Malaysia: Imitation Jewellery Market 2024

Imitation Jewellery Market Size in Malaysia

The Malaysian imitation jewellery market dropped markedly to $X in 2021, which is down by -15.8% against 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). Overall, consumption showed a noticeable reduction. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market failed to regain momentum.

Imitation Jewellery Exports

Exports from Malaysia

In 2021, the amount of imitation jewelry exported from Malaysia dropped rapidly to X tons, which is down by -18% against 2020 figures. In general, exports, however, recorded a perceptible increase. The growth pace was the most rapid in 2017 when exports increased by 214%. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, imitation jewellery exports rose rapidly to $X in 2021. Over the period under review, exports, however, enjoyed perceptible growth. The pace of growth was the most pronounced in 2017 when exports increased by 151%. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

Singapore (X tons) was the main destination for imitation jewellery exports from Malaysia, accounting for a 33% share of total exports. Moreover, imitation jewellery exports to Singapore exceeded the volume sent to the second major destination, Hong Kong SAR (X tons), threefold. The third position in this ranking was taken by the United States (X tons), with an 8.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Singapore amounted to +32.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (+5.2% per year) and the United States (+22.7% per year).

In value terms, Singapore ($X), Hong Kong SAR ($X) and the United States ($X) were the largest markets for imitation jewellery exported from Malaysia worldwide, with a combined 57% share of total exports. These countries were followed by Kazakhstan, Thailand, Vietnam, Russia, Turkey, Saudi Arabia, the Philippines, Australia and Indonesia, which together accounted for a further 23%.

Among the main countries of destination, Kazakhstan, with a CAGR of +13,842.3%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average imitation jewellery export price amounted to $X per ton, with an increase of 30% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of 39%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Thailand ($X per ton), while the average price for exports to Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Kazakhstan (+71.3%), while the prices for the other major destinations experienced a decline.

Imitation Jewellery Imports

Imports into Malaysia

In 2021, approx. X tons of imitation jewelry were imported into Malaysia; shrinking by -33.9% compared with 2020. Over the period under review, imports showed a noticeable setback. The growth pace was the most rapid in 2020 with an increase of 56% against the previous year. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, imitation jewellery imports expanded markedly to $X in 2021. Overall, imports saw a mild curtailment. The pace of growth was the most pronounced in 2013 with an increase of 59%. Imports peaked at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of imitation jewellery to Malaysia, with a 64% share of total imports. Moreover, imitation jewellery imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), fourfold. The third position in this ranking was held by Hong Kong SAR (X tons), with a 7% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to -1.0%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+18.3% per year) and Hong Kong SAR (-17.9% per year).

In value terms, China ($X), Hong Kong SAR ($X) and India ($X) appeared to be the largest imitation jewellery suppliers to Malaysia, together comprising 55% of total imports. These countries were followed by Singapore and Brazil, which together accounted for a further 12%.

In terms of the main suppliers, Brazil, with a CAGR of +231.6%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average imitation jewellery import price amounted to $X per ton, growing by 68% against the previous year. In general, the import price recorded a slight expansion. Over the period under review, average import prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Singapore ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+15.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform