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| U.S. Costume Jewelry Market |
The U.S. costume jewelry market
involves accessories, ornaments or jewelry imitating fine jewelry made with
precious metals and gemstones. Costume jewelry comprises fashion jewelry made
of non-precious materials like glass, plastics, silver-plated metals, pearls or
base metal alloys. It is a much more affordable alternative to precious
jewelry. The market is driven by rising fashion consciousness among consumers along
with increasing spending on personal accessories. Costume jewelry allows
consumers to experiment with different styles and designs at pocket-friendly
prices.
The U.S. costume jewelry market is estimated to be valued at US$ 20.89 Mn in 2024 and is expected to
exhibit a CAGR of 5.9% over the
forecast period 2024 to 2031.
Key TakeawaysKey players operating in the U.S. costume jewelry are Coty UK, Procter &
Gamble Prestige Beaute, L'Oreal, LVMH, Givaudan, International Flavors &
Fragrances, Estee Lauder Beautiful, and KilianFirmenichSymrise. These players
are focusing on new product launches catering to the changing fashion trends.
The key opportunities in the market include expanding existing product lines,
entering U.S.
Costume Jewelry Market Demand and adopting celebrity endorsements and
influencer marketing strategies to increase brand visibility. There is high
growth potential in tier 2 and 3 cities driven by growing fashion awareness.
Globally, companies are focusing on market expansion opportunities in emerging
markets through strategic partnerships and acquisitions. Rising international
tourism is also driving the sale of costume jewelry as travel retail products.
Market Drivers
Changing fashion trends and rising fashion consciousness among millennials and
Gen Z are driving the purchase of affordable yet trendy costume jewelry pieces.
Social media further fuels fashion trends and influences consumers’ jewelry
preferences.
Market Restraints
Presence of counterfeit products offered at lower prices impacts the sales of
established brands. Stringent regulations regarding the use of harmful
chemicals in jewelry production also increases compliance costs for
manufacturers.
Segment Analysis
In U.S. Costume Jewelry Market, the bracelets and necklaces segments are
dominating due to their wide popularity and usability. Bracelets accounts for
the highest share as they are affordable, trendy and give a complete look to
outfits. With increasing influence of fashion trends and celebrity culture,
bracelets segment is witnessing massive growth in sales. The necklaces comes
second with attractive designs, elegant looks and available in all price range
which makes them a preferred choice across all age groups and occasions.
Earrings and rings follow next due to rising trend of multiple ear piercing and
stacks rings look respectively. Anklets are the emerging segment due to hot
weather trends and influence of beach fashion.
Global Analysis
Regionally, North America holds the largest share in the market and is expected
to maintain dominance over the forecast period. Rise in fashion consciousness
coupled with presence of key players in the region drives market growth. Mexico
and United States are the major contributors being early adopters of fashion
trends. Europe holds the second largest share with Italy, UK and France
emerging as major costume jewelry hubs. Presence of large number of designers
and affordable luxury in jewelry drives the market. Asia Pacific is the fastest
growing region on back of increasing disposable income, western influence and
influence of social media. China and India are expected to emerge as lucrative
markets whereinJapan dominates the high-end costume jewelry segment. Latin
America and Middle East & Africa offer substantial growth opportunities
attributable to hot climate, festivals and ceremonies demanding fashion
jewelry.
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Costume Jewelry Market
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