The Latin America, Middle East and Africa Demi-fine Jewelry Market would witness market growth of 15.7% CAGR during the forecast period (2022-2028).
The ornament industry is witnessing high growth opportunities because of the changing life style and rise in prices of precious metals which is rising the demand for semi luxury jewelry. Female consumers across the globe are more fashion conscious and are desiring to have trendy ornaments such as rings, bracelets and necklaces which is supporting to market growth.
Besides this, the market players are increasingly investing in the market with cutting edge manufacturing technologies, partnering with other companies to expand their worldwide reach. The design demand in jewelry industry is wholly dependent of customer’s lifestyle and preference which is highly influenced by the social media trends.
From the past few years, most of the consumers are attracted toward the combination of edgy maximalist designs to classic minimalism designs. Purchasing decision of consumers are shifting drastically toward the life proof & affordable jewelry from the high-quality jewelry. Also, some of the consumers in market are keen to have jewelry manufactured by combining birthstones to zodiac signs and semi-precious metals.
The United Arab Emirates is one of the strongest economies in the Middle East region comprised of a growing luxury sector. The nation has various luxurious shopping centers such as the Dubai Mall and Mall of the Emirates. The region is one of the largest diamond trading hubs in the world. This is due to the free trade policies offered by the authorities which have encouraged traders to invest in the region. Furthermore, the region is among the most preferred place for tourism overseas as well as within the region. Due to this, growing tourism industry, people in the region along with tourists are demanding fashion jewelry.
The Brazil market dominated the LAMEA Demi-fine Jewelry Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $76.6 Million by 2028. The Argentina market is experiencing a CAGR of 16.3% during (2022 - 2028). Additionally, The UAE market would display a CAGR of 15.1% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Demi-fine Jewelry Market is Predict to reach $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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