The rise in the e-commerce platforms is fueling growth in the pearl jewelry market size. Consumers across the globe are becoming extremely comfortable shopping online. The key jewelry sellers are capitalizing on the opportunity by coming up with innovative ways, from personalization to curation to home trial options, to address the consumers’ concerns. Furthermore, with the advent of CAD software, custom jewelry has become more affordable and easily accessible to the consumers, thereby driving the growth of the pearl jewelry market size across the globe. The availability of various designs, colors, and a wider price range is increasing the demand for pearl jewelry globally.
The pearl jewelry market size to reach USD 20 billion by 2025 and is expected to grow at a CAGR of over 13% during the forecast period. The pearl jewelry market is highly fragmented with the presence of a large number of international and regional players. Vendors are competing based on product design, quality, and competitive pricing for pearl jewelry. Companies are devoting significant efforts and resources to introduce innovation and proprietary products in the market. According to Arizton, the pearl jewelry market size would reach concentration as the international players operating in the market would try to grow inorganically by acquiring leading players to expand their product portfolio and geographical reach.
Implementation of Computer Aid Technology in Jewelry Designing
Drafters used to spend hours in designing hand jewelry, they had to redraw it multiple times before creating a beautiful design. The adoption of CAD technology enables designers to create incredible jewelry designs that are impossible to do by hand. CAD designs are also combined with 3D printing technology where jewelers can create a wax mold of complex designs as well as custom designs. With the help of CAD technology, custom jewelry can be made easily and at affordable prices. However, this technology allows easy rendering of design to clients. This is an automatic method of generating a photorealistic or non-photorealistic image from a 3D or 2D model. The use CAD technology will not only revolutionize but also add profitability in the global pearl jewelry market size.
APAC Pearl Jewelry Market Overview
APAC is the largest region 2019 and accounted for a 55% share of the global pearl jewelry market. APAC is known as home to some of the largest jewelry markets in the world. Rising economic development, growing middle-class population, and increasing number of high net worth individuals have resulted in the growing demand for pearl jewelry in the market. The industry players in the APAC region are facing stiff competition from the unorganized players due to a lack of brand awareness. So, the players are focusing on extensive advertisements and campaigns to improve brand awareness, especially in urban areas. The pearl jewelry market size in the APAC region is expected to reach USD 12 Billion by 2025 and will grow at a CAGR of 15% during the forecast period.
FAQs about the Pearl Jewelry Market:
Q. What is the market size of the pearl jewelry?
A. The pearl jewelry market size will reach revenue of around USD 20 billion by 2025.
Q. What is the market growth of pearl jewelry?
A. The pearl jewelry market is projected to grow at a CAGR of over 13% during the forecast period.
Q. What is the global market segmentation of the pearl jewelry?
A. The pearl jewelry market is segmented by pearl type, material, jewelry, and geography.
Q. What is the market insight of the pearl jewelry?
A. Apart from the convenience and variety offered in online channels, there is also a price difference that works in favor of the online jewelry players. Thus, for an aware consumer, along with highly comparable prices and assured quality, purchasing from online channels makes more sense.
Q. What are the major regions in the global pearl jewelry market?
A. The leading regions in the pearl jewelry market include North America, Europe, APAC, Latin America, and Middle East & Africa.
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