Press Release

Gems & Jewelry Market to Cross $ 443 Billion by 2022

Rising per capita income levels, increasing consumer spending on lifestyle products, growing global population coupled with increasing youth working population to boost growth in global gems & jewelry market through 2022

According to TechSci Research report, Global Gems & Jewelry Market, By Type, By Region, Competition Forecast & Opportunities, 2012-2022”, global gems & jewelry market to cross $ 443 billion by 2022, owing to rapid westernization of consumer lifestyles and aggressive marketing and promotional strategies by global jewelry brands. Changing lifestyle preferences has led to increasing brand consciousness among consumers and emergence of elegant and exclusively designed jewelry, globally.

According to World Bank, in 2012, global urban population share (as a percentage of total population) was 52.46% and this reached 53.86% by 2015. Moreover, according to International Telecommunication Union (ITU), number of international tourist arrivals as of 2012 was 1,035 million and this rose to 1,186 million by 2015, exhibiting a CAGR of 4.82% through 2015. According to World Bank, population in the age group 15-64 years accounted for a share of 65.62% in the total global population in 2015 and this is further expected to rise during the forecast period. Rising disposable income, changing lifestyle patterns coupled with increasing tourism and growing urban population is anticipated to boost demand for gems & jewelry across the globe during the forecast period.

Browse 12 market data Tables and 144 Figures spread through 215 Pages and an in-depth TOC on "Global Gems & Jewelry Market"

https://www.techsciresearch.com/report/global-gems-jewelry-market-by-type-diamond-in-gold-silver-platinum-gold-etc-by-region-north-america-europe-asia-pacific-middle-east-africa-and-south-america-competition-forecast-opportunities/923.html

Increasing personal disposable income, rising standard of living and expanding middle class household base is propelling demand for gems & jewelry in developed and developing countries. Aggressive marketing and promotional strategies by jewelry companies is boosting sales in developed regions such as US, Europe, etc., due to higher disposable income of consumers. Additionally, demand for gems & jewelry from consumers across developing countries such as China, India, South Korea, etc., is rising at a robust pace. Due to high demand from emerging economies such as India and China, Asia-Pacific has emerged as a fastest demand generator for gems & jewelry across the globe. Moreover, continuous launch of innovative and imported products, and growing awareness among end users about branded jewelry is anticipated to augur well for global gems & jewelry market. LVMH, Richmont, Kering and Swatch are few of the leading players in global gems and jewelry market in 2016.

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“Demand for processed gems and jewelry designed by branded players has served as an impetus for development of global gems & jewelry industry in the recent years. Rising youth population base coupled with changing consumer preferences towards branded and designer jewelry has fueled growth in global gems & jewelry market over the last five years. Leading market players are offering contemporary jewelry designs keeping in mind consumer preferences and latest fashion trends. Some companies are also offering customized jewelry as consumer choice. All these factors are anticipated to bolster growth in global gems & jewelry market in the coming years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

Global Gems & Jewelry Market, By Type, By Region, Competition Forecast & Opportunities, 2012-2022 has evaluated the future growth potential of global gems & jewelry market and provides statistics and information on market structure, size, share and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities present in global gems & jewelry market.

 

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Rising per capita income levels, increasing consumer spending on lifestyle products, growing global population coupled with increasing youth working population to boost growth in global gems & jewelry market through 2022

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