Editor’s Note
This article examines the rising consumer demand for costume jewelry, driven by a growing emphasis on personal style among younger generations. It highlights how social media and fast fashion fuel this trend, creating a market for affordable, frequently updated accessories.
Growing focus on self-expression and style has caused consumers, particularly millennials and Gen Z, to spend on stylish, affordable accessories such as costume jewelry. Such consumers regularly change their fashion trends, generating consistent demand for new designs. Social media, fashion influencers, and fast fashion companies also enhance style consciousness, promoting repetitive buying. Costume jewelry, as it is economical and easily accessible, is perfectly suited to fit into the rapidly changing fashion trend. In April 2023, fashion company Coach introduced its debut costume jewelry collection “Coach Jewels” with recycled material-based necklaces, earrings, and bracelets.
The size of the Global Costume Jewelry Market stood at US$ 30.66 billion in 2024 and is forecast to reach US$ 56.04 billion through 2033, growing at a CAGR of 6.93% during the period from 2025-2033. Drivers include increases in disposable incomes, changing styles of fashion, and growing consumption for luxury goods, with tremendous growth contributions originating from emerging countries and the web-based retail business.
E-commerce growth has transformed the marketing and sale of costume jewelry. Online sites provide wide variety, convenience, and affordable price comparison, enticing technology-savvy buyers. Global markets can be accessed by brands without the need for large investments in physical outlets. Moreover, social commerce through Instagram and TikTok enables smaller designers and niche brands to showcase distinctive designs, increasing market reach and customer interaction.
Since luxury jewelry can be prohibitively expensive, customers are looking to costume jewelry to create similar looks at a fraction of the price. With great imitation options available, it is now more accessible for individuals to have luxury looks every day. As work-at-home habits and casual wear continue to gain popularity, so has the demand for lightweight, versatile accessories that complement office and casual wear, propelling the development of costume jewelry.
Costume jewelry, by nature, uses low-cost materials, which often lack the durability and longevity of fine jewelry. This can lead to issues like tarnishing, breakage, and skin irritation, affecting customer satisfaction. Brands face pressure to balance affordability with quality while maintaining aesthetic appeal. Poor-quality products may deter repeat purchases and harm brand reputation, especially when sold online where customers rely on images and reviews.
The market for costume jewelry is extremely fragmented, with lots of small competitors, fast-fashion brands, and online retailers vying intensely on price and fashion. This saturation leads to a race to the bottom in price, squeezing margins and diminishing profitability. Additionally, consumers tend to anticipate regular fashion refreshes, introducing inventory and production complexities. Brands have to invest in design innovation, marketing, and customer experience, all on tight resources, to remain competitive.
Report Attribute | Details
— | —
No. of Pages | 200
Forecast Period | 2024-2033
Estimated Market Value (USD) in 2024 | $30.66 Billion
Forecasted Market Value (USD) by 2033 | $56.04 Billion
Compound Annual Growth Rate | 6.9%
Regions Covered | Global