Costume Jewelry Market Will Hit Big Revenues In Future During The Forecast Period 2022-2028

Costume Jewelry Market

Costume or fashion jewelry refers to a variety of decorative items worn for personal adornment that are produced as less expensive ornamentation to complement a specific fashionable outfit or garment, as opposed to "real" (fine) jewelry, which is more expensive and may be viewed primarily as collectibles, keepsakes, or investments. Costume jewelry, also known as fashion jewelry, has always followed in the footsteps of its more precious fine counterparts. The term "costume jewelry" first appeared in the early twentieth century. It reflects the earlier use of the term "costume" to refer to what is now known as an "outfit". It is also known as imitation jewelry, imitated jewelry, trinkets, fashion jewelry, junk jewelry, fake jewelry, or fallalery.

According to a research in 2019, the global Costume Jewelry Market was valued at USD 26.83 billion, with a projected increase to USD 39.1 billion in 2025. The female gender segment accounted for more than half of the total costume jewelry market in 2019 and is expected to grow at a CAGR of 7.7% over the forecast period. Costume jewelry has gained traction in emerging markets as a result of changes in lifestyle, an increase in disposable income, and a rise in precious metal jewelry prices, which contributes to the growth of the costume jewelry market.

 Furthermore, female consumers' increased fashion consciousness and increased adoption of jewelries such as necklaces, rings, and bracelets drive the growth of the costume jewelry market. According to Costume Jewelry Market trends, the retail sale was the most prominent segment in 2019, accounting for the largest share of the Costume Jewelry Market. This is due to options such as discounts and trials before purchase, as well as the benefit of immediate gratification. However, the online sale segment is expected to grow the fastest, owing to increased internet penetration and the increased use of smartphones for online shopping, which allows consumers to compare products in real-time and make informed decisions

North America is the most promising emerging market, owing to its evolved retail structure and higher adoption of costume jewelry, owing to combative marketing and celebrity brand extension. Furthermore, increased consumer spending on fashion accessories contributes to costume jewelries popularity in this region. The Costume Jewelry Market, on the other hand, has received a boost from the economic growth of the Asia-Pacific and LAMEA regions. Market growth is expected to be driven by rising fashion consciousness and rising living standards. Due to their availability and increased demand from men, costume jewelries are currently in high demand among corporate people, working women, teenagers, and the working population, driving the overall market growth.

Key Players - Stuller Inc., Louis Vuitton, Buckley London, Cartier, Swank, Inc., DCK Concessions, Billig Jewelers Inc., Avon Product Inc., Giorgio Armani S.p.A., and BaubleBar Inc.