ASEAN: Imitation Jewellery Market 2024

Imitation Jewellery Market Size in ASEAN

The ASEAN imitation jewellery market was finally on the rise to reach $X in 2021, after two years of decline. Over the period under review, consumption, however, posted resilient growth. The level of consumption peaked in 2021 and is likely to continue growth in years to come.

Imitation Jewellery Production in ASEAN

In value terms, imitation jewellery production rose remarkably to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2016 with an increase of 31% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2021, production growth remained at a lower figure.

Imitation Jewellery Exports

Exports in ASEAN

Imitation jewellery exports dropped to X tons in 2021, falling by -12.2% against 2020 figures. Overall, exports showed a mild descent. The growth pace was the most rapid in 2017 with an increase of 55% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports remained at a lower figure.

In value terms, imitation jewellery exports dropped notably to $X in 2021. In general, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 60% against the previous year. The level of export peaked at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, Vietnam (X tons) and Thailand (X tons) represented the largest exporters of imitation jewelry in ASEAN, together resulting at near 67% of total exports. Indonesia (X tons) took the next position in the ranking, followed by Singapore (X tons) and Malaysia (X tons). All these countries together took near 27% share of total exports. The following exporters - the Philippines (X tons) and Myanmar (X tons) - each recorded a 4.6% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Myanmar (with a CAGR of +27.4%), while the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X) emerged as the largest imitation jewellery supplier in ASEAN, comprising 52% of total exports. The second position in the ranking was held by Singapore ($X), with a 23% share of total exports. It was followed by Vietnam, with a 16% share.

In Thailand, imitation jewellery exports contracted by an average annual rate of -3.6% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Singapore (+9.9% per year) and Vietnam (+7.6% per year).

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2021, dropping by -6.8% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.1%. The pace of growth was the most pronounced in 2019 when the export price increased by 26% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2020 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Singapore ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+16.7%), while the other leaders experienced more modest paces of growth.

Imitation Jewellery Imports

Imports in ASEAN

In 2021, purchases abroad of imitation jewelry decreased by -7.8% to X tons, falling for the third consecutive year after two years of growth. The total import volume increased at an average annual rate of +2.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 31% against the previous year. The volume of import peaked at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, imitation jewellery imports stood at $X in 2021. Total imports indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +8.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -25.9% against 2018 indices. The pace of growth was the most pronounced in 2013 when imports increased by 51%. The level of import peaked at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

The purchases of the four major importers of imitation jewelry, namely Malaysia, Thailand, Singapore and Indonesia, represented more than two-thirds of total import. Vietnam (X tons) held a 7.1% share (based on physical terms) of total imports, which put it in second place, followed by the Philippines (6.7%).

From 2012 to 2021, the biggest increases were in Vietnam (with a CAGR of +23.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), Thailand ($X) and Vietnam ($X) were the countries with the highest levels of imports in 2021, with a combined 78% share of total imports.

Vietnam, with a CAGR of +24.7%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in ASEAN amounted to $X per ton, picking up by 10% against the previous year. Import price indicated a prominent increase from 2012 to 2021: its price increased at an average annual rate of +5.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imitation jewellery import price decreased by -1.7% against 2017 indices. The growth pace was the most rapid in 2013 an increase of 35% against the previous year. The level of import peaked at $X per ton in 2016; however, from 2017 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Singapore ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+4.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform