Jewelry
Manufacturing Market: Overview
The demand for
jewelry is mainly dependent on the disposable income of consumers and
the price of gold and silver. Individual companies generate revenues
through cost control and efficient operations. Small companies,
however, can compete by offering unique product lines. Large
companies have an advantage of offering a broader product line which
caters to the needs of the consumers changing demands. In addition,
efficient distribution operations and efficient production are the
keys to their profitability.
The Jewelry
Manufacturing Market is segmented
on the basis of product types such as gold, platinum, necklaces,
earrings, bracelets and brooches among others. Other products include
pearls, stones and silver jewelry. Gold and platinum jewelry accounts
for the largest market share.
Jewelry
Manufacturing Market: Key Growth Enablers
The major factor
driving the jewelry manufacturing market is the increasing demand for
jewelry products from consumers across different age groups. Female
consumers, especially the younger consumers, are driving the demand
for jewelry manufacturing. Steady increase in the disposable income
of consumers globally is another factor fuelling the growth for the
jewelry manufacturing market.
Growth of branded
jewelry is also another factor which is fuelling the jewelry
manufacturing market globally. Consumers regard branded jewelry as a
sign of affluence, lending it an aspirational value. The young
consumers wear branded jewelry for self realization and self
expression. In addition, brand loyalty of the consumers is another
factor which is driving the jewelry manufacturing market globally.
Moreover, the broad portfolio of jewelry products is another major
factor which is driving the jewelry manufacturing market.
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Dollar strength is
the major factor behind the rise in the prices of gold and silver.
When dollar weakens, investors from around the world begin to sell
the currency and buy gold in exchange for security purposes. Owing to
this factor, the demand for gold increases which results in increase
in the price of gold. This factor poses to be a huge restraint in the
jewelry manufacturing market. In addition, poor economic condition is
another factor acting as a hindrance to the global jewelry
manufacturing market. Weak economic conditions force the investors to
put their money on gold, due to which the price for gold goes up.
Jewelry
Manufacturing Market: Region-wise Insight
Geographically, the
jewelry manufacturing market is segmented into four broad regions
such as North America, Europe, Asia Pacific and Rest of the World
(RoW). North America holds the largest market share in the jewelry
manufacturing industry. The jewelry manufacturing market in the U.S.
in fragmented. U.S. alone accounts for almost 70% of the industry
revenue.
Asia Pacific is the
second-largest market for jewelry manufacturing owing to the high
population and the increasing disposable income of the consumers.
Europe is the third largest market for jewelry because of the low
population.
Jewelry
Manufacturing Market: Key Players
Richline Group,
Tiffany, James Avery Craftsman, Cartier, Bulgari, Gitanjali Gems, D
Swarovski & Co., Pandora and Kingold Jewelry are some of the
major players competing in the jewelry manufacturing market. These
companies manufacture jewelry, and other items which include,
cigarette cases made from precious metals, precious gemstones,
compacts, gemstones and other materials.
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