ID: MRFR/CR/8921-HCR | February 2021 | Region: Global | 90 pages
Global Imitation Jewelry Market size is projected to reach approximately USD 22 Billion by 2027, at a CAGR of 6.3% from 2020 to 2027. Imitation jewelry is made from inexpensive metals and gemstones. It includes necklaces & chains, earrings, rings, bracelets, and cufflinks & studs. The increasing demand for imitation jewelry among the growing working population is driving the market. The rise in the number of fashion-conscious consumers and the growing popularity of imitation jewelry among the youth are supporting the growth of the global imitation jewelry market. Furthermore, due to the high prices of gold and silver jewelry, consumers are more inclined towards imitation jewelry. Product launches by the key players are driving the growth of the global imitation jewelry market. For instance, in 2017, Cartier introduced new love bracelet designs among consumers to increase the customer base. Manufacturers are also focusing on product innovation and launching the latest designs in imitation jewelry. An increase in demand for artificial jewelry products among the consumers is expected to create an opportunity for the manufacturers.
The outbreak of COVID-19 has resulted in lockdown across regions, border restrictions, and breakdown of transportation networks. The COVID-19 outbreak has flipped the growth switch in every sector of the economy. The coronavirus pandemic has forced countries all over the world to impose the lockdown. The outbreak has surged the demand for imitation jewelry around the world.
Global Imitation Jewelry Market has witnessed high growth in recent years. The pandemic has created lucrative opportunities for imitation jewelry manufacturers across the globe. Other drivers expected to fuel the growth of the global imitation jewelry market are frequent product innovations. Innovative marketing campaigns on social media uplift market growth. To cater to the trending consumer needs, market players are focusing on the launch of innovative products with claims such as modern imitation jewelry with excellent decorative accessories. Furthermore, the rise in sales of imitation jewelry through supermarkets & hypermarkets is further expected to amplify the growth of the global market during the forecast period. The outbreak of a global pandemic, COVID-19 has created lucrative opportunities for imitation jewelry manufacturers across the globe.
The growing popularity of imitation jewelry among fashion-conscious consumers
By Product Type
By Distribution Channel
|Market Size||USD 22 Billion|
|CAGR||6.3% (2020 to 2027)|
|Forecast Period||2020 to 2027|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Product Type, End-User and Distribution channel|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||LOUIS VUITTON (France), Yurman Design, Inc. (US), Billig Jewelers, Inc. (US), Avon Product Inc. (US), Stuller, Inc. (US), BaubleBar Inc. (US), DCK Concessions (UK), Buckley Jewellery Limited (UK) and Gianni Versace S.p.A. (Italy)|
|Key Market Opportunities||
|Key Market Drivers||