Industry

Jewelry And Silverware Market Report (2024 -2033): Industry Trends, Business Opportunities, International Expansion And Top Major Players | Berkshire Hathaway Inc., Tiffany & Co., Christian Dior SE, Compagnie Financiere Richemont SA, Kering SA.

The Jewelry And Silverware Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2024-2033).

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In accordance with The Business Research Company’s comprehensive analysis in the Jewelry And Silverware Global Market Report 2024, the robust expansion of the jewelry and silverware market has been a noteworthy trend in recent years. This upward trajectory is set to persist, with the market poised to elevate from $231.43 billion in 2024 to an estimated $248.49 billion in the same year, demonstrating a substantial compound annual growth rate (CAGR) of 7.4%. The surge in the historical period is ascribed to diverse factors, including cultural significance, economic prosperity, celebratory occasions, craftsmanship, precious metal prices, and the globalized nature of markets, all intricately interwoven with effective marketing and branding strategies.

Projections for the coming years reveal a continued upswing in the jewelry and silverware market, with an anticipated size of $325.68 billion in 2028, driven by a steady CAGR of 7.0%. This growth in the forecasted period is underpinned by several factors such as the growing adoption of sustainability practices, the pervasive influence of social media, shifting consumer demographics, integration of smart jewelry, the expansive reach of global luxury markets, and the resurgence of vintage and antique styles. Noteworthy trends in the forecast period encompass artisanal and handcrafted jewelry, innovations in design, the emergence of smart jewelry and wearables, and the incorporation of diverse materials and textures in jewelry. A notable shift towards online and direct-to-consumer sales is also anticipated.

The increasing number of weddings is expected to drive the jewelry and silverware market. Bridal jewelry: high expenditures on wedding ceremonies and celebrations generate demand for gold, silver, diamonds, and other jewelry. For example, according to data from a Netherlands-based statistical institution, Statistics Netherlands (CBS), in the first seven months of 2022, in the Netherlands, nearly 40.5 thousand couples got married, which was an increase of nearly 38% from 29.3 thousand in 2021 during the same period. In addition, it was estimated that there were nearly 2.5 million weddings in 2022, which was the highest in the US since 1984, with people spending an average of approximately $24,500 on each wedding. Hence, the increasing number of marriages globally is expected to drive the jewelry and silverware market.

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The jewelry and silverware market covered in this report is segmented –
1) By Type: Jewelry, Silverware
2) By Distribution Channel: Online Stores, Speciality Stores, Hypermarkets, Other Distribution Channels
3) By End-User Sex: Men, Women

Top 5 Major Players:

Leading companies in the jewelry and silverware market are actively engaged in product innovation to augment their offerings and secure a competitive edge. One prominent trend is the introduction of non-bridal fashion jewelry, an expansive category encompassing daily wear accessories such as necklaces, earrings, bracelets, and rings, distinct from those designed for wedding or bridal occasions. Illustratively, Verragio Ltd., a prominent US-based bridal jewelry manufacturer, unveiled a collection of non-bridal jewelry in May 2024. This collection, comprising three distinct lines, seamlessly integrates key design elements from Verragio’s acclaimed bridal collections, showcasing a commitment to innovation and the preservation of design heritage. Noteworthy features include engagement ring halos and the distinctive beading style, with the Veritage collection specifically highlighting essential pieces like diamond pendants and hoops, inspired by Verragio’s rich design legacy. Incorporating elements such as the company crest and signature beading style, these offerings borrow from the excellence of their renowned bridal collections, exemplifying Verragio’s dedication to crafting timeless and exquisite pieces for diverse consumer preferences.

The jewelry and silverware market report table of contents includes:
1. Executive Summary
2. Jewelry And Silverware Market Characteristics
3. Jewelry And Silverware Product/Service Analysis -Product/Service Examples
4. Jewelry And Silverware Market Trends And Strategies
5. Jewelry And Silverware Market – Macro Economic Scenario

…..

68. Global Jewelry And Silverware Market Competitive Benchmarking
69. Global Jewelry And Silverware Market Competitive Dashboard
70. Key Mergers And Acquisitions In The Jewelry And Silverware Market
71. Jewelry And Silverware Market Future Outlook and Potential Analysis
72. Appendix

List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Jewelry And Silverware Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Jewelry And Silverware Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Jewelry And Silverware Market, Segmentation By End-User Sex, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

….

Table 144: Berkshire Hathaway Inc. Financial Performance
Table 145: Tiffany & Co. Financial Performance
Table 146: Christian Dior SE Financial Performance
Table 147: Compagnie Financiere Richemont SA Financial Performance
Table 148: Kering SA Financial Performance

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