The demi-fine jewelry market was valued at USD 3.10 billion in 2023. The market is projected to grow to USD 5.32 billion by 2030, exhibiting a CAGR of 8.00% during the forecast period.
Demi fine jewelry is made with ornaments made with precious metals, such as sterling silver and vermeil gold. Demi-fine jewelry falls between cheap costume jewelry and expensive delicate jewelry. The low price range is set to propel the sale of demi-fine jewelry during the forecast period.
Fortune Business Insights™ mentioned this in a report titled “Demi Fine Jewelry Market, 2024-2030.”
Information Source: https://www.fortunebusinessinsights.com/demi-fine-jewelry-market-108419
Top Key Company Covered in the Demi-fine Jewelry Market
- Missoma (U.K.)
- Monica Vinader Ltd. (U.K.)
- Sarah & Sebastian Ltd. (Australia)
- Otiumberg (U.K.)
- Edge of Ember (U.K.)
- Loren Stewart (U.S.)
- Astley Clarke Limited (U.K.)
- Catbird (U.S.)
- Curteis (U.S.)
- WWAKE, Inc. (U.S.)
Segments-
Rising Demand for Trendy Jewelry to Propel Market Growth for Earrings
By type, the market is segmented into bracelets, earrings, necklaces, and rings. Due to the increasing demand for trendy jewelry and its growing popularity among women, the market is expected to witness growth during the forecast period. The rising consumer inclination toward earrings also propels the market growth over 2023-2030.
Rising Demand for Fusion Jewelry Designs amongst Women to Drive the Segment
Based on end user, the market is segmented into women and men. The women segment will dominate the demi fine jewelry market share and hold a significant market share over 2023-2030. The increasing trend of fusion jewelry that combines modern, ethnic, and traditional jewelry is driving the market during the forecast period.
Availability of Different Brands and Growing Consumer Preference to Aid Market Growth
Based on sales channel, the market is divided into offline store and online store. The offline store segment is estimated to dominate and hold the highest market share during the forecast period. The rising consumer preference and wide availability of various jewelry brands and physical verification to propel the market growth during the forecast period.
Geographically, the market is studied across North America, Europe, Asia Pacific, South America, and Middle East & Africa.
Report Coverage-
The report offers:
- Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
- Comprehensive insights into regional developments.
- List of major industry players.
- Key strategies adopted by the market players.
- The latest industry developments include product launches, partnerships, mergers, and acquisitions.
Drivers & Restraints-
Growing Disposable Consumer Income to Accelerate the Market Growth
High disposable income and consumer affordability due to increased economic growth in developing and developed countries are driving the growth of demi fine jewelry market during the forecast period. During Indian festivals such as Lohri and Diwali, the demand for jewelry propels product adoption.
The European Union (EU) has implemented a directive to limit the use of nickel in jewelry products, such as bracelets, necklaces, and rings which may hamper the market growth.
Regional Insights-
Increasing Levels of Disposable Income to Propel Market Growth in Asia Pacific
Asia Pacific is estimated to have significant growth rate in the demi fine jewelry market share due to increasing demand for China, India, and Japan. With rapid rate of expansion of middle class population and increase in the disposable income are set to drive the market growth.
European market growth during the forecast period is driven due to rising demand for fusion jewelry, including glass, wood, and metal.
Competitive Landscape-
Key Players Focusing on Product Development to Drive the Market Development
Key market players focus on developing new and innovative products, including recycled metals, to fulfill the increasing consumer demand, driving market growth. The market is moderately competitive and is classified by internationally reputed and small market players.
Notable Industry Development
February 2021: U.S.-based jewelry manufacturer has launched a new demi fine jewelry with nine 1990s-inspired bracelets, hoops, and necklaces.