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Global Pearl Ring Market Overview
The global pearl ring market was valued at US$ XX million in 2019, and is expected to reach US$ XX million in 2029.
Natural pearls are generally produced inside the soft tissue of a living mollusk. Pearls are hard and glisten in sunlight. Ideal pearls are perfectly round & smooth and are used as embellishments in n pieces of jewelry. Numerous aspects are taken into consideration while determining the value of a pearl ring, such as the color, luster, size, smoothness, etc. The most expensive & rare pearls are usually stored as collectibles.
Global Pearl Ring Market Dynamics
In recent years, the global economic situation has stabilized, resulting in increased disposable incomes. This is one of many prominent reasons behind the revenue growth of the global pearl ring market.
A significant increase in the number of working women has subsequently resulted in women being able to spend more. Women now invest in expensive jewelry, such as pearl rings, necklaces, etc. The demand for pearl rings has caused big brands to increase their levels of production, which has in turn, contributed to the revenue growth of the global pearl ring market.
Online shopping is another major factor that has been steadily contributing the growth of the global pearl jewelry market. Consumers are beginning to prefer shopping online owing to the wide range of options available, as well as easy payment and convenient home delivery options. Brands are now more focused on penetrating the virtual marketplace to capitalize on their business endeavors.
Pearl rings could be combined with various materials, including diamonds, gold, silver, etc. Diamonds are paired with pearls to make exquisite rings that are not only expensive, but rare as well. The rising demand for pearl rings made with gold and silver are expected to boost the revenue growth of the global pearl ring market.
However, regional price hikes in precious metals like gold could hinder the revenue growth of the global pearl ring market. Regions with a higher population of middle-class consumers may also affect market growth.
Consumer preferences are constantly changing and are being influenced by celebrities through social media platforms. This has drastically warped consumer perception. Wearing pearl jewelry to a workplace or other social environments is now becoming a trend, and is subsequently leading to a boost in the sale of pearl rings and other jewelry pieces. This factor will also aid in the revenue growth of the global pearl ring market over the next 10 years.
Global Pearl Ring Market Regional Analysis
The market in North America registered the highest demand for branded, luxury pearl rings, owing to higher disposable incomes, and the need to maintain one’s personal status quo. The pearl ring market in Europe is expected to grow substantially in the years to come, owing to an increase in the high-net-worth of individuals belonging to this region. Furthermore, the rising number of fashion consciousness working women is another crucial factor contributing to the revenue growth of this market. Asia Pacific’s growing population of middle-class customers that are keen on investing in expensive jewelry is another prominent factor that will aid in the further expansion of the global pearl ring market.
Global Pearl Ring Market Segmentation
- Pearl and diamond rings
- Pearl and gold rings
- Pearl and silver rings
- North America
- Asia Pacific
- Latin America
- The Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Stewart Dawsons
- Tiffany & Co.
- Ernest Jones
- West & Co.
- Gemporia Ltd.
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