Introduction
Welcome to the world of jewelry enthusiasts, where we delve into the fascinating realm of the jewellery box market. If you’re a jewelry lover, you understand the importance of storing and organizing your precious gems and accessories. In this comprehensive guide, we’ll explore the latest trends, features, and expert recommendations in the world of jewelry boxes. From classic wooden designs to modern, high-tech options, we’ve got you covered.
Jewellery Box Market: A Glance
The jewellery box market has evolved significantly over the years, offering a wide range of options to cater to every taste and need. Let’s take a closer look at some key aspects:
Evolution of Jewelry Boxes
In this fast-paced world, jewelry boxes have come a long way from simple wooden containers. Today, they are a blend of functionality and aesthetics. Whether you prefer traditional designs or contemporary styles, the market offers a plethora of options.
Witnessing a steady surge, the jewellery box market marked a valuation of approximately US$ 146.8 Million in 2021, with a projected upswing to US$ 249.2 Million by the close of 2032. Anticipated to gain momentum, the market is set to showcase a promising Compound Annual Growth Rate (CAGR) of 5.0% from 2022 to 2032.
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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 1.6 times the current market value during 2022-2032.
- By distribution channel, the retail store is projected to create an incremental opportunity of US$ 32.2 million during the forecast period.
- North America and East Asia are estimated to account for 55% of the total sales in the 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 –
- 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 Million in 2020 and now is on track to turnover US$ 31.4 Million 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
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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 Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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