Imitation Jewelry Market Size was valued at USD 14.2 Billion in 2022. The Imitation Jewelry market industry is projected to grow from USD 15.09 Billion in 2023 to USD 24.6 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 3.42% during the forecast period (2022 - 2032). Rising number of working women and continuous growth of e-commerce market are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Market CAGR for imitation jewelry is being driven by the rising price of gold and other precious pearls and materials. Imitation jewelry is defined as being constructed of inexpensive metals and gems. Affordably priced metals like brass, nickel, sterling silver, steel, silver, or metals that have been gold-plated are used to make the majority of counterfeit jewellery. Additionally, there are jewels like Lucite and rhinestones. The expense of purchasing gemstones, diamonds, and solid gold when it comes to matching jewelry pieces for various occasions and outfits is very high, thus buyers are turning to counterfeit jewelry to find a compromise between being fashionable and staying within their budgets. Imitation jewelry is a stunning piece of jewelry that is copied at a much lower price.
Additionally, over the course of the projected period, rising demand is expected to cause the worldwide market for imitation jewellery to grow fast. The increasing isation of brands, the rising prices of gold, other precious stones, and pearls, as well as the expanding popularity of male costume jewellery, are the main drivers of growth for the market for imitation jewellery. The whole industry is expected to expand over the next years as a result of rising teen fashion awareness and the availability of cheaply priced stylish jewellery. For the imitation jewelry market, there are numerous marketing techniques available, as significant players receive the chance to increase their exposure to a large audience; these techniques present opportunities for imitation jewelry market. The worldwide industry will prosper with greater sales if each major player implements effective marketing techniques.
It is considerably simpler to create a collection for both informal and formal situations thanks to costume jewelry's affordable price. In general, working women prefer to switch up their jewelry—including rings, neckpieces, and earrings—to complement their clothing. Costume jewelry is now more widely used as a result of the sharp spike in gold costs. Costume jewelry is less dangerous to wear than genuine jewelry. Wearing false jewelry gives customers a sense of security in today's world, where theft and crime are on the rise. Costume jewelry is readily available, comes in a plethora of gorgeous styles, and is inexpensive.
For instance, women have attained complete independence; they are no longer limited to the house and have enlisted in the workforce in large numbers. Due to the fact that they either hold executive positions or manage their own enterprises, working women represent a sizeable portion of the costume jewelry market in India. More money is now available as a result. Thus, this results in driving the Imitation Jewelry market revenue.
The Imitation Jewelry market segmentation, based on Product type includes Necklace and Chains, Rings, Bracelets, Studs and Cufflinks, and Others. Due to the broad availability of various necklace and chain items in various fashion stores, the necklace and chain segment is anticipated to account for a significant portion of the market. Additionally, the higher segmental revenues are a result of the necklace and chain items' higher pricing compared to those of other types.
The Imitation Jewelry market segmentation, based on End-User includes Women, Men, and Unisex. Due to the fact that women are more mindful of their looks and personal grooming practices, it is projected that the women segment would account for a sizable portion of the industry. Additionally, the greater segmental proportion of the market is due in part to the abundance of jewelry goods sold to women as opposed to other market segments.
Figure1: Imitation Jewelry Market, by Distribution channel, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The Imitation Jewelry market segmentation, based on distribution channel, includes store based and non-store based. The store-based category generated the most income. This is due to the fact that most clients want to physically inspect the jewelry before making a purchase in order to ensure that it meets their standards and quality. As a result, the current years will also see no change in the tendency of buying jewelry from retail stores.
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American Imitation Jewelry market area will dominate this market, due to an increase in the number of persons attracted to the imitation jewelry instead of jewelry made of high priced material like gold. This increased attraction of people towards imitation jewelry has boosted the sale of imitation jewelry in this region.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure2: IMITATION JEWELRY MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Imitation Jewelry market accounts for the second-largest market share. A considerable amount of costume jewelry is consumed by people in the region to complete their fashionable wardrobe as a result of the rising demand for clothes and accessory products in nations like Italy and France. Further, the German Imitation Jewelry market held the largest market share, and the UK Imitation Jewelry market was the fastest growing market in the European region
The Asia-Pacific Imitation Jewelry Market is expected to grow at the fastest CAGR from 2023 to 2032. Because, there are so many developing nations in the area, there is a significant demand from consumers for affordable fashion accessories, which is predicted to increase artificial jewelry consumption in the Asia Pacific region. Moreover, China’s Imitation Jewelry market held the largest market share, and the Indian Imitation Jewelry market was the fastest growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Imitation Jewelry market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Imitation Jewelry industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Imitation Jewelry industry to benefit clients and increase the market sector. In recent years, the Imitation Jewelry industry has offered people with some of the most beautiful and affordable jewelries. Major players in the Imitation Jewelry market, including LOUIS VUITTON (France), Stuller, Inc. (US), Yurman Design, Inc. (US), Billig Jewelers, Inc. (US) DCK Concessions (UK), Avon Product Inc. (US), BaubleBar Inc. (US), Buckley Jewellery Limited (UK), and Gianni Versace Sp.A. (Italy) are attempting to increase market demand by investing in research and development operations.
Louis Vuitton, the French luxury fashion firm Louis Vuitton Malletier produces high-end clothing. The LV monogram may be seen on the majority of the brand's items, which include anything from high-end bags and leather goods to ready-to-wear, shoes, perfumes, watches, jewellery, accessories, sunglasses, and books. One of the most prestigious fashion houses is Louis Vuitton. It offers its goods through independent boutiques, lease sections in upscale department stores, and the online storefront on its website. In 2020, the third-largest rough diamond ever discovered was dug by Lucara Diamond in their mine in Botswana, and the business bought it from them to use as the Sewelô diamond.
David Yurman Enterprises LLC is the name of a privately held jewellery business in the United States. Yurman creates collections in both sterling silver and gold and is renowned for his mixed metal creations. Many pieces of jewellery made of sterling silver have pavé diamonds. David and Sybil Yurman, the David Lipman advertising agency, and Peter Lindbergh collaborated on their first advertising campaign. In the St. Barts photoshoot for the brand, Amber Valletta represented the company. In 2019, The David Yurman firm was given $1,550,000 in default judgement, as well as a permanent injunction against 31 defendants, by the United States District Court for the Southern District of New York. The defendants ran a network of websites that sold imitation David Yurman products while violating the company's trademarks.
Key Companies in the Imitation Jewelry Market Include
Imitation Jewelry Industry Developments
May 2019: AKS Jewels, a manufacturer of bracelets and necklaces, expanded the range of its product line by entering the costume jewellery industry in India.
February 2020: Mango, a manufacturer and retailer of jewellery, unveiled their 3D-printed costume jewellery capsule collection, which features jewellery items composed of 90% sustainable materials.
November 2022: Avon made the decision to establish top-tier R&D facilities in Poland and Brazil, where it already has agents and customers. In order to create a seamless supply chain network in two of their biggest markets, this is a component of Avon's Open Up and Grow strategy. Their 125-year-old R&D centre in Suffern, New York, would be forced to close as a result of this.
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 15.09 Billion |
| Market Size 2024 | USD 18.80214 Billion |
| Market Size 2032 | USD 24.6 Billion |
| Compound Annual Growth Rate (CAGR) | 3.42% (2024-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product Type, End-User, and Distribution Channel, and Region |
| Geographies Covered | North America, Europe, AsiaPacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Â LOUIS VUITTON (France), Stuller, Inc. (US), Yurman Design, Inc. (US), Billig Jewelers, Inc. (US), DCK Concessions (UK), Avon Product Inc. (US), BaubleBar Inc. (US), Buckley Jewellery Limited (UK), and Gianni Versace Sp.A. (Italy) |
| Key Market Opportunities | Changes in lifestyle, a rise in disposable income, and a surge in precious metal Jewelry prices. |
| Key Market Dynamics | These strategies act as opportunities, as key players are getting a chance to spread their exposure to a wide audience |
Imitation Jewelry Market Highlights:
Frequently Asked Questions (FAQ) :
The Imitation Jewelry market size was valued at USD 14.2 Billion in 2022.
The market is projected to grow at a CAGR of 6.30% during the forecast period, 2023-2032.
North America had the largest share in the market.
The key players in the market are LOUIS VUITTON (France), Stuller, Inc. (US), Yurman Design, Inc. (US), Billig Jewelers, Inc. (US), DCK Concessions (UK), Avon Product Inc. (US), BaubleBar Inc. (US), Buckley Jewellery Limited (UK), and Gianni Versace Sp.A. (Italy).
The Women dominated the market in 2022.
The store based had the largest share in the market.
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