PORTLAND,OR, May 26, 2020 (GLOBE NEWSWIRE) — According to the report published by Allied market Research, the global costume jewelry industry garnered $32.9 billion in 2019, and is anticipated to hit $59.7 billion by 2027, registering a CAGR of 7.8% from 2020 to 2027. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.
Rise in online sales, changing jewelry styles and attractive marketing strategies, growing fashion consciousness, and high prices of gold and silver jewelry fuel the growth of the global costume jewelry market. On the other hand, import and trade laws and lack of durability impedethe growth to some extent. Moreover, inclination towards automation and increase in demand for artificial jewelry products is expected to pave the way for multiple opportunities in the near future.
In-depth analysis of the COVID-19 impact on the costume jewelry industry @ https://www.alliedmarketresearch.com/request-sample/2093
Covid-19 Scenarios-
- The costume jewelry sector has witnessed a slide in terms of sales and revenue due to the global lockdown, as malls, retails shops, and markets have come to a halt.
- The manufacturing processes in the industry have been delayed and consumer demand has been decreased.
Based on product type, the necklace and chains segment accounted for nearly one-fourth of the global costume jewelry market share in 2019. The segment is expected to rule the roost till 2027. Nevertheless, the rings segment is anticipated to cite the fastest CAGR of 8.9% throughout the forecast period.
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Based on gender, the female segment held the major share in 2019, accounting for nearly two-thirds of the global costume jewelry market. The segment is anticipated to maintain its dominance throughout the forecast period. At the same time, the male segment would showcase the fastest CAGR of 8.2% during the study period.
Based on geography, North America dominated the market, with nearly one-third of the global costume jewelry market revenue in 2019, and is projected to maintain its lead throughout the forecast period. On the other hand, the region across LAMEA is expected to manifest the fastest CAGR of 8.8% from 2020 to 2027. The report also analyzes regions including Asia-Pacific and Europe.
The key market players in the report include H & M Hennes&Mauritz AB, Zara, PRADA, Swank, Inc., Cartier, Billig Jewelers, Inc., BaubleBar Inc.Gianni Versace S.p.A, The Colibri Group, Swarovski Group, Gucci Group NV, Channel S.A., and PANDORA A/S.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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