Global Demi-fine Jewelry Market Size, Share & Industry Trends Analysis Report By Application (Women and Men), By Distribution Channel, By Price Range (151-300 USD, Below 150 USD, and 301-500 USD), By Regional Outlook and Forecast, 2022 - 2028
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Get in-depth analysis of the COVID-19 impact on the Demi-fine Jewelry Market
Market Report Description
The Global Demi-fine Jewelry Market size is expected to reach $4.3 billion by 2028, rising at a market growth of 13.0% CAGR during the forecast period.
Demi fine term refers to the jewelry brands that are attainable premium jewelry. The demi-fine jewelry products are produced by the usage of semi-precious and precious metals & stones. This type of jewelry is also known as jewelry having shine & aesthetics of high quality but at an affordable price. The demi-fine jewelry is a combination of fine jewelry with costume jewelry crafted from gold and other precious & semi-precious metals.
The jewelry pieces are made up using gold plating techniques to give the ornament luster similar to gold. Demi fine jewelry is the perfect combination of fashion and luxury so enabling modern consumers to wear contemporary jewelry designs that are crafted with premium quality materials at reasonable prices.
This type of jewelry combines a solid core of 925 sterling silver with the 14-karat to 18-karat gold vermeil layer. The major difference between demi-fine jewelry and costume jewelry is the utilization of metals to craft them. Costume jewelry is generally produced by using base metal. This is considered the cheapest way to craft fashion jewelry.
Base metals refer to an unspecified mix of metals that is usually plated with thin layers of gold and silver. This type of jewelry quickly gets discolored and can also contain metals like nickel that may cause skin irritation. This is not the case with demi-fine jewelry. Demi fine jewelry only contains premium metals that usually are not associated with any skin issues.
This type of jewelry is emerging as the new affordable version of fine jewelry. The affordability of jewelry is a major contributor to the market growth as this is a major factor in rising the demand for demi-fine jewelry from women consumers who always desire to expand their collections. This kind of jewelry is long-lasting and can be worn on a routine basis.
COVID-19 Impact Analysis
The outbreak of COVID-19 has affected most industries as well as the world’s overall economy. The demi-fine jewelry market has been negatively impacted during the pandemic period. Loss of income, cancellation of various events as well as the postponement of weddings and other family functions have resulted in a decline in the sale of demi-fine jewelry. The production units were completely shut for the initial few months of the COVID-19 outbreak. The pandemic has severely disrupted the sale of jewelry through brick and motor stores.
Market Growth Factors
Growing Affordability And Spending Capabilities Of Customers
The economy's growth of developed as well as developing nations is also resulting in high spendable income and affordability of consumers. Owing to this, people are more willing to buy luxurious items such as demi-fine jewelry crafted from precious metals. In addition, the demand for jewelry to be worn at festivals such as Lohri, Diwali, Chinese New Year, and others are anticipated to fuel the market growth. Consumers with high-income levels also are willing to purchase such jewelry as gifts for their relatives, friends, and close ones.
The Rising Influence Of Social Media Platforms
The emergence of social media platforms is playing a significant role in changing the behavior of consumers. Social media platforms are becoming a reputed way to easily communicate with the consumer directly. These platforms are the major promoters of the latest fashions through reality shows, movies, music videos, and others. As a result of the influence of social media platforms over consumer behavior, consumers are shifting toward the demand for customized jewelry. Women consumer desire to have accessories that are an ongoing trend on social media.
Market Restraining Factors
Stringent Rules Over Import & Export Restrict The Market Growth
Most nations across the globe are maintaining stringent rules regarding the import & export of jewelry items and precious metals. This has resulted in increased costs to be spent on trade duties increasing the overall cost of the jewelry. Also, the growing political tension between some nations in the world has made it necessary for governments to ban the import of ornaments from other nations.
Price Range Outlook
Based on price range, the demi-fine jewelry market is divided into below 150 USD, 151-300 USD and 301-500 USD. The 151-300 USD segment dominated the demi-fine jewelry market with the maximum revenue share in 2021. High-quality jewelry is majorly available within this price range. Consumers generally prefer choosing high quality jewelry when it comes to buying jewelry for some particular occasion or festivals. The demand in this segment is further rising due to high income levels in developed nations which are leading to market growth.
Distribution Channel Outlook
On the basis of distribution Channel, the demi-fine jewelry market is fragmented into offline, and online. In 2021, the online segment covered a significant revenue share in the demi-fine jewelry market. The major benefit of an online sales channel is the convenience it provides. This channel makes it easy for companies to enter a new market with less risk and low initial investment. Consumer nowadays prefers shopping online due to the risk of getting infected due to virus outspread.
By application, the demi-fine jewelry market is segmented into women and men. In 2021, the women segment witnessed the maximum revenue share in the demi-fine jewelry market. This is because of high income levels and economic independence of women consumers. Women are major users of jewelry items and are considered the main targeted audience. Furthermore, a wide range of jewelry is available in the market for this segment.
|Market size value in 2021||USD 1.8 Billion|
|Market size forecast in 2028||USD 4.3 Billion|
|Historical Period||2018 to 2020|
|Forecast Period||2022 to 2028|
|Revenue Growth Rate||CAGR of 13% from 2022 to 2028|
|Number of Pages||164|
|Number of Tables||330|
|Report coverage||Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling|
|Segments covered||Price Range, Distribution Channel, Application, Region|
|Country scope||US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria|
Region wise, the demi-fine jewelry market is analyzed across North America, Europe, Asia Pacific and LAMEA. The Asia Pacific region led the demi-fine jewelry market with the highest revenue share in 2021. The regional market is flourishing as a result of the presence of major market players like Queelin, Tanishq, and others. Along with this, the demand for attractive jewelry in the APAC region is driven by traditional events and festivals such as Diwali, and Shogatsu. Also, the favorable investment polices of government in regional nations further offers growth opportunities to market players in this region.
Free Valuable Insights: Global Demi-fine Jewelry Market size to reach USD 4.3 Billion by 2028
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.
Scope of the Study
Market Segments Covered in the Report:
By Distribution Channel
By Price Range
- 151-300 USD
- Below 150 USD
- 301-500 USD
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Otiumberg Limited
- Missoma Limited
- Edge of Ember
- Astley Clarke Limited
- WWAKE, Inc.
- Loren Stewart
- Monica Vinader Ltd.
- Natasha Schweitzer
- Sarah and Sebastian Pty. Ltd.
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What would be the size of the Demi-fine Jewelry Market by 2028?
The Demi-fine Jewelry Market size is projected to reach USD 4.3 billion by 2028.
What are the key driving factors and challenges in the Demi-fine Jewelry Market?
Growing Affordability And Spending Capabilities Of Customers are driving the market in coming years, however, Stringent Rules Over Import & Export restraints the growth of the market.
What are the major top companies in the competitive landscape?
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.
At what CAGR is the Demi-fine Jewelry Market estimate to grow in the forecast period?
The expected CAGR of the Demi-fine Jewelry Market is 13.0% from 2022 to 2028.
Which segment shows a high revenue share of the Demi-fine Jewelry Market in 2021?
The Offline segment acquired maximum revenue share in the Global Demi-fine Jewelry Market by Distribution Channel in 2021 thereby, achieving a market value of $3.4 billion by 2028.
Which region dominated the Demi-fine Jewelry Market in 2021?
The Asia Pacific market dominated the Global Demi-fine Jewelry Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1.7 billion by 2028.