Wedding Rings Market Overview:
The primary goal of this research is to assist the user in understanding the Wedding Rings Market in terms of definition, segmentation, market potential, significant trends, and the problems that the Wedding Rings industry faces in key regions and nations. The market statistics and information were obtained from credible sources such as websites, annual reports of businesses, journals, and others, and were examined and validated by industry professionals.
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Wedding Rings Market Scope:
The market statistics and information were obtained from credible sources such as websites, annual reports of businesses, journals, and others, and were examined and validated by industry professionals.
Wedding Rings Market Segmentation:
In terms of product, the Gold category held a 38% market share in 2022. It is among the priciest and most widely utilized metals for making wedding bands. The most favored metals are rose, yellow, and white gold due to their durability and malleability. Major substitutes for white gold are 18k and 14k. When compared to all other portions, this one is less expensive.
Over the course of the projection period, platinum is anticipated to increase at a CAGR of 6.5%. Owing to its strength, purity, and rarity, it is regarded as one of the most valuable jewelry metals. It is heavier than most metals and is primarily used as a secure diamond setting.
In terms of End Users, the Women category held a 60% market share in 2022. The drivers propelling the growth of this market include women’s preferences for jewelry, dressing up for costumes, following trends on social media, and succumbing to peer pressure.
Over the course of the forecast period, the men’s market is anticipated to expand at a CAGR of 5%. Men’s jewelry is becoming more widely accepted, and influencers are embracing celebrity culture. In response to the growing number of same-sex unions and gender-neutral fashion trends, Tiffany & Co. announced the release of its first-ever men’s engagement ring. Over the course of the projected period, these elements are anticipated to propel the segment’s growth.
In 2022, the Offline sector held a 74% market share in terms of Distribution Channel. Brick-and-mortar stores are preferred by customers when purchasing expensive things because they are more dependable and allow them to handle and feel the merchandise. Businesses are concentrating on mono-brand retail because it allows them greater control over their brands, direct consumer interaction, and increased profit possibilities. The market’s segment expansion is being driven by these factors.
1. Wedding Rings Market, by Product (2022-2029)
• Gold
• Diamond
• Platinum
• Others
2. Wedding Rings Market, by End User (2022-2029)
• Men
• Women
3. Wedding Rings Market, by Distribution Channel (2022-2029)
• Offline
• Online
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Wedding Rings Market Key Players: The study discusses the key market players who are engaged in the industry, such as market players, raw material suppliers, equipment suppliers, end users, traders, distributors, and so on. The key players in the Wedding Rings market are
1. Cartier International SNC
2. Charles & Colvard, Ltd.
3. CrownRing
4. David Yurman Enterprises LLC
5. H. Samuel
6. Harry Winston, Inc.
7. Louis Vuitton
8. Pandora A/S
9. Robbins Bros. Jewelery, Inc.
10. Swarovski AG
11. Tiffany & Co.
12. Laofengxiang
13. Chow Tai Fook
14. Chow Sang Sang
15. Lukfook
16. Mingr
17. LVMH
18. Harry Winston
19. CHJD
20. Yuyuan
21. TSL
22. Van Cleef&Arpels
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Regional Analysis:
The report focuses on Global Regions and Market Size of Wedding Rings, and development forecast 2021-2027, including industries, major players, suppliers worldwide, and market share by regions, with company and product introduction, position in the market including their market status and development trend by types and applications, which will provide its price and profit status, and marketing status, with 2020 as the base year.
COVID-19 Impact Analysis on Wedding Rings Market:
The report discusses the impact of COVID-19: Since the breakout of the COVID-19 virus in December 2019, the disease has spread to practically every country on the planet, prompting the WHO to declare it a public health crisis. The worldwide effects of the coronavirus epidemic are already being noticed, and they will have a considerable influence on the Wedding Rings industry in 2021.
Key Questions Answered in the Wedding Rings Market Report are:
- What is the function of Wedding Rings?
- What is the predicted revenue generation of the Wedding Rings market?
- At what growth rate is the Wedding Rings market evolving?
- Who are the major market giants operating in the Wedding Rings market?
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