Festivals and occasions are the key drivers improving the consumption of jewellery in India. Annual jewellery consumption increase 52% in the year 2021. Rising Preference for Premium Quality Jewellery Items to Push Jewellery Boxes SalesĪs per the World Gold Council, India recorded the total demand for the jewellery item was was 610.9 Tonnes in the market in 2021. Overall, the future outlook for the jewellery box market is expected to grow at a positive rate during the forecast period.Ĭountry-wise insights How is India Contributing in the Expansion of Jewellery Box Market? The boxes are also equipped with innovative styles and decorations. In addition, manufacturers are developing boxes that are environmentally friendly, durable, and easy to recycle. The large box is divided into various parts to store the jewellery separately which prevents it from moisture and external heat. Leather pouches are often used in the jewellery market to store small pieces of jewellery inside. Jewellery boxes are usually made of wooden, leather or glass. The growth in jewellery box market is expected to surge rapidly with rising application of necklaces, bracelets and rings & earrings. The global jewellery box market is projected to increase at a CAGR of 5.0 % over the forecast period of 2022 to 2032. The global jewellery box market expanded at a CAGR of 3.6% during the historic period (2015-2021), as per Future Market Insights. Jewellery Box Market Demand Analysis (2015-2021) Compared to Sales Forecast (2022-2032) This is owing to the increasing production and consumption of jewellery items in the U.S., and China. North America and East Asia, collectively, are projected to hold around 55% of the global jewellery box market by the end of 2032. A new forecast by FMI estimates that this revenue will nearly double between 20, with a ten-year compound annual growth rate (CAGR) of 3.2%. The sales of jewellery box for ring & earrings saw positive growth in 2021 with worldwide revenues up 2.1% year over year. In the global jewellery box market, the plastic segment, paper segment, metal segment revenue, collectively, totalled US$ 126.3 Mn for 2021, according to Future Market Insights (FMI). The jewellery box market is estimated to hold 3.5%-4% of the global luxury rigid boxes market worth US$ 4.0 Bn, in 2022. Growth in the jewellery box market is expected to accelerate at a CAGR of 5.0% between 20.Ĭollective Value Share: Top 5 Companies (2022E) The jewellery box market was valued at around US$ 146.8 Mn in 2021 and the sales of are projected to reach US$ 249.2 Mn by the end of 2032.
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