Market research Future (MRFR) reports states that the global luxury jewelry market is likely to register a remarkable market valuation at a significant CAGR over the forecast period.
The global luxury jewelry market is driven by multiple influential factors such as the rising demand for luxury statement goods, fashion consciousness among consumers along with the changing trends enabling market players to launch stylish jewelry. These impactful factors are expected to contribute to the majority of the market share over the forecast period.
Get a Sample PDF Brochure: https://www.marketresearchfuture.com/sample_request/6992
The key players acknowledged in the global luxury jewelry market are Buccellati Holding Italia SpA (Italy), Bulgari S.p.A.(Italy), Chopard International SA (Switzerland), Compagnie Financière Richemont SA (Switzerland), the Graff Diamonds Corporation (UK), Guccio Gucci S.p.A. (Italy), Harry Winston, Inc. (US), K. Mikimoto & Co., Ltd. (Japan), Société Cartier (France), Tiffany & Co. (US)
The global market for luxury jewelry has been segmented on the basis of type, material, end-user, and distribution channel.
Based on type, the global market for luxury jewelry has been segmented into bracelet, earring, necklace, ring, and others. The earring segment accounts for the largest market share over the review period, owing to the increasing fashion trend driving the women preferences towards earrings as statement jewelry and everyday-wear. The ring segment is also expected to rise at a higher growth rate for its increase in usage as investment and gifts applications.
Based on material, the global luxury jewelry market has been segmented into gold, platinum, silver, and others. the gold segment accounts for the largest market share over the forecast period, owing to its higher preference in jewelry products by consumers.
Based on end-user, the global luxury jewelry market has been segmented into men and women. The women segment is assessed for the dominant market share over the evaluation period, owing to the higher purchase of jewelry from women consumers as a fashion statement. However, the men segment is also expected to grow significantly over the forecast period, owing to the shifting trend towards men jewelry for aesthetic appeal.
by the distribution channel, the global market for luxury jewelry is segmented into store based and nonstore based. The store-based segment has been sub-segmented into multi-brand stores, specialty stores, and others. The store-based segment is accounted for the dominant market share over the forecast period, owing to the higher consumer preference for multi-brand stores. The non-store based segment is expected to rise at a higher CAGR over the review period, owing to the massive growth of the e-commerce industry and consumer shift towards online retailing.
Click Here to Read Full Summary of Report: https://www.marketresearchfuture.com/reports/luxury-jewelry-market-6992
Based on the region, the market is segmented into North America, Europe, asia Pacific, and the rest of the world.
North America accounts for the largest region in the global luxury jewelry market and is expected to register a significant market share over the forecast period. The presence of a rich population along with key market players in developed countries such as Canada and the US is expected to fuel the demand for luxury jewelry over the forecast period.
Europe is assessed as the second largest market in the global luxury jewelry market, owing to the rapidly growing popularity of customized jewelry as per consumer requirements, and the increasing demand for the fusion of traditional and trending jewelry in the region over the forecast period.
The Asia pacific is expected to witness the fastest growth in the global luxury jewelry market, owing to the constant demand for luxury jewelry in countries such as India and China, where jewelry is an essential part of their culture. Women in these countries are almost always sporting some type of jewelry. The shift from traditional to the adoption of trendy jewelry is likely to drive the market over the forecast period.
Is Platinum a Right Choice For an Engagement Ring?
If you read this post, you might be looking for platinum engagement rings for women. You are right because we will discuss why platinum is the best engagement ring. As you might already know, platinum is among the most popular precious metal choices for engagement rings but with great reasons. Most brides and grooms go for platinum rings sets.
The metal has the durable quality and symbolizes commitment and love. It is considered the best of the best and has become more fantastic than gold and other metals. This metal is rare, enduring, bright in nature, and lovely. When looking for engagement rings, this metal typically tops your list. To learn more on platinum engagement rings for women, keep reading this post.
Platinum Has a Bright White Beauty
Unlike other metals like white gold, platinum is white naturally. As for the white gold, it will need to be plated with rhodium metal to provide it with a white sheen, and this process will be repeated as years go on to prohibit the yellow color of gold from emerging. Its naturally white color best compliments the radiance of a colorless diamond. The light play between the metal and the diamond white enhances the whole appearance of the stone.
The Durability and Platinum Patina
Even though platinum and white gold are precious metals, platinum is the most durable. Platinum is a sticky metal that will not wear off. When scratching platinum metal, it does not flake off. You can polish it many times, and you will not lose the metal. As time progresses, white gold will become thin because it wears off because of repolishing. Its prongs will then become weak and brittle.
On the other hand, Platinum metal does not wear or become thin; instead, it gets a platina as time progresses. This pattern causes a velvety character to the metal. Most people like the soft patina of this metal. But if you want your metal shining, you can repolish it back to its sparkling splendor.
Platinum metal is pure and hypoallergenic. This is why most brides opt for this metal. On the other hand, gold needs to be mixed with other alloys because it is soft. This helps it to be more vital for use. Platinum metal is between 90% to 95% pure, making it a safer choice for those with sensitive hands.
When opting for an engagement ring, being comfortable is always essential. It also needs to be hypoallergenic, and platinum, therefore, is denser compared to gold. This causes a sturdy, weightier feel to your jewelry. If you are looking for a ring that will last for a longer period, platinum is the best and will give you a sense of security for your precious metal.
Maintenance and Care
Platinum metal does not require any plating, making it easy to maintain. It is easier for this ring at home by using a soft brush and wiping it with a clean cloth.
It Compliments Other Stones
Your ring needs to be good, but this is not an essential part. The setting of your stone is the essential one. If you have a dazzling stone with a diamond metal, you will need the neutral white color of platinum to help with this. Even though you do not have the gemstone in the ring, the white look is very stylish. Platinum has a classy natural patina appearance and typically shines again after polishing.
Platinum is the Rarest Precious Metal
Making one ounce of platinum metal will take you eight weeks and 10 tons of ore. This makes it the rarest metal on earth. We wear jewelry to feel suitable, so wearing the rarest metal on earth will make you feel good. This metal is 30 times rarer than gold. That is why it is more expensive. But if you can afford it, why not choose it.
Pros of Platinum Metal
It is Heavier Than Gold Metal
Platinum is so heavy that is why it is durable. However, you will have to carry more weight on your finger.
- Platinum is Expensive
- It gets a matte appearance
- It is harder to resize platinum metal
Choosing the right engagement ring is critical. This is why you should consider platinum engagement rings for women. As you have seen, this metal is the best compared to other metals. It has the most pros compared to cons. Always note that you cannot go wrong with a metal like platinum. It has an undeniable quality that will make your ring the best for generations when paired with its beauty. Do more research on platinum engagement rings, and you will find the perfect ring for the love of your life.