Japan Jewelry Market Insights Forecasts To 2032
- The Japan Jewelry Market Size was valued at USD 9.62 Billion in 2022.
- The Market is growing at a CAGR of 11.37% from 2022 to 2032.
- The Japan Jewelry Market Size is expected to reach USD 28.25 Billion by 2032.
- Japan is expected to grow the fastest during the forecast period.
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The Japan Jewelry Market Size is expected to reach USD 28.25 billion by 2032, at a CAGR of 11.37% during the forecast period 2022 to 2032.
Japan is now the world's second largest jewelry market, trailing only the United States. With 450,000 ounces of platinum used for jewelry creation, Japan is also the world's second-largest consumer of metal. Japan is also ranked second in the world for the selling of diamond jewelry. As Japan's economy expanded, so did demand for everything that would put its newly acquired wealth on exhibit. Jewelry and exquisite accessories are examples of this. Lab-created diamonds in particular, which tend to be indistinguishable from genuine diamonds and are likely to become much more widespread and easily accessible in the coming years, are considered to be among the most stimulating new inventions in the jewelry business. Furthermore, the Japanese jewelry market continues to expand owing to an assortment of supportive factors such as decreasing the price of gold and silver, an increase in digital buyers, increasing economic output per capita, an increase in the female workforce populace, an increase in middle-class population, an increase in digital media users, an increase in urban population, an increase in high-net-worth people (HNWI) population, an increase in foreign tourism, and an increase in e-commerce retail sales.
This research report categorizes the market for Japan Jewelry Market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Japan Jewelry Market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segments of the Japan Jewelry Market.
Japan Jewelry Market Report Coverage
|Market Size in 2022:||USD 9.62 Billion|
|Forecast Period 2022-2032 CAGR:||11.37% CAGR|
|2032 Value Projection:||USD 28.25 Billion|
|Historical Data for:||2020 to 2022|
|No. of Pages:||120|
|Tables, Charts & Figures:||92|
|Segments covered:||By Product Type, By Material, By End-User, Country Statistics (Demand, Price, Growth, Competitors, Challenges)|
|Companies Covered:||Kaji Jewellery Art, MIKIMOTO, Tasaki, AHKAH, NIWAKA, STARJEWERLY, Vandome Aoyama, Ponte Vecchio, COCOSHNIK, Fujimori, MARUZEN, Tanaka Galvanizing, Nikka Seiko and Others.|
|Pitfalls & Challenges:||COVID-19 has the potential to impact the global market|
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The expanding prominence of brands and styles, a growing customer base for men's diamond jewelry in Japan, and new opportunities in everyday usage of diamond jewelry in Japan have all facilitated the market. Furthermore, the industry has been encouraged by strong demand for special occasions, increased importance for trademarks and styles, an emerging market for men's diamond jewelry in Japan, and innovative designs in everyday use of diamond jewelry in Japan. As a result, men's growing acceptance of jewelry is also boosting the market. Wedding ornamental objects also play an important part in propelling the market. Whether it is related to jewelry and accessories, women are focused on the latest trends. Moreover, increased awareness concerning the reliability of the metals and jewels used in jewelry is propelling the industry. The makers are required to follow authenticity and high-quality standards, but they also educate consumers via marketing initiatives.
- In 2022, the ring segment is witnessing a higher growth rate over the forecast period.
Based on the product type, the Japan Jewelry Market is segmented into necklace, ring, earring, bracelet, and others. Among them, the ring segment is expected to develop at a faster rate over the projected period. The increased customer appetite for customized products has prompted ring vendors to provide a variety of personalization possibilities. Increased ring sales in Japan are mostly driven by rising demand for engagement and wedding rings, as well as increasing demand for corporate attire. The increased sale of rings among the male customer segment has been a prominent market development in recent years.
- In 2022, the gold segment accounted for the largest revenue share of more than 47.8% over the forecast period.
On the basis of material, the Japan Jewelry Market is segmented into gold, platinum, diamond, and others. Among these, the gold segment is dominating the market with the largest revenue share of 47.8% over the forecast period. Jewelry made of yellow, white, rose, and green gold comes in a variety of patterns and styles, depending on the metal combination utilized. For example, yellow gold is alloyed with silver, copper, and zinc. White gold is a gold alloy containing a minimum of one white metal, most commonly nickel, silver, or palladium. Rose gold is a combination of gold, copper, and silver, whereas green gold is a combination of gold and silver including residues of copper along with additional metals. Gold ornaments are also regarded as an excellent financial investment and a backup in the event of inflation, market collapse, bankruptcy, and other factors that drive the consumption rate higher.
- In 2022, the women end-user segment accounted for the largest revenue share of more than 59.2% over the forecast period.
On the basis of end-user, the Japan Jewelry Market is segmented into men and women. Among these, the women end-user segment is dominating the market with the largest revenue share of 59.2% over the forecast period. This dominance can be linked to a shifting of women's focus on diamond jewelry and high-end gold, as well as a growth in spending power backed by the Japanese working women population, which drives demand for luxury jewelry market. High durability, ease of use, and variety in patterns supplied by various jewelry makers entice women buyers to acquire luxury fashion accessories and jewelry, contributing to the expansion of the Japan luxury jewelry market.
The report offers the appropriate analysis of the key organizations/companies involved within the Japan Jewelry Market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
List of Key Companies
- Kaji Jewellery Art
- Vandome Aoyama
- Ponte Vecchio
- Tanaka Galvanizing
- Nikka Seiko
Key Target Audience
- Market Players
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
This study forecasts revenue at global, regional, and country levels from 2021 to 2032. Spherical Insights has segmented the Japan Jewelry Market based on the below-mentioned segments:
Japan Jewelry Market, By Product Type
Japan Jewelry Market, By Material
Japan Jewelry Market, By End-user
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