The need for opulent and expensive jewellery storage solutions is driving the growth of the jewellery box market. For someone who treasures their jewellery collection, a jewellery box is a must-have piece of clothing because it not only provides a place to store valuables but also represents wealth, elegance, and style.
By the end of 2032, the market for jewellery boxes is forecast to have grown from an estimated market value of US$ 146.8 million in 2021 to US$ 249.2 million. Between 2022 and 2032, the market for jewellery boxes is projected to grow at a CAGR of 5.0%.
In terms of end users, the market can be segmented into residential and commercial end users. In contrast to residential end-users who purchase jewellery boxes for their own use, commercial end-users are jewellery manufacturers and merchants who purchase boxes for their customers.
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As customers grow more aware of how their purchases affect the environment, sustainability is having a big impact on the market for jewellery boxes. In response to this rising demand, businesses are offering jewellery boxes made of eco-friendly materials including bamboo, recycled paper, and biodegradable polymers.
Due to the geographic concentration of jewellery manufacturers and sellers, the Asia-Pacific region has the largest market for jewellery boxes. Due to the growing demand for upmarket and luxurious jewellery storage options, North America and Europe are also key markets for jewellery cases.
In conclusion, the need for opulent and expensive jewellery storage solutions is fueling the growth of the jewellery box industry. As a result of rising consumer demand for eco-friendly products and growing environmental consciousness, market expansion is anticipated in the future, providing considerable potential for sector participants.
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
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“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 –
- 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.
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Key Players:
- Dahlinger GmbH and Co KG
- Potters Limited
- Holmen AB ADR
- McLaren Packaging Ltd.
- Taylor Box Company
- Thomas Sabo GmbH and Company KG
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.)
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