The Asia Pacific Demi-fine Jewelry Market would witness market growth of 13.3% CAGR during the forecast period (2022-2028).
Demi fine jewelry is crafted with semi-precious stones such as opals, topaz, and aquamarine. These stones are not highly demanded if compared to stones such as diamonds. Due to this, sources of obtaining these stones are generally reliable. Also, some precious stones that are in high demand are used in the demi fine jewelry market and are manufactured in labs.
For instance, stones like white sapphire & morganite look similar to diamonds but are much more affordable than diamonds. Also, demi fine jewelry enables the user to enhance their outfit by precious pieces that are casual looking for routine use.
Self-giving is the latest trend among people, mainly millennials. People nowadays believe in rewarding themselves or celebrating their achievements by buying themselves luxury gifts. As the demi fine jewelry pieces come at affordable prices, these are considered an appropriate option to be chosen as a reward. The easy accessibility of demi fine jewelry is further surging demand for them.
Indian gems & jewelry sector contributed around 7% of the nation's GDP. The government of the nation as well as other stakeholders are focusing on aggressively promoting the export of gems & jewelry and addressing the challenges being faced by the industry, especially the small businesses. With an aim to expand industry reach and grow in terms of revenue, the Indian government has declared this sector as a focus industry to promote export practices.
The China market dominated the Asia Pacific Demi-fine Jewelry Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $618.9 Million by 2028. The Japan market is estimated to grow a CAGR of 12.5% during (2022 - 2028). Additionally, The India market would experience a CAGR of 14.4% during (2022 - 2028).
Based on Application, the market is segmented into Women and Men. Based on Distribution Channel, the market is segmented into Offline and Online. Based on Price Range, the market is segmented into 151-300 USD, Below 150 USD, and 301-500 USD. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Demi-fine Jewelry Market is Projected to reach USD 4.3 Billion by 2028, at a CAGR of 13%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Otiumberg Limited, Missoma Limited, Edge of Ember, Catbird, Astley Clarke Limited, WWAKE, Inc., Loren Stewart, Monica Vinader Ltd., Natasha Schweitzer, and Sarah and Sebastian Pty. Ltd.
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