India Costume Jewelry Market, By Product Type (Necklaces & Chains, Earrings, Rings, Bracelets, Others), By Distribution Channel (Online, Offline), By Region, Competition, Forecast & Opportunities, 2021-2031F

Market Overview

India Costume Jewelry Market was valued at USD 2.07 Billion in 2025 and is expected to reach USD 2.68 Billion by 2031 with a CAGR of 4.45% during the forecast period. The India costume jewelry market is experiencing significant growth, fueled by increasing fashion awareness, rising disposable incomes, and shifting consumer preferences toward trendy, affordable accessories. Costume jewelry offers a cost-effective alternative to traditional jewelry, appealing particularly to younger consumers and working women seeking style without high investment. The expansion of e-commerce platforms, social media influence, and celebrity endorsements further drive demand. Additionally, the growing popularity of fusion wear and western fashion styles has contributed to the rising acceptance of costume jewelry across urban and semi-urban regions. Local artisans and small-scale manufacturers also play a key role in market development.

Key Market Drivers

Rising Fashion Consciousness and Trend Sensitivity

One of the primary drivers of the India costume jewelry market is the increasing fashion consciousness among consumers, especially among younger demographics. With over 750 million smartphone users in India as of 2023 and over 467 million social media users, exposure to global fashion trends through digital media, social platforms, and celebrity culture has significantly risen. Costume jewelry offers an affordable way to replicate or adapt high-end fashion without the financial burden. Nearly 65% of India's population is under the age of 35, and Millennials and Gen Z are particularly drawn to experimenting with different looks.

Moreover, the influence of digital creators is growing India had over 80 million content creators and influencers as of 2024, many of whom regularly showcase costume jewelry in everyday and event styling. As seasonal trends shift rapidly, costume jewelry provides a flexible option that adapts quickly. The fast-fashion aspect of costume jewelry appeals to the 74% of urban Indian consumers who prioritize novelty and variety in fashion purchases, further fueling market expansion.

Affordability and Accessibility Compared to Fine Jewelry

Costume jewelry’s affordability compared to fine jewelry is another crucial driver of its widespread appeal in India. As economic disparities persist and gold and diamond prices remain high, a large segment of the population prefers economical alternatives that do not compromise on style. Costume jewelry fulfills this need by offering stylish and visually appealing designs at a fraction of the cost of precious metal jewelry. This affordability makes it attractive not only to lower and middle-income groups but also to fashion-forward individuals who prefer multiple accessories to match different outfits and occasions.

Furthermore, with advances in manufacturing and material innovation, costume jewelry today closely mimics the look of real jewelry, offering intricate designs and high-quality finishes. Materials such as oxidized metals, glass, beads, imitation stones, and synthetic pearls are widely used to create attractive pieces that suit both casual and festive occasions. As the quality of costume jewelry continues to improve, consumer confidence in purchasing such products has also increased, making it a preferred option for daily and occasional wear. India's per capita net national income at current prices rose from USD 1,976.58 in 2022–23 to USD 2,207.34 in 2023–24, marking a year-on-year growth of around 11.7%. This increase in income is further supporting the expansion of the market.

Increased Demand from Urban Working Women and Youth

India’s expanding urban population, particularly working women and college-going youth, is a key consumer base for costume jewelry. These groups often seek affordable, stylish accessories that can complement a variety of outfits, including formal wear, western attire, and fusion ensembles. According to data from the National Sample Survey Office (NSSO), the average monthly earnings for urban salaried women increased by 12.6% between 2022 and 2024, reflecting a notable rise in disposable income. This upward trend in earnings has significantly influenced spending behavior, particularly in lifestyle and fashion-related categories. Costume jewelry offers versatility in design, ranging from minimalistic styles suitable for office wear to bold statement pieces ideal for social events and celebrations.

As more women join the workforce and pursue higher education, their purchasing power increases, along with a desire to express individuality through fashion. Costume jewelry serves as a means of self-expression and personal branding, allowing consumers to create unique styles without exceeding their budget. Additionally, the influence of urban lifestyles, greater media exposure, and evolving gender roles are shifting preferences toward fashion accessories that align with modern aesthetics. This changing consumer profile significantly contributes to the sustained demand and innovation in the India costume jewelry market

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Key Market Challenges

Quality Concerns and Product Durability

One of the most persistent challenges in the India costume jewelry market is the issue of inconsistent product quality and limited durability. Unlike fine jewelry, costume jewelry is made using inexpensive metals, synthetic stones, and non-precious materials that may degrade quickly over time. Exposure to moisture, sweat, or perfumes often leads to tarnishing, discoloration, or even allergic reactions, which can significantly diminish consumer trust and satisfaction. Many consumers express concerns over the longevity and skin-friendliness of costume jewelry, particularly when purchasing from unbranded or unverified sellers.

This challenge becomes even more pronounced in the online retail space, where buyers often rely solely on product images and descriptions. The lack of standardized quality control across small-scale manufacturers and local artisans further exacerbates the problem. If the customer receives a subpar product, it can lead to dissatisfaction, returns, negative reviews, and reduced repeat purchases. In a highly competitive market, maintaining consistent quality and ensuring hypoallergenic, durable products are essential to building long-term customer loyalty.

Market Fragmentation and Intense Competition

The Indian costume jewelry market is highly fragmented, consisting of numerous local artisans, small-scale businesses, regional vendors, online sellers, and large organized players. This diversity contributes to a wide variety of products and styles, but it also results in intense price competition and limited brand differentiation. With so many players offering similar-looking designs, it becomes difficult for brands to establish a unique identity and maintain customer retention.

Moreover, new entrants constantly flood the market, both online and offline, increasing competitive pressure on existing businesses. As price sensitivity remains high among Indian consumers, especially in semi-urban and rural areas, many sellers are forced to compromise on margins or reduce quality to remain competitive. This “race to the bottom” approach not only affects profitability but also undermines the overall perception of costume jewelry products.

Key Market Trends

Increasing Popularity of Fusion and Ethnic-Contemporary Designs

One of the most noticeable trends in the Indian costume jewelry market is the rising demand for fusion and ethnic-contemporary designs. Today’s consumers, especially millennials and Gen Z, prefer jewelry that blends traditional Indian aesthetics with modern, minimalist touches. This preference is reflected in the popularity of oxidized silver jhumkas paired with western wear, contemporary kundan chokers for cocktail events, and indo-western tassel earrings worn with both saris and dresses. Such fusion styles offer versatility and allow wearers to express individuality, making them a staple for both daily wear and special occasions.

This trend is also being fueled by the growing appeal of sustainable fashion, as many artisans use recycled materials and traditional techniques to create handcrafted pieces. Consumers are increasingly drawn to jewelry that tells a cultural story or showcases regional craftsmanship be it tribal motifs, Meenakari work, or temple-inspired designs but with a modern twist that suits urban sensibilities. Brands that successfully merge cultural authenticity with contemporary relevance are gaining traction among the style-conscious Indian population.

Rise of Social Media and Influencer Marketing

Social media platforms, particularly Instagram, Facebook, and YouTube, are playing a transformative role in how costume jewelry is marketed and consumed in India. Influencers, fashion bloggers, and content creators often style costume jewelry with trending outfits, creating aspirational looks that drive impulse buying. Reels, unboxing videos, and styling tutorials provide immediate and engaging content that resonates with young, digitally savvy consumers. As per the report, over 80% of young Indian consumers actively follow fashion trends on platforms like Instagram, YouTube, and through digital influencers, significantly shaping their style choices and jewelry preferences. This widespread social media engagement has emerged as a powerful driver of the India costume jewelry market, especially among millennials and Gen Z.

Additionally, many homegrown and small-scale costume jewelry brands use Instagram as their primary storefront, allowing them to showcase curated collections and build niche communities. The direct-to-consumer (D2C) model supported by social media not only reduces overhead costs but also fosters customer loyalty through personalized interactions and real-time feedback. Hashtags like #FashionJewelryIndia or #StatementEarrings regularly trend, giving exposure to brands that otherwise lack access to traditional advertising. This organic form of marketing is becoming a vital sales channel, especially for start-ups and micro-entrepreneurs.

Growth in Customization and Personalized Jewelry

Customization and personalization are emerging as key trends in the costume jewelry space, aligning with consumers’ growing desire for unique, meaningful accessories. From name-engraved bracelets to zodiac-inspired pendants and birthstone rings, personalized pieces offer emotional value that mass-produced designs often lack. This trend is especially strong among Gen Z consumers, who value individuality and exclusivity in their fashion choices.

Many online brands now offer made-to-order services, allowing customers to choose materials, colors, inscriptions, and design elements. This flexibility not only enhances customer satisfaction but also allows sellers to minimize unsold inventory and manage production efficiently. Custom jewelry is also a popular gift option, further increasing demand during festive seasons, birthdays, weddings, and corporate events. As technology enables better customer interfaces and design previews, the appeal of personalized costume jewelry is expected to grow even more in the coming years.

Segmental Insights

Product Type Insights

Necklaces & Chains have emerged as the dominating segment in the India costume jewelry market, driven by their versatility, cultural significance, and strong demand across festive, bridal, and casual wear categories. Available in a wide range of styles—from traditional chokers and temple jewelry to contemporary pendants and layered chains—necklaces appeal to diverse consumer preferences. Their ability to instantly enhance an outfit makes them a popular choice among fashion-conscious individuals. Additionally, the influence of Bollywood, social media, and celebrity endorsements has further fueled the demand for statement necklaces, positioning them as a key revenue-generating segment within the costume jewelry market.

Distribution Channel Insights

Offline channels remain the dominating segment in the India costume jewelry market, owing to consumers’ preference for physically inspecting products before purchase, especially in terms of quality, fit, and design. Traditional jewelry shops, local markets, street vendors, and organized retail outlets continue to attract high footfall, particularly during festivals, weddings, and other cultural occasions. The tactile experience and immediate availability offered by offline stores build trust, especially among older consumers and those in Tier 2 and Tier 3 cities. Additionally, personalized service, bargaining opportunities, and the ability to try on products further contribute to the dominance of offline retail.

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Regional Insights

North region dominated the India costume jewelry market due to its rich cultural heritage, strong demand during traditional festivals and weddings, and a high concentration of fashion-conscious consumers in urban centers like Delhi, Jaipur, and Chandigarh. The region’s affinity for ornate and statement jewelry, including kundan, polki, and oxidized designs, drives consistent sales. Additionally, North India hosts numerous local artisans and manufacturing hubs, particularly in Rajasthan and Uttar Pradesh, contributing to widespread product availability. The combination of cultural significance, consumer preferences, and a thriving retail landscape positions the North as the leading region in the costume jewelry market.

Recent Developments

• In November 2024, Tanishq, the costume jewelry division of the Tata Group, announced the implementation of De Beers' advanced diamond verification equipment in select stores. This initiative is designed to strengthen consumer trust and drive growth in the diamond category, which currently accounts for just 8–10% of the Indian costume jewelry market.

• In April 2025, costume jewelry brand Arvino announced plans to open five new stores across India, aiming to broaden its reach and engage a wider consumer base. The brand’s latest collection, Soleil,’ combines vintage influences with contemporary design, showcasing statement bangles, chokers, sculptural earrings, gemstone beads, and nature-inspired pendants.

• In August 2024, Joyalukkas announced plans to launch a new online-only jewelry brand by FY26, specifically targeting younger, digitally savvy consumers. Unlike competitors Titan and Kalyan Jewellers, which expanded into the online space through acquisitions, Joyalukkas is pursuing an organic growth strategy.

• In April 2025, U.S.-based fine costume jewelry brand Angara officially entered the Indian market, introducing customizable designs and a digital-first shopping approach. To strengthen customer engagement, the brand also plans to launch experiential stores across the country.

Key Market Players

• BlueStone Jewellery and Lifestyle Limited
• CaratLane Trading Pvt Ltd
• Kushal's Retail Pvt Ltd.
• Malabar Gold and Diamonds Limited
• Joyalukkas India Pvt. Ltd.
• Titan Company Limited
• Kalyan Jewellers India Ltd.
• Surat Diamond Jewellery Pvt. Ltd.
• Tribhovandas Bhimji Zaveri Ltd.
• Voylla Fashion Pvt. Ltd.

Report Scope:

In this report, the India Costume Jewelry Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

• India Costume Jewelry Market, By Product Type:

o   Necklaces & Chains

o   Earrings

o   Rings

o   Bracelets

o   Others

• India Costume Jewelry Market, By Distribution Channel:

o   Online

o   Offline

• India Costume Jewelry Market, By Region:

o   North

o   South

o   East

o   West

Competitive Landscape

Company Profiles: Detailed analysis of the major companies presents in the India Costume Jewelry Market.

Available Customizations:

India Costume Jewelry Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).

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