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Handmade Jewelry Market to Reach $472.5 Billion Globally by 2032 at 11.9% CAGR: Allied Market Research
The rising awareness about the unique appeal and personalization of handmade jewelry, coupled with increasing disposable incomes of people worldwide, is driving the market's growth. Moreover, the increasing awareness of environmental conservation plays a significant role in driving the expansion of the handmade jewelry market. However, the increasing accessibility challenges and higher costs compared to mass-produced alternatives are restraining the market's growth during the forecast period. On the other hand, the rising consumer demand for ethically crafted and environmentally sustainable handmade jewelry is expected to unlock rewarding growth opportunities in the global handmade jewelry market.
An increase in demand for unique jewelry types
Growing proliferation of online platforms
Rise in the number of artisan workshops
The gold sub-segment dominated the market in 2022, holding a major share of 41.3%. This sub-segment is also expected to grow at the highest CAGR of CAGR of 12.5% during the forecast period. This growth is mainly due to gold's enduring value, symbolic significance, and unique properties, making it a preferred material for crafting handmade jewelry across diverse global markets. In addition, factors such as gold's rarity and association with cultural heritage, especially evident in countries like India , are expected to further fuel its market growth during the forecast period.
The beaded jewelry sub-segment led the market in 2022, holding a substantial share of 27.1%. This sub-segment is expected to hold a leading market share of 28.9% by 2032. The growth of the sub-segment is mainly because of beaded jewelry's timeless allure and versatility across various materials including silver, gold, and other metals. Moreover, the unique appeal of handmade pieces reflects individual craftsmanship and creativity, which contributes to its market growth.
The offline sub-segment dominated the global handmade jewelry market share in 2022, holding a major share of 67.3% and is expected to hold a leading market share by 2032. This growth is mainly due to the preference of many individuals for offline shopping experiences, especially for significant investments like bridal jewelry. Face-to-face interactions with knowledgeable sales staff instill trust and confidence among customers. This personalized assistance allows them to inspect the jewelry firsthand, making well-informed decisions.
The Asia-Pacific region dominated the global handmade jewelry market in 2022, holding a major share of 57.6% and is expected to grow with a CAGR of 12.4% during the forecast period. This is mainly due to the region's deeply ingrained cultural significance, where jewelry symbolizes tradition and heritage, particularly in countries like India . Moreover, the region's increasing awareness of sustainability and ethical sourcing drove the demand for handmade jewelry, aligning with consumers' preferences for environmentally friendly and socially responsible products.
The report provides a detailed analysis of the key players of the global handmade jewelry market. These players have adopted different strategies, such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain their dominance in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Wilmington, Delaware . Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar , the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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