, the report provides a general overview of the Gems and Jewelry industry 2017 including definitions, classifications, Gems and Jewelry market analysis, a wide range of applications and Gems and Jewelry industry chain structure. The 2017's report on Gems and Jewelry industry offers the global…
