Gems and Jewelry market research provides actionable intelligence on major parameters impacting the market; analyses the market performance of key companies; market dynamics of key segments; outlines the market performance across global regions. The insights of industry over past 5 years and a forecast until 2022 is provided.
The global gems and jewelry market is highly fragmented with the presence of numerous players. Jewelry like bangles and bracelets, neck chains, necklaces, finger rings, and earrings are made of different metals and gemstones. The driving factors for this market are the growing middle-class population base and increase in their spending power. These attributes encourage jewelry manufacturers to innovate and create designs to attract more customers. The changing lifestyle of the customers and rise in urbanization have resulted in the evolution of the tastes of the customers and consequently in demand.
Firstly, the Gems and Jewelry market research report provides a basic overview of the industry including definitions, market status and industry chain structure. The Gems and Jewelry market analysis is provided for the international market including development history, competitive landscape analysis, and major regions’ development status. What’s more, the Gems and Jewelry industry development trends and growth patterns are analyzed.
Gems and Jewelry market potential is analysed for each geographical region based on the growth rate, macroeconomic parameters, consumer buying patterns, demand and present scenarios in Gems and Jewelry industry. To determine the Gems and Jewelry market size the report considers the value sales of the jewelry products.. Further the Gems and Jewelry market report focuses on global major leading industry players with information. Report contains vendor landscape in addition to a SWOT analysis of the key vendors operating in Gems and Jewelry market space like Chow Tai Fook Jewellery, LVMH, Rajesh Exports, Richemont, and Signet Jewelers.
Gems and Jewelry Market Drivers, Challenges and Trends:
Gems and Jewelry Market Driver: – one of the major drivers for this market is economic growth in major jewelry markets, expanding middle class population, and inflationary pressures. The demand for gold jewelry increases with the rise in income levels. Countries like China and India are the major consumers of gold jewelry, thereby dominating both markets. The increase in demand for gold jewelry in these major markets is due to certain factors. These are economic growth, rising middle-class population base, and increased aspiration of purchasing gold jewelry among the middle-class population base. The increase in income levels has boosted the demand for gold in these markets.
Gems and Jewelry Market Challenge: – one of the major factors hindering the growth of this market is growing preference for designer, luxury fashion, and smartphones in urban areas. Consumers of urban areas have high disposable incomes. However, the purchase of jewelry is a rare occasion. This is because consumers prefer to buy luxury, designer, and fashionable wearables such as designer apparels and luxury watches. This is a major challenge that the global gems and jewelry market faces that can drop the volumes sales of jewelry during the forecast period. Smartphones are the other substitutes of jewelry. The demand for smartphones can alter the growth in demand for jewelry. Young urban customers are tempted to buy luxury fashion items and smartphones instead of gold jewelry or any other jewelry. Therefore, the growing preference of these substitutes in urban areas among people serve as major challenges for the global gems and jewelry market.
Gems and Jewelry Market Trend: – The latest trend gaining momentum in the market is growing urbanization leading to evolution in consumer demand. The rise in the rate of urbanization plays an important role in the market growth of countries with large jewelry markets. With more number of people becoming urbane, their tastes and preferences are undergoing changes. This is because people in cities are influenced by global styles and adapt to new lifestyles. These changes in lifestyle and preferences have impacted the global gems and jewelry market. Urbanization has resulted in the economic growth of many countries
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