India Costume Jewelry Market Size is Likely to Reach a Valuation of Around $2,126.3 Million by 2027 –

India Costume Jewelry Market

According to a new report, The India Costume Jewelry market segmentation is done on the basis of type, gender, and mode of sale.

5933 NE WIN SIVERS DRIVE, PORTLAND, OR, UNITED STATES, September 15, 2022 /EINPresswire.com/ — According to a new report published by Allied Market Research, titled, “India Costume Jewelry Market by Product Type, Gender and Mode of Sale: Global Opportunity Analysis and Industry Forecast, 2019–2027,” The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.

The India Costume Jewelry market size was valued at $1,788.6 million in 2019, and is estimated to reach $2,126.3 million by 2027, registering a CAGR of 7.0% from 2019 to 2027.

Costume jewelry is made of a variety of materials, including metal, plastic, and glass. To create appealing pieces of jewelry, intricate designs and patterns made of these materials are decorated with beads, precious stones, and semi-precious stones. Consumers have a large selection of costume jewelry to choose from, including bangles, neckpieces, earrings, and finger rings. Costume jewelry cannot be distinguished from genuine jewelry and appears to be gold, silver, or rose gold. It is made of materials that are easily cracked, so it does not have a long shelf life. Fashion jewelry is less expensive and more appealing, which is why costume jewelry is gaining popularity with customers.

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The India Costume Jewelry Market has grown significantly over the years and is expected to grow at a steady rate during the forecasted period. This is due to a lot of factors, including a change in lifestyle, an increase in the price of precious metal jewelry, an increase in fashion consciousness, and a change in packaging styles and attractive marketing strategies.

Moreover, the rise in interest in costume jewelry among both female and male consumers as a result of celebrity endorsement has paved the way for costume jewelry. Furthermore, rising disposable income and living standards in emerging markets such as India, as well as a growing consumer preference for fashion accessories, drive up demand for costume jewelry. However, the availability of low-quality and counterfeit products, as well as price fluctuations in the raw materials used to make these jewelries, limit market growth.

By product type, the earrings segment was the highest revenue contributor in 2019. The reason for this is that the availability of lightweight earrings in a various designs and colors that can be worn with a variety of outfits creates market growth opportunities. By gender, the female segment held the largest market share due to increase in spending power, aided by the working female population. Depending on the mode of sale, the retail sale segment led the market, because retail sales channels provide value-added services such as customer care.

Over the forecast period, market demand will be driven by fluctuating gold prices and a surge in the prices of diamonds and other precious metals. Increased awareness of new fashion trends and acceptance of new and changing lifestyles, as well as an increase in people’s per capita income, will drive business growth in the coming years. Furthermore, the market will benefit from easy access to colored stone jewelry at lower costs and with some less maintenance fees in the near future. Individuals of all socioeconomic backgrounds, including those from low-income families, spend a significant amount of money on affordable costume jewelry to imitate characters from popular TV shows.

COVID-19 disease began to spread around the world in early 2021, infecting millions of people, and major countries worldwide enacted foot prohibitions and work stoppage orders. So apart from medical supplies and life support products, most industries have been severely impacted, including the costume jewelry industry. The costume jewelry market in India has declined significantly as economic growth has slowed, but it had been growing at a relatively optimistic rate in the four years preceding COVID-19.

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Key Market Players Profiled In The Report:

○ Voylla
○ Zaveri Pearls
○ Pipa Bella
○ Sukkhi Fashion Jewelry
○ Romoch
○ Tanishq
○ Swarovski Group
○ Tribe Amrapali
○ Isharya
○ Yellow Chimes
○ Peora

Reason to Buy:

○ Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the global India Costume Jewelry market.
○ Highlights key business priorities in order to guide the companies to reform their business strategies and establish themselves in the wide geography.
○ The key findings and recommendations highlight crucial progressive industry trends in the India Costume Jewelry Market, thereby allowing players to develop effective long-term strategies in order to garner their market revenue.
○ Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
○ Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those restraining the growth to a certain extent.
○ Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation, and industry verticals.

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