Ireland: Imitation Jewellery Market 2023

Imitation Jewellery Market Size in Ireland

In 2021, the Irish imitation jewellery market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Overall, consumption, however, continues to indicate a deep downturn. Imitation jewellery consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Imitation Jewellery Production in Ireland

In value terms, imitation jewellery production expanded markedly to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a deep setback. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Imitation Jewellery Exports

Exports from Ireland

In 2021, shipments abroad of imitation jewelry decreased by -6.7% to X tons, falling for the third year in a row after two years of growth. Over the period under review, exports showed a abrupt curtailment. The growth pace was the most rapid in 2015 with an increase of 49% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, imitation jewellery exports rose modestly to $X in 2021. In general, exports recorded a deep contraction. The pace of growth was the most pronounced in 2017 with an increase of 27% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

The UK (X tons) was the main destination for imitation jewellery exports from Ireland, accounting for a 59% share of total exports. Moreover, imitation jewellery exports to the UK exceeded the volume sent to the second major destination, Spain (X tons), fourfold. The third position in this ranking was taken by Germany (X tons), with a 7.3% share.

From 2012 to 2021, the average annual growth rate of volume to the UK stood at +22.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (-19.3% per year) and Germany (-34.6% per year).

In value terms, the UK ($X) remains the key foreign market for imitation jewellery exports from Ireland, comprising 71% of total exports. The second position in the ranking was taken by the United States ($X), with a 10% share of total exports. It was followed by France, with a 3.8% share.

From 2012 to 2021, the average annual growth rate of value to the UK totaled +22.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-13.9% per year) and France (+5.5% per year).

Export Prices by Country

The average imitation jewellery export price stood at $X per ton in 2021, growing by 9.6% against the previous year. In general, export price indicated a buoyant increase from 2012 to 2021: its price increased at an average annual rate of +6.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imitation jewellery export price increased by +45.3% against 2018 indices. The most prominent rate of growth was recorded in 2013 an increase of 44%. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was the United States ($X per ton), while the average price for exports to Germany ($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 Portugal (+9.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imitation Jewellery Imports

Imports into Ireland

In 2021, after four years of decline, there was significant growth in supplies from abroad of imitation jewelry, when their volume increased by 78% to X tons. In general, imports, however, recorded a pronounced slump. Imports peaked at X tons in 2016; however, from 2017 to 2021, imports failed to regain momentum.

In value terms, imitation jewellery imports soared to $X in 2021. The total import value increased at an average annual rate of +1.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest imitation jewellery supplier to Ireland, with a 67% share of total imports. Moreover, imitation jewellery imports from China exceeded the figures recorded by the second-largest supplier, the UK (X tons), sixfold. Germany (X tons) ranked third in terms of total imports with a 3.6% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled -3.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (-6.5% per year) and Germany (+16.8% per year).

In value terms, the largest imitation jewellery suppliers to Ireland were China ($X), the UK ($X) and Italy ($X), with a combined 64% share of total imports.

In terms of the main suppliers, Italy, with a CAGR of +23.6%, recorded the highest rates of growth with regard to 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, shrinking by -3.4% against the previous year. Over the period under review, import price indicated buoyant growth from 2012 to 2021: its price increased at an average annual rate of +5.5% 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 increased by +79.7% against 2016 indices. The most prominent rate of growth was recorded in 2020 when the average import price increased by 33% against the previous year. As a result, import price attained the peak level of $X per ton, and then reduced in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+50.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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