This market research report presents a detailed segmentation of the global gems and jewelry market by product type (gold jewelry, diamond jewelry, and platinum jewelry). It provides a market share analysis and projections of its key regions, including APAC, Europe, North America, and ROW. Key findings also include an analysis of the leading vendors such as Chow Tai Fook Jewelry Group, Compagnie Financière Richemont, Signet Jewelers, Rajesh Exports, and LVMH Moët Hennessy.
Technavio has released its new market research report, global gems and jewellery market, which is expected to grow at a CAGR of around 6% between 2015 and 2019. The frequent usage of jewellery items in day-to-day activities is a major factor propelling the demand for gems and jewellery. Consumers are buying gold and diamond jewellery as gifts for marriages, birthdays, and anniversaries. APAC is the fastest-growing region in the global gems and jewellery market, accounting for more than 52% of the total market revenue. India and China markets are the largest markets for gold jewellery in this region, contributing to 80% of gold jewellery demand globally.
“One of the interesting trends gaining momentum in this market is multichannel marketing by the vendors. The manufacturers are increasingly using online platforms to promote their product with various price segments not only through the third party portal, but also through their own online shopping portal. Various manufacturers are also using various mobile based applications to indulge customers in buying the products,” says Sriram Mohan, Industry Manager, Consumer & Retail, Technavio Research.
The growing organized retail format is also expected to contribute to the market growth during the forecast period. All the key vendors in markets such as the US, the UK, Japan, and Italy operate through their exclusive modern retail jewelry stores or specialty jewelry stores. This trend is also being witnessed in emerging markets such as India. For instance, Titan became the largest organized retailer for gems and jewelry during 2014 with a market share of 4% in India. It started its flagship brand store called ‘Tanishq’ in 1994 and within ten years of operation the retailer has created a significant footprint in the Indian market.
The key players in the global gems and jewellery market include Chow Tai Fook Jewelry Group, Compagnie Financière Richemont, Signet Jewelers, Rajesh Exports, and LVMH Moët Hennessy. The market is highly competitive with the presence of five major vendors and numerous small and mid-sized vendors. The five key vendors contributed 12% of the global revenue during 2014.
A more detailed analysis is available in the Technavio report, Global Gems and Jewellery Market 2015-2019.
We can customize this reports by other regions and specific segments upon request.
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- Global Precious Metals Market 2015-2019
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