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Gems and Jewelry Market, by Product Type (Gold Jewelry, Diamond Jewelry, Platinum Jewelry, and Others), and by Distribution Channel (Specialty Stores, Online Stores, and Others) - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018-2025
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Gems and Jewelry Market GLOBAL INDUSTRY INSIGHTS, TRENDS, OUTLOOK, AND OPPORTUNITY ANALYSIS, 20182025 © Coherent market Insights. All Rights Reserved
REPORT DESCRIPTION Gems and Jewelry Market:Overview Gems and jewelry consists of various jewelries that are made out of gold, platinum, gemstones, and others. Gems and jewelry is one of the fastest growing markets, as it holds customary values in several cultures across the globe. Several leading companies are aiming on investing in the marketing, advertising, and launching of new showrooms for increasing publicity and expanding their presence in the market. For instance, in 2017, Kalyan Jewelers planned to invest US$ 75 million to add 15 new showrooms to their ongoing expansion in Eastern and Northern regions of India. The major drivers of this market include growing demand for crafted premium jewelry and precious gems. According to World Gold Council, the demand for gold jewelry has increased by around 3% in the final quarter of 2017 from its third quarter. Furthermore, changing consumer preferences towards light weight handcrafted jewelry is boosting growth of the market. For instance, The World Gold Council, in 2018, accounted that Chow Tai Fook Enterprises Ltd., a major retailer in China sold 300,000 pieces of 22 carat gold internationally. However, increasing competition from local players and rising labor cost are factors restraining growth of the market. For instance, according to Coherent Market Insights, branded jewelry covers only around 20% of the global market, which will grow and cover over 30% of market share over the forecast period. © Coherent market Insights. All Rights Reserved
REPORT DESCRIPTION Gems and Jewelry Market:Outlook ➢ Asia Pacific dominated the global gems and jewelry market in 2016 with India and China leading the market growth. According to the Gem and Jewelry Export Promotion Council, India’s exports of 75% of the world’s polished diamonds rose from US$ 11.16 billion in 200405 to US$ 22.78 billion in 201617. According to IBEF (India Brand Equity Foundation) 2018, gems and jewelry sector plays a significant role in the Indian economy contributing up to 7 percent of the country’s GDP and 15.7 percent to India’s total exports. ➢ North America witnessed significant growth in the gems and jewelry market with U.S. dominating the market in the region. The growth is attributed by the higher income levels in the U.S., which translates into higher demand for personal consumption of items such as diamond jewelry. The U.S also has one of the highest gold allocations as a percentage of its foreign reserves. ➢ Middle East witnessed significant growth in the gems and jewelry market with GCC countries fueling the market growth in this region. According to National Bank of Fujairah, UAE’s diamond financing industry has grown by around 200% from US$ 500 million in 2010 to US$ 1.5 billion in 2017. Request a sample copy of this report: https://www.coherentmarketinsights.com/insight/requestsample/1392 © Coherent market Insights. All Rights Reserved
REPORT DESCRIPTION Gems and Jewelry Market:Segmentation By Product Type Gold Jewelry Diamond Jewelry Platinum Jewelry Others By Distribution Channel ➢ ➢ ➢ ➢ Specialty Stores Online Stores Others ➢ ➢ ➢ To know the latest trends and insights prevalent in this market, click the link below: https://www.coherentmarketinsights.com/ongoinginsight/gemsandjewelrymarket1392 © Coherent market Insights. All Rights Reserved
REPORT DESCRIPTION Gems and Jewelry Market:Key Players ➢ Chow Tai Fook (Holdings) Limited ➢ Compagnie Financière Richemont ➢ Jewelry Group ➢ Signet Jewelers ➢ Emperor Watch & Jewelery Ltd. ➢ Blue Nile ➢ Zale Titan ➢ Gitanjali Group ➢ Tiffany & Company ➢ others. © Coherent market Insights. All Rights Reserved
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