Growing awareness about the unique appeal and personalization
of handmade jewelry is anticipated to drive the growth of the
global handmade jewelry market during the forecast period. The
Asia-Pacific region is expected to
observe significant growth by 2032.
PORTLAND, Ore., April 19, 2024 /PRNewswire/ -- Allied Market
Research has recently published a report, titled,
"Handmade Jewelry Market Size, Share,
Competitive Landscape and Trend Analysis Report by Material, by
Type, by Distribution Channel: Global Opportunity Analysis and
Industry Forecast, 2023-2032". According to the report, the
global handmade jewelry market was valued at $151.5 billion in 2022, and is projected to reach
$472.5 billion by 2032, growing at a
CAGR of 11.9% from 2023 to 2032.
Download Sample Pages of Research Overview:
https://www.alliedmarketresearch.com/handmade-jewelry-market-A323156
Prime Determinants of Growth
The rising awareness about the unique appeal and personalization
of handmade jewelry, coupled with increasing disposable incomes of
people worldwide, is driving the market's growth. Moreover, the
increasing awareness of environmental conservation plays a
significant role in driving the expansion of the handmade jewelry
market. However, the increasing accessibility challenges and higher
costs compared to mass-produced alternatives are restraining the
market's growth during the forecast period. On the other hand, the
rising consumer demand for ethically crafted and environmentally
sustainable handmade jewelry is expected to unlock rewarding growth
opportunities in the global handmade jewelry market.
Report Coverage & Details:
Report
Coverage
|
Details
|
Forecast
Period
|
2023–2032
|
Base Year
|
2022
|
Market Size in
2022
|
$151.5
billion
|
Market Size in
2032
|
$472.5
billion
|
CAGR
|
11.9 %
|
No. of Pages in
Report
|
310
|
Segments
covered
|
Material, Type,
Distribution Channel, and Region
|
Drivers
|
Rising consumer
preference for unique & personalized handmade
jewelry
An increase in demand
for unique jewelry types
Growing proliferation
of online platforms
|
Opportunities
|
Increasing demand for
handmade jewelry in emerging markets
Growing awareness and
appreciation for ethically sourced & environmentally
sustainable products
Rise in the number of
artisan workshops
|
Restraints
|
Higher costs due to
intricate craftsmanship, limiting appeal to budget-conscious
consumers
|
Procure Complete Report (310 Pages PDF with Insights, Charts,
Tables, and
Figures): https://bit.ly/446bPu1
Material: Gold Sub-Segment to Grow with Highest CAGR by
2032
The gold sub-segment dominated the market in 2022, holding a
major share of 41.3%. This sub-segment is also expected to grow at
the highest CAGR of CAGR of 12.5% during the forecast period. This
growth is mainly due to gold's enduring value, symbolic
significance, and unique properties, making it a preferred material
for crafting handmade jewelry across diverse global markets. In
addition, factors such as gold's rarity and association with
cultural heritage, especially evident in countries like
India, are expected to further
fuel its market growth during the forecast period.
Type: Beaded Jewelry Sub-Segment to Hold Leading Market Share
by 2032
The beaded jewelry sub-segment led the market in 2022, holding a
substantial share of 27.1%. This sub-segment is expected to hold a
leading market share of 28.9% by 2032. The growth of the
sub-segment is mainly because of beaded jewelry's timeless allure
and versatility across various materials including silver, gold,
and other metals. Moreover, the unique appeal of handmade pieces
reflects individual craftsmanship and creativity, which contributes
to its market growth.
Distribution Channel: Offline Sub-Segment to Hold Leading
Market Share by 2032
The offline sub-segment dominated the global handmade jewelry
market share in 2022, holding a major share of 67.3% and is
expected to hold a leading market share by 2032. This growth is
mainly due to the preference of many individuals for offline
shopping experiences, especially for significant investments like
bridal jewelry. Face-to-face interactions with knowledgeable sales
staff instill trust and confidence among customers. This
personalized assistance allows them to inspect the jewelry
firsthand, making well-informed decisions.
Region: Asia-Pacific to Hold
the Dominant Market Position in the Forecast Period
The Asia-Pacific region
dominated the global handmade jewelry market in 2022, holding a
major share of 57.6% and is expected to grow with a CAGR of 12.4%
during the forecast period. This is mainly due to the region's
deeply ingrained cultural significance, where jewelry symbolizes
tradition and heritage, particularly in countries like India. Moreover, the region's increasing
awareness of sustainability and ethical sourcing drove the demand
for handmade jewelry, aligning with consumers' preferences for
environmentally friendly and socially responsible products.
Want to Access the Statistical Data and Graphs, Key Players'
Strategies:
https://www.alliedmarketresearch.com/purchase-enquiry/A323156
Leading Players in the Handmade Jewelry Market:
- Proline Designs LLC
- SUSILA Jewelry
- Guild+facet
- COLPO & ZILIO S.P.A.
- Bell & Brunt
- Tiffany & Co.
- Vernet Dray
- Etsy, Inc.
- Silver Leaf Gems
- Kay Seurat Boise, ID
The report provides a detailed analysis of the key players of
the global handmade jewelry market. These players have adopted
different strategies, such as new product launches, collaborations,
expansion, joint ventures, agreements, and others to increase their
market share and maintain their dominance in different regions. The
report is valuable in highlighting business performance, operating
segments, product portfolio, and strategic moves of market players
to showcase the competitive scenario.
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