The rising economic development, growing of middle-class population, and high net worth individuals have resulted in the increasing demand for fine pearl jewelry market in APAC.
According to the latest Arizton's market research report, the pearl jewelry market size to cross USD 20 billion by 2025, growing at a CAGR of 13% during the forecast period.
Pearl Jewelry Market Growth
The pearl jewelry market is highly dynamic and witness rapid growth with the rising consequential changes in both consumer behavior and the industry trends. Earrings such as pearl studs and pearl drops are popular among the female population of all age groups. Casual attire has become more acceptable due to increasing number of social settings and in offices, which in turn, is fueling the demand for pearl jewelry across the globe. International pearl jewelry retailers are also offering a variety of designs and types of freshwater pearl earrings to make it more appealing to consumers. However, these jewelries are becoming less expensive and will fit into all kinds of budgets, creating growth opportunity in the market. The online jewelry market is expected to grow at a much faster rate during the forecasted period.
Growth of Computer Aided Technology in Jewelry Designing
Drafters used to spend hours in designing jewelry and required to re-draw it multiple times before creating a beautiful design. The introduction of computer-aided designing (CAD) technology software has completely changed the traditional jewelry making process. CAD software allows professionals to create more complex and precise designs, which are also easy to modify. CAD technology enables designers to create incredible jewelry designs that are impossible to do by hand. Customized pieces/designs is one of the emerging trends in the global jewelry market owing to the rising demand among young millennial women. CAD technology further allows easy rendering of designs to clients. The increasing adoption of CAD technology in production of these jewelries will transform the global market during the forecast period.
- Market Size & Forecast by Revenue | 2019−2025
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Segmentation – A detailed analysis by pearl, material, jewelry, and geography
- Competitive Landscape –17 Key Company Profiled
Pearl Jewelry Market– Geographic Analysis
APAC was the largest pearl jewelry market in 2019 and is expected to witness fastest growth during the forecast period. The rising economic development, growing of middle-class population, and high net worth individuals have resulted in the increasing demand for fine pearl jewelry in the APAC market. Europe was the second-largest market for pearl jewelry across the globe in 2019. The rising economic growth, female working population, growing number of marriages, rising fashion influences, and e-commerce retailing are driving the jewelry market in the region. The availability of various designs, colors in pearls and a wider price bracket is fueling the demand in the pearl jewelry market in Europe.
The global pearl jewelry market is highly fragmented in nature with the presence of large number of international and regional players. Vendors are required to be responsive to the changing trends and development or will be left behind by more agile competitors. Many players are expected to expand their presence worldwide especially in the fast-developing countries during the forecast period. The pearl jewelry retailers are increasingly trying to integrate with more than one part of the supply chain to sustain in the competitive world. The improvement of global economic conditions will fuel growth, making it an attractive time for entering the market. Vertical integration will allow companies to establish a competitive advantage while considerably lowering the manufacturing cost, thereby making business models that are more efficient and cost-effective. The vendors are competing based on product design, quality, and competitive pricing.
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