Global Luxury Jewelry Market Expected to Hit $40.19

Portland, OR, Aug. 05, 2022 (GLOBE NEWSWIRE) — According to the report released by Allied Market Research, the luxury jewelry market generated $21.75 billion in 2021 and is projected to reach $40.19 billion by 2031, growing at a CAGR of 6.4% from 2022 to 2031. changing market trends, market size and estimates, value chain, key investment pockets, drivers and opportunities, competitive landscape and regional landscape. The report is a useful source of information for new entrants, shareholders, early adopters and stockholders in introducing necessary strategies for the future and taking essential actions to significantly strengthen and increase their position in the market.

Report coverage and details:

Report cover Details
Forecast period 2022–2031
Year of reference 2021
Market size in 2021 $21.75 billion
Market size in 2031 $40.19 billion
CAGR 6.4%
Number of pages in the report 315
Segments Covered Product type, application, distribution channel and region.
Drivers Increase in standard of living
Online retail platform growth
Opportunities Increase in number of online shoppers
Improved logistics services
holds back Exorbitant cost of luxury jewelry
Limited to specific consumers

Get Detailed Analysis of Impact of COVID-19 on Luxury Jewelry Market @https://www.alliedmarketresearch.com/request-for-customization/17296?reqfor=covid

COVID-19 scenario:

  • The COVID-19 outbreak has negatively impacted the growth of the global luxury jewelry market, due to the occurrence of lockdowns in various countries around the world. The lockdowns led to the closure of various manufacturing plants, including those of luxury jewelry, which negatively impacted its demand during the pandemic. This was mainly due to the strict restrictions imposed by the government to curb the spread of the virus during the pandemic.
  • Massive disruption has been created among buyers and sellers as market and production units have been completely shut down globally which has halted the production, sale and marketing of the product. Thus, various companies were building supply chain relationships and business models needed for the future.
  • The pandemic has had a devastating effect on jewelry sales through physical stores, which has further reduced demand. Additionally, there has been a shortage of raw materials during the pandemic due to import and export restrictions imposed by the government to drastically limit the spread of the virus. However, the market should recover quickly.

The report offers detailed segmentation of the global luxury jewelry market on the basis of product type, application, distribution channel, and region. The report provides a comprehensive analysis of each segment and their respective sub-segment using graphical and tabular representation. This analysis can essentially help market players, investors and new entrants to determine and design strategies based on the fastest growing and highest revenue generating segments mentioned in the report.

Based on product type, the collar segment held the largest market share in 2021, holding more than a quarter of the global market, and is expected to maintain its leading status during the forecast period. The earrings segment, on the other hand, is expected to quote the fastest CAGR of 6.7% during the forecast period. The report also offers analysis of segments such as rings, bracelets and others.

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Based on the applications, the women’s segment held the dominant market share in 2021, holding more than three-fifths of the global market, and is expected to maintain its leading status during the forecast period. The children’s segment, on the other hand, is expected to quote the fastest CAGR of 7.6% during the forecast period. The report also offers an analysis of the male segment.

Based on the distribution channel, the offline segment held the largest market share in 2021, garnering more than two-thirds of the global market, and is expected to maintain its leading status during the forecast period. The online segment, on the other hand, is expected to quote the fastest CAGR of 6.9% during the forecast period.

According to the region, the Asia-Pacific market held the lion’s share in 2021, holding more than a third of the global market, and is expected to maintain its leading status during the forecast period. The North America region, on the other hand, is expected to quote the fastest CAGR of 6.7% during the forecast period. The report also offers analysis of other countries like LAMEA and Europe.

Key players analyzed in the Global Luxury Jewelry Market report are Avon Products Inc., Chopard International SA, Giorgio Armani SpA, GRAFF, Guccio Gucci SpA, LVMH, MIKIMOTO, Pandora Jewelry, LLC, Prada SpA, Signet Jewelers Limited , Sukkhi Fashion Jewelry, Swarovski Group, Tanishq, Tribe Amrapali and Youbella.

The report analyzes these key players in the global luxury jewelry market. These market players have effectively used strategies such as joint ventures, collaborations, expansion, new product launches, partnerships, and others to maximize their foothold and prowess in the industry. The report is useful for analyzing recent developments, product portfolio, business performance, and operating segments of major market players.

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About Us

Allied Market Research (AMR) is a full-service market research and business consulting division of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global corporations as well as small and medium enterprises with unrivaled quality of “market research reports” and “Business Intelligence solutions”. AMR has a focused vision to provide business insights and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market area.

We maintain professional relationships with various companies which helps us to extract market data which helps us to generate accurate research data tables and confirm the utmost accuracy of our market predictions. Allied Market Research CEO Pawan Kumar helps inspire and encourage everyone associated with the company to maintain high quality data and help clients in every way possible to achieve success. All data presented in the reports we publish are drawn from primary interviews with senior managers of large companies in the relevant field. Our secondary data sourcing methodology includes extensive online and offline research and discussions with knowledgeable industry professionals and analysts.


        

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