Costume jewelry, a type of jewelry, is made of inexpensive materials compared to precious materials such as diamond, gold, platinum, and others such as gems and pearls. Costume jewelry is also known as fake jewelry, fashion jewelry, trinkets, imitation jewelry, and junk jewelry. It is manufactured using raw materials such as beads, metals, glass, synthetic stones, ivory, plastic, semi-precious stones, and others. Other raw materials used in manufacturing of costume jewelry are backings, pins, and fabricated metals. Pearls and semi-precious metals such as brass, silver, and aluminum, are also used in manufacturing of costume jewelry. Costume jewelry is popular particularly among women, corporate employees, and teenagers.
Fluctuating price of gold and rise in price of gold, diamond, and other precious materials are the key drivers of the costume jewelry market. Costume jewelry is cheaper than jewelry made of gold or other precious materials. Rise in fashion consciousness, adoption of western culture, and increase in disposable income of people are expected to drive the global costume jewelry market during the forecast period. Moreover, availability of trendy, colored stone jewelry and various types of costume jewelry at low price is anticipated to boost the demand for costume jewelry across the world in the next few years. Costume jewelry involves low maintenance cost and can be safely carried, which is not the case with real jewelry. These factors are expected to propel the growth of the market in the near future.
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In addition, changes in lifestyle and inclination of people toward artistic appearance are anticipated to drive the growth of the global costume jewelry market during the forecast period. However, growing security concerns, particularly at airports, and rise in concerns associated with trade laws and imports and exports are expected to hamper the growth of global costume jewelry market. In addition, rise in prices of raw materials, owing to unorganized supply chain management, is anticipated to restrain the growth of the market during the forecast period. Nevertheless, costume jewelry, owing to its low cost of manufacturing, is likely to generate significant opportunities for the market players in the next few years.
The global costume jewelry market can be classified based on product, end-user, distribution channel, and region. Based on product, the market can be segmented into earrings, pendants, necklaces, anklets, brooches, finger rings, bangles, toe rings, and others such as bracelets, cufflinks, chains, studs, etc. In terms of end-user, the costume jewelry market can be categorized into women, men, and teenagers.
Based on distribution channel, the market can be classified into e-commerce websites, suppliers, retailers, distributors, supermarkets, hypermarkets, independent stores, specialty stores, and multi-brand boutiques. Based on region, the global costume jewelry market can be categorized into North America (the U.S., Canada, and Mexico), Europe (Italy, Germany, Russia, the U.K., Sweden, Spain, and Poland), Asia Pacific (India, Japan, China, New Zealand, Australia, and Southeast Asia), Middle East & Africa, and South America.
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Major players operating in global costume jewelry market include Zara, The Colibri group, Swarovski Group, Swank Inc, PRADA, Buckley Jewellery Ltd, LVMH Mot Hennessy – Louis Vuitton, H.Stern Com & Ind.S.A., K&M Accessories, Cartier S.A, Halcyon Days, Billig Jewelers Inc., Hennes & Mauritz, Stuller Inc., Avon Products, H & M, Buckley London, Guess, Inc, Gianni Versac, and Giorgio Armani. These players are focused on improving their market position by expanding their distribution network. Manufacturers are enhancing their research and development capabilities and making efforts to improve the quality, packaging, and design of their products. They are also focusing on innovative products, such as, costume jewelry in various types, sizes, and shapes, raw materials, and attractive designs. This is likely to lead to the introduction of advanced products in the costume jewelry market during the forecast period.
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