Imitation jewelry has evolved as a trendsetter in the ever-changing world of fashion, providing economic and elegant alternatives to traditional jewelry. Recently, the global market for imitation jewelry has grown significantly, making it a profitable endeavor for exporters. Based on artificial Jewelry Export Data, The overall value of global imitation jewelry exports reached $12.3 billion in 2022, a 5.7% increase over 2021. In this definitive blog, we delve into the complexities of Imitation jewelry export data, investigating the most recent trends, significant market information.
Did you know that? Indians have a fascination with jewels. Gold, silver, and diamond jewelry have traditionally played an essential role in Indian culture. However, many people have turned to modern and artificial jewelry due to price increases.
According to imitation jewelry trade data, the demand for synthetic jewelry has surged by over 85 percent. Furthermore, the imitation jewelry industry is one of the largest in the world, accounting for 5.9 percent of the Indian economy's GDP.
The rise in the value of the imitation jewelry market can be attributed to various factors, including increasing brand globalization, rising prices of Gold and other precious stones and pearls, the growing popularity of e-commerce platforms, particularly in developing economies, and rising personal disposable income.
As per export data for imitation jewelry, the overall value of global imitation jewelry exports reached $12.3 billion in 2022, a 5.7% increase over 2021. However, India is the foremost exporter of imitation jewelry, accounting for 32.6% of global exports in 2022. China stands in second with a market share of 26.4%. Turkey, Thailand, and Vietnam are all big exporters.
Earrings are the most common product type in the imitation jewelry export market, accounting for 24.4% of total shipments in 2022, as per artificial Jewelry Export Data. Necklaces are the second most popular category, accounting for 19.3% of the market. Bracelets, rings, and pendants are among the other primary product categories. Based on jewelry export data, India's demand for gems and jewelry reached an approximate value of US$78.50 billion in FY21. In 2021–2022, India's gem and jewellery exports reached US$ 39.14 billion, rising 54.13% from the previous year, per jewelry export data. Know more about the Jewellery Trade Market in India.
According to the imitation jewelry export data, the top exporters of imitation jewellery in 2022 were:
So, China is the leading exporter of imitation jewelry, accounting for over a third of global
exports. However, in 2021, India shipped $157 million in imitation jewellery, making it the world's sixth-largest exporter. The same year, imitation jewellery was India's 337th most exported product.
Based on artificial jewelry export data, the top five destinations for Indian imitation jewelry exports are the United States ($37.3 million), the United Kingdom ($12 million), Nigeria ($10.5 million), the United Arab Emirates ($10.2 million), and Afghanistan ($8.43 million). Moreover, If you are a trader looking for updated and reliable gold export data, you can connect with Seair Exim Solutions. We provide India export import data and HS codes for your required products.
Also Read: India’s Top 10 Exports And Who Buys Them
There are several key trends are shaping the global imitation jewelry export market, including:
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Imitation jewelry is frequently chastised for its inferior quality compared to genuine jewelry. Consumers may hesitate to buy replica jewelry because of concerns about durability and the possibility of skin reactions or discoloration.
Imitation jewelry goods flood the market, undermining the reputation of actual imitation jewelry firms and decreasing consumer trust. It can also result in legal issues for authorized manufacturers.
Due to their use of inadequate market information, traders need help with exporting jewelry products. It is advisable to obtain export data on imitation jewelry from reputable trade platforms that can meet their quality standards and provide the most updated information. One of the best market research platforms is Seair Exim Solutions, where you can obtain the HS Code for artificial jewelry.
Imitation jewelry has long been an integral component of the Indian fashion industry. In India, the market for imitation jewels is expanding steadily and has the potential to increase more in the coming years. It appeals to various customers by providing an economical and appealing alternative to authentic jewelry.
The emphasis on design and modifications has also made it popular with millennials. With the rise of e-commerce and the fashion sector, the size of the imitation jewellery market in India is likely to grow in the following years. With the expanding popularity of imitation jewellery and rising client demand, it is safe to assume that the future of the imitation jewellery market in India seems promising.
Visit the Seair Exim Solutions portal to access the real-time jewelry export database and locate accurate and up-to-date artificial jewellery exporters data.
We deliver accurate and actual India export import data, HS Codes, and other information. Finding gold export data is a difficult task for merchants. Seair Exim Solutions is one of India's leading import-export data providers. It provides 100% genuine, reliable gold and diamond market statistics. Seair Exim Solutions can be your most satisfactory service provider if you are looking for authorized global trade data. Reach info@seair.co.in today and quickly obtain a free live demo!
Q1. Who is the biggest exporter of jewellery?
As per Jewellery export data, China is the world's leading exporter of gold, silverware, and jewellery in 2022. Also, it was the world's biggest exporter of gold, silverware, and jewellery, with an export value of over $20.43 billion.
Q2. Does India export jewellery?
According to the Gem and Jewellery Export data, India's overall gems and jewellery exports declined by 11.49% to ?22,873.19 crore ($2,748.01 million) in October 2022.
Q3. Who is the biggest importer of imitation jewelry?
Based on imitation jewellery importers data, India is the world's largest importer of imitation jewellery, sourcing the most of it from China, Thailand, and Austria.
Q4. Who is the biggest exporter of artificial jewellery?
India is the world's leading exporter of artificial jewellery, accounting for 32.6% of total exports in 2022. China ranks second with a market share of 26.4%. Turkey, Thailand, and Vietnam are all major exporters.
Q5. Which country India export most jewellery to?
According to Jewellery export data, India exports the majority of its gold jewellery to the United States, United Arab Emirates, and the United Kingdom, making it the world's largest exporter of gold jewellery.
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