Imitation Jewelry Market:
Global Imitation Jewelry Market Size is projected to be valued at USD 22 Billion by 2027 at a CAGR of 6.3% between 2020 and 2027.
Imitation jewelry includes a range of decorative items that are prepared from inexpensive materials. Major consumers prefer imitation jewelry as it cheap as compared to gold and silver jewelry. Imitation jewelry is popular among women, men, corporate employees, and teenagers. Additionally, Europe and Asia Pacific markets are witnessing a high demand for imitation jewelry among consumers. Investments are projected to have a significant impact on the imitation jewelry market size during the forecast period. The imitation jewelry market has registered tremendous growth in the past few years, and the same trend is expected during the forecast period. The key players in the market have been responsive to shifting consumer preferences and are focused on strategic acquisitions, product launches, and partnerships. All the factors are anticipated to create substantial growth opportunities for the global imitation jewelry market.
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The notable players in the market are LOUIS VUITTON (France), Yurman Design, Inc. (US), Billig Jewelers, Inc. (US), Avon Product Inc. (US), Stuller, Inc. (US), BaubleBar Inc. (US), DCK Concessions (UK), Buckley Jewellery Limited (UK), and Gianni Versace S.p.A. (Italy).
In 2019, Europe had the second largest share of the global Imitation Jewelry Market Size is. The United Kingdom, Germany, France, and Spain are among the most important country-level markets. In the production process, counterfeit jewellery makers in Europe are concentrating on classic patterns and neutral colours.
By volume, Asia-Pacific is projected to be the main region. The Asia-Pacific Imitation Jewelry Market Size is projected to rise in response to increasing population in developing countries, as well as an increase in the number of fashion-conscious customers.
By product type, the market is segmented into necklaces and chains, earrings, rings, bracelets, cufflinks and studs, and others. During the forecast period, the necklaces chains segment is expected to rise at the fastest rate. The growth of fashion consciousness among men and women can be due to an increase in demand for necklaces and chains.
By end-user, the market has been segmented into women, men, and unisex. In 2019, the women's segment had the largest market share, and this development is predicted to persist over the prognosis period. Women are pushing the market for fake jewellery that is appropriate for various seasons.
By distributional channel, the market is divided into store-based and non-store-based. During the forecast period, the non-store-based segment is expected to expand at a faster pace. Imitation jewellery makers tend to market their goods through non-store-based distribution networks. As a way of extending their customer presence, companies are moving to online delivery channels.
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