The global bead products market is on the course to witness a considerable growth during the forecast period. The demand for bead products, particularly in the past decade has increased at a rapid pace and the trend is likely to continue over the assessment period, owing to the widening application of bead products. In the current scenario, bead products are extensively used in different products, including home décor, jewelry, pet items, models, and accessories. Bead products continue to gain attention from craftsmen and jewelers across the world, owing to the entry of an array of innovative bead designs made from different materials.
In addition, the advent of the do it yourself (DIY) trend that is largely gained popularity, due to social media platforms, including Pinterest, Instagram, and Facebook is another factor that is expected to boost the adoption of bead products in the upcoming years. In the current scenario, manufacturers operating in the current bead products market landscape continue to focus on improving the physical aspects of their products, such as color, shape, size, etc.
In addition, bead manufacturers are also focusing on the production of beads using different materials to attract a larger consumer base. Advancements in bead production techniques, along with growing emphasis on innovation are some of the major factors that are likely to define the course of the global bead products market in the upcoming decade.
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Home Décor and Fashion Industry Offer Attractive Opportunities for Bead Producers
The demand for various types of beads from home décor and fashion industry has witnessed an impressive growth in the past few years and the trend is likely to continue during the forecast period. Beads that were traditionally used in various cultures across the world are gradually gaining immense popularity among jewelers, fashion designers, interior designers, etc. The modern fashion industry is expected to provide abundant opportunities for participants involved in the current bead products market due to the advent of an array of innovative bean forms. Bead woven fashion trends have evolved over the past couple of decades and at present, the adoption of bead products across the fashion industry is on the rise.
While the demand from the fashion industry is projected to aid the growth of the global bead products market, the ascending interest in bead products from the home décor sphere is likely to create lucrative opportunities for bead manufacturers. At present, bead products are increasingly being used in a majority of home décor projects mainly in the Asia Pacific and Middle East & Africa. The growing popularity of social media marketing coupled with growing consumer affinity toward bead products are some of the leading factors that are likely to provide an impetus to the expansion of the bead products market.
Demand for Beads Made from Natural Materials on Rise; Lead-free Crystal Beads Gain Traction
In the current scenario, the consumer demand for beads made from natural materials, including horn, shells, seeds, stone, and wood is witnessing a fast-paced growth. Natural bead products are gaining considerable traction around the world, particularly from individuals that are allergic to metals and are largely inclined toward using products that can be recycled or reused. In addition, as natural bead products are cost-effective and eco-friendly, the market share of natural bead products is gradually increasing each year. At present, crystal producers are swaying toward the production of zero-lead and low-lead bead products, and the trend is set to continue over the forecast period. Lead-free crystal beads are expected to gain considerable momentum over the next few years.
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Demand Likely to Take Hit amid COVID-19 Pandemic
As per the analysts at the Transparency Market Research, the COVID-19 pandemic is likely to have a moderate impact on the global bead products market. The demand is projected to take a major hit amid the ongoing health crisis due to the preventive measures taken by the governments around the world to combat the COVID-19 pandemic. The lockdown in different regions of the world is likely to affect the demand for bead products due to which, the market is expected to witness sluggish growth. Although the demand is anticipated to grow in the second half of 2024, as home décor projects are likely to resume gradually. Thus, the bead products market growth is expected to experience moderate slump over the next few months.
