The Rising Demand For Fashion Jewelry And Increasing Exports Of Gems And Jewelry To Boost The Gems And Jewelry Market Growth

 

Gems And Jewelry

Gems and Jewelry Market is segmented by Product Type (Rings, Necklaces, Earrings, Bracelets, Chains and Pendants, and Other Product Types), Distribution Channel (Offline Retail Stores and Online Retail Stores), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)- Size, Share, Outlook, and Opportunity Analysis, 2022 – 2030

The Gems and Jewelry Market is estimated to be valued at US$ XX million in XXX and is expected to exhibit a CAGR of XX% over the forecast period, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Gems And Jewelry are decorative ornaments worn on fabrics or the body that are generally designed of precious and costly metals, such as gold, silver, and valuable stones. There are various gems and jewelry which are modified and are available in rings, chains, pendants, earrings, bracelets, and necklace, and other things.

Competitive Landscape:

Key players involved in the global gems and jewelry market are The Swatch Group AG, Signet Jewelers, Chow Tai Fook Jewelry Company Limited, LVMH, Buccellati, PANDORA JEWELRY LLC, Tata Sons Private Ltd, De Beers Jewellers US Inc., Richemont, and Swarovski Crystal Online AG.

Market Key Drivers:

The rising demand for fashion jewelry and increasing exports of Gems and Jewelry Market is expected to boost the growth of global gems and jewelry market. For instance, as per a report, India exported around US$ 23.65 billion than US$ 11.482 billion gems and jewelry in 2021.

The rising demand of gold jewelry is projected to boost the growth of the global Gems and Jewelry Market. For instance, as per IBEF, India’s gold demand was ranked at 797.30 tons in 2021 and reached 800-850 tons in 2022.

Covid-19 Impact Analysis:

The Covid-19 outbreak had an adverse impact on the growth of the global Gems and Jewelry Market as the surge in pandemic cases led to closure of all the jewelry shops. The making of jewelry was at a halt owing to the shutdown and the disruption in supply chain and manufacturing units. The high prices of gold during the pandemic also impeded the market growth.

Key Takeaways:

The global Gems and Jewelry Market is anticipated to exhibit a CAGR of XX % during the forecast period owing to rising investments in the jewelry. For instance, as per IBEF, in September 2021, around US$ 100 million (INR 750 Crore) was invested in a gold refinery and the jewelry unit by Malabar Group.

Among regions, North America, Europe and Asia Pacific are expected to witness robust growth in global Gems and Jewelry Market due to rising demand of fashion jewelry, rising per capita income, increasing collaborations and partnerships and quick product launches and approvals. For instance, In March 2021, Nirwaana- an Indian based Company introduced its new couple-synchronized collection called I STILL DO. The brand aims to offer a pleasing experience for online jewelry shopping. 

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