The India B2B gold jewellery market is expected to observe significant growth by 2031, owing to the importance of gold jewellery in Indian tradition. The South India region generated the largest revenue in 2021.
NEW YORK, June 23, 2023 /PRNewswire/ -- India B2B Gold Jewellery Market Forecast Analysis:
As per the report published by Research Dive, the India B2B gold jewellery market is anticipated to generate a revenue of $29,415.2 million and rise at a CAGR of 3.4% over the estimated period from 2022 to 2031.
Segments of the India B2B Gold Jewellery Market
the report has divided the India B2B gold jewellery market into the following segments:
- Manufacturers: organized manufacturers and unorganized manufacturers
- Organized Manufacturers - Expected to have the fastest growth by 2031
The increasing shift of customers, the rising quality of gold, and the pricing transparency awareness among customers are the factors expected to foster the growth of the market sub-segment over the forecast period. - Wearings: occasional wear, bridal wear, and daily wear
- Bridal Wear - Held the largest market share in 2021
The increasing urbanization and fashion upgrades, technological advancements, increasing luxury weddings, and the entry of local players are expected to amplify the growth of the market sub-segment over the estimated period. - Product Type: neckwear/necklace, earrings, rings, bangles/bracelets, chains, and others
- Bangles/Bracelets - Generated the highest market share in 2021
The increasing preference for gold bangles of 22 carats such as kada, filigree, kundan, and cuffs in Indian women is expected to fortify the growth of the market sub-segment during the analysis timeframe. - Region:North India, South India, East India, and West India
- South India - Registered the maximum market share in 2021
The strong existence of leading market players across the region and the presence of a significant number of talented artists and craftsmen are expected to enhance the regional growth of the market during the estimated period.
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Dynamics of the India B2B Gold Jewellery Market
The importance of gold jewellery in Indian tradition, especially during wedding ceremonies, religious events, and births is expected to propel the growth of the India B2B gold jewellery market during the forecast period. However, the stringent regulations on the import-export of gold jewellery and the high cost of customization may hamper the growth of the market over the analysis timeframe.
The changing dynamics for Indian jewellery such as the abolition of the Gold Control Act, growing liberalization, and other factors to promote the B2B gold jewellery business in India are expected to create wide growth opportunities for the market over the estimated period. Moreover, the changing lifestyles, rising earnings of the population, and jewellery preferences and tastes among individuals across the nation are predicted to augment the growth of the market during the analysis timeframe.
Covid-19 Impact on the India B2B Gold Jewellery Market
The outbreak of the Covid-19 pandemic has devastated several other industries including the India B2B gold jewellery market. This is mainly due to the nationwide lockdowns, strict government-imposed restrictions, and banned travel owing to the rapid spread of the deadly virus. Moreover, several jewelers were forced to close their stores in malls and shopping centers. In addition, the lack of skilled labor during the pandemic has further declined the market growth throughout the crisis.
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Key Players of the India B2B Gold Jewellery Market
The major players of the market include
- Dws Jewellery Pvt. Ltd.
- Vivah Creation
- Dwarka Jewelry
- Essentials Jewelry
- Pinkcity Jewel House P.Ltd
- Gurukrupa Gems
- Kapil Jewels & Art
- Alankeetcreations Llp India
- Nsb Jewels
- Derewala Industries Ltd.
These players are mainly working on developing strategies such as product development, merger and acquisition, partnerships, and collaborations to obtain a leading position in the global industry.
For instance, in November 2020, Emerald Jewel Industry India Limited, one of the leading jewelry manufacturers in India, announced its collaboration with IBM, a leading American multinational technology company. With this collaboration, Emerald launched "Tej", its first AI-enabled mobile application platform powering the B2B business of Emerald jewellery in India.
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What the Report Covers
Apart from the information summarized in this press release, the final report covers crucial aspects of the market including SWOT analysis, market overview, Porter's five forces analysis, market dynamics, segmentation (key market trends, forecast analysis, and regional analysis), and company profiles (company overview, operating business segments, product portfolio, financial performance, and latest strategic moves and developments.)
More about India B2B Gold Jewellery Market:
- Unleash the Beauty of Gold: Discover India's Best B2B Gold Jewelry
- India B2B Gold Jewellery Market to Experience Noteworthy Growth by 2031 with Changing Dynamics in Indian Jewellery
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About Research Dive
Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With an unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.
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