Global Jewellery Market: Size, Trends and Forecast (2019-2023)
- Report Description Table of Contents
Scope of the Report
The report entitled “Global Jewellery Market: Size, Trends and Forecast (2019-2023)” provides an in-depth analysis of the jewellery market including detailed description of market sizing and growth. The report provides analysis of the jewellery market by value and by metals and stones. The report also provides detailed analysis of the gold, diamond, platinum and other gems and jewellery market.
Moreover, the report also assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry. Growth of the overall global jewellery market has also been forecasted for the period 2019-2023, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.
The major players dominating the jewellery market are Pandora, Tiffany & Co., Richemont (Cartier), Swarovski, Chow Tai Fook Jewellery Group Limited and Signet Jewelers Ltd. The six companies have been profiled in the report providing detailed analysis of their financial information and business strategies.
- Tiffany & Co.
- Richemont (Cartier)
- Chow Tai Fook Jewellery Group Limited
- Signet Jewelers Ltd.
Jewellery refers to ornaments made from precious metals and stones. Various kinds of jewellery include necklaces, rings, earrings etc. Jewellery is mainly worn as an accessory to enhance the beauty of the human body. Jewellery is also regarded as a mark of status. People with higher incomes demand branded and luxury jewellery products such as diamond and platinum. On the other hand, the demand for gold and silver jewellery comes mainly from the middle class population.
Various steps involved in jewellery manufacturing includes designing, casting, divestment, finishing, stone setting and rhodium plating. Jewellery is mainly used as an ornament but also serves as a mode of investment, particularly gold jewellery. It also serves a devotional purpose and is used to reflect different cultures and feelings.
The jewellery market has been segmented on the basis of type, assortment, platform, branding, metals and gender. The two main types of jewellery are fine jewellery and costume jewellery. On the basis of assortment, the market has been divided into rings, neckwear, earrings etc. Jewellery market can also be segmented on the basis of branding into branded and unbranded jewellery. Various kinds of metals included in jewellery market are gold, silver, diamond, platinum, gems etc. On the basis of platform, the market has been divided into online and offline jewellery market.
The global jewellery market has witnessed continuous growth in the past few years and is projected to grow even further during the forecast period (2019-2023). The market is expected to be driven by various growth enhancing factors such as the growing number of digital buyers, growing female workforce population, increasing middle class population, growing high net worth individuals (HNWI) population, growth of international tourism etc. However, the market is not free from challenges that are hindering its growth. Some of the major challenges faced by the market are declining rough-diamond mine supply, e-commerce fraud and delayed marriages among the youth.