Gemstones such as Lucite and rhinestone are also included. When it comes to matching jewelry pieces for different events and outfits, the cost of buying gemstones, diamonds, and solid gold is prohibitively expensive, therefore customers are turning to fake jewelry to find a compromise between looking fashionable and staying within their budgets. In addition, rising trend awareness and increased acceptance of jewelry such as necklaces, rings, and bracelets among female consumers are propelling the imitation jewelry industry forward. Furthermore, the expansion of the imitation jewelry market is fueled by changes in jewelry packaging patterns. Imitation jewelry is a copy of beautiful jewelry that costs a fraction of the price. Due to rising demand, the imitation jewelry industry is expected to rise at a rapid pace throughout the forecast period.
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Top Impacting Factors
Globalization of brands, rising prices of gold and other costly stones and pearls, and increased demand for male costume jewelry are the key drivers of growth for the imitation jewelry market.
Rising raw material costs and the general subtle market of fashion jewelry are two of the biggest issues facing the imitation jewelry industry. The industry's fragmented supply chain for raw materials used in costume jewelry is also a key constraint, as it sometimes raises raw material prices.
The market's growth is being influenced by rapidly changing fashion trends. In the next years, however, rising fashion consciousness among teenagers and low-cost stylish jewelry are expected to improve the entire market.
Furthermore, quality tests of raw materials from local vendors take a long time, delaying delivery to the market. Despite the fact that there are strict regulations (especially in Western countries) regarding the type of metals used in jewelry, some cases have been reported in which a high percentage of hazardous chemicals, such as lead, chromium, and nickel, have been used.
Market Trends
3D printing's adoption in the imitation jewelry market is growing
- 3D printing's applications are rapidly developing in a variety of industries, including consumer goods. 3D printing is also gaining traction in the production of replica jewelry models, as the technology allows for the production of bespoke jewelry at a reduced cost. Despite the fact that print quality and jewelry size have a significant impact on printing speed, most 3D printers offer rapid printing options to satisfy changing consumer needs. 40-50 mm/s, 50-100 mm/s, and 100-150 mm/s are the most frequent printing rates in 3D printers. Thermoplastics and polyethylene terephthalate are common filaments used in 3D printing technologies for imitation jewelry (PET). As a result of its growing popularity, 3D printing has been highlighted as an emerging trend in the jewelry industry that will gain traction over the projected period.
Innovations in jewelry design
- Men are beginning to wear jewelry as well, as it gives them a fashionable appearance. Bracelets made of leather, cotton, beads, and plastic, as well as other rugged jewelry with hefty designs yet simple to carry, are popular among men of all generations. Earrings for males are more popular in cities than in rural regions, possibly due to the social stigma associated with them. The demand for such forms of fashion jewelry has risen in recent decades as a result of several changes in clothing and the way people dress.
- Long drop earrings, danglers, studs, tassels, Jhumkas, Crystal, Kundan earrings are few examples. Cocktails are well-known and popular among women of all ages. Plastic earrings are also popular because of their light weight and unique prints, which make them fashionable to wear. Earring produced by hand are also very popular these days. This market is expected to expand and thrive in the near future due to rising consumer fashion trends and the possibility to fulfil these fashion demands through imitation jewelry.
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Key Benefits of the Report
- This study presents the analytical depiction of the imitation jewelry industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the imitation jewelry market share.
- The current market is quantitatively analyzed to highlight the imitation jewelry market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed imitation jewelry market analysis based on competitive intensity and how the competition will take shape in coming years
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