costume jewelry market was assessed at $32.9 billion in 2021 and is determined to reach $59.7 billion by 2027, developing with a CAGR of 7.80% from 2021-2027

HYDERABAD, TELANGANA, INDIA, November 23, 2022 /EINPresswire.com/ -- The costume jewelry market was assessed at $32.9 billion in 2021 and is determined to reach $59.7 billion by 2027, developing with a CAGR of 7.80% from 2021-2027.

Costume jewelry includes a range of decorative items worn for personal adornment that are manufactured as less expensive ornamentation to complement a particular fashionable outfit or garment as opposed to real jewelry. The costume jewelry is often made with base metals, such as brass, aluminum, or copper. These inexpensive metals become tarnished easily and can even cause irritations or allergic reactions. Costume jewelry is generally very cheap and can be found in just about every clothing store and online. The costume jewelry is unlike real gold, costume jewelry can tarnish but that doesn’t mean it has to be thrown out.

Market Drivers:

The main factors that have considerably increased the demand for the costume jewelry market. The increasing consumer preference toward cost-effective jewelry items is driving the market’s revenue. The increasing disposable income drives market growth. The rising popularity of online shopping drives market growth. The rising number of fashion-conscious consumers globally drives the market growth. The growing demand for fashion awareness adoption of western culture is the major factor driving the market growth. The increasing price of gold and the rise in the price of gold, diamonds, and precious materials drive market growth.

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Market Restraints:

The availability of counterfeiter products is the major factor to restrain the market growth.

Market Segmentation:

Costume Jewelry Market - By Type:

Necklace/Chain
Ring
Bracelet
Earrings
Others

The Ring segment was recorded as the largest market share in the costume jewelry market in 2022 and it is anticipated to grow significantly during the forecast period.

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Costume Jewelry Market – By Gender:

Male
Female

Females held the largest share of the costume jewelry market in 2022 and it is anticipated to grow significantly during the forecast period.

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Costume Jewelry Market - By Distribution Type:

Online Stores
Offline Stores
Based on the distribution channel:

The Online Stores segment held the largest share market in the costume jewelry market in 2022 and it is anticipated to grow significantly during the forecast period.

Regional Analysis:

North America
Europe
Asia Pacific
Latin America
Middle east and Africa

Europe is the largest growing region in the costume jewelry market and is expected to grow significantly during the forecast period. Europe has a high availability in the countries such as the U.K., Germany, France, Italy Spain, Russia, Austria, Turkey, Belgium, and the Netherlands. The reason for this dominance of the region is the growth and popularity costume jewelry market and the increasing demand for clothing and accessory products and this is likely to create growth in the region’s market. The growing demand for traditional jewelry drives the region’s market growth. Italy is the largest market supporting the growth of costume jewelry. There has been rapid growth in the costume jewelry market in the region leading to global market growth.

The Asia Pacific is expected to be growing lucratively in the costume jewelry market.

Latest Industry Developments:

In September 2nd, so far 2020 has been a pretty unusual and devastating year for almost everybody. The New Orleans Fall Jewelry & Bead Show can help bring some sense of normalcy and fun back to our daily lives. Bring friends and family to get everything you need to make your Halloween jewelry. The New Orleans Fall Jewelry & Bead Show 2020 kicks off on Friday, September 18th.

On Jan. 22, 2021 -- America's foremost luxury jewelry brand, David Yurman, presents their Spring 2021 campaign, "My New York." Creative directed by Chief Creative Officer, Evan Yurman, shot by Manhattan-based photographer Lachlan Bailey and styled by Anastasia Barbieri, the campaign features David Yurman brand ambassadors and returning models Joan Smalls and Taylor Hill. The campaign celebrates "My New York" as the brand and founders' home, and as a constant source of inspiration and creativity for the family.

In February 2020, Mango, a Jewellery manufacturer and seller launched 3D printed costume jewelry capsule collection that consists of jewelry products made up of 90% sustainable material.

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