Major companies in the jewelry and silverware market include Richline Group; Tiffany; James Avery Craftsman; Cartier and Bulgari. The global jewelry and silverware market is expected to grow from $190.
New York, Feb. 17, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Jewelry And Silverware Global Market Report 2021: COVID 19 Impact and Recovery to 2030" - https://www.reportlinker.com/p06025299/?utm_source=GNW
09 billion in 2020 to $200.72 billion in 2021 at a compound annual growth rate (CAGR) of 5.6%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $257.01 billion in 2025 at a CAGR of 6%.
The jewelry and silverware market consists of sales of jewelry and silverware by entities (organizations, sole traders and partnerships) that produce engrave, chase or etch jewelry, novelties or precious metal flatware; stamp coins; cut, slab, tumble, carve, engrave, polish or facet or recut, repolish or reset precious or semiprecious stones. The jewelry and silverware market is segmented into jewelry and silverware.
Asia Pacific was the largest region in the global jewelry and silverware market, accounting for 45% of the market in 2020. North America was the second largest region accounting for 24% of the global jewelry and silverware market. South America was the smallest region in the global jewelry and silverware market.
Jewelry and silverware manufacturers have adopted CAD software due to its finest measurement providing capability. CAD or computer aided design software is used by engineers and architects for creating accurate drawings of objects. Using CAD in jewelry making has enabled the manufacturers to easily customize the jewelries with high precision according as per customer requirements. It helps in lowering the manufacturing cost by creating a virtual model and replicating it during manufacturing.
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