portland, OR, Sept. 07, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global jewelry pad market was estimated at $317.3 million in 2020 and is expected to hit $577.2 million by 2030, registering a CAGR of 4.3% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
Availability of cost-effective jewelry, rise in the number of jewelry shops, and increase in fashion conscious customers drive the growth of the global jewelry pad market. On the other hand, the fact that jewelry boxes can easily get damaged by fungus and mold restrains the growth to some extent. However, huge expansion of e-commerce is anticipated to pave the way for lucrative opportunities in the industry.
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COVID-19 scenario-
- The outbreak of the pandemic gave way to closure of the majority of brick and mortar jewelry stores across the world, which impacted the market negatively, especially during the initial phase of the lockdown.
- However, the global situation is getting ameliorated slowly, and the market is expected to recoup soon.
The global jewelry pad market is analyzed across product type, material, end user, and region. Based on product type, the necklace segment accounted for the major share in 2020, holding nearly half of the global jewelry pad market. The same segment would also grow at the fastest CAGR of 4.9% throughout the forecast period.
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Based on material, the foam segment generated the highest share in 2020, accounting for around half of the global market. At the same time, the fabric segment is projected to manifest the fastest CAGR of 5.2% from 2021 to 2030 .
Based on region, the market across Asia-Pacific held the lion’s share in 2020, garnering nearly three-fifths of the global market. The same region is also expected to cite the fastest CAGR of 5.1% by the end of 2030. The other provinces studied in the report include North America, Europe, and LAMEA.
The key market players analyzed in the global jewelry pad market report include Gunther Mele Limited, Jep Pads Ltd, Westpack A/S, JPB Jewelry Box Co., Jewelry Tray and Pad Company, Finer Packaging Ltd, Kling GmbH, Nile Corp., Stockpak, The Jewelry Tray Factory. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. 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.
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. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. 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.
