Africa Costume Jewelry Market is Projected to Grow Expeditiously: to Reach USD 1.6 Billion by 2032, Report

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.

𝐋𝐈𝐌𝐈𝐓𝐄𝐃-𝐓𝐈𝐌𝐄 𝐎𝐅𝐅𝐄𝐑 (𝐓𝐢𝐥𝐥 30 𝐉𝐀𝐍 2025) - 𝐁𝐮𝐲 𝐍𝐨𝐰 & 𝐆𝐞𝐭 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭 𝐨𝐧 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 https://www.alliedmarketresearch.com/checkout-final/19bc0b9e60465255cc7a3090759b4b8d

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.

𝐊𝐧𝐨𝐰 𝐌𝐨𝐫𝐞- https://www.globenewswire.com/news-release/2023/11/07/2774684/0/en/Africa-Costume-Jewelry-Market-to-Reach-1-684-8-Million-by-2032-at-9-2-CAGR-Allied-Market-Research.html

𝐒𝐢𝐦𝐢𝐥𝐚𝐫 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐢𝐧 𝐂𝐨𝐧𝐬𝐮𝐦𝐞𝐫 𝐆𝐨𝐨𝐝𝐬 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲
𝐃𝐢𝐬𝐩𝐨𝐬𝐚𝐛𝐥𝐞 𝐂𝐮𝐩𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 https://www.alliedmarketresearch.com/disposable-cups-market-A06764
𝐄𝐥𝐞𝐜𝐭𝐫𝐢𝐜 𝐑𝐚𝐧𝐠𝐞𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 https://www.alliedmarketresearch.com/electric-ranges-market-A06769

Contact:
Davin Correa
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int'l: +1-503-894-6022
Toll Free: +1-800-792-5285
Fax: +1-800-792-5285
help@alliedmarketresearch.com
Web: www.alliedmarketresearch.com
Allied Market Research Blog: https://blog.alliedmarketresearch.com
Follow Us on | Facebook | LinkedIn | YouTube |

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

This release was published on openPR.