Updated Jan 19, 2023 01:52

Imitation Jewellery Market in Latin America and the Caribbean

Market Overview
The Latin American imitation jewellery market totaled $ in , stabilizing at the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The total consumption indicated a slight expansion from 2007 to : its value increased at an average annual rate of +% over the last fifteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption increased by +% against indices. Over the period under review, the market reached the maximum level at $ in 2012; however, from 2013 to , consumption failed to regain momentum.

In value terms, imitation jewellery production amounted to $ in estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of %. The level of production peaked at $ in 2018; however, from 2019 to , production failed to regain momentum.

The country with the largest volume of imitation jewellery production was Brazil ( tons), accounting for % of total volume. Moreover, imitation jewellery production in Brazil exceeded the figures recorded by the second-largest producer, Mexico ( tons), twofold.

In Brazil, imitation jewellery production plunged by an average annual rate of -% over the period from 2007-. In the other countries, the average annual rates were as follows: Mexico (+% per year) and the Dominican Republic (+% per year).


Consumption
In , consumption of imitation jewelry in Latin America and the Caribbean stood at tons, surging by % on the year before. Overall, consumption, however, recorded a mild downturn. The volume of consumption peaked at tons in 2010; however, from 2011 to , consumption failed to regain momentum.

The size of the imitation jewellery market in Latin America and the Caribbean was estimated at $ in , approximately mirroring the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The total consumption indicated a mild increase from 2007 to : its value increased at an average annual rate of +% over the last fifteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption increased by +% against indices. Over the period under review, the market attained the maximum level at $ in 2012; however, from 2013 to , consumption stood at a somewhat lower figure.


Consumption by Country
The countries with the highest volumes of consumption in were Brazil ( tons), Chile ( tons) and Mexico ( tons), together comprising % of total consumption. Colombia, Guatemala, Bolivia, Peru, Ecuador, Argentina, Panama, the Dominican Republic, Costa Rica and Honduras lagged somewhat behind, together accounting for a further %.

From 2007 to , the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by Guatemala (with a CAGR of +%), while consumption for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($), Brazil ($) and Chile ($) were the countries with the highest levels of market value in , with a combined % share of the total market.

Chile, with a CAGR of +%, recorded the highest rates of growth with regard to market size among the main consuming countries over the period under review, while market for the other leaders experienced more modest paces of growth.

The countries with the highest levels of imitation jewellery per capita consumption in were Chile ( kg per persons), Panama ( kg per persons) and Costa Rica ( kg per persons).

From 2007 to , the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by Guatemala (with a CAGR of +%), while consumption for the other leaders experienced more modest paces of growth.


Market Forecast
Driven by rising demand for imitation jewellery in Latin America and the Caribbean, the market is expected to start an upward consumption trend over the next eight-year period. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to tons by the end of .

In value terms, the market is forecast to increase with an anticipated CAGR of +% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .