India: Imitation Jewellery Market 2024

Imitation Jewellery Market Size in India

The Indian imitation jewellery market surged to $X in 2022, with an increase of X% against the previous year. Overall, consumption recorded a relatively flat trend pattern. Imitation jewellery consumption peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Imitation Jewellery Production in India

In value terms, imitation jewellery production declined slightly to $X in 2022 estimated in export price. In general, production, however, recorded a deep downturn. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. Over the period under review, production attained the maximum level at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

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Imitation Jewellery Exports

Exports from India

Imitation jewellery exports from India shrank to X tons in 2022, falling by X% compared with 2021. Over the period under review, exports faced a abrupt shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, imitation jewellery exports contracted to $X in 2022. Overall, exports recorded a deep slump. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates (X tons) was the main destination for imitation jewellery exports from India, accounting for a X% share of total exports. Moreover, imitation jewellery exports to the United Arab Emirates exceeded the volume sent to the second major destination, the United States (X tons), fourfold. The third position in this ranking was taken by Malaysia (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United Arab Emirates was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Malaysia (X% per year).

In value terms, the United States ($X) remains the key foreign market for imitation jewelry exports from India, comprising X% of total exports. The second position in the ranking was held by the UK ($X), with an X% share of total exports. It was followed by Spain, with a X% share.

From 2012 to 2022, the average annual growth rate of value to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (X% per year) and Spain (X% per year).

Export Prices by Country

In 2022, the average imitation jewellery export price amounted to $X per ton, increasing by X% against the previous year. Over the period under review, the export price enjoyed a tangible expansion. The growth pace was the most rapid in 2014 when the average export price increased by X% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Yemen ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Bangladesh (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imitation Jewellery Imports

Imports into India

In 2022, supplies from abroad of imitation jewelry decreased by X% to X tons, falling for the third consecutive year after four years of growth. In general, imports recorded a slight decline. The pace of growth was the most pronounced in 2017 when imports increased by X%. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, imitation jewellery imports soared to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest imitation jewellery supplier to India, accounting for a X% share of total imports. Moreover, imitation jewellery imports from China exceeded the figures recorded by the second-largest supplier, Hong Kong SAR (X tons), sixfold. The third position in this ranking was taken by Spain (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (X% per year) and Spain (X% per year).

In value terms, the largest imitation jewellery suppliers to India were China ($X), Hong Kong SAR ($X) and Singapore ($X), together accounting for X% of total imports.

Singapore, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average imitation jewellery import price stood at $X per ton in 2022, growing by X% against the previous year. Over the period under review, the import price saw measured growth. The pace of growth appeared the most rapid in 2021 when the average import price increased by X%. The import price peaked at $X per ton in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Singapore ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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