The market for demi-fine jewellery is expected to expand rapidly because of the contemporary, trend-driven designs and reasonable costs. The major European nations with the highest growth in demand for semi-fine jewellery are Italy, France, Germany, and the United Kingdom. The expanding e-commerce sector, expanding brand online presence, and rising social media and app usage have created a lucrative potential for the market to build its client base.
Newark, March 13, 2023 (GLOBE NEWSWIRE) — The demi fine jewelry market was estimated at around 1.92 billion in 2021, growing at a CAGR of nearly 14% during 2022-2030. The market is projected to reach approximately USD 6.5 billion by 2030.
Demi-fine jewellery is a category of jewellery made with metals and precious and semi-precious stones. It can be characterized as jewellery with the lustre and elegance of high-end jewellery but at a reasonable price. Due to its composition of gold and precious metals, demi-fine jewellery resembles both fine and costume jewellery. These jewellery items are created from metals and given a gold-like sheen utilising gold plating procedures. Demi-fine jewellery has a 925-sterling silver core with a 14k or 18k gold vermeil overlay applied on top to achieve an appealing pricing. Then, semi-precious stones like crystals, amethyst, and others are added to the jewellery. Most of the semi-fine jewellery is priced between $100 and $400 USD.
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The market for semi-fine jewellery is rapidly expanding as more young people turn to it for stylish, reasonably priced jewellery. A growing number of purchasers are being influenced by the wide selection of jewellery pieces, such as necklaces, various earrings, bracelets, rings, and others, to dress according to personal preferences and tastes. Working women, older women, and youth wear demi-fine jewellery as everyday jewellery because of its simple yet distinctive designs. The affordability of demi-fine jewellery is another benefit over fine jewellery, which is comprised of pure precious metals like gold, platinum, or silver. Numerous clients have been drawn to the excellent jewelry’s affordable alternative. Since semi-precious gemstones are used, stackable and expressive demi-fine jewellery is more popular.
Due to the reasonable gifting options, demand for semi-fine rings and earrings is rising, which is boosting market sales as a whole. The availability of this jewellery through an internet distribution channel is driving up demand for it everywhere. Companies that deal in semi-fine jewellery are growing internationally to meet demand, and the introduction of new designs through ongoing development is expected to accelerate market growth. Key firms are also concentrating on developing client relationships through a network of customer service providers. They are also establishing a concept similar to a pawn shop in the demi-fine jewellery to resell undesired jewellery, which is expected to improve client relationships.
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Due to its use in the polishing of hard metals and their alloys, such as ceramics, sapphire substrates, Based on the end user, the global Demi fine jewellery market is divided into online stores and flagship stores. The online store emerged as the dominant segment in 2020 and is anticipated to continue to hold this position throughout the projection period. The COVID-19, where store visits were restricted by COVID, saw the greatest increase in demand for online retailers. Easy accessibility and convenient ordering from far-off stores are major drivers of the internet market’s expansion.
Over the forecast period, the online segment is anticipated to experience a substantial CAGR of 15%. The primary benefit of indirect distribution to the customer is convenience and quickness. Online sales channels make it simple and quick for businesses to enter new markets, generally with no risk and expense. Many jewellery merchants have been compelled to hastily establish an online presence because of the substantial expansion possibility in the online jewellery industry. By 2025, McKinsey and Company predicts that 18% of jewellery sales will take place online. As a result, the segment is anticipated to increase at a notable CAGE during the forecast period.
Men’s clothing has a sizable market share and is anticipated to expand at a CAGR of 14% over the forecast period. This is related to the growing trend among males who want to buy jewellery as a way to show off their high status, individual tastes, and fashion sense. Men are buying jewellery for themselves as a result of the growing number of male influencers, such as sports, rappers, and actors on Soundcloud, who talk about personal style and emphasise the necessity of accessorising an outfit for self-expression. As a result, it is widely consumed worldwide and brought in a lot of money in 2021.
Throughout the projected period, Asia-Pacific is anticipated to have the largest revenue market share. In terms of revenue, Asia Pacific dominated the demi-fine jewellery market in 2021. In terms of market share in the area in 2021, China was the dominant nation. This is a result of small- and medium-sized jewellers’ significant recent growth on the mainland. Aside from that, demi-fine jewellery firms have been expanding rapidly and entering second- and third-tier cities in a number of nations, including India, Japan, and South Korea. As a result, Asia Pacific produced the most income in 2021. As some of the market participants operate from multiple sites and have a devoted clientele, they are in fierce competition with one another.
Due to a greater demand for inexpensive and elegant jewellery, Europe dominated the global Demi fine jewellery market. Strong internet presence in Europe and rising accessory spending by the populace there to enhance appearance are driving this region’s rise. The enormous population pool in Asia-Pacific is expected to result in a promising growth rate during the predicted period. The young population’s growing demand for inexpensive gifting options is projected to drive market expansion in North America.
|Report Coverage||Revenue estimation and forecast, company profile, competitive landscape, growth factors, and recent trends|
|Regional scope||North America, Europe, Asia Pacific, Middle East & Africa, and Latin America|
|Market Size(unit)||USD Billion|
|Demi Fine Jewelry Market CAGR||14%|
|Segments Covered||By Distribution Channel
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List of the prominent players in the Global Demi Fine Jewelry market:
• Otiumberg Limited
• Missoma Limited
• Edge of Ember
• Astley Clarke Limited
• WWAKE, Inc.
• Loren Stewart
• Monica Vinader Ltd.
• Natasha Schweitzer
• Sarah & Sebastian Pty Ltd
The global Demi Fine Jewelry market is segmented as follows:
By Distribution Channel
• North America
o The U.S.
o The UK
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of Asia Pacific
• The Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of the Middle East & Africa
• Latin America
o Rest of Latin America
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter’s five forces model, attractiveness analysis, product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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