Jewelry Manufacturing Market Driven by Growing Consumer Disposable Incomes

Transparency Market Research elaborates on the scope of growth for manufacturers, distributors and investors in jewelry manufacturing, in “Jewelry Manufacturing Market - Global Industry Analysis, Size, Share, Growth, Trends, Forecast 2016 – 2024.”

One of the key factors driving the global jewelry manufacturing market currently, is the increasing number of consumers with improving disposable incomes across the world. While developed economies have consistently been high consumers of jewelry, emerging economies are where most players – leading as well as regionally prominent – are finding greater opportunities.

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Based on current demographic research, females take up the bulk of the consumer pool in the global jewelry manufacturing market. Younger females are especially showing a high interest in high quality jewelry, especially from known manufacturers. Their demand for jewelry is further fueled by their growing disposable incomes.

From the perspective of jewelry manufacturers, the global jewelry manufacturing market is being augmented through the use of modern cost-cutting processes and tools that are aimed at improving the quality, rate of manufacture, and reduction of wasting. Larger players in the global jewelry manufacturing market are focused on the development of these processes, while local players do hold the advantage of selling niche jewelry at low costs that can be specifically appealing to their region of sales. At the same time, the leading players in the global jewelry manufacturing market can offer a much more diverse array of products with respect to quality and costing.

Regionally speaking, the global jewelry manufacturing market has been dominated by North America for a considerable time, followed by Europe. Emerging economies from Latin America and Asia Pacific are swiftly ramping up their demand for jewelry as well as raw materials, thanks to the increasing interest consumers are showing in higher quality products and global brands. The North America markets for jewelry are, however, extremely fragmented, with local players in the U.S. having taken up nearly 70% of the revenue of the country in 2015.

The demand for global jewelry has also been supplemented massively by the booming eCommerce industry. Online sales of jewelry are growing at an exponential rate, thanks to the growing collection of jewelry being made available on the more prominent eCommerce portals, as well as the emergence of new ones, especially ones specifically meant for the distribution of jewelry. The eCommerce industry is also giving local players a massive platform for growth due to their massive outreach as well as ease of distribution options.

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The leading players in the global jewelry manufacturing market in recent times, have included Richline Group, James Avery Craftsman, Tiffany, Bulgari, Cartier, D Swarovski & Co., Gitanjali Gems, Pandora, and Kingold Jewelry.

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