China Artificial Jewellery Market Share, Trends, Revenue, Growth Drivers, Challenges, Opportunities and Future Investment Strategies Till 2033


China Artificial Jewellery Market Share, Trends, Revenue, Growth Drivers, Challenges, Opportunities and Future Investment Strategies Till 2033: SPER Market Research

 Category : Consumer & Retail

 Published: Nov-2023
 Author: SPER Analyst

China Jewellery Market is projected to be worth USD 125.34 billion by 2033 and is anticipated to surge at a CAGR of 7.73%.

A personal adornment worn as an accessory to accentuate one's appearance is called jewellery. It is composed of metal and has priceless jewels in it. There are many different kinds of jewellery available, including bracelets, rings, earrings, and necklaces. A lot of people purchase it as a status symbol or as a long-term investment. One of the biggest pearl-producing nations in the world is thought to be China. In Chinese jewellery, pearls, turquoise, and coral are often used gemstones. 

China Jewellery Market Driving Factors and Challenges
The Chinese jewellery market has been steadily expanding over the last several years, and this expansion is anticipated to continue during the projection period. Numerous growth-promoting variables, including rising per capita disposable income, expanding middle-class spending, rising urban population, rise in the tourist sector, etc., are anticipated to propel the market. Numerous factors, such as an increase in internet users, a rise in per capita GDP, and an increase in international travel, are contributing to the expansion of China's jewellery sector. Furthermore, China's growing female labour force is driving up demand for diamonds in the nation. Women make up the majority of the jewellery market in China. Sixty-three percent of jewellery purchases are women. Jewellery sales and GDP are related, meaning that if China's middle class and affluent population expands, so too will the nation's jewellery consumption. 

Their prices are more affordable because most local Chinese jewellery companies have been in operation for less than a century. Furthermore, the purchasing power of Tier II and Tier III cities is rapidly increasing. As a result, there is a rise in the market for Chinese jewellery. In addition, a lot of businesses are shifting their focus from love to make up for the losses resulting from fewer marriages; therefore, changes in marketing strategies and technological advancements could propel the China jewellery market upward. The Chinese jewellery market is growing because more and more women are wishing to own diamonds, particularly in China where women are more likely to do so.

In spite of this, there are still obstacles in the China jewellery market that prevent it from expanding. Falling marriage rates, a shrinking labour force of women, and China's anti-graft drive are some of the biggest obstacles facing the sector. Because Chinese families prefer male offspring, the one-child policy has led to a reduction in Chinese marriages. As a result, China has an excess of men, which has held down the expansion of the China jewellery market. The expansion of the China jewellery market is also anticipated to be hampered by growing prices for gold and silver. Further impeding the market's growth are escalating e-commerce frauds and a general lack of awareness regarding jewellery hallmarks. 

Impact of COVID-19 on China Jewellery Market
A study claims that COVID-19 has increased jewellery sales, since respondents to a recent survey reported purchasing more jewels while the epidemic was in effect. The COVID-19 outbreak and government-imposed lockdowns have resulted in an increase in investments in diamond jewellery as a way to deal with the changing market conditions.

China Jewellery Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; Chow Sang Sang, Chow Tai Fook, Chow Tai Seng, Lao Miao, Laofengxiang, Luk Fook, Ming Jewellery, TSL, Others.

China Jewellery Market Segmentation:

By Type: Based on the Type, China Jewellery Market is segmented as; Diamond, Gold, Silver.

By Product: Based on the Product, China Jewellery Market is segmented as; Bangles, Cuff links, Earrings, Necklace, Rings, Others.

By Region: This research also includes data for East China, North and Northeast China, Northwest China, South Central China, Southwest China.

This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.

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