USD 19.88 Bn growth in Online Jewelry Market | High Growth Opportunity in Fine Jewelry Segment

NEW YORK, Feb. 4, 2022 /PRNewswire/ — The global online jewelry market will witness substantial growth in the coming years. Improving living standards of the middle-class population, especially in developing countries such as China and India has been increasing consumer spending on jewelry. The demand for imported jewelry in these countries is also increasing with the growth of the e-commerce sector and the increasing adoption of smartphones and the internet. Besides, the continuously evolving demand for both fine and fashionable jewelry among millennial women is creating significant growth opportunities for market players.

Attractive Opportunities in Online Jewelry Market by Product and Geography – Forecast and Analysis 2020-2024

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Technavio estimates the global online jewelry market size to increase by USD 19.88 billion between 2019 and 2024. The market registered year-over-year growth of 14.59% in 2020 and is anticipated to accelerate at a CAGR of over 15% during the forecast period.

The market is driven by innovations in jewelry design and technology. Evolving tastes of consumers and the availability of various collections of jewelry online has fueled the demand for newer designs in the jewelry market. Innovative jewelry designs are priced higher and many consumers are willing to pay premium prices for such products. Hence, to capitalize on growing consumer demands, vendors are emphasizing on widening their range of jewelry collections with innovative designs. Subsequently, the integration of technology such as 3D printing in the manufacture of jewelry has increased among vendors. This is enabling them to innovate in terms of design, check the purity of precious metals and stones, and differentiate their products. All these factors are expected to drive the growth of the global online jewelry market during the forecast period.

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Online Jewelry Market: Segmentation Analysis

By product, the online jewelry market is segmented by fine jewelry and fashion jewelry. The fine jewelry segment is generating maximum revenue in the market. The increasing demand for fine jewelry among consumers for special occasions such as Mother’s Day and Valentine’s Day is driving the growth of the segment. The market growth in the segment will be significant during the forecast period.

Online Jewelry Market: Geographic Landscape

42% of the market’s growth will originate from North America during the forecast period. The US is the key market for online jewelry in North America. Changing lifestyles and evolving consumer preferences are increasing the demand for fashion jewelry in the region. In addition, innovation through product line extension and the trend of gifting jewelry items for seasonal occasions are driving the growth of the online jewelry market in North America.

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Companies Covered:

  • CHANEL Ltd.

  • Chopard Group

  • Chow Tai Fook Jewellery Co. Ltd.

  • Compagnie Financière Richemont SA

  • Graff Diamonds Ltd.

  • Kering SA

  • LVMH Moët Hennessy – Louis Vuitton

  • Signet Jewelers Ltd.

  • The Swatch Group Ltd.

  • Titan Co. Ltd.

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Related Reports:

Gems and Jewelry Market by Distribution Channel and Geography – Forecast and Analysis 2021-2025

3D Printed Jewelry Market by Technology and Geography – Forecast and Analysis 2021-2025

Online Jewelry Market Scope

Report Coverage

Details

Page number

120

Base year

2019

Forecast period

2020-2024

Growth momentum & CAGR

Accelerate at a CAGR of over 15%

Market growth 2020-2024

USD 19.88 billion

Market structure

Fragmented

YoY growth (%)

14.59

Regional analysis

North America, Europe, APAC, MEA, and South America

Performing market contribution

North America at 42%

Key consumer countries

US, China, UK, India, and Italy

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

CHANEL Ltd., Chopard Group, Chow Tai Fook Jewellery Co. Ltd., Compagnie Financière Richemont SA, Graff Diamonds Ltd., Kering SA, LVMH Moët Hennessy – Louis Vuitton, Signet Jewelers Ltd., The Swatch Group Ltd., and Titan Co. Ltd.

Market Dynamics

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

About Us
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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Website: www.technavio.com/

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Technavio (PRNewsfoto/Technavio)

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SOURCE Technavio

https://finance.yahoo.com/news/usd-19-88-bn-growth-114500945.html

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