Chalcedony Earring Market Size, Share, and COVID-19 Impact Analysis, By Material (Gold, Platinum, Diamond, and Others), By Distribution Channel (Offline Retail and Online Retail), and Regional Forecast, 2024-2032

Chalcedony earrings are made from chalcedony stone and other components such as gold, sterling silver, and others. The material is translucent and its properties are derived from different types of minerals, such as moganite and quartz, which are present in the stone. The market is driven by the abundant presence of this stone and the availability of various designs and colors. In addition, various types of shapes can be molded into earrings based on trends in the market.

According to the Hudson Institute of Mineralogy, there are around 7,611 sites present for chalcedony stones worldwide, from which North America has the highest reserve. In addition, Mexico, Brazil, Madagascar, India, Uruguay, South Africa, and others also have reserves. Over the years, there have been various shifts in trends, such as the rise in demand for lightweight jewelry, modern design, and others, which further drove the market growth. In addition, there has been a growing adoption of gemstone jewelry among the youth due to increased disposable income in developing countries such as the U.S., India, Germany, Italy, China, and Canada. However, geopolitical instability, such as the Ukraine-Russia war, negatively impacted the economy, thus restraining market growth.

Impact of COVID-19 on the Chalcedony Earring Market

The COVID-19 pandemic outbreak had an adverse effect on the chalcedony earring market growth due to government restriction of lockdowns across the globe. As a result of the lockdown, manufacturing plants and brick-and-mortar stores of chalcedony earrings were shut down in various countries, and the closure of national and internal borders disrupted the supply chains. This had an adverse effect on consumer demand. Furthermore, there is a significant drop in the availability of raw materials due to governments restrictions, further declining the jewelry market growth. According to the U.S. Geological Survey, Mineral Commodity Summaries, the combined value of natural and synthetic gemstone output of the U.S. in 2020 decreased by 4% as compared to 2019. Thus, COVID-19 had a negative impact on the global chalcedony earring market.

• According to the financial reports of Tiffani & Co., they have observed a decline in revenue from USD 4.44 billion in 2018 to USD 3.35 billion in 2020.

Key Insights

The report will cover the following key insights:

• Supply chain analysis


• Industry SWOT analysis


• Top player positioning


• Key industry developments (product launch, merger, acquisition, partnership)


• Impact of COVID-19 on the chalcedony earring market

Analysis by Material

By material, the market is divided into gold, platinum, diamond, and others. However, diamond is a luxury product, and individuals consider diamond a good investment option. Furthermore, diamond is more durable and long-lasting. Occasions, such as engagements, anniversaries, and weddings, are major influencing factors for an individual to purchase diamond-studded jewelry. In addition, demand for gold chalcedony earrings has increased significantly in developing regions such as Asia Pacific and the Middle East.

• According to the U.S. Department of Interior, in 2021, the total import of gemstones in the U.S. was valued at USD 24 billion, a 49% growth compared to 2020. India, Switzerland, South Africa, China, and Mexico were the primary import sources of the U.S.

Analysis by Distribution Channel

By distribution channel, the market is bifurcated into offline retail and online retail. The offline retail segment leads the market share. Chalcedony earrings are often used for daily wear due to their high durability and designs. Thus, the convenience of an offline retail channel contributes to more revenue growth. Furthermore, the convenience of doorstep delivery and discounted prices through online sales channels may further drive market growth.

• As per the financial reports of Tiffany & Co., 93% of their sales were from offline retail stores, and only 7% were from online retail stores. However, online sales channels from 2018-2020 have shown growth in revenue generation.

Regional Analysis

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The growing demand and inclination toward gemstones in the U.S. have been driving the North America market, and the ever-increasing popularity of natural jewelry is influencing the market growth. In addition, the high disposable income of individuals contributes to growing investments in jewelry, thereby fueling market growth. The market has observed rapid growth with the growing disposable income and manufacturing facilities in China and India. The rise in e-commerce and easy availability of chalcedony earrings have been driving the market in Asia Pacific.

• According to the Observatory of Economic Complexity (OEC), in 2020, USD 49.9 billion worth of precious metals, gems, and jewelry were exported by the U.S., from which the U.K import of precious metals, gems, and jewelry from the U.S. was valued at USD 9.4 billion.


• According to the financial reports of Tiffany & Co., North and LATAM have 44% of total sales, followed by Asia Pacific with 28% in 2019.

Key Players Covered

The report includes key players such as the Jewellery Channel Limited, T&CO., Wanderlust Life, GEMPORIA LTD, Pyramid & Precious International, Stauer.com, Ana Silver Co., Gopali Jewellers, NOVICA United Inc., and BLOOM JEWELRY LLC.

Segmentation

Key Industry Developments

• In January 2021, LVMH Moët Hennessy Louis Vuitton SE, one of the world’s leading luxury products groups, acquired Tiffany & Co., a leading global luxury jeweler. The acquisition will further expand the product portfolio of LVMH’s Watches & Jewelry division.


• In April 2021, LVMH Moët Hennessy Louis Vuitton SE, Richemont, Chopard, and other world-leading jewelry manufacturers, came together with Gemfields and other leading gemstone mining companies to launch a Gemstones and Jewelry Community Platform to unite gemstone and jewelry brands.