The global Gems and Jewelry industry to grow at a CAGR of 6.25% during the period 2017-2021.
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The global Gems and Jewelry market research report identifies the following companies are the key players: Chow Tai Fook Jewellery, LVMH, Rajesh Exports, Richemont, and Signet Jewelers.
Other Prominent Vendors in the market are: AURUM, Emperor Watch & Jewelry, Gitanjali Group, KALYAN JEWELLERS, Kering, Malabar Gold & Diamonds, PC Jeweller, TIFFANY & CO., and Titan.
Complete report on the Gems and Jewelry Market Research Report spread across 89 pages, profiling 15 companies with table of content is now available at www.reportsnreports.com/contacts/discount.aspx?name=1097624 .
Gems and Jewelry Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts.
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The report also includes a discussion of the Key vendors operating in this market.
The latest trend gaining momentum in the market is growing urbanization leading to evolution in consumer demand. The rise in the rate of urbanization plays an important role in the market growth of countries with large jewelry markets.
With more number of people becoming urbane, their tastes and preferences are undergoing changes. This is because people in cities are influenced by global styles and adapt to new lifestyles.
These changes in lifestyle and preferences have impacted the global gems and jewelry market. Urbanization has resulted in the economic growth of many countries.
According to the report, one of the major drivers for this market is economic growth in major jewelry markets, expanding middle class population, and inflationary pressures. The demand for gold jewelry increases with the rise in income levels.
Countries like China and India are the major consumers of gold jewelry, thereby dominating both markets. The increase in demand for gold jewelry in these major markets is due to certain factors.
These are economic growth, rising middle-class population base, and increased aspiration of purchasing gold jewelry among the middle-class population base. The increase in income levels has boosted the demand for gold in these markets.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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Further, the report states that one of the major factors hindering the growth of this market is growing preference for designer, luxury fashion, and smartphones in urban areas. Consumers of urban areas have high disposable incomes.
However, the purchase of jewelry is a rare occasion. This is because consumers prefer to buy luxury, designer, and fashionable wearables such as designer apparels and luxury watches.
This is a major challenge that the global gems and jewelry market faces that can drop the volumes sales of jewelry during the forecast period. Smartphones are the other substitutes of jewelry.
The demand for smartphones can alter the growth in demand for jewelry. Young urban customers are tempted to buy luxury fashion items and smartphones instead of gold jewelry or any other jewelry.
Therefore, the growing preference of these substitutes in urban areas among people serves as major challenges for the global gems and jewelry market.
The report covers the present scenario and the growth prospects of the global gems and jewelry market for 2017-2021. To calculate the market size, the report considers the value sales of the jewelry products..
Key questions answered in this report
What will the market size be in 2021 and what will the growth rate be?
What are the key market trends?
What is driving this industry?
What are the challenges to market growth?
Who are the key vendors in this industry space?
What are the market opportunities and threats faced by the key vendors?
What are the strengths and weaknesses of the key vendors?
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