The fashion jewelry market - Brazil

1.1 Market presentation

The category of "costume jewelry" does not have a strict, universally accepted definition. However, in this study, we will define "costume jewelry" as original jewelry used as a fashion accessory that differs from jewelry made of metals (gold and silver), diamonds and precious stones. The materials used to make costume jewelry are very varied (base metals, glass, plastic, synthetic stones, semi-precious stones, pearls, ivory, leather, terracotta, etc.).

The costume jewelry segment has two main advantages:

• A very diverse range [LSA]
• Very affordable prices.

This partly explains why costume jewelry attracts a broad consumer base, with all age groups represented. The jewelry market is growing rapidly around the world and will be worth tens of billions of dollars by 2022.

According to the Brazilian Jewelry, Goldsmithing and Lapidary Association (ABRASJOIA), there has been significant growth in the costume jewelry market in Brazil in recent years. The sector contributed around R$4.5 billion to the country's accessories industry in 2022. This growth can be attributed to several factors, such as the demand for affordable and varied accessories, the influence of social media in propagating fashion trends and the preference for versatile pieces that can be worn on different occasions.

The COVID-19 pandemic has significantly affected the costume jewelry market in Brazil. The decrease in social events and special occasions has resulted in a temporarily reduced demand for these fashion accessories. At the same time, there was a growth in demand for costume jewelry online, as people looked for inexpensive ways to express their personal style during the lockdown.

The current trend in the costume jewelry market is the search for unique and personalized designs, reflecting the individuality and personal style of the consumer, moving away from mass-produced options. At the same time, sustainability is gaining prominence, with a growing number of brands adopting eco-friendly practices in their productions.