(MENAFN- EIN Presswire) Diamond jewellery market-PMI
The report " Global Diamond Jewelry Market, By Product Type, By Sales Channel , and Region - Global Forecast to 2029"
COVINA, CALIFORNIA, UNITED STATES, March 23, 2023 /einpresswire.com / --
The diamond jewellery market is a large and growing industry that encompasses a wide range of products, including engagement rings, wedding bands, earrings, necklaces, bracelets, and watches. Diamonds are one of the most popular precious stones used in jewelry, and the demand for diamond jewelry is driven by a variety of factors.
One of the primary factors driving the demand for diamond jewelry is personal occasions, such as weddings, anniversaries, and birthdays. Diamonds are often associated with love and romance, and are a popular choice for engagement rings and wedding bands. In addition, cultural and social customs can also drive demand for diamond jewelry, particularly in certain regions of the world.
The demand for diamond jewelry is also driven by fashion trends, with certain styles and designs becoming more popular at different times. The reputation and brand of the manufacturer or seller can also impact demand, as consumers may prefer to purchase diamond jewelry from a well-known and trusted brand.
The report " Global Diamond Jewelry Market, By Product Type (Rings, Necklaces, Earrings, Pendants, and Bangles), By Sales Channel (Speciality Stores, Discounters, Online Retailers, Department Stores, and Others (Catalogues and TV commercials)), and Region - Global Forecast to 2029"
Diamond jewelry market is projected to grow from US$ 340.69 billion in 2022 to US$ US$ 568.8 Billion 2032 .Global diamond jewelry market is majorly driven by the factor of diamonds being highly valuable in terms of jewelry among people. In addition, diamonds carry a significant emotional value among people lasting through multiple generation which has upsurge the target market growth. Furthermore, high demand for diamonds in industries as they are effective at polishing, cutting, and drilling are fuelling the target market growth. However, diamonds are rare and expensive which is hampering the target market growth.
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Key Market Insights from the report:
The global diamond Jewelry market accounted for US$ 568.8 billion in 2032 and is projected to register a moderate CAGR of 5.0% over the forecast period. The market report has been segmented on the basis of product type, sales channel, and region.
.By Product Type (Rings, Necklaces, Earrings, Pendants, and Bangles.
.By Sales Channel (Speciality Stores, Discounters, Online Retailers, Department Stores, and Others (Catalogues and TV commercials)
.By region, North America is expected to be the leading target market followed by Asia-Pacific.United States being the major global diamond Jewelry market has augmented the target market growth in North America. Also, high demand for diamonds in industries is majorly boosting the target market in the region. Asia-Pacific is expected to be the second dominating target market due to the presence of major diamond markets in the region. China has majorly upsurge the target market in Asia-Pacific.
The prominent player operating in the global diamond Jewelry market includes A & D Gem Corporation, Arihant Jewellers Pvt. Ltd., B. Vijaykumar & Co., Blue Nile, Inc., Buccellati Holding SpA, Chanel SA, Dora Industries, Inc., Gemco Designs, Inc., Graff Diamonds Corporation, and J.B. & Brothers Pvt. Ltd.
Some frequently asked questions about the diamond jewelry market:
What is the diamond jewelry market?
The diamond jewelry market is the market for jewelry that includes diamonds, which are one of the most popular precious stones used in jewelry. The market includes a wide range of products, including engagement rings, wedding bands, earrings, necklaces, bracelets, and watches.
What factors drive the demand for diamond jewelry?
The demand for diamond jewelry is driven by several factors, including personal occasions such as weddings, anniversaries, and birthdays, as well as cultural and social customs. The demand is also driven by fashion trends, the reputation and brand of the manufacturer or seller, and the perceived value of diamonds as a symbol of luxury and status.
What are the different types of diamond jewelry?
There are many different types of diamond jewelry, including engagement rings, wedding bands, earrings, necklaces, bracelets, and watches. Diamond jewelry can be made from a variety of materials, including gold, silver, platinum, and other metals.
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