London, 16 December 2015: Technavio, the independent tech-focused global research firm, has published a report on the global diamond jewelry market 2015-2019, which is estimated to grow at a CAGR of 3.19% during the period of 2014-2019.
“Consumers worldwide prefer branded products and services as a brand reduces the consumer’s risk of making a wrong purchase. One of the reasons why consumers prefer branded diamond jewelry is the diamonds are IGI certified and emerging market consumers trust brands more than privately owned jewelry shops,” says Faisal Ghaus, Vice President of Technavio.
Diamond rings dominate the diamond jewelry market, accounting for 50% of the overall market share. Some of the types of rings available in the market are diamond engagement rings, diamond anniversary rings, three-stone rings, and solitaire rings. Some of the new trends in diamond engagement rings are halo engagement rings, solitaires with a twist, double row or split shanks, and rose gold.
Global diamond jewelry market by product types
Source: Technavio, 2015
Key Market Drivers
- Rise in demand from emerging couintries
- Increase in demand for jewellery with small sized diamonds
- Preference for giving jewellery as a gift
- Pre-touch points have increased the sales of diamond jewellery
Key Market Trends
- Rising preference for branded jewellery
- Emerging market for men’s diamond jewellery
- Rise in online sales of diamond jewellery
- Rising demand for vintage diamond jewellery
- Innovation in type
Key Market Vendors
- Buccellati
- Chow Tai Fook
- De Beers
- Harry Winston
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
If you are interested in more information on this topic and our upcoming research on the Global Diamond Jewelry Market 2015-2019, please send an e-mail to media@TechNavio.com.
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