The luxury jewellery market is expected to be growing at a CAGR of 6.00% in the forecast period of 2021 to 2028. Data Bridge Market Research analyses the factors responsible for fostering the growth of luxury jewellery market. This rise in luxury jewellery market value can be attributed to the various factors such as rise in demand for precious gemstones, increased focus on the new innovations in the jewellery industry such as lab-created diamonds, and increasing personal disposable income. Therefore, the luxury jewellery market value, USD 70000 million in 2020, will rocket up to USD 111569.4 million by 2028.
Jewellery is a form of personal orientation. Jewellery is a luxury good that bridges a gap between lower income class groups and upper income glass groups. Jewellery is made out of precious metals such as gold, diamond and so on.
Rising westernization, modernization and increasing personal disposable income are the major factors fostering the growth of luxury jewellery market. Rising inclination towards luxurious goods, growth and expansion of jewellery industry and growing emergence in fashion jewellery are some other indirect luxury jewellery market growth determinants. Increasing consumer preference for branded jewellery has further propelled the manufacturers to foster large scale availability of different varieties of luxury jewellery in the market.
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Luxury Jewellery Scope and Market Size
The luxury jewellery market is segmented on the basis of material, product, distribution channel and application. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
- On the basis of material, the luxury jewellery market is segmented into gold, platinum, diamond and others.
- On the basis of product, the luxury jewellery market is segmented into necklace, ring, bracelet, earing and others.
Luxury Jewellery Market Country Level Analysis
The countries covered in the luxury jewellery market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific dominates the luxury jewellery market and will continue to extend its dominance during the forecast period. The region is also set to score the highest compound annual growth rate (CAGR) for the forecast period. Rising personal disposable income, rapid globalization, westernization, modernization and ever-rising population are some major market growth determinants for this region. Rising availability of premium jewellery will also foster the growth of market in this region. Rising inclination towards luxury goods owing to increased purchasing power parity will also create lucrative and remunerative market growth opportunities.
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Competitive Landscape and Luxury Jewellery Market Share Analysis
The major players covered in the luxury jewellery market report are:
Chopard International SA, Harry Winston, Inc., CARTIER, Guccio Gucci S.p.A., T&CO., Buccellati Holding SPA, Bulgari S.p.A., Piaget, VAN CLEEF & ARPELS, MIKIMOTO, Compagnie Financière Richemont SA, GRAFF, Pandora Jewelry, LLC., Chow Tai Fook Jewellery Company Limited., Rajesh Exports Ltd., Signet Jewelers., CHANEL, LVMH Moët Hennessy – Louis Vuitton, STORNOWAY DIAMOND and MOUNTAIN DIAMONDS among other domestic and global players.
Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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