The jewellery boxes market is witnessing notable growth, primarily driven by the increasing demand for luxurious and high-value storage options for jewellery. These boxes not only serve as practical storage solutions but also symbolize wealth, elegance, and style for individuals who value their jewellery collections.
The market is expected to experience steady growth between 2022 and 2032, with a compound annual growth rate (CAGR) of 5.0%. By the end of 2032, the jewellery box market is projected to reach a value of US$249.2 million, a significant increase from the estimated value of US$146.8 million in 2021.
The market can be segmented based on end-users, which include residential and commercial customers. Residential end-users purchase jewellery boxes for personal use, while commercial end-users consist of jewellery manufacturers and merchants who acquire boxes for their customers.
Sustainability is playing a crucial role in shaping the jewellery box market as consumers are becoming more aware of the environmental impact of their purchases. In response to this demand, businesses are offering jewellery boxes made from eco-friendly materials such as bamboo, recycled paper, and biodegradable polymers, providing environmentally responsible options to consumers. This focus on sustainability aligns with the growing environmental consciousness among consumers and enhances the appeal of jewellery boxes in the market.
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The Asia-Pacific region currently holds the largest market share for jewellery boxes, primarily due to the concentration of jewellery manufacturers and sellers in that region. However, North America and Europe also represent significant markets for jewellery boxes, driven by the growing demand for upscale and luxurious jewellery storage options.
Key Takeaways from Jewellery Box Market
- Based on the material, the paper segment is estimated to hold around 57% of the market value share by the end of 2022.
- The ring & earrings segment is projected to expand 1.6x the current market value during 2022-32.
- By distribution channel, the retail store is projected to create an incremental opportunity of US$ 32.2 Mn during the forecast period.
- North America and East Asia are estimated to account for 55% of the total sales in jewellery box market in 2022.
- India is expected to be the most lucrative jewellery market in South Asia owing to the growing preference for premium jewellery items
“Rising preference for eye-catching & protective packaging solutions in the luxury product industry including jewellery will augment the sales of the jewellery box.”– says FMI analyst
Competitive Landscape
The global jewellery box market is extremely fragmented and competitive. Key players use a variety of marketing techniques, including mergers & acquisitions, expansions, collaborations, and partnerships.
Leading organisations also use new product creation as a strategic way to expand their market presence among customers. Advanced jewellery box have been incorporated as a result of these tactics. Some of the recent developments in the market are as follows –
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- In January, 2022, Finer Packaging has introduced small and desirable jewellery boxes in the market. Some expensive products have a permanent class in the market. So they have introduced the best new and small boxes for the customer to attract towards the buying process.
- In November, 2021. McLaren Packaging Ltd. Has celebrated its 40th anniversary with a record turnover and capital investment. They have achieved their target of US$ 20 Mn in 2020 and now is on track to turnover US$ 31.4 Mn in a financial year with a total employee of 240 members.
Key Players:
- Dahlinger GmbH and Co KG
- Potters Limited
- Holmen AB ADR
- McLaren Packaging Ltd.
- Taylor Box Company
- Thomas Sabo GmbH and Company KG
India and the U.S. Driving Growth in Jewellery Box Market
India’s Growing Preference for Premium Jewellery Boosts Jewellery Box Sales India’s increasing demand for jewellery, driven by festivals and occasions, has contributed to the growth of the jewellery box market. With a rising standard of living and a focus on customized and unique jewellery, the demand for designer jewellery boxes is on the rise. This trend has created opportunities for manufacturers to offer exquisite single-piece boxes that enhance the overall appeal of the product.
Surge in Jewellery Box Demand in the U.S. Fueled by More Jewellery Stores The U.S. jewellery box market has been boosted by the increasing number of jewellery stores, which currently exceed 8,000. The market has seen significant growth, driven by the consumption of gold and the influence of western culture on weddings. The rising gold production in the U.S. and the expansion of jewellery stores have further propelled the demand for jewellery boxes
Market Benefits
- The study provides an in-depth analysis of the global jewellery box market along with the current trends and future estimations to elucidate the imminent investment pockets.
- The key market players along with their strategies are thoroughly analyzed to understand the competitive outlook of the industry.
- An extensive analysis of the market based on application assists in understanding the trends in the industry.
- The report presents a quantitative analysis of the market from 2022 to 2032 to enable stakeholders to capitalize on the prevailing market opportunities.
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Jewellery Box Market by Category
By Material:
- Wood
- Leather
- Paper
- Metal
- Glass
- Plastic
By Distribution Channel:
- Offline
- Hypermarket & Supermarket
- Retail Store
- Convenient Store
- Other Offline Store
- Online
By Application:
- Necklace
- Bracelet
- Ring & Earring
- Watches
- Other Applications (Anklets, Nose Pin, etc.)
About FMI
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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Future Market Insights Inc.
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