NEW YORK, Oct. 26, 2023 /PRNewswire/ — The jewelry market in India is set to grow by USD 21.54 billion between 2022 and 2027 and register a CAGR of 5.54%, according to Technavio’s latest market research report estimates. With a focus on identifying dominant industry influencers, Technavio’s reports present a detailed study by way of synthesis, and summation of data from multiple sources. This report offers an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment. View Sample Report
Technavio has announced its latest market research report titled Jewelry Market in India 2023-2027
Factors such as the cultural significance of jewelry, rising disposable income, and technological advancements will offer immense growth opportunities. To leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments, while maintaining their positions in the slow-growing segments. The jewelry market in India is fragmented, and the degree of fragmentation will accelerate during the forecast period.
Jewelry Market in India 2023-2027: Segmentation
Type
Gold
Diamond
Others
Distribution Channel
Specialist Retailers
Online
The market growth in the gold segment will be significant during the forecast period. The rising income levels of consumers have increased the demand for gold jewelry in India. Despite the development of alternative materials and designs, gold jewelry is still worn on special occasions and is a preferred investment option in India. As a result of these factors, the segment will witness maximum growth over the forecast period.
The report comprises of various segments as well as analysis of the trends and factors that are playing a substantial role in the market, download a sample report
Jewelry Market in India 2023-2027: Vendor Analysis and Scope
The jewelry market in India is fragmented. The market comprises several international and regional vendors that have a wide geographical reach, market penetration, end-user segments, and product segments. International players are consistently focused on expanding their footprint in the market. Thus, regional players are finding it increasingly difficult to compete with larger players based on quality, pricing, market reach, and financial resources. The competitive environment in this market will intensify further with an increase in product/service extensions and product innovations. Some of the key vendors covered in the report include:
ALANKEET CREATIONS LLP – The company offers jewelry such as necklaces, earrings, and rings.
Bhima And Bullion Pvt. Ltd. – The company offers jewelry such as gold, diamond, and silver.
Derewala Industries Ltd. – The company offers jewelry such as gold and silver.
Hari Krishna Exports Pvt. Ltd. – The company offers jewelry under the brand Kisna real diamond and gold jewels.
Dwarka Jewel
DWS Jewellery Pvt. Ltd.
Gurukrupa Gems
Joyalukkas India Ltd.
Kalyan Jewellers India Ltd.
Kanhai Jewels
Malabar Gold and Diamonds
Nsb Jewellery
PC Jeweller Ltd.
Rajesh Exports Ltd.
Titan Co. Ltd.
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The report also covers the following areas:
Jewelry Market in India 2023-2027: Key Highlights
Driver – The market is driven by the cultural significance of jewelry. India is the second largest importer of gold globally. Jewelry made of gold is considered a symbol of prosperity and wealth in India. This has increased its cultural significance, especially during events and celebrations such as marriages, festivals, and various other auspicious occasions. The Indian wedding industry is worth USD 50 billion, with jewelry making up an important percentage of this total value. In addition, festivals such as Diwali, Dussehra, and Akshaya Tritiya are regarded as auspicious occasions to buy gold, which leads to a surge in demand as well as the prices of gold during such events. Many such factors are leading to a continuous demand for jewelry in India, thereby driving market growth.
Trend – The rise in online sales is identified as the key trend in the market. Factors such as convenience and the ability to choose from a wide selection of merchandise have increased consumer inclination toward online shopping. This has encouraged vendors operating in the market to take their business online and drive more sales. In addition, the competitive pricing provided on jewelry on e-commerce platforms enable customers to compare prices and make wise decisions. This is leading to increased sales of jewelry online in the market. For instance, Tanishq, one of the leading jewelry brands in India, reported a 106% increase in online sales in 2020. The online channel represented 13% of the overall sales of the company in 2020. This trend is expected to positively influence the market growth over the forecast period.
Challenge – The high price of gold is challenging the growth of the market. Gold is an important component of Indian Jewelry. However, the sales of gold jewelry are declining as a result of the difficulty faced by jewelers in maintaining competitive pricing caused by continuous fluctuations in prices. In addition, the high cost of gold has changed the buying habits of customers. They are increasing their preference for lightweight and more reasonably priced jewelry, which is affecting the sales of conventional gold jewelry. Such challenges reduce the growth potential of the market during the forecast period.
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Jewelry Market in India 2023-2027: Key Highlights
CAGR of the market during the forecast period 2023-2027
Detailed information on factors that will assist jewelry market growth in India during the next five years
Estimation of the jewelry market size in India and its contribution to the parent market
Predictions on upcoming trends and changes in consumer behavior
The growth of the jewelry market in India
Analysis of the market’s competitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of jewelry market vendors in India
Related Reports:
The India costume jewelry market is estimated to grow at a CAGR of 8.64% between 2022 and 2027. The market size is forecast to increase by USD 639.32 million. The market is segmented by product (necklaces and chains, earrings, rings, bracelets, and others), and distribution channel (offline and online).
The online jewelry market size is estimated to grow at a CAGR of 15.55% between 2022 and 2027. The size of the market is forecast to increase by USD 36.23 billion. The market is segmented by type (fine jewelry and fashion jewelry), product type (rings, earrings, necklaces, bangles, and others), and geography (North America, Europe, APAC, Middle East and Africa, and South America).
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Jewelry Market in India: Scope |
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Report Coverage |
Details |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.54% |
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Market growth 2023-2027 |
USD 21.54 billion |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
5.5 |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
ALANKEET CREATIONS LLP, Bhima And Bullion Pvt. Ltd., Derewala Industries Ltd., Dwarka Jewel, DWS Jewellery Pvt. Ltd., Essentials Jewelry, Gurukrupa Gems, Hari Krishna Exports Pvt. Ltd., Joyalukkas India Ltd., Kalyan Jewellers India Ltd., Kanhai Jewels, Malabar Gold and Diamonds, Nsb Jewellery, PC Jeweller Ltd., Rajesh Exports Ltd., Titan Co. Ltd., Tribhovandas Bhimji Zaveri Ltd., Vaibhav Ltd., Vivah Creation, and Padmavati Jewellery |
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Market dynamics |
Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Browse through Technavio’s Consumer Discretionary Market Reports
Table of contents:
1 Executive Summary
1.1 Market overview
Exhibit 01: Executive Summary – Chart on Market Overview
Exhibit 02: Executive Summary – Data Table on Market Overview
Exhibit 03: Executive Summary – Chart on Country Market Characteristics
Exhibit 04: Executive Summary – Chart on Market Segmentation by Type
Exhibit 05: Executive Summary – Chart on Market Segmentation by Distribution Channel
Exhibit 06: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
2.1 Market ecosystem
Exhibit 07: Parent market
Exhibit 08: Market Characteristics
3 Market Sizing
3.1 Market definition
Exhibit 09: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 10: Market segments
3.3 Market size 2022
3.4 Market outlook: Forecast for 2022-2027
Exhibit 11: Chart on India – Market size and forecast 2022-2027 (USD billion)
Exhibit 12: Data Table on India – Market size and forecast 2022-2027 (USD billion)
Exhibit 13: Chart on India: Year-over-year growth 2022-2027 (%)
Exhibit 14: Data Table on India: Year-over-year growth 2022-2027 (%)
4 Historic Market Size
4.1 Jewelry market in India 2017 – 2021
Exhibit 15: Historic Market Size – Data Table on Jewelry market in India 2017 – 2021 (USD billion)
4.2 Type Segment Analysis 2017 – 2021
Exhibit 16: Historic Market Size – Type Segment 2017 – 2021 (USD billion)
4.3 Distribution Channel Segment Analysis 2017 – 2021
Exhibit 17: Historic Market Size – Distribution Channel Segment 2017 – 2021 (USD billion)
5 Five Forces Analysis
5.1 Five forces summary
Exhibit 18: Five forces analysis – Comparison between 2022 and 2027
5.2 Bargaining power of buyers
Exhibit 19: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
5.3 Bargaining power of suppliers
Exhibit 20: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
5.4 Threat of new entrants
Exhibit 21: Threat of new entrants – Impact of key factors in 2022 and 2027
5.5 Threat of substitutes
Exhibit 22: Threat of substitutes – Impact of key factors in 2022 and 2027
5.6 Threat of rivalry
Exhibit 23: Threat of rivalry – Impact of key factors in 2022 and 2027
5.7 Market condition
Exhibit 24: Chart on Market condition – Five forces 2022 and 2027
6 Market Segmentation by Type
6.1 Market segments
Exhibit 25: Chart on Type – Market share 2022-2027 (%)
Exhibit 26: Data Table on Type – Market share 2022-2027 (%)
6.2 Comparison by Type
Exhibit 27: Chart on Comparison by Type
Exhibit 28: Data Table on Comparison by Type
6.3 Gold – Market size and forecast 2022-2027
Exhibit 29: Chart on Gold – Market size and forecast 2022-2027 (USD billion)
Exhibit 30: Data Table on Gold – Market size and forecast 2022-2027 (USD billion)
Exhibit 31: Chart on Gold – Year-over-year growth 2022-2027 (%)
Exhibit 32: Data Table on Gold – Year-over-year growth 2022-2027 (%)
6.4 Diamond – Market size and forecast 2022-2027
Exhibit 33: Chart on Diamond – Market size and forecast 2022-2027 (USD billion)
Exhibit 34: Data Table on Diamond – Market size and forecast 2022-2027 (USD billion)
Exhibit 35: Chart on Diamond – Year-over-year growth 2022-2027 (%)
Exhibit 36: Data Table on Diamond – Year-over-year growth 2022-2027 (%)
6.5 Others – Market size and forecast 2022-2027
Exhibit 37: Chart on Others – Market size and forecast 2022-2027 (USD billion)
Exhibit 38: Data Table on Others – Market size and forecast 2022-2027 (USD billion)
Exhibit 39: Chart on Others – Year-over-year growth 2022-2027 (%)
Exhibit 40: Data Table on Others – Year-over-year growth 2022-2027 (%)
6.6 Market opportunity by Type
Exhibit 41: Market opportunity by Type (USD billion)
Exhibit 42: Data Table on Market opportunity by Type (USD billion)
7 Market Segmentation by Distribution Channel
7.1 Market segments
Exhibit 43: Chart on Distribution Channel – Market share 2022-2027 (%)
Exhibit 44: Data Table on Distribution Channel – Market share 2022-2027 (%)
7.2 Comparison by Distribution Channel
Exhibit 45: Chart on Comparison by Distribution Channel
Exhibit 46: Data Table on Comparison by Distribution Channel
7.3 Specialist retailers – Market size and forecast 2022-2027
Exhibit 47: Chart on Specialist retailers – Market size and forecast 2022-2027 (USD billion)
Exhibit 48: Data Table on Specialist retailers – Market size and forecast 2022-2027 (USD billion)
Exhibit 49: Chart on Specialist retailers – Year-over-year growth 2022-2027 (%)
Exhibit 50: Data Table on Specialist retailers – Year-over-year growth 2022-2027 (%)
7.4 Online – Market size and forecast 2022-2027
Exhibit 51: Chart on Online – Market size and forecast 2022-2027 (USD billion)
Exhibit 52: Data Table on Online – Market size and forecast 2022-2027 (USD billion)
Exhibit 53: Chart on Online – Year-over-year growth 2022-2027 (%)
Exhibit 54: Data Table on Online – Year-over-year growth 2022-2027 (%)
7.5 Market opportunity by Distribution Channel
Exhibit 55: Market opportunity by Distribution Channel (USD billion)
Exhibit 56: Data Table on Market opportunity by Distribution Channel (USD billion)
8 Customer Landscape
8.1 Customer landscape overview
Exhibit 57: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
9 Drivers, Challenges, and Trends
9.1 Market drivers
9.2 Market challenges
9.3 Impact of drivers and challenges
Exhibit 58: Impact of drivers and challenges in 2022 and 2027
9.4 Market trends
10 Vendor Landscape
10.1 Overview
10.2 Vendor landscape
Exhibit 59: Overview on Criticality of inputs and Factors of differentiation
10.3 Landscape disruption
Exhibit 60: Overview on factors of disruption
10.4 Industry risks
Exhibit 61: Impact of key risks on business
11 Vendor Analysis
11.1 Vendors covered
Exhibit 62: Vendors covered
11.2 Market positioning of vendors
Exhibit 63: Matrix on vendor position and classification
11.3 ALANKEET CREATIONS LLP
Exhibit 64: ALANKEET CREATIONS LLP – Overview
Exhibit 65: ALANKEET CREATIONS LLP – Product / Service
Exhibit 66: ALANKEET CREATIONS LLP – Key offerings
11.4 Bhima And Bullion Pvt. Ltd.
Exhibit 67: Bhima And Bullion Pvt. Ltd. – Overview
Exhibit 68: Bhima And Bullion Pvt. Ltd. – Product / Service
Exhibit 69: Bhima And Bullion Pvt. Ltd. – Key offerings
11.5 Derewala Industries Ltd.
Exhibit 70: Derewala Industries Ltd. – Overview
Exhibit 71: Derewala Industries Ltd. – Product / Service
Exhibit 72: Derewala Industries Ltd. – Key offerings
11.6 Essentials Jewelry
Exhibit 73: Essentials Jewelry – Overview
Exhibit 74: Essentials Jewelry – Product / Service
Exhibit 75: Essentials Jewelry – Key offerings
11.7 Gurukrupa Gems
Exhibit 76: Gurukrupa Gems – Overview
Exhibit 77: Gurukrupa Gems – Product / Service
Exhibit 78: Gurukrupa Gems – Key offerings
11.8 Hari Krishna Exports Pvt. Ltd.
Exhibit 79: Hari Krishna Exports Pvt. Ltd. – Overview
Exhibit 80: Hari Krishna Exports Pvt. Ltd. – Product / Service
Exhibit 81: Hari Krishna Exports Pvt. Ltd. – Key offerings
11.9 Joyalukkas India Ltd.
Exhibit 82: Joyalukkas India Ltd. – Overview
Exhibit 83: Joyalukkas India Ltd. – Product / Service
Exhibit 84: Joyalukkas India Ltd. – Key offerings
11.10 Kalyan Jewellers India Ltd.
Exhibit 85: Kalyan Jewellers India Ltd. – Overview
Exhibit 86: Kalyan Jewellers India Ltd. – Product / Service
Exhibit 87: Kalyan Jewellers India Ltd. – Key offerings
11.11 Malabar Gold and Diamonds
Exhibit 88: Malabar Gold and Diamonds – Overview
Exhibit 89: Malabar Gold and Diamonds – Product / Service
Exhibit 90: Malabar Gold and Diamonds – Key offerings
11.12 PC Jeweller Ltd.
Exhibit 91: PC Jeweller Ltd. – Overview
Exhibit 92: PC Jeweller Ltd. – Business segments
Exhibit 93: PC Jeweller Ltd. – Key offerings
Exhibit 94: PC Jeweller Ltd. – Segment focus
11.13 Rajesh Exports Ltd.
Exhibit 95: Rajesh Exports Ltd. – Overview
Exhibit 96: Rajesh Exports Ltd. – Product / Service
Exhibit 97: Rajesh Exports Ltd. – Key offerings
11.14 Titan Co. Ltd.
Exhibit 98: Titan Co. Ltd. – Overview
Exhibit 99: Titan Co. Ltd. – Business segments
Exhibit 100: Titan Co. Ltd. – Key offerings
Exhibit 101: Titan Co. Ltd. – Segment focus
11.15 Tribhovandas Bhimji Zaveri Ltd.
Exhibit 102: Tribhovandas Bhimji Zaveri Ltd. – Overview
Exhibit 103: Tribhovandas Bhimji Zaveri Ltd. – Product / Service
Exhibit 104: Tribhovandas Bhimji Zaveri Ltd. – Key offerings
11.16 Vaibhav Ltd.
Exhibit 105: Vaibhav Ltd. – Overview
Exhibit 106: Vaibhav Ltd. – Product / Service
Exhibit 107: Vaibhav Ltd. – Key offerings
11.17 Vivah Creation
Exhibit 108: Vivah Creation – Overview
Exhibit 109: Vivah Creation – Product / Service
Exhibit 110: Vivah Creation – Key offerings
12 Appendix
12.1 Scope of the report
12.2 Inclusions and exclusions checklist
Exhibit 111: Inclusions checklist
Exhibit 112: Exclusions checklist
12.3 Currency conversion rates for USUSD
Exhibit 113: Currency conversion rates for USUSD
12.4 Research methodology
Exhibit 114: Research methodology
Exhibit 115: Validation techniques employed for market sizing
Exhibit 116: Information sources
12.5 List of abbreviations
Exhibit 117: List of abbreviations
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