The global costume jewelry products market was valued at USD 12.7 billion in 2022 and is projected to expand at a CAGR of 4.8% from 2023 to 2030. The growing per capita income, rising fashion consciousness, and the availability of a wide range of costume jewelry products in the market are the major factors driving the growth of the market. Consumers are increasingly focusing on fashion and style, which is propelling the demand for costume jewelry products. Furthermore, the growing demand for affordable jewelry, which is in trend, is also driving the sales of costume jewelry products.

The rising demand for customized jewelry is expected to support the growth of the costume jewelry products market. The growing trend of personalization has led to the emergence of various online jewelry stores, offering customized jewelry. For instance, in October 2021, Etsy, an online store, launched a new jewelry collection with customizable options to select from. Furthermore, the increasing demand for sustainable jewelry is also driving the growth of the market. Consumers are increasingly opting for sustainable jewelry due to rising environmental concerns. Furthermore, the growing number of online stores, offering a wide variety of costume jewelry products, is also driving the market.

In addition, the increasing population of working women is driving the market demand. The working class women are increasingly looking for fashionable jewelry for their workplace. This is leading to the rising demand for costume jewelry products, as they are affordable in comparison to fine jewelry. Moreover, the growing popularity of fashion jewelry is also contributing to the growth of the market. Fashion jewelry is highly popular among young generations and is available in various designs, which is attracting more customers.

Furthermore, the increasing number of fashion shows, retail stores, and e-commerce platforms are also contributing to the growth of the market. The growing number of fashion shows and retail stores is providing a platform for the upcoming designers, who are offering unique designs. Additionally, the increasing number of e-commerce platforms, such as Amazon and Flipkart, is providing an opportunity for the manufacturers to showcase their products to a wide audience. Furthermore, the availability of various promotional offers, such as discounts and coupons, is also driving the market demand.

The costume necklaces segment led the market and accounted for a share of around 33.3% in 2022. Increasing demand for fashion accessories and rising disposable income among consumers are some of the key factors driving the growth of the costume jewelry market. According to an article published by Statista, in April 2020, the global costume jewelry market was valued at more than US$7.2 billion in 2018 and is expected to reach US$9.6 billion by 2023. Moreover, rising awareness about fashion and beauty trends among individuals is also driving the demand for fashion jewelry globally.

The earrings segment is anticipated to expand at the fastest CAGR of 8.8% over the forecast period. Growing popularity of ear studs and ear cuffs among the younger generation, rising demand for handcrafted jewelry, and increasing fashion trends among individuals are some of the key factors driving the growth of the earrings market. According to an article published by the University of North Texas, in October 2019, more than 90% of women wear earrings. Furthermore, easy availability of earrings in the market is also propelling the market growth.

The department stores segment is anticipated to dominate the market over the forecast period. Department stores have been the traditional choice for customers to buy costume jewelry products. The growth of the segment is mainly due to the availability of a wide range of costume jewelry items under one roof. These stores also provide convenient shopping experiences to customers and offer various discounts and promotional offers to draw consumers.

The online segment is anticipated to expand at the highest CAGR of 8.2% over the forecast period. The rise in internet penetration and availability of various online platforms have been instrumental in driving the growth of this segment. Moreover, customers are increasingly opting for e-commerce platforms to avail discounts and cashback offers, which has increased the demand for costume jewelry products online. In addition, the availability of a wide range of product options, easy product comparison, and availability of reviews and ratings of products on the websites have also contributed to the segment’s growth.

The fashion segment held the largest market share of 65.2% in the year 2022. The increasing trend of costume jewelry in the fashion industry is propelling the industry. The evolving fashion trends such as minimalism and statement pieces is driving the demand for costume jewelry. Moreover, the increasing trend of online shopping and the presence of e-commerce platforms such as Amazon, eBay, and Etsy have made it easier for customers to purchase costume jewelry. Additionally, the demand for handmade costume jewelry is increasing due to the rising trend of DIY jewelry.

The classic segment is expected to register the highest CAGR of 7.3% during the forecast period. The increasing trend of antique jewelry and classic pieces among young people is a major factor driving the growth of the classic segment. Also, the availability of classic jewelry in different colors, designs, and styles is likely to drive the segment. Furthermore, the rising trend of gifting classic jewelry items is likely to have a positive impact on the segment growth.

Europe is expected to hold the largest revenue share of the costume jewelry market owing to the presence of several renowned luxury jewelry brands in the region. The surge in demand for costume jewelry has been observed due to the increasing trend of wearing costume jewelry for special occasions. For instance, in June 2021, a prominent fashion brand in France, Ines de la Fressange, collaborated with the jewelry brand Swarovski to launch a collection of costume jewelry.

North America is expected to witness significant growth in the coming years due to an increase in the purchasing power of consumers and a rising trend of wearing costume jewelry as a fashion statement. The U.S. is the largest market for costume jewelry in the region, and the presence of major fashion brands is expected to drive the growth of the market. For instance, in August 2021, the prominent clothing and jewelry brand Free People launched a costume jewelry collection.

In this part of the costume jewelry products business plan, we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your costume jewelry products business. Usually, these projections are drafted for a 5-year period.

Revenue Assumptions
The main sources of revenue for a costume jewelry products business come from selling jewelry items such as earrings, bracelets, necklaces, rings and other related accessories. Other sources of income can include sales from pop-up stores, wholesale accounts, and online sales.

Projecting Expenses
In this section, all the regular expenses related to keeping the costume jewelry products business running will be described. The list of operating expenses includes materials and supplies, sales and marketing, rent, wages, insurance policies, advertising, and others.

Some of the key companies operating in the costume jewelry market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:

– In June 2022, Swarovski launched a new collection of costume jewelry pieces made from Swarovski crystals and other precious metals.

– In August 2022, Pandora launched the Pandora Lockets range of costume jewelry pieces made from sterling silver and other premium materials.

– In October 2022, Kenneth Cole New York launched a new range of costume jewelry pieces made from high-quality materials.

Some of the prominent players in the costume jewelry market include:

– Swarovski
– Pandora
– Kenneth Cole New York
– Fossil
– Tiffany & Co.
– Chanel
– Cartier
– Coach
– Michael Kors
– Kate Spade

This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global Costume Jewelry products market based on product, distribution channel, type, and region:

1. Product Outlook (Revenue, USD Million, 2017 – 2030)

– Necklaces
– Earrings
– Rings
– Bracelets
– Hair Accessories
– Brooches & Pins

2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)

– Supermarkets & Hypermarkets
– Specialty Stores
– Online
– Others

3. Type Outlook (Revenue, USD Million, 2017 – 2030)

– Fashion
– Fine

4. Regional Outlook (Revenue, USD Million, 2017 – 2030)

– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa

[Q]: What is the Potential of Product Innovation in the Costume Jewelry Market?
[A]: With the growing demand for costume jewelry products, product innovation is key to ensure that manufacturers are able to meet customer needs. Product innovations, such as new designs and materials, are expected to drive the growth of the costume jewelry market. Additionally, manufacturers are focusing on product customization options such as custom sizes, colors, and shapes, as well as customization of materials and finishes, to cater to the demands in the market.

[Q]: Who are the Key Players in the Costume Jewelry Market?
[A]: Major companies in the costume jewelry market include Swarovski, Richline Group, J. C. Penney, Signet Jewelers, Walmart, and Macy’s.

[Q]: Which Region Offers the Largest Opportunity for Sales of Costume Jewelry Products?
[A]: Asia Pacific is expected to offer the most lucrative opportunity for sales of costume jewelry products, with an absolute dollar opportunity of $14.6 B (USD).

[Q]: What are the factors driving the costume jewelry market?
[A]: Factors such as the increasing demand for affordable and stylish jewelry, the growing popularity of costume jewelry as a fashion statement, and the increasing penetration of e-commerce are expected to drive the growth of the costume jewelry market. Additionally, the increasing demand for sustainable and eco-friendly costume jewelry is also expected to contribute to market growth.