Jewellery and silverware manufacturing market consist of usage of jewellery and silverware sale over the different organizations that produce engrave, chase or cut jewellery, innovations, metal flatware, stamp coins, cut, slab, tumble, carve, engrave, polish or facet or recut, re-polishing or the reset of precious or the semiprecious stones. The development and change in lifestyle & perception of jewellery as a status symbol is supporting and boosting the growth of the market. In addition, growing acceptance of jewellery among men & women is further propelling the market growth. Some of the key jewellery products such as cufflinks, plain gold chains, cufflinks, tie bar, cartography necklaces, and signet rings further witnessing strong demand from men. Nowadays the manufacturers are not only focusing on the authenticity standards but also have developed the new features for educating consumers via their advertising campaigns. Moreover, the market is registering a significant growth via both online and offline medium as the key players have developed their websites to announce product launches, sales, and other relevant information. The usage of gold chains & necklaces are no longer being limited to weddings and functions, these days Men and women both wear rings, plain gold chains, and anklets as a fashion statement. The ornaments such as earrings and bracelets are further used for gifting over various occasions or the events such as birthdays and the anniversaries.
According to the study, “Jewelry And Silverware Manufacturing Global Market Report 2019” some of the key players operating in the market include Richline Group, Tiffany, James Avery Craftsman, Cartier, Bulgari and many others.
The Jewellery & silverware manufacturers have now adopted CAD software owing to its finest measurement providing capability. The CAD or the computer-aided design software are now being used by engineers and the architects for creating accurate drawings of the objects. The use of CAD-based techniques in the jewellery making has enabled manufacturers for customizing the jewellery with high precision as per customer requirements. These have further led to dropping the manufacturing cost by creating a virtual model and replicating it during manufacturing.
The use of bridal jewellery has added momentum in the market. The key countries like India, where a wedding is considered to be a huge event with a lot of rituals and functions. The increase in the expense of wedding functions is expected to support market development. Moreover, women are also focusing on the latest trends of necklaces, hairpins, and bangles.
Based on type the jewellery and silverware manufacturing market are segmented into jewellery manufacturing and silverware manufacturing market. Based on geography jewellery and silverware manufacturing is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. The Asia-Pacific jewellery and silverware manufacturing market accounted for the largest share with nearly half of the overall market, followed by Western Europe accounting for one-fourth of the total market. South America held the smallest share the global jewellery and silverware manufacturing market. The considerable increase in the positive economic outlook, coupled with the growth of e-commerce, government regulations, are expected to support global jewellery and silverware manufacturing market development over the forecast period.
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