Africa Costume Jewelry Market to Reach USD 1.6 Billion by 2032, Top Impacting Factors

The Africa costume jewelry market is driven by factors such as rise in fashion conscious consumers and innovation in jewelry design and integration of African culture in the jewelry. However, limited supply chain infrastructure and less durability of costume jewelry restrict the market growth. Moreover, the growth of the tourism industry offers new opportunities in the coming years.

Costume jewelry, in contrast to more costly materials such as gold, diamonds, platinum, pearls, and other gemstones, is crafted from more affordable materials. It goes by several names, including junk, imitation, trinkets, and fashion jewelry. It comes in a variety of styles, including rings, bangles, necklaces, and earrings, offering customers a wide range of options for their accessories. Costume jewelry is designed to complement various outfits. The production of costume jewelry involves the use of a diverse range of raw materials, including glass, metals, beads, synthetic stones, plastic, semi-precious stones, and ivory.

📚 𝐃𝐨𝐧'𝐭 𝐦𝐢𝐬𝐬 𝐨𝐮𝐭 𝐨𝐧 𝐲𝐨𝐮𝐫 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲: https://www.alliedmarketresearch.com/request-sample/A254924

According to the report, the Africa costume jewelry market size was valued at $688.3 million in 2022 and is projected to reach $1,684.8 million by 2032, growing at a CAGR of 9.2% from 2023 to 2032.

The female segment to maintain its lead position during the forecast period

n the basis of the gender, the female segment dominated the market in 2022 accounting for nearly two-thirds of the market share and is expected to maintain its dominance during the forecast period. The shift among female consumers from high-end gold and diamond jewelry toward lightweight costume jewelry, driven by customization options and changing fashion trends. The rise in spending capacity, particularly among working women, further supports the demand for costume jewelry. The male segment, on the other hand, would cite the highest CAGR of 9.8% from 2023 to 2032.

Rest of Africa to maintain its dominance by 2032

Based on region, Rest of Africa held the highest market share in terms of revenue in 2022, accounting for nearly three-fourths of the Africa costume jewelry market revenue and is likely to dominate the market during the forecast period owing to a rising desire among consumers across the rest of Africa for costume jewelry that shows cultural significance and traditional workmanship. Customers are drawn to jewelry that incorporates regional patterns, symbols, and resources, allowing them to express their cultural identity. Furthermore, the west Africa region is anticipated to manifest the highest growth with 9.8% CAGR from 2023 to 2032.

𝐃𝐨 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 𝐄𝐧𝐪𝐮𝐢𝐫𝐲 https://www.alliedmarketresearch.com/purchase-enquiry/A254924

The retail channel segment to maintain its lead position during the forecast period

On the basis of the mode of sale, the retail channel segment dominated the market in 2022 accounting for more than four-fifths of the market share and is expected to maintain its dominance during the forecast period. The increasing emphasis on experiential retail, in which brick-and-mortar establishments focus on providing immersive and interesting shopping situations. Retailers are investing in aesthetically appealing store design, engaging displays, and informed employees to improve the entire shopping experience for customers. The online sales, however, would portray the fastest CAGR of 10.1% from 2023 to 2032.

𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬: -
Compagnie Financière Richemont SA
H&M Group
Colette by Colette Hayman
Giorgio Armani S.p.A.
Natura &Co
Woolworths Holdings Limited
Dangote Industries Limited
Claire's Stores, Inc.
Jumali Accessories
Authentic Brands Group LLC.

𝐅𝐨𝐫 𝐚𝐧𝐲 𝐐𝐮𝐞𝐫𝐢𝐞𝐬 𝐋𝐢𝐧𝐤𝐞𝐝 𝐰𝐢𝐭𝐡 𝐭𝐡𝐞 𝐑𝐞𝐩𝐨𝐫𝐭, 𝐀𝐬𝐤 𝐚𝐧 𝐀𝐧𝐚𝐥𝐲𝐬𝐭: https://www.alliedmarketresearch.com/connect-to-analyst/A254924

𝐓𝐡𝐞 𝐞𝐚𝐫𝐫𝐢𝐧𝐠𝐬 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐥𝐞𝐚𝐝𝐞𝐫𝐬𝐡𝐢𝐩 𝐬𝐭𝐚𝐭𝐮𝐬 𝐭𝐡𝐫𝐨𝐮𝐠𝐡𝐨𝐮𝐭 𝐭𝐡𝐞 𝐟𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐩𝐞𝐫𝐢𝐨𝐝

Based on product type, the earrings segment dominated the market in 2022 accounting for more than one-fifth of the market share and is expected to dominate the market during the forecast period, owing to the availability of lightweight earrings in a diverse range of designs and colors that effortlessly complement outfits. The rings segment is projected to cite the highest CAGR of 10.7% from 2023 to 2032.

𝐓𝐡𝐞 𝐟𝐞𝐦𝐚𝐥𝐞 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐥𝐞𝐚𝐝 𝐩𝐨𝐬𝐢𝐭𝐢𝐨𝐧 𝐝𝐮𝐫𝐢𝐧𝐠 𝐭𝐡𝐞 𝐟𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐩𝐞𝐫𝐢𝐨𝐝

n the basis of the gender, the female segment dominated the market in 2022 accounting for nearly two-thirds of the market share and is expected to maintain its dominance during the forecast period. The shift among female consumers from high-end gold and diamond jewelry toward lightweight costume jewelry, driven by customization options and changing fashion trends. The rise in spending capacity, particularly among working women, further supports the demand for costume jewelry. The male segment, on the other hand, would cite the highest CAGR of 9.8% from 2023 to 2032.

𝐊𝐧𝐨𝐰 𝐌𝐨𝐫𝐞- https://www.alliedmarketresearch.com/africa-costume-jewelry-market-A254924

𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐖𝐞 𝐇𝐚𝐯𝐞 𝐨𝐧 𝐂𝐨𝐧𝐬𝐮𝐦𝐞𝐫 𝐆𝐨𝐨𝐝𝐬 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲:
𝐉𝐞𝐰𝐞𝐥𝐫𝐲 𝐏𝐚𝐝 𝐌𝐚𝐫𝐤𝐞𝐭 https://www.alliedmarketresearch.com/jewelry-pad-market-A13094

𝐂𝐨𝐬𝐩𝐥𝐚𝐲 𝐂𝐨𝐬𝐭𝐮𝐦𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 https://www.alliedmarketresearch.com/cosplay-costumes-market-A13135

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