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Global U.S. Costume Jewelry Market Growth Accelerated By Increased Demand For Fashionable And Affordable Jewelry

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Sneha
Global U.S. Costume Jewelry Market Growth Accelerated By Increased Demand For Fashionable And Affordable Jewelry

Costume jewelry refers to fashion jewelry made from less valuable materials than silver and gold, such as zirconium, glass or plastic. It is more affordable and lets fashion-conscious consumers accessorize in styles inspired by fine jewelry trends. The growing popularity of fashion-led lifestyles and desire to stay on top of trends is driving demand for costume jewelry in the U.S.

The global U.S. costume jewelry market is estimated to be valued at US$ 18.13 billion in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends: Increased demand for costume jewelry has been accelerated by the growth of fast fashion retailers and inspiration from celebrity styles on social media platforms. Consumers like to refresh their wardrobes frequently and remain up to date with the latest jewelry trends seen on influencers and celebrities. This has popularized costume jewelry as a cost-effective way to incorporate new styles. Fast fashion retailers and affordable luxury jewelry brands cater to this need by regularly releasing new collections of fashion jewelry at affordable prices.

Segment Analysis

The U.S. costume jewelry market is dominated by the fashion jewelry sub-segment. This is because fashion jewelry items such as various types of bracelets, necklaces, earrings are in high demand among young consumers who prefer lightweight, trendy and affordable jewelry items as per changing fashion trends. Fashion jewelry offers wide options in terms of designs, colors and materials within affordable prices which attracts young population the most.

Key Takeaways

The Global U.S. Costume Jewelry Market Demand is expected to witness high growth during the forecast period of 2023 to 2030. The global U.S. costume jewelry market is estimated to be valued at US$ 18.13 billion in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023 to 2030.

Regional analysis: The Western region dominates the U.S. costume jewelry market with the highest market share. This is due to high per capita income and spending on personal accessories and fashion items in states like California, Washington. Moreover, rising trend of statement fashion jewelry driven by influencers and celebrities further boosts the market growth in this region.

Key players: Key players operating in the U.S. costume jewelry market are Coty UK, Procter & Gamble Prestige Beaute, L’Oreal, LVMH, Givaudan, International Flavors & Fragrances, Estee Lauder Beautiful, Kilian, Firmenich, Symrise. These major players are focusing on product innovation and expansion of their existing product portfolios to strengthen their market presence.

Explore more information on this topic, Please visit -

https://www.insightprobing.com/u-s-costume-jewelry-market-share-and-demand-analysis/

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