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The Asia-Pacific Costume Jewelry Market Size is anticipated to experience a growth of 8.3% CAGR during the forecast period (2016 - 2022).
Costume Jewelry also known as fashion jewelry, manufactured as ornamentation to compliment fashion or general outfits. Costume jewelry provides an inexpensive way to add glamour and fashion, as it is made of cheap materials, like plastic, glass, plain steel, copper and others. Fashion statement has become one of the trends among population.
The demand for the costume jewelry is followed by female and male consumers. It has been seen that women hold the largest share in buying costume jewelry. However, men also contribute in the rising demand of costume jewelry. Additionally, most of the people get inspired with the jewelry their favorite celeb wears or endorse. Market players also suggest that demand for celeb look-a-like jewelry is high in demand.
People demand for the same designs in Fashion jewelry. Therefore, growing fashion customers could be the key leading factor for the growth of costume jewelry market. Changing lifestyle in countries like India and China is one of the top leading factors contributing to the growth of costume jewelry market. Shift to the rural and urban areas have been growing rapidly.
The estimates in Population Division (2014) of the United Nations states that, 54 % of the world's population resided in urban areas in 2014, and by 2050, 66 % of the world's population is expected to move to urban areas?. Hence, the consumer shift to urbanization would result in the increasing demand for costume jewelry market. The Costume Jewelry Market has been segmented on the basis of product type, gender, mode of sale, and Country. Based on Product Type, the market is segmented into Bracelets, Necklaces & Chains, Earrings, Rings, Cufflinks & studs, and Others (Brooches, pendants, anklets, pins).
Based on Gender, the market is segmented into Male and Female. Based on Mode of Sole, the market is segmented into retail and online. Based on Country, the market is segmented into China, India, Japan, South Korea, Singapore, Malaysia and Rest of Asia-Pacific. The key players operating in Costume Jewelry market are Avon Product Inc., Buckley London, Swank, Inc., Cartier, Louis Vuitton, Giorgio Armani S.p.a, and Billig Jewelers, Inc.