Asia, SCAN, Middle America Events Industry Market Projected Expansion to $740.2+ Billion Market Value by 2032, with a 8.8% CAGR from 2023 to 2032

Allied Market Research published a report, titled, "Africa Costume Jewelry Market by Product Type (Necklaces & Chains, Earrings, Rings, Cufflinks & studs, Bracelets, and Others), Gender (Male, and Female) and Mode of Sale (Retail Channel and Online Channel), Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, The Africa costume jewelry market size was valued at $688.3 million in 2022 and is projected to reach $1,684.8 million by 2032, growing at a CAGR of 9.2% from 2023 to 2032.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.alliedmarketresearch.com/request-sample/255408

Costume jewelry, in contrast to more costly materials such as gold, diamonds, platinum, pearls and other gemstones, is crafted from more affordable materials. It goes by several names, including junk, imitation, trinkets, and fashion jewelry. It comes in a variety of styles, including rings, bangles, necklaces and earrings, offering customers a wide range of options for their accessories. Costume jewelry is designed to complement various outfits. The production of costume jewelry involves the use of a diverse range of raw materials, including glass, metals, beads, synthetic stones, plastic, semi-precious stones, and ivory.

Prime Determinants of Growth

The Africa costume jewelry market is driven by factors such as rise in fashion conscious consumers and innovation in jewelry design and integration of African culture in the jewelry. However, limited supply chain infrastructure and less durability of costume jewelry restrict the market growth. Moreover, the growth of the tourism industry offers new opportunities in the coming years.

𝐆𝐫𝐚𝐛 𝐭𝐡𝐞 𝐨𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐲 !!! 𝐋𝐈𝐌𝐈𝐓𝐄𝐃-𝐓𝐈𝐌𝐄 𝐎𝐅𝐅𝐄𝐑 - 𝐁𝐮𝐲 𝐍𝐨𝐰 & 𝐆𝐞𝐭 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 15 % 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭 𝐨𝐧 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 https://www.alliedmarketresearch.com/checkout-final/98d670d3b71529575576699d9454e6c7

The earrings segment to maintain its leadership status throughout the forecast period

Based on product type, the earrings segment dominated the market in 2022 accounting for more than one-fifth of the market share and is expected to dominate the market during the forecast period, owing to the availability of lightweight earrings in a diverse range of designs and colors that effortlessly complement outfits. The rings segment is projected to cite the highest CAGR of 10.7% from 2023 to 2032.

The female segment to maintain its lead position during the forecast period

n the basis of the gender, the female segment dominated the market in 2022 accounting for nearly two-thirds of the market share and is expected to maintain its dominance during the forecast period. The shift among female consumers from high-end gold and diamond jewelry toward lightweight costume jewelry, driven by customization options and changing fashion trends. The rise in spending capacity, particularly among working women, further supports the demand for costume jewelry. The male segment, on the other hand, would cite the highest CAGR of 9.8% from 2023 to 2032.

The retail channel segment to maintain its lead position during the forecast period

On the basis of the mode of sale, the retail channel segment dominated the market in 2022 accounting for more than four-fifths of the market share and is expected to maintain its dominance during the forecast period. The increasing emphasis on experiential retail, in which brick-and-mortar establishments focus on providing immersive and interesting shopping situations. Retailers are investing in aesthetically appealing store design, engaging displays, and informed employees to improve the entire shopping experience for customers. The online sales, however, would portray the fastest CAGR of 10.1% from 2023 to 2032.

Rest of Africa to maintain its dominance by 2032

Based on region, Rest of Africa held the highest market share in terms of revenue in 2022, accounting for nearly three-fourths of the Africa costume jewelry market revenue and is likely to dominate the market during the forecast period owing to a rising desire among consumers across the rest of Africa for costume jewelry that shows cultural significance and traditional workmanship. Customers are drawn to jewelry that incorporates regional patterns, symbols, and resources, allowing them to express their cultural identity. Furthermore, the west Africa region is anticipated to manifest the highest growth with 9.8% CAGR from 2023 to 2032.

𝐄𝐧𝐪𝐮𝐢𝐫𝐞 𝐛𝐞𝐟𝐨𝐫𝐞 𝐛𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/255408

Leading Market Players: -
Compagnie Financière Richemont SA
H&M Group
Colette by Colette Hayman
Giorgio Armani S.p.A.
Natura &Co
Woolworths Holdings Limited
Dangote Industries Limited
Claire's Stores, Inc.
Jumali Accessories
Authentic Brands Group LLC.

The report provides a detailed analysis of these key players in the Africa costume jewelry market. These players have adopted different strategies such as acquisition, partnerships, and new product launches to increase their market share and maintain dominant shares in the market. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

𝐊𝐧𝐨𝐰 𝐌𝐨𝐫𝐞- https://www.alliedmarketresearch.com/asia-scan-middle-america-events-industry-market-A207604

𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐢𝐧 𝐂𝐨𝐧𝐬𝐮𝐦𝐞𝐫 𝐆𝐨𝐨𝐝𝐬 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲

𝐃𝐢𝐬𝐩𝐨𝐬𝐚𝐛𝐥𝐞 𝐂𝐮𝐩𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 www.alliedmarketresearch.com/disposa…ket-A06764

𝐀𝐮𝐬𝐭𝐫𝐚𝐥𝐢𝐚 𝐊𝐢𝐝𝐬 𝐖𝐞𝐚𝐫 𝐌𝐚𝐫𝐤𝐞𝐭 www.alliedmarketresearch.com/austral…et-A310050

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