Costume Jewelry Market in India to grow by USD 1.16 Billion (2025-2029), driven by affordable pricing, AI-driven market transformation - Technavio

NEW YORK, Jan. 28, 2025 /PRNewswire/ -- Report with the AI impact on market trends - The costume jewelry market in india size is estimated to grow by USD 1.16 billion from 2025-2029, according to Technavio. The market is estimated to grow at a CAGR of  11.4%  during the forecast period. Affordable pricing of costume jewelry is driving market growth, with a trend towards increased demand from millennials. However, low durability of costume jewelry  poses a challenge. Key market players include Anuradha Art Jewellery, Drip Project, GBL Altair Pvt. Ltd., GIVA Jewellery, Indian Imitation Jewellery, Isharya, Kushals Fashion Jewellery, Manek Ratna, Mangalmani Jewellers, Natura and Co Holding SA, Nykaa Fashion Pvt. Ltd., Romoch, Rubans Accessories, Sia Jewels Pvt. Ltd., Sukkhi Online Pvt. Ltd., TBA Jewels Pvt. Ltd., Violet and Purple Designer Fashion Jewellery Pvt. Ltd., YouBella Jewellery and Lifestyle, and Zariin.

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Market Driver

The Indian costume jewelry market is witnessing in demand, with trinkets, fake jewelry, and fashion jewelry gaining popularity among women. The rise in grooming standards and influence of television celebrities have fueled this trend. Despite gold prices, authentic jewelry remains a preference for special occasions. Working women and young people, including business professionals, are driving the demand for earrings, neckpieces, rings, bracelets, and chains. Men are also embracing jewelry, particularly cufflinks, studs, and necklaces. Ecommerce activities and online retailing have made jewelry accessible to all, boosting sales in the retail and online segments. The market caters to various materials like gold, silver, precious stones, diamonds, glass, plastic, beads, aluminum, brass, and semi-precious stones. Counterfeit jewelry, including imitation, trash, and phony jewelry, made of ivory, artificial stones, and metals like nickel, cadmium, and lead, also find a market. The gender segment includes males and females, with retail sales and online sales dominating the market through offline stores, concept stores, and e-commerce sites. The market is influenced by international fashion consciousness and the young age population's increasing branding awareness. Jewelry design and promotional techniques further enhance the market's growth. 

The Millennial demographic, comprising individuals aged 26 to 41 years, significantly contributes to the Indian costume jewelry market. With an active social life and increasing disposable income, they frequently attend various social gatherings and require diverse jewelry pieces to complement their outfits. This consumer segment is predominantly employed and spends time in cafes, bars, and restaurants. Consequently, the online sale of custom costume jewelry has experienced substantial growth in India. 

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 Market Challenges

• The Indian costume jewelry market encompasses trinkets, fake jewelry, fashion jewelry, and fallalery, primarily catering to women's grooming standards. Television celebrities and working women are key consumers, driven by personal appearance needs in the corporate world. Gold and silver prices influence the demand for authentic jewelry, but young people and business professionals prefer semi-precious stones, beads, and other materials like glass, plastic, aluminum, brass, and ivory in false, imitation, or trash jewelry. Ecommerce activities and online retailing, with necklaces, earrings, rings, bracelets, chains, pendants, cufflinks, and studs available for both males and females. Retail sale and online sale segments serve the working population and young age population. Gender segment includes males and females, with jewelry design and promotional techniques attracting consumers. Metals like copper, nickel, cadmium, and lead, as well as synthetic stones, pins, backings, and aluminum, are used in jewelry production. Internationalization and fashion consciousness continue to influence the market.
• Costume jewelry in India, while affordable, comes with unique challenges. These pieces, often made from plastic, glass, or other synthetic materials, are prone to breaking and losing their shine. Vendors typically do not provide warranties for costume jewelry due to its disposable nature. In contrast, fine jewelry, crafted from precious metals and gems, offers a longer lifespan and often includes a warranty. However, the unorganized sector in India may offer lower prices for costume jewelry, but quality can be compromised. Some manufacturers may use harmful chemicals, such as lead, chromium, and nickel, which can cause allergic reactions and health concerns. Proper maintenance and handling are essential for costume jewelry to ensure its longevity.

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Segment Overview 

This costume jewelry market in India report extensively covers market segmentation by  

• 1.1 Necklaces and chains
• 1.2 Earings
• 1.3 Rings
• 1.4 Bracelets
• 1.5 Others

• 2.1 Female
• 2.2 Male

• 3.1 Offline
• 3.2 Online

• 4.1 APAC

1.1 Necklaces and chains-  The necklaces and chains segment in India's global costume jewelry market is projected to experience substantial revenue growth compared to other segments such as earrings, rings, and bracelets. This growth is attributed to the increasing innovation in necklace designs, which appeals to consumers. The expanding personal grooming, fashion awareness, and rising living standards among women worldwide are driving the demand for necklaces and chains. Additionally, the male consumer base is also showing an inclination towards these accessories. Drip Project, a jewelry company based in Mumbai, offers a variety of mens chains and necklaces, catering to this trend. The general designs for men's chains, requiring minimal customization, further boosts their popularity. These factors are anticipated to fuel the growth of the necklaces and chains segment, ultimately contributing to the expansion of the overall market.

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Research Analysis

The costume jewelry market in India is a vibrant and dynamic industry, catering primarily to women, young people, and the working population. This segment of the jewelry market is known for its affordability and wide variety, encompassing trinkets, fake jewelry, fashion jewelry, fallalery, and junk jewelry. These accessories are often made from materials like glass, plastic, and metal, and can be found in the form of necklaces, chains, earrings, rings, cufflinks, studs, bracelets, and more. Television celebrities and influencers have played a significant role in popularizing costume jewelry in India, making it a must-have accessory for many. While some prefer the authenticity of gold, silver, precious materials, diamonds, and jewels, others embrace the allure of imitation jewelry made from stones, pearls, and other materials. Grooming standards continue to evolve, with costume jewelry becoming an essential part of the wardrobe for working women and young people. The market is vast and diverse, with a wide range of designs, styles, and price points to cater to every taste and budget. Whether it's a statement piece or a daily accessory, costume jewelry adds a touch of glamour and elegance to any outfit.

Market Research Overview

The costume jewelry market in India is thriving, catering mainly to women and men, especially the working population and young people. This segment includes trinkets, fake jewelry, fashion jewelry, fallalery, junk jewelry, and more. The rise of television celebrities and increasing grooming standards have fueled the demand for jewelry, with gold prices often influencing the choice of materials like silver, precious materials, diamonds, jewels, glass, plastic, beads, aluminum, brass, semi-precious stones, artificial stones, and more. The market encompasses earrings, neckpieces, rings, bracelets, chains, pendants, cufflinks, studs, necklaces, bangles, and more. Ecommerce activities and online retailing have significantly impacted sales, with personal appearance and corporate world driving demand. The earrings segment and retail sale segment are particularly popular. The market caters to both genders, with business professionals, children, and office professionals among the key consumer groups. The market is increasingly internationalized, with fashion consciousness driving trends, and man-made jewelry, counterfeit jewelry, and promotional techniques gaining popularity. Copper, nickel, cadmium, lead, and skin effects are also used in jewelry production. The market is diverse, catering to various gender segments, age groups, and consumer preferences.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Product
• Necklaces And Chains
• Earings
• Rings
• Bracelets
• Others
• End-user
• Female
• Male
• Distribution Channel
• Offline
• Online
• Geography
• APAC

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

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