The market observed a YOY growth of 14.59% in 2020 and the growth momentum is expected to accelerate at a CAGR of 15% during the forecast period. The report covers a comprehensive analysis of recent developments, new product launches, major revenue-generating segments, and market behaviour across geographies.
The global online jewelry market is fragmented due to many international and regional players. Technavio identifies CHANEL Ltd., Chopard Group, Chow Tai Fook Jewellery Co. Ltd., Compagnie Financiere Richemont SA, Graff Diamonds Ltd., Kering SA, LVMH Moet Hennessy – Louis Vuitton, Signet Jewelers Ltd., The Swatch Group Ltd., and Titan Co. Ltd. as the dominant players in the market.
Innovation in jewellery design and technology will offer immense growth opportunities. However, the decline in demand for gold jewelry will challenge the growth of the market participants. To make the most of the possibilities, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.
Source: Technavio
