Gems & Jewelry Market to Cross $ 443 Billion by 2022
Rising per capita income
levels, increasing consumer spending on lifestyle products, growing global
population coupled with increasing youth working population to boost growth in
global gems & jewelry market through 2022
According to
TechSci Research report, “Global
Gems & Jewelry Market, By Type, By Region, Competition Forecast &
Opportunities, 2012-2022”, global gems & jewelry market to cross
$ 443 billion by 2022, owing to rapid westernization of consumer lifestyles and
aggressive marketing and promotional strategies by global jewelry brands. Changing
lifestyle preferences has
led to increasing brand consciousness among consumers and emergence of elegant
and exclusively designed jewelry, globally.
According to World
Bank, in 2012, global urban population share (as a percentage of total
population) was 52.46% and this reached 53.86% by 2015. Moreover, according to International
Telecommunication Union (ITU), number of international tourist arrivals as of
2012 was 1,035 million and this rose to 1,186 million by 2015, exhibiting a
CAGR of 4.82% through 2015. According to World Bank, population in the age
group 15-64 years accounted for a share of 65.62% in the total global
population in 2015 and this is further expected to rise during the forecast
period. Rising disposable income, changing lifestyle patterns coupled with
increasing tourism and growing urban population is anticipated to boost demand
for gems & jewelry across the globe during the forecast period.
Browse 12 market data
Tables and 144 Figures spread through 215 Pages and an in-depth TOC on "Global Gems &
Jewelry Market"
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Increasing
personal disposable income, rising standard of living and expanding middle
class household base is propelling demand for gems & jewelry in developed
and developing countries. Aggressive
marketing and promotional strategies by jewelry companies is boosting sales in developed
regions such as US, Europe, etc., due to higher disposable income of consumers.
Additionally, demand for gems & jewelry from consumers across developing
countries such as China, India, South Korea, etc., is rising at a robust pace. Due
to high demand from emerging economies such as India and China, Asia-Pacific has emerged as a fastest
demand generator for gems &
jewelry across the globe. Moreover,
continuous launch of innovative
and imported products, and growing awareness among end users about branded jewelry is anticipated to augur well for global gems &
jewelry market. LVMH, Richmont, Kering and Swatch are few of the leading players in global
gems and jewelry market in
2016.
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“Demand for processed gems and jewelry
designed by branded players has served as an impetus for development of global gems
& jewelry industry in the recent years. Rising youth population base coupled
with changing consumer preferences towards branded and designer jewelry has
fueled growth in global gems & jewelry market over the last five years. Leading
market players are offering contemporary jewelry
designs keeping in mind consumer preferences and latest fashion trends. Some
companies are also offering customized jewelry as consumer choice. All these
factors are anticipated to bolster growth in global gems & jewelry market
in the coming years.”, said Mr. Karan Chechi, Research Director with TechSci
Research, a research based global management consulting firm.
“Global Gems
& Jewelry Market, By Type, By Region, Competition Forecast &
Opportunities, 2012-2022” has
evaluated the future growth potential of global gems & jewelry market and
provides statistics and information on market structure, size, share and future
growth. The report is intended to provide cutting-edge market intelligence and
help decision makers to take sound investment evaluation. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities present in global gems & jewelry market.
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