Gems and Jewelry Market
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REPORT DESCRIPTION<br />
<strong>Gems</strong> <strong>and</strong> <strong>Jewelry</strong> <strong>Market</strong>:Overview<br />
<strong>Gems</strong> <strong>and</strong> jewelry consists of various jewelries that are made out of gold, platinum, gemstones, <strong>and</strong> others.<br />
<strong>Gems</strong> <strong>and</strong> jewelry is one of the fastest growing markets, as it holds customary values in several cultures across<br />
the globe. Several leading companies are aiming on investing in the marketing, advertising, <strong>and</strong> launching of<br />
new showrooms for increasing publicity <strong>and</strong> exp<strong>and</strong>ing their presence in the market. For instance, in 2017,<br />
Kalyan Jewelers planned to invest US$ 75 million to add 15 new showrooms to their ongoing expansion in<br />
Eastern <strong>and</strong> Northern regions of India.<br />
The major drivers of this market include growing dem<strong>and</strong> for crafted premium jewelry <strong>and</strong> precious gems.<br />
According to World Gold Council, the dem<strong>and</strong> for gold jewelry has increased by around 3% in the final quarter<br />
of 2017 from its third quarter. Furthermore, changing consumer preferences towards light weight h<strong>and</strong>crafted<br />
jewelry is boosting growth of the market. For instance, The World Gold Council, in 2018, accounted that Chow<br />
Tai Fook Enterprises Ltd., a major retailer in China sold 300,000 pieces of 22 carat gold internationally.<br />
However, increasing competition from local players <strong>and</strong> rising labor cost are factors restraining growth of the<br />
market. For instance, according to Coherent <strong>Market</strong> Insights, br<strong>and</strong>ed jewelry covers only around 20% of the<br />
global market, which will grow <strong>and</strong> cover over 30% of market share over the forecast period.<br />
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