Dublin, Sept. 01, 2023 (GLOBE NEWSWIRE) -- The "Pearl Jewelry Market By Type, By Material, By Pearl Nature, By Pearl Source, By Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2022-2031" report has been added to ResearchAndMarkets.com's offering.
The global pearl jewelry market, valued at $2.77 billion in 2021, is poised for remarkable growth, projecting an estimated value of $41.99 billion by 2031.
This impressive projection is underpinned by a robust Compound Annual Growth Rate (CAGR) of 13.2% from 2022 to 2031. Pearl jewelry holds a timeless allure and has been adorned for centuries, representing elegance, beauty, and sophistication.
In 2021, the necklace segment led the market, capturing the largest market share as pearl necklaces continue to be one of the most popular types of pearl jewelry worldwide. Pearl jewelry encompasses a diverse range of items including necklaces, earrings, rings, and more. Crafted by embedding pearls into exquisite designs, these pieces exude grace and charm. Notably, pearls can be embedded either alone or in combination with other stones or metals, creating a stunning array of options. The market focuses on pearls' various shapes and sizes, while the study does not cover different pearl colors due to the unpredictable nature of color during the manufacturing process.
While natural pearls are rare and expensive, most pearls used in the pearl jewelry industry are cultured. Cultured pearls are produced by imitating the natural pearl formation process, involving the introduction of a seed into a mollusk. Cultured pearls, particularly freshwater ones, are more accessible due to the ability to culture multiple pearls from different mollusks simultaneously. This accessibility is driving the demand for cultured pearl jewelry.
However, challenges related to pearl cultivation such as the health of mollusks, water quality, and duration of pearl production impact cultured pearl production. Over-cultivation in freshwater pearls can harm the environment and reduce pearl quality, while saltwater pearls face challenges due to the scarcity of mollusks and maintenance difficulties, thus affecting pearl jewelry production.
The market is witnessing a shift in gender norms, with men increasingly embracing pearl jewelry. Millennial and Gen Z consumers are defying traditional gender-specific norms, embracing jewelry for personal expression. Pearl necklaces and rings are gaining popularity among male consumers, adding to the market's growth.
Market Dynamics:
Drivers:
- Growing Demand for Pearls in Fashion Jewelry
- Diverse Range of Pearl Shapes and Sizes
- Wide Availability of Cultured Pearls
Restraints:
- Challenges in Pearl Cultivation
- Misconceptions Regarding Authenticity of Cultured Pearls
Opportunities:
- Celebrity Endorsements of Pearl Jewelry
- Increased Adoption of Pearl Jewelry by Men
The comprehensive market report provides numerous benefits for stakeholders, including:
- Quantitative analysis of market segments, trends, and dynamics from 2021 to 2031.
- Insights into key drivers, restraints, and opportunities shaping the market.
- Porter's five forces analysis to guide profit-oriented decision-making.
- In-depth segmentation analysis revealing prevailing market opportunities.
- Revenue contribution mapping of major countries within each region.
- Market player positioning, facilitating benchmarking and insights into competitors' standings.
Key Market Segments:
Type:
- Necklace
- Earrings
- Rings
- Others
Pearl Nature:
- Cultured
- Natural
Distribution Channel:
- Offline Channels: Jewelry Stores, Brand Stores, Supermarkets
- Online Channels
Pearl Source:
- Fresh Water
- Salt Water
Material:
- Gold
- Silver
- Others
Regions:
- North America: U.S., Canada, Mexico
- Europe: UK, Germany, France, Italy, Spain, Netherlands
- Asia-Pacific: China, Japan, India, South Korea, Australia
- LAMEA: Brazil, Argentina, Saudi Arabia, UAE, South Africa
Key Market Players:
Leading players in the pearl jewelry market include Akuna Pearls, Aquarian Pearls, Pearls Of Australia Pty Ltd., Pearl Falco Corporation, Kailis Jewellery, Isle of Wight Pearl, Pearl Jewelry Ito, Inc., Palas Emporio Pty Ltd., LVMH, Jewelmer, CPI Luxury Group, TASAKI & Co., Ltd., Pearl Paradise, K. Mikimoto & Co., Ltd., and Wing Wo Hing Jewelry Group Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/q4x8jx
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
