Global Jewelry And Silverware Market Trends And Strategies Of Major Players In The Jewelry And Silverware Market 2021-2030
21 Jan, 2021
The jewelry and silverware market consists of sales of jewelry and silverware by entities (organizations, sole traders and partnerships) that produce engrave, chase or etch jewelry, novelties or precious metal flatware; stamp coins; cut, slab, tumble, carve, engrave, polish or facet or recut, repolish or reset precious or semiprecious stones. The jewelry and silverware market is segmented into jewelry and silverware.
Global Jewelry And Silverware Market Size And Drivers:
The global jewelry and silverware market is expected to grow from $190.09 billion in 2020 to $200.72 billion in 2021 at a compound annual growth rate (CAGR) of 5.6%. The market is expected to reach $257.01 billion in 2025 at a CAGR of 6%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges.
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Trends In The Global Jewelry And Silverware Market
Jewelry and silverware manufacturers have adopted CAD software due to its finest measurement providing capability. CAD or computer aided design software is used by engineers and architects for creating accurate drawings of objects. Using CAD in jewelry making has enabled the manufacturers to easily customize the jewelries with high precision according as per customer requirements. It helps in lowering the manufacturing cost by creating a virtual model and replicating it during manufacturing.
Global Jewelry And Silverware Market Segments:
The global jewelry and silverware market is further segmented based on type, by distribution channel and geography.
By Type: Jewelry, Silverware
By Distribution Channel: Online Stores, Specialty Stores, Hypermarkets, Others
By Geography: The global jewelry and silverware market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Among these regions, the Asia Pacific was the largest region in the global jewelry and silverware market, accounting for 45% of the total market.
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Jewelry And Silverware Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides jewelry and silverware market overviews, analyzes and forecasts market size and growth for the global jewelry and silverware market, jewelry and silverware market share, jewelry and silverware market players, jewelry and silverware market segments and geographies, jewelry and silverware market’s leading competitors’ revenues, profiles and market shares. The jewelry and silverware market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.