The global chalcedony earrings market is estimated to reach USD 8.36 billion, by 2025, and is projected to grow at a CAGR of 10.5% from 2019 to 2025, according to a new report by Million Insights. The rising popularity of jewelry products and the availability of natural gemstones with large variety is a key factor driving market growth. Additionally, the increasing trend online shopping along with convenient service is also expected to boost market growth.
Chalcedony gemstones are also known to have a positive impact on verbal dexterity and mental flexibility. Moreover, it improves optimism and light-heartedness. These gemstones possess natural properties that heal the respiratory system and helps in lowering blood pressure. The growing awareness among consumers owing to these factors is expected to boost demand for the product.
The availability of various colors, designs, shapes in earrings is anticipated to increase the demand for the product during the forecast period. It keeps its color without incorporating diamonds, and blue sapphire. The affordability and abundant availability of the product is supplementing the fashion needs of the consumer. This factor is projected to exceed the growth of chalcedony earrings market in the next few years.
The retail store channel held the highest market share in the overall market, in 2018. The product is increasing in popularity owing to its high durability and attractive natural designs. In addition, a large investment in the jewelry industry and a high willingness to pay more for jewelry are projected to propel market growth.
Asia Pacific is projected to grow at the fastest CAGR of 11.0% during the forecasted period. China attributes to over 30% demand of the world jewelry products. Increasing consumer awareness and growing fashion trends are key factors which in turn are expected to spur the growth of the market.
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Further key findings from the report suggest:
• Online channel is estimated to account for USD 2.46 billion by the end of 2025 and is projected to grow at a CAGR of over 11.0% over the forecasted period.
• Retail store segment dominated the chalcedony earrings market, in 2018 and is anticipated to account for USD 3.13 billion at the end of 2025.
• Asia Pacific region is expected to grow at highest CAGR of 11.0% during the forecasted period.
• Major players in the market GEMPORIA LTD, Wanderlust Life, Stauer.com, T&CO., Ana Silver Co., The Jewellery Channel Limited, NOVICA United, Inc., Gopali Jewellers, and BLOOM JEWELRY LLC.
Million Insights has segmented the chalcedony earrings market based on distribution channel and region:
Chalcedony Earrings Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
• Retail Store
Chalcedony Earrings Regional Outlook (Revenue, USD Million, 2015 - 2025)
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa