The global leather jewellery box market is expected to create a valuation of US$ 12.4 Mn in 2022, and further expand at a CAGR of 4.9% to reach US$ 20.0 Mn by 2032.
Based on the partition, the without-partition segment is expected to remain the leading segment for the global leather jewellery box market. The same segment is estimated to account for around 62% of the market value share by the end of 2032.
Market Size 2022
US$ 12.4 Mn
Market Size 2032
US$ 20.0 Mn
Value CAGR (2022-2032)
4.9%
Collective Value Share: Top 3 Countries (2022E)
25-30%
The global leather jewellery box market forms around 7-9% of the overall jewellery box market worth US$ 147.0 Mn in 2021.
According to the FMI analysis, the leather jewellery box market totaled revenue of US$ 11.9 Mnin 2021 and is estimated to be worth US$ 20.0 Mn by the end of the next ten years, expanding at a CAGR of 4.9% during 2022-2032. The sales of leather jewellery boxes will boost with the top 3 countries estimated to hold 25-30% of the global leather jewellery box market by the end of 2022.
The leather jewellery box market is estimated to experience a positive growth outlook by the end of 2022. A new forecast by FMI estimates that leather jewellery box sales will rise during the forecast period and is projected to create a growth incremental growth opportunity of US$ 8.1 Mn.
The increased usage of jewellery is the major factor boosting the demand for leather jewellery boxes across the globe. The leather jewellery box market is projected to grow 1.7 times the current market value during 2022 to 2032.
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Historic Market Outlook for Leather Jewellery Box Market
The global leather jewellery box market witnessed a growth rate of 4.3% during 2015-2021 and reached US$ 11.9 Mnin 2021.
leather jewellery boxes are useful for storing and organizing bracelets, necklaces, earrings, and rings, as well as keeping precious stones safe. Consumers with increased purchasing power now own multiple pieces of jewellery; a leather jewellery box aids in keeping all of the pieces tidy and neatly organized.
The jewellery market has seen significant growth in recent years, which has boosted the market for leather jewellery boxes. When making the buying choice of jewellery, the quality of the packaging of that product also plays a crucial role in the decision-making process. The increasing demand for jewellery to keep that jewellery safe from any kind of damage is anticipated to boost the demand for the leather jewellery box market during the forecasted period.
Which Factors Drive the Demand for Leather Jewellery Box?
The packaging of luxury items such as jewellery, perfumes, and other items is a major concern for sellers and manufacturers. The luxury item needed to be packaged in appealing packaging, such as a box. Keeping the competitive edge in mind, leather jewellery box manufacturers are introducing innovative and aesthetic looks boxes to boost their customer base. Boxes are used not only to protect a product from losses but also help to advertise and branding of that product. Customers are willing to pay more for the stylish box because it provides a unique customer experience while unboxing the product.
The leather jewellery box can be customized according to size and requirements, which attracts jewellery manufacturers and sellers. This aids in the creation of the brand image in the minds of customers. Overall, the leather jewellery box offers protection to the product along with enhancing customer experience boosting the demand for the same during the forecast period.
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Category-wise Insights
Which Distribution Channel is estimated to hold the Major Portion of the Global Leather Jewellery Box Market?
By distribution channel, the offline distribution channel segment is estimated to hold the major portion of the global leather jewellery box market. The target segment is projected to register a CAGR of 4.5% during the forecast period due to its sustainability benefit. The reason behind this is consumers are more concerned about how the jewellery will look on them which cannot be seen in online purchasing mode and also as jewellery is an expensive and luxurious product consumers won’t rely on the online distribution channel
Which Application Segment Generates Sturdy Demand for the Leather Jewellery Box?
The rings and earrings segment generates sturdy demand in the application industry because consumers are more inclined towards wearing small and delicate rings and earrings. People are not willing to wear big ornaments so the market for rings and earring is high. Wearing a ring can bring out the grace and delicateness of the hand. A ring is also worn as a sign of love and obedience.
Rings and earrings increase the beauty of humans especially women and earrings are also worn for religious beliefs, status symbols, and aesthetic reasons. The market share of rings and earrings is expected to hold 48%.
Country-wise insights
Why the U.S. Has a Prominent Market Share in Jewellery Box Market?
According to Jewellers of America, the U.S. has more than 8000 stores across the USA and this is still increasing day by day. Weddings are the primary reason for the huge consumption of gold because they have long been a part of Western culture. As gold can be used as a hedge against both inflation and deflation, as well as a good portfolio diversifier. Further, many people started investing their money in gold as they think is the best investment for the long term in the market which is the safe side when some want the money back in an emergency period. The U.S. is expected to hold around 82% market share of the North American jewellery box market during 2022-2032.
How Does the Increased Production of Jewellery in India Create a Growth Opportunity for the Leather Jewellery Box Market?
The Indian leather jewellery box market is projected to expand at a CAGR of 3.9% during the forecasted period. Gold and jewellery are an integral part of India, people are habituated toward wearing them. According to the World Gold Council, the gold industry contributes around 1.3% to the Indian GDP, and around 35% market share is acquired by chain stores in 2021. Thus, the higher demand for jewellery in India is anticipated to create a growth opportunity for the leather jewellery box market.
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Competitive Landscape
The key players for leather jewellery box are trying to capture the market by expanding their presence and launching new leather jewellery box. The key players are adopting collaboration or partnership strategies to expand their resources and footprint. Some of the latest developments by the key players are as follows –
In January 2022, Guangdong Deqi Packaging Co., Ltd. signed a cooperation agreement with the China Foreign Trade Center Group and will be the packaging and printing supplier of the China Import and Export Fair (Canton Fair) from 2022 to 2025.
In January 2022, Westpack A/S partnered with Adelis headquartered in Holstebro, Denmark for international expansion.
Scope of the Report
Attribute
Details
Growth Rate
CAGR of 4.9% from 2022 to 2032
Base Year for Estimation
2021
Historical Data
2015-2020
Forecast Period
2022-2032
Quantitative Units
Revenue in USD Million, Volume in Units, and CAGR from 2022-2032
Report Coverage
Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis
Segments Covered
Partition
Distribution Channel
Application
Regions Covered
North America
Latin America
Europe
East Asia
South Asia
Middle East and Africa (MEA)
Oceania
Key Countries Covered
US
Canada
Mexico
Brazil
Germany
U.K.
France
Italy
Spain
Russia
China
Japan
India
GCC countries
Australia
Key Companies Profiled
Guangdong Deqi Packaging Co., Ltd.
Westpack A/S
SACHER & Co. GmbH
Keep Promise Packaging Industrial Co., Ltd.
THE JEWELLER'S BOX COMPANY
Dahlinger GmbH and Co KG
LEATHER TALKS
HIPC VIETNAM
PIÑAVALL
AGB Box Production Export Import Industry Co. Ltd.
Sunford Corporation Ltd/S.C.Ltd
Banbros Exports Pvt. Ltd.
KLING GMBH
Noble Gift Packaging Ltd.
Malaguti Cases
Floriani astucci srl
The Cosimo Guide Case
Leather Jewellery Box by Category
By Partition, Leather Jewellery Box are Segmented as:
With Partition
Without Partition
By Distribution Channel, Leather Jewellery Box Market is Segmented as:
Offline
Hypermarket & Supermarket
Retail Store
Convenient Store
Other Offline Store
Online
By Application, Leather Jewellery Box are Segmented as:
Necklace
Bracelet
Ring & Earring
Watches
Other Applications (Anklets, Nose Pin, etc.)
By Region, Leather Jewellery Box Market is Segmented as:
North America
Latin America
Europe
South Asia
East Asia
Middle East & Africa (MEA)
Oceania
Frequently Asked Questions
What was the value of the leather jewellery box market in 2021?
The global leather jewellery box market reached US$ 11.9 Mn in 2021.
What was the historic growth rate for the global leather jewellery box market?
The leather jewellery box market expanded at a CAGR of 4.3% during 2015-2021.
What will the value of the global leather jewellery box market be by the end of 2032?
By 2032, the global leather jewellery box market is projected to reach US$ 20.0 Mn.
At what rate is the global leather jewellery box market anticipated to grow?
During 2022-2032, the global leather jewellery box market is anticipated to register a CAGR of 4.9%.
What is the future growth outlook for the global leather jewellery box market?
The leather jewellery box market is estimated to grow 1.7 times the current market value during the forecast period.
What supplements the demand for leather jewellery box across the globe?
The leather jewellery box offers protection to the product along with enhancing customer experience boosting the demand for the leather jewellery box across the globe.
Which are the key players operating in the global leather jewellery box market?
Guangdong Deqi Packaging Co., Ltd., Westpack Denmark, SACHER & Co. GmbH, Keep Promise Packaging Industrial Co., Ltd., THE JEWELLER'S BOX COMPANY, Dahlinger GmbH, and Co KG are the key players operating in the global leather jewellery box market.
At what rate is the India leather jewellery box Market projected to grow?
As per the FMI analysis, the Indian leather jewellery box market is projected to expand at a CAGR of 3.9% during 2022-32.
