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Leading Growth Driver in the Jewelry And Silverware Market in 2025: Rising Wedding Trends Fueling Growth In The Jewelry And Silverware Market Driver's Influence
Jewelry And Silverware
The rise in the number of weddings is predicted to impact the jewelry and silverware market positively. There is significant demand for items made from gold, silver, diamonds, and other precious materials, as high amounts are spent on matrimonial ceremonies and festivities. To illustrate, in the United States, a report from the Centers for Disease Control and Prevention (CDC) in March 2024 revealed that 2,065,905 weddings were recorded in 2022. This resulted in a marriage rate of 6.2 per 1,000 people out of a population of 333,287,557, a rise from 1,985,072 marriages and a rate of 6.0 per 1,000 in 2021 when the population was 331,893,745. Consequently, the projected increase in the global number of weddings is poised to fuel the growth of the jewelry and silverware market.
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What is the future CAGR of the jewelry and silverware market, and how will it impact industry expansion?
The market size for jewelry and silverware has substantially expanded in the past few years. The market is projected to surge from $219.27 billion in 2024 to $234.8 billion in 2025, boasting a compound annual growth rate (CAGR) of 7.1%. The historic period's growth can be traced back to factors such as cultural importance, financial affluence, special events, craftsmanship and artistry, precious metal price fluctuations, market globalization, and strategic marketing and branding.
The market for jewelry and silverware is forecasted to witness significant expansion in the upcoming years, reaching a market valuation of $302.08 billion by 2029, with a compound annual growth rate (CAGR) of 6.5%. The expected growth during the forecasted period can be credited to factors such as sustainable practices, the impact of social media, changes in consumer demographics, integration of smart jewelry, global luxury markets and the popularity trend of vintage and antique styles. The forecast period also reveals expected trends including handcrafted and artisanal jewelry, novel designs in jewelry, smart and wearable jewelry, the adoption of mixed materials and textures in jewelry, as well as direct-to-consumer and online sales.
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What are the most significant trends transforming the jewelry and silverware market today?
Manufacturers in the jewelry and silverware sectors have embraced CAD software due to its unparalleled ability to supply precise measurements. CAD, or computer-aided design software, is commonly used by engineers and architects to produce detailed drawings of objects. The application of CAD in jewelry production has helped manufacturers to customize jewelry to the exact specifications of customers with immense precision. This technology not only lowers the manufacturing expense by constructing a digital model, but it also duplicates it during the production process.
Which key market segments comprise the jewelry and silverware market and drive its revenue growth?
The jewelry and silverware market covered in this report is segmented -
1) By Type: Jewelry, Silverware
2) By Distribution Channel: Online Stores, Specialty Stores, Hyper markets, Other Distribution Channels
3) By End-User Sex: Men, Women
Subsegments:
1) By Jewelry: Fine Jewelry, Fashion Jewelry, Handmade Jewelry, Personalized And Custom Jewelry
2) By Silverware: Tableware, Decorative Items, Collectible Silverware, Functional Silverware
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What regions are at the forefront of jewelry and silverware market expansion?
Asia-Pacific was the largest region in the jewelry and silverware market in 2024. Western Europe was the second largest region accounting in The jewelry and silverware market. The regions covered in the jewelry and silverware market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the leading players fueling growth in the jewelry and silverware market?
Major companies operating in the jewelry and silverware market include Berkshire Hathaway Inc., Tiffany & Co., Christian Dior SE, Compagnie Financiere Richemont SA, Kering SA, Pandora A/S, James Avery Craftsman Inc., The Swatch Group, Titan Ring Designs LLC, Silvesto India Private Limited, Reed & Barton, Wheeler Manufacturing Co. Inc., Lunt Silversmiths, Rockleigh Industries Inc., DM Jewelry Design Studio, Mangla International, Gorham Company, International Silver Company, Custom Fashion Jewels, Navika USA Inc., Kole Design, Lavie Jewels, Towle Manufacturing Company, Derewala Industries Limited, Frank Smith Silver Company, Akrati Jewels Inc, Dwarka Jewel, Kanhai Jewels, Gayatri Gems And Jewels Private Limited, Tokan Inc, Sun Diamonds Pvt. Ltd., Tuttle Silver Company, Wallace Silversmiths
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What Is Covered In The Jewelry And Silverware Global Market Report?
•Market Size Forecast: Examine the jewelry and silverware market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the jewelry and silverware market for a structured understanding.
•Key Players Overview: Analyze major players in the jewelry and silverware market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the jewelry and silverware market.
•Segment Contributions: Evaluate how different segments drive overall growth in the jewelry and silverware market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the jewelry and silverware market.
•Industry Challenges: Identify potential risks and obstacles affecting the jewelry and silverware market.
•Competitive Landscape: Review strategic developments in the jewelry and silverware market, including expansions, agreements, and new product launches.
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