New Delhi, June 21, 2019: Rising middle class population coupled with changing lifestyle to fuel India gems and jewelry market through 2024
According to TechSci Research report, “IndiaGems and Jewelry Market By Type, By Distribution Channel,Competition, Forecast & Opportunities, 2024”, gems and jewelry market in India is projected to continue growing in the coming years on account of rising presence of international and domestic players, increasing westernization and aggressive marketing strategies adopted by various players. Changing lifestyle preferences are boosting brand consciousness and inclination of consumers towards western brands, which in turn is resulting in huge demand for exclusive designer jewelry. Moreover, increasing personal disposable income, growing middle class population, improving standard of living in urban areas, and consumer inclination towards investing into gems and jewelries are some of the other factors that would drive the market.
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“India Gems and Jewelry Market”
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South India accounted for the largest market share in 2018 and is expected to continue its market dominance during the forecast period, on the back of increasing disposable income, launch of innovative and imported products,and growing consumer inclination towards western culture. Additionally, the region boasts the presence of leading gems and jewelry market players with multiple exclusive showrooms and multi-brand retail outlets. Malabar Gold Private Limited, Titan Company Limited, Kalyan Jewellers India Private Limited, PC Jewellers Limited and Gitanjali Gems Limited are some of the leading market players.
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According to TechSci Research“Gems and jewelry market is growing at a significant pace in India. Growing purchasing power, rapid urbanization and rising young population coupled with changing consumer preferences and inclination towards innovative products is boosting the demand for different types of jewelry such as diamond in gold jewelry and platinum jewelry across the country. All the above-mentioned factors would provide lucrative growth opportunities to players operating in India gems and jewelry market over the course of next five years.”, said, Mr. Karan Chechi Research Director with TechSci Research, a research-basedglobal management consulting firm.
“India Gems and Jewelry Market By Type, By Distribution Channel, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of gems and jewelry market in India and provides statistics and information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in Indiagems and jewelry market.
Corporate Comm India(CCI Newswire)
