The demand for jewelry is mainly dependent on the disposable income of consumers and the price of gold and silver. Individual companies generate revenues through cost control and efficient operations. Small companies, however, can compete by offering unique product lines. Large companies have an advantage of offering a broader product line which caters to the needs of the consumers changing demands. In addition, efficient distribution operations and efficient production are the keys to their profitability.
The jewelry manufacturing market is segmented on the basis of product types such as gold, platinum, necklaces, earrings, bracelets and brooches among others. Other products include pearls, stones and silver jewelry. Gold and platinum jewelry accounts for the largest market share.
Growth of branded jewelry is also another factor which is fuelling the jewelry manufacturing market globally. Consumers regard branded jewelry as a sign of affluence, lending it an aspirational value. The young consumers wear branded jewelry for self realization and self expression. In addition, brand loyalty of the consumers is another factor which is driving the jewelry manufacturing market globally. Moreover, the broad portfolio of jewelry products is another major factor which is driving the jewelry manufacturing market.
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