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The Jewelry Appraisal Market size is forecast to increase by USD 1.81 billion, at a CAGR of 9.42% between 2023 and 2028. Several factors play a crucial role in the market's growth, such as the rising demand for insurance purposes of jewelry, the increasing popularity of vintage and antique jewelry, and the growing focus on authentication and transparency of jewelry.
The report offers extensive research analysis on the market, with a categorization based on Type, including offline appraisal and online appraisal. It further segments the market by Application, encompassing consultation, insurance, legal purposes, and others. Additionally, the report provides Region segmentation, covering APAC, Europe, North America, Middle East and Africa, and South America. Market size, historical data (2018-2022), and future projections are presented in terms of value (in USD billion) for all the mentioned segments.
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Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
One of the key factors driving the market growth is the increasing popularity of vintage and antique jewelry. Vintage and antique jewelry offers distinctive charm, historical significance, and, often, intrinsic value, unlike mass-produced modern pieces. In addition, as consumers express a growing interest in unique, historical pieces in countries like France, India, UAE, and others, the need for accurate appraisals becomes paramount to assess the authenticity, rarity, and value of these vintage treasures.
Moreover, antique jewelry often features intricate craftsmanship, rare gemstones, and historical significance, making precise appraisal crucial for both buyers and sellers. In addition, a professional appraisal provides valuable information about the origin, materials used, and historical context of the jewelry, contributing to a comprehensive understanding of its worth. Furthermore, the desire to revitalize vintage pieces or give them a modern twist necessitates expert assessment. Hence, such factors are driving the market growth during the forecast period.
A key factor shaping the market growth is the growing adoption of advanced imaging and 3D technology. Advanced imaging technologies, such as high-resolution microscopy and three-dimensional (3D)imaging, enable appraisers to conduct highly detailed and comprehensive assessments of gemstones. In addition, this level of scrutiny ensures that all nuances, inclusions, and characteristics are thoroughly examined, leading to more accurate valuations.
Moreover, the use of advanced imaging enables precise grading of gemstones based on color, clarity, cut, and carat weight. In addition, this level of accuracy is crucial in providing clients with a thorough understanding of the quality and value of their jewelry, instilling confidence in the appraisal process. Furthermore, 3D technology facilitates the creation of detailed digital models of jewelry pieces. Hence, such factors are driving the market growth during the forecast period.
Advancements in synthetic gemstones and diamond simulants are one of the key challenges hindering market growth. The development of high-quality synthetic gemstones and simulants that closely resemble the aesthetics of natural diamonds and gemstones has become more sophisticated, making it increasingly challenging for appraisers to differentiate between natural and synthetic stones without specialized testing. In addition, as synthetic gemstones and simulants become more convincing, appraisers face difficulties in accurately identifying and verifying the authenticity of gemstones.
Moreover, traditional methods of visual inspection may no longer be sufficient, necessitating the use of advanced gemological equipment for precise identification. The prevalence of synthetic gemstones and simulants impacts the valuation process. Furthermore, failure to accurately distinguish between natural and synthetic stones can lead to misrepresented valuations, negatively affecting the overall credibility of the global market. Hence, such factors are hindering the market growth during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market growth analysis report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Gemological Appraisal Laboratory of America Inc: The company offers jewelry appraisal such as repair ring services. They also offer Clean and Polish, Engraving, Gemstone Replacement, Invisible Setting, and Prong Retipping.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The offline appraisal segment is estimated to witness significant growth during the forecast period. The offline appraisal segment in the global market is experiencing significant growth, fuelled by various factors that cater to consumers' preferences and the unique nature of the jewelry industry. In addition, one major factor contributing to the expansion of offline appraisal services is the personal touch and expertise provided by in-person appraisers.
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The offline appraisal segment was the largest segment and was valued at USD 1.66 billion in 2018. Moreover, unlike online appraisals, offline assessments allow for direct interaction between the appraiser and the customer, fostering trust and ensuring a comprehensive understanding of the jewelry piece. In addition, the tangible and physical examination of jewelry attributes, such as color, clarity, and cut, is better achieved through offline channels. Furthermore, this hands-on approach enhances the accuracy of the appraisal process, a crucial aspect in determining the true value of high-value jewelry items. Hence, such factors are fuelling the growth of this segment which in turn drives the market growth during the forecast period.
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North America is estimated to contribute 54% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. North America, particularly the US, has a major population with a high ownership of valuable jewelry items. In addition, this includes engagement rings, heirloom pieces, and other high-end jewelry, necessitating the need for accurate appraisals for insurance, resale, and estate planning purposes. Moreover, jewelry often holds cultural and sentimental value in North American societies. In addition, consumers seek appraisals to understand the true worth of their jewelry, especially when it comes to family heirlooms or pieces with emotional significance. Furthermore, accurate appraisals contribute to preserving and passing down these treasures through generations. Hence, such factors are driving the market growth in North America during the forecast period.
The market report forecasts market growth by revenue at global, regional & country levels and provides a market research and growth analysis of the latest market trends and analysis and growth opportunities from 2018 to 2028.
Jewelry Appraisal Market Scope |
|
Report Coverage |
Details |
Page number |
164 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 9.42% |
Market Growth 2024-2028 |
USD 1.81 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
8.79 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 54% |
Key countries |
US, Canada, Japan, UK, and France |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Casale Jewelers, CIRCAJEWELS.COM, Gemological Appraisal Laboratory of America Inc., Global Appraisal Group, J and M Jewelry, Jewelry Appraisal Services, LaBiche Jewelers, Martin Jewelers, Mearto IVS, Noah Gabriel and Co. Jewelers, Signet Jewelers Ltd., The Jewelry Appraiser Inc., Valuation Services UK Ltd., VALUEPROS APPRAISAL SERVICES, WHITE PINE WHOLESALE LLC, World Gemological Services, Yantz Bradbury Associates, A and A Gemological Laboratory, Addeo Jewelers, and Gem Pro Appraisal Services LLC |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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