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Costume Jewelry Market size in India to grow by USD 639.32 million from 2022 to 2027, Driven by the affordable pricing – Technavio

NEW YORK, April 17, 2023 /PRNewswire/ — The costume jewelry market size in India is estimated to grow by USD 639.32 million from 2022 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 8.64% during the forecast period. For more insights on the historic period (2017 to 2021) and forecast market size (2023 to 2027) – Request a sample report.

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Costume Jewelry Market – Segmentation Assessment
Segment Overview
Technavio has segmented the market based on distribution channel (offline and online) and product type (necklaces and chains, earrings, rings, bracelets, and others).

  • The market share growth in India by the offline segment will be significant for the market growth during the forecast period. The different types of offline channels include hypermarkets, supermarkets, and speciality retail stores that enable consumers to choose from a diverse range of products. Additionally, some e-commerce platforms are trying to expand their presence by partnering with regional retailers or distributors and expanding their own retail stores. For instance, in April 2021, Nykaa E-Retail Pvt. Ltd. acquired Pipa Bella to expand its reach in the growing jewelry sector in India. Hence, such M&A efforts are expected to propel the growth of the segment, thereby driving the market growth for costume jewelry market in India during the forecast period.

Insights on the market contribution of various segments including country and region wise, historic (2017 to 2021) and forecast market size (2023 to 2027) – Download a Sample Report

Costume Jewelry Market – Market Dynamics
Key factor driving market growth

  • A major driver for the market growth of costume jewelry in India is the affordable pricing of costume jewelry.
  • The prices of gold and silver are subjected to fluctuations from time to time. For instance, on an average, the price of necklaces and rings is around USD 15-USD 25 and USD 5-USD 10, respectively, and hence, the high cost of procurement associated with jewelry manufactured using gold, silver, and precious gems is expected to increase the adoption of costume jewelry.
  • Furthermore, new designs, colors, and innovations in costume jewelry drive the growth of the costume jewelry market in India because this lets consumers to try costume jewelry products. 
  • There is an increased adoption of costume jewelry as a fashion accessory in the country and a rapid change in consumer lifestyle, which influences people to buy more costume jewelry instead of expensive jewels, which in turn drive the market growth during the forecast period.

Leading trends influencing the market 

  • An emerging trend in the costume jewelry market in India that is expected to drive demand for the market is the growing demand from millennial population.
  • Individuals in the age group of 18-34 years are categorized as millennials. They form a major consumer segment of the costume jewelry market in the country.
  • Millennials are aware of the authenticity and quality of different types of costume jewelry including necklaces, rings, and bracelets.
  • Additionally, the prevalence of social media and their changing lifestyle influences their interest in costume jewelry. This forces manufacturers of costume jewelry to launch new products with innovative designs.
  • Hence, such new product launches are expected to grow the costume jewelry market in India during the forecast period.

Major challenges hindering the market growth

  • A primary challenge impeding the market growth of costume jewelry in India is the lack of durability.
  • Costume jewelry requires proper maintenance and careful handling as it breaks easily, loses the shine, and cannot be repaired or reconstructed. So, many vendors in Indian market do not offer any warranty for products in case of any issues. 
  • In contrast, fine-quality gold, gems, and platinum products have a long shelf life compared with costume jewelry and are under warranty for a certain time period.
  • Vendors in the unorganized sector offer affordable costume jewelry but their quality is not good. Moreover, the manufacturers of costume jewelry sometimes use unsafe chemicals, such as lead, chromium, and nickel, which cause various allergic reactions on the skin and are therefore considered harmful to health.
  • Various consumers prefer premium costume jewelry products from a specific designer or a brand instead of fashionable cost-effective costume jewelry. 
  • Therefore, an increasing preference for premium costume jewelry products is hindering the Indian costume jewelry market growth.

Insights on Market Drivers, Trends, & Challenges during the Historic period(2017 to 2021) and Forecast period(2023 to 2027) – Request a sample report!

What are the key data covered in this Costume Jewelry Market in India report?

  • CAGR of the market during the forecast period
  • Detailed information on factors that will drive the growth of the costume jewelry market in India between 2023 and 2027
  • Precise estimation of the size of the costume jewelry market in India and its contribution to the market with a focus on the parent market
  • Accurate predictions about upcoming trends and changes in consumer behavior
  • Growth of the costume jewelry market across India
  • A thorough analysis of the market’s competitive landscape and detailed information about vendors
  • Comprehensive analysis of factors that will challenge the growth of the costume jewelry market in India vendors

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Costume Jewelry Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 8.64%

Market growth 2023-2027

USD 639.32 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

7.38

Regional analysis

India

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

Anuradha Art Jewellery, Avon Products Inc., GBL Altair Pvt. Ltd., GlobalBees Brands Pvt. Ltd., Indian Imitation Jewellery, IndieJewel Fashions Pvt. Ltd., Isharya, Kushals Fashion Jewellery, Manek Ratna, Mangalmani Jewellers, Nykaa Fashion Pvt. Ltd., Padmavati Jewellery, Romoch, Rubans Accessories, Sia Jewels Pvt. Ltd., Sukkhi Online Pvt. Ltd., TBA Jewels Pvt. Ltd., Violet and Purple Designer Fashion Jewellery Pvt. Ltd., YouBella Jewellery and Lifestyle, and Zariin

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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Table Of Contents : 

1 Executive Summary

  • 1.1 Market overview 
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Country Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market Segmentation by Product
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Distribution Channel
    • Exhibit 06: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem 
    • Exhibit 07: Parent market
    • Exhibit 08: Market Characteristics

3 Market Sizing

  • 3.1 Market definition 
    • Exhibit 09: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis 
    • Exhibit 10: Market segments
  • 3.4 Market outlook: Forecast for 2022-2027
    • Exhibit 11: Chart on India – Market size and forecast 2022-2027 ($ million)
    • Exhibit 12: Data Table on India – Market size and forecast 2022-2027 ($ million)
    • Exhibit 13: Chart on India: Year-over-year growth 2022-2027 (%)
    • Exhibit 14: Data Table on India: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

  • 4.1 Costume Jewelry Market in India 2017 – 2021
    • Exhibit 15: Historic Market Size – Data Table on Costume Jewelry Market in India 2017 – 2021 ($ million)
  • 4.2 Product Segment Analysis 2017 – 2021
    • Exhibit 16: Historic Market Size – Product Segment 2017 – 2021 ($ million)
  • 4.3 Distribution Channel Segment Analysis 2017 – 2021
    • Exhibit 17: Historic Market Size – Distribution Channel Segment 2017 – 2021 ($ million)

5 Five Forces Analysis

  • 5.1 Five forces summary 
    • Exhibit 18: Five forces analysis – Comparison between 2022 and 2027
  • 5.2 Bargaining power of buyers 
    • Exhibit 19: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
  • 5.3 Bargaining power of suppliers 
    • Exhibit 20: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
  • 5.4 Threat of new entrants 
    • Exhibit 21: Threat of new entrants – Impact of key factors in 2022 and 2027
  • 5.5 Threat of substitutes 
    • Exhibit 22: Threat of substitutes – Impact of key factors in 2022 and 2027
  • 5.6 Threat of rivalry 
    • Exhibit 23: Threat of rivalry – Impact of key factors in 2022 and 2027
  • 5.7 Market condition 
    • Exhibit 24: Chart on Market condition – Five forces 2022 and 2027

6 Market Segmentation by Product

  • 6.1 Market segments 
    • Exhibit 25: Chart on Product – Market share 2022-2027 (%)
    • Exhibit 26: Data Table on Product – Market share 2022-2027 (%)
  • 6.2 Comparison by Product 
    • Exhibit 27: Chart on Comparison by Product
    • Exhibit 28: Data Table on Comparison by Product
  • 6.3 Necklaces and chains – Market size and forecast 2022-2027 
    • Exhibit 29: Chart on Necklaces and chains – Market size and forecast 2022-2027 ($ million)
    • Exhibit 30: Data Table on Necklaces and chains – Market size and forecast 2022-2027 ($ million)
    • Exhibit 31: Chart on Necklaces and chains – Year-over-year growth 2022-2027 (%)
    • Exhibit 32: Data Table on Necklaces and chains – Year-over-year growth 2022-2027 (%)
  • 6.4 Earrings – Market size and forecast 2022-2027
    • Exhibit 33: Chart on Earrings – Market size and forecast 2022-2027 ($ million)
    • Exhibit 34: Data Table on Earrings – Market size and forecast 2022-2027 ($ million)
    • Exhibit 35: Chart on Earrings – Year-over-year growth 2022-2027 (%)
    • Exhibit 36: Data Table on Earrings – Year-over-year growth 2022-2027 (%)
  • 6.5 Rings – Market size and forecast 2022-2027
    • Exhibit 37: Chart on Rings – Market size and forecast 2022-2027 ($ million)
    • Exhibit 38: Data Table on Rings – Market size and forecast 2022-2027 ($ million)
    • Exhibit 39: Chart on Rings – Year-over-year growth 2022-2027 (%)
    • Exhibit 40: Data Table on Rings – Year-over-year growth 2022-2027 (%)
  • 6.6 Bracelets – Market size and forecast 2022-2027
    • Exhibit 41: Chart on Bracelets – Market size and forecast 2022-2027 ($ million)
    • Exhibit 42: Data Table on Bracelets – Market size and forecast 2022-2027 ($ million)
    • Exhibit 43: Chart on Bracelets – Year-over-year growth 2022-2027 (%)
    • Exhibit 44: Data Table on Bracelets – Year-over-year growth 2022-2027 (%)
  • 6.7 Others – Market size and forecast 2022-2027
    • Exhibit 45: Chart on Others – Market size and forecast 2022-2027 ($ million)
    • Exhibit 46: Data Table on Others – Market size and forecast 2022-2027 ($ million)
    • Exhibit 47: Chart on Others – Year-over-year growth 2022-2027 (%)
    • Exhibit 48: Data Table on Others – Year-over-year growth 2022-2027 (%)
  • 6.8 Market opportunity by Product 
    • Exhibit 49: Market opportunity by Product ($ million)
    • Exhibit 50: Data Table on Market opportunity by Product ($ million)

7 Market Segmentation by Distribution Channel

  • 7.1 Market segments 
    • Exhibit 51: Chart on Distribution Channel – Market share 2022-2027 (%)
    • Exhibit 52: Data Table on Distribution Channel – Market share 2022-2027 (%)
  • 7.2 Comparison by Distribution Channel 
    • Exhibit 53: Chart on Comparison by Distribution Channel
    • Exhibit 54: Data Table on Comparison by Distribution Channel
  • 7.3 Offline – Market size and forecast 2022-2027
    • Exhibit 55: Chart on Offline – Market size and forecast 2022-2027 ($ million)
    • Exhibit 56: Data Table on Offline – Market size and forecast 2022-2027 ($ million)
    • Exhibit 57: Chart on Offline – Year-over-year growth 2022-2027 (%)
    • Exhibit 58: Data Table on Offline – Year-over-year growth 2022-2027 (%)
  • 7.4 Online – Market size and forecast 2022-2027
    • Exhibit 59: Chart on Online – Market size and forecast 2022-2027 ($ million)
    • Exhibit 60: Data Table on Online – Market size and forecast 2022-2027 ($ million)
    • Exhibit 61: Chart on Online – Year-over-year growth 2022-2027 (%)
    • Exhibit 62: Data Table on Online – Year-over-year growth 2022-2027 (%)
  • 7.5 Market opportunity by Distribution Channel
    • Exhibit 63: Market opportunity by Distribution Channel ($ million)
    • Exhibit 64: Data Table on Market opportunity by Distribution Channel ($ million)

8 Customer Landscape

  • 8.1 Customer landscape overview 
    • Exhibit 65: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Drivers, Challenges, and Trends

  • 9.3 Impact of drivers and challenges 
    • Exhibit 66: Impact of drivers and challenges in 2022 and 2027

10 Vendor Landscape

  • 10.2 Vendor landscape 
    • Exhibit 67: Overview on Criticality of inputs and Factors of differentiation
  • 10.3 Landscape disruption 
    • Exhibit 68: Overview on factors of disruption
  • 10.4 Industry risks 
    • Exhibit 69: Impact of key risks on business

11 Vendor Analysis

  • 11.1 Vendors covered 
    • Exhibit 70: Vendors covered
  • 11.2 Market positioning of vendors 
    • Exhibit 71: Matrix on vendor position and classification
  • 11.3 Anuradha Art Jewellery 
    • Exhibit 72: Anuradha Art Jewellery – Overview
    • Exhibit 73: Anuradha Art Jewellery – Product / Service
    • Exhibit 74: Anuradha Art Jewellery – Key offerings
  • 11.4 Avon Products Inc. 
    • Exhibit 75: Avon Products Inc. – Overview
    • Exhibit 76: Avon Products Inc. – Product / Service
    • Exhibit 77: Avon Products Inc. – Key offerings
  • 11.5 GBL Altair Pvt. Ltd. 
    • Exhibit 78: GBL Altair Pvt. Ltd. – Overview
    • Exhibit 79: GBL Altair Pvt. Ltd. – Product / Service
    • Exhibit 80: GBL Altair Pvt. Ltd. – Key offerings
  • 11.6 GlobalBees Brands Pvt. Ltd. 
    • Exhibit 81: GlobalBees Brands Pvt. Ltd. – Overview
    • Exhibit 82: GlobalBees Brands Pvt. Ltd. – Product / Service
    • Exhibit 83: GlobalBees Brands Pvt. Ltd. – Key offerings
  • 11.7 IndieJewel Fashions Pvt. Ltd. 
    • Exhibit 84: IndieJewel Fashions Pvt. Ltd. – Overview
    • Exhibit 85: IndieJewel Fashions Pvt. Ltd. – Product / Service
    • Exhibit 86: IndieJewel Fashions Pvt. Ltd. – Key offerings
  • 11.8 Isharya 
    • Exhibit 87: Isharya – Overview
    • Exhibit 88: Isharya – Product / Service
    • Exhibit 89: Isharya – Key offerings
  • 11.9 Kushals Fashion Jewellery 
    • Exhibit 90: Kushals Fashion Jewellery – Overview
    • Exhibit 91: Kushals Fashion Jewellery – Product / Service
    • Exhibit 92: Kushals Fashion Jewellery – Key offerings
  • 11.10 Manek Ratna 
    • Exhibit 93: Manek Ratna – Overview
    • Exhibit 94: Manek Ratna – Product / Service
    • Exhibit 95: Manek Ratna – Key offerings
  • 11.11 Nykaa Fashion Pvt. Ltd. 
    • Exhibit 96: Nykaa Fashion Pvt. Ltd. – Overview
    • Exhibit 97: Nykaa Fashion Pvt. Ltd. – Product / Service
    • Exhibit 98: Nykaa Fashion Pvt. Ltd. – Key offerings
  • 11.12 Romoch 
    • Exhibit 99: Romoch – Overview
    • Exhibit 100: Romoch – Product / Service
    • Exhibit 101: Romoch – Key offerings
  • 11.13 Rubans Accessories 
    • Exhibit 102: Rubans Accessories – Overview
    • Exhibit 103: Rubans Accessories – Product / Service
    • Exhibit 104: Rubans Accessories – Key offerings
  • 11.14 Sia Jewels Pvt. Ltd. 
    • Exhibit 105: Sia Jewels Pvt. Ltd. – Overview
    • Exhibit 106: Sia Jewels Pvt. Ltd. – Product / Service
    • Exhibit 107: Sia Jewels Pvt. Ltd. – Key offerings
  • 11.15 Sukkhi Online Pvt. Ltd. 
    • Exhibit 108: Sukkhi Online Pvt. Ltd. – Overview
    • Exhibit 109: Sukkhi Online Pvt. Ltd. – Product / Service
    • Exhibit 110: Sukkhi Online Pvt. Ltd. – Key offerings
  • 11.16 TBA Jewels Pvt. Ltd. 
    • Exhibit 111: TBA Jewels Pvt. Ltd. – Overview
    • Exhibit 112: TBA Jewels Pvt. Ltd. – Product / Service
    • Exhibit 113: TBA Jewels Pvt. Ltd. – Key offerings
  • 11.17 YouBella Jewellery and Lifestyle 
    • Exhibit 114: YouBella Jewellery and Lifestyle – Overview
    • Exhibit 115: YouBella Jewellery and Lifestyle – Product / Service
    • Exhibit 116: YouBella Jewellery and Lifestyle – Key offerings

12 Appendix

  • 12.1 Scope of the report 
  • 12.2 Inclusions and exclusions checklist
    • Exhibit 117: Inclusions checklist
    • Exhibit 118: Exclusions checklist
  • 12.3 Currency conversion rates for US$ 
    • Exhibit 119: Currency conversion rates for US$
  • 12.4 Research methodology 
    • Exhibit 120: Research methodology
    • Exhibit 121: Validation techniques employed for market sizing
    • Exhibit 122: Information sources
  • 12.5 List of abbreviations 
    • Exhibit 123: List of abbreviations

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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Originally published at https://www.prnewswire.com/news-releases/costume-jewelry-market-size-in-india-to-grow-by-usd-639-32-million-from-2022-to-2027–driven-by-the-affordable-pricing—technavio-301798238.html
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