The jewellery box market is experiencing growth due to the increasing demand for luxurious and high-end jewellery storage options. A jewellery box serves not only as a storage space for jewellery but also as a symbol of wealth, elegance, and style for those who value their jewellery collections.
The market for jewellery boxes is projected to expand from an estimated value of US$146.8 million in 2021 to US$249.2 million by the end of 2032. The market is expected to grow at a compound annual growth rate (CAGR) of 5.0% between 2022 and 2032.
The market can be segmented based on end users, including residential and commercial users. Residential users purchase jewellery boxes for personal use, while commercial users include jewellery manufacturers and retailers who provide boxes to their customers.
Sustainability is a significant factor influencing the jewellery box market as consumers become more conscious of the environmental impact of their purchases. In response to this growing demand, companies are offering jewellery boxes made from eco-friendly materials such as bamboo, recycled paper, and biodegradable polymers.
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The Asia-Pacific region has the largest market for jewellery boxes due to the concentration of jewellery manufacturers and sellers in the region. North America and Europe are also significant markets for jewellery boxes, driven by the demand for upscale and luxurious jewellery storage options.
In conclusion, the growing demand for luxurious and expensive jewellery storage solutions is driving the growth of the jewellery box market. The increasing consumer preference for eco-friendly products and environmental consciousness is expected to further fuel market expansion, offering significant opportunities for industry participants.
Key Takeaways from Jewellery Box Market
- Based on the material, the paper segment is estimated to hold around 57% of the market value share by the end of 2022.
- The ring & earrings segment is projected to expand 1.6x the current market value during 2022-32.
- By distribution channel, the retail store is projected to create an incremental opportunity of US$ 32.2 Mn during the forecast period.
- North America and East Asia are estimated to account for 55% of the total sales in jewellery box market in 2022.
- India is expected to be the most lucrative jewellery market in South Asia owing to the growing preference for premium jewellery items
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“Rising preference for eye-catching & protective packaging solutions in the luxury product industry including jewellery will augment the sales of the jewellery box.”– says FMI analyst
Competitive Landscape
The global jewellery box market is extremely fragmented and competitive. Key players use a variety of marketing techniques, including mergers & acquisitions, expansions, collaborations, and partnerships.
Leading organisations also use new product creation as a strategic way to expand their market presence among customers. Advanced jewellery box have been incorporated as a result of these tactics. Some of the recent developments in the market are as follows –
- In January, 2022, Finer Packaging has introduced small and desirable jewellery boxes in the market. Some expensive products have a permanent class in the market. So they have introduced the best new and small boxes for the customer to attract towards the buying process.
- In November, 2021. McLaren Packaging Ltd. Has celebrated its 40th anniversary with a record turnover and capital investment. They have achieved their target of US$ 20 Mn in 2020 and now is on track to turnover US$ 31.4 Mn in a financial year with a total employee of 240 members.
Key Players:
- Dahlinger GmbH and Co KG
- Potters Limited
- Holmen AB ADR
- McLaren Packaging Ltd.
- Taylor Box Company
- Thomas Sabo GmbH and Company KG
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Jewellery Box Market by Category
By Material:
- Wood
- Leather
- Paper
- Metal
- Glass
- Plastic
By Distribution Channel:
- Offline
- Hypermarket & Supermarket
- Retail Store
- Convenient Store
- Other Offline Store
- Online
By Application:
- Necklace
- Bracelet
- Ring & Earring
- Watches
- Other Applications (Anklets, Nose Pin, etc.)
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