The Chinese market for jewelry has been expanding size in urban and rural areas.
San Francisco, CA (PRWEB) November 24, 2012
Over the five years through 2012, revenue for the Jewelry Manufacturing industry in China has been growing 12.0% annually to reach $53.8 billion. China is the second-largest jewelry-manufacturing and jewelry-consuming country in the word, supplying a vast domestic market and many foreign countries.
Exports contribute over a third of industry revenue, says IBISWorld, while imports satisfy almost a third of domestic demand.
The industry's concentration level is low, with revenue of the top four jewelry companies – Shanghai Laofengxiang, Chow Tai Fook, Conghua Donglin Diamond and Kinye Group – accounting for about 20% of industry revenue. There are very few large-scale enterprises in the Jewelry Manufacturing industry and many subdivided market segments; therefore, no one manufacturer dominates the market. Many enterprises process jewelry for foreign enterprises and large-scale domestic enterprises. Processing businesses are important sources of income for these companies.
The domestic market for jewelry has been expanding size in urban and rural areas, although consumer demand is very different in these two markets. In urban markets, customers focus on design, quality, raw materials and brand. Products such as gold, platinum, silver, diamond, and precious stone jewelry are very popular in urban markets, especially for high-end jewelry. While gold and silver jewelry is very popular rural markets, these items are priced lower, especially for rings, necklaces, bracelets and earrings.
Over the next five years, the product structure within the Jewelry Manufacturing industry in China will remain relatively steady, with gold, diamond and platinum jewelry as the main products, says IBISWorld. An increase in diamond and platinum jewelry will mainly come from urban markets, where customers with higher income levels pay more attention to product design and quality.
For more information, visit IBISWorld’s Jewelry Manufacturing in China industry report page.
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IBISWorld Industry Report Key Topics
Firms in the Jewelry Manufacturing industry in China manufacture a wide range of jewelry products, including necklaces, rings, earrings, bracelets, brooches, diamond jewelry, cultured pearl jewelry, precious or semi-precious stone jewelry, as well as jewelry parts and components. The industry's products are made from precious metals (gold, silver and platinum), precious metal alloys, diamonds, emeralds, pearls, jade and other precious and semi-precious stones.
Key External Drivers
Industry Life Cycle
Products & Markets
Products & Services
Globalization & Trade
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
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