Rapid urbanisation, an increase in online jewellery sales, an increase in the number of fashion-conscious consumers, and a surge in demand for artificial jewellery are driving the growth of the India costume jewellery market. However, strict regulations on import and export of goods, as well as less durability, impede market growth. On the other hand, appealing marketing strategies and the automation trend present new opportunities in the coming years. Furthermore, rising demand for the product as a result of a growing working population has been propelling market demand in recent years. A growing number of manufacturers have introduced a variety of low-cost options, resulting in increased popularity among young people, corporate workers, and working women. This has resulted in an increase in product demand over the last five years. The frequent price changes in gold and silver have also played a significant role in the product's increased demand.
Costume Jewelry has gained traction in the emerging market as a result of changes in lifestyle, an increase in disposable income, and a rise in the prices of precious metal jewellery, which contributes to the growth of the costume jewellery market size. Furthermore, female consumers' increased fashion consciousness and increased adoption of jewelries such as necklaces, rings, and bracelets drive the growth of the Costume Jewelry Market. Furthermore, changes in jewellery packaging styles fuel the growth of the costume jewellery market. Furthermore, aggressive advertising and celebrity endorsement have aided the costume jewellery industry's growth. However, factors impeding market growth include rising raw material prices for costume jewellery and the jewelry's short-term popularity. On the contrary, increased urbanisation, increased fashion consciousness among young people, and increased demand for costume jewellery for men provide potential opportunities for manufacturers to innovate.
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