Since ASEAN member states are achieving relatively high economic growth, consumer purchases of “gems and jewelry” have increased accordingly. KResearch has studied this industry, exploring opportunities for Thai jewelers within ASEAN markets.
- As ASEAN consumers are becoming more interested in gems and jewelry, such regional
business has gradually become more dynamic. Amid this ongoing trend, KResearch estimates that 2013 jewelry trade (excluding gold) within ASEAN may rise to USD6.4 billion, and should grow continuously at an annual average of 20.0 percent between 2013-2015.
- Jewelry exports from Thailand to ASEAN markets have witnessed a huge leap, where
Thailand can now expand on growing per capita incomes and booming tourism within the region. Most regional trade and investment opportunities concentrate on gateway countries, targeting the ASEAN-5. To successfully penetrate this market, high-end consumers and young career people should be focused upon, as well as tourists, as mainly found in national capitals, larger metropolises and tourism venues.
- Although Thailand is one of the fifteen largest major exporters of jewelry, ASEAN has
never been a major export destination for us, as opposed to the EU and US, because ASEAN is a smaller market where purchasing power has been low. However, the region's impressive economic growth and the upcoming AEC in two years shall make ASEAN more important to Thai jewelers.KResearch expects that Thai jewelry exports (excluding gold) to ASEAN in 2013 will total USD170 million, up 40 percent YoY, with the potential to hit USD300 million by 2015. The primary categories of interest will likely be both genuine and costume jewelry, as well as unmounted diamonds and colored gems.
Other than these trade goals, ASEAN is now thought of as a raw material source and production base for export jewelry, particularly the CLMV countries and Indonesia. However, entering the market there would require thorough investigation of the local business environment, e.g., trade measures, regulatory differences as well as consumption behaviors.
Enter the code from the poll
Annotation
This research paper is published for general public. It is made up of various sources. Trustworthy, but the company can not authenticate. reliability The information may be changed at any time without prior notice. Data users need to be careful about the use of information. The Company will not be liable to any user or person for any damages arising from such use. The information in this report does not constitute an offer. Or advice on business decisions Anyhow.