Luxury Jewelry Market By Product Type (Necklaces, Ring, Earrings, Bracelets, Others), By Application (Men, Women, Children), By Distribution Channel (Online, Offline): Global Opportunity Analysis and Industry Forecast, 2021-2031
The global luxury jewelry market was valued at $21,751.6 million in 2021, and is projected to reach $40,190.7 million by 2031, registering a CAGR of 6.4% from 2022 to 2031. The necklaces segment was the highest revenue contributor to the market, and is estimated to reach $9,895.7 million by 2031, with a CAGR of 5.9%.
Luxury jewelry involves creation of jewelry using precious stones or metals. The products include in the luxury jewelry market are necklaces, rings, earnings, bracelets, and others.
Changes in lifestyle, rise in disposable income, an increase in the price of precious metal jewelry, an increase in fashion consciousness, and variations in packaging styles and appealing marketing strategies all contribute to the market's growth. However, factors impeding market growth include an increase in the price of raw materials used in luxury jewelry and the jewelry's limited period popularity.
Conversely, increased urbanization, design innovations, and a surge in demand for men's luxury jewelry provide potential opportunities for manufacturers to innovate and develop new products based on consumer preferences.
The COVID-19 pandemic had a significant impact on markets across all industries, with the number of COVID-19 cases increasing by the day. The virus outbreak also had an impact on luxury jewelry industry. As the lockdown continues, demand has fallen and losses have begun to rise. The lockdown, which was necessary in the interests of the people, occurred unexpectedly and in March, which is the end of the fiscal year, affecting targets and actual business. Moreover, March is the month in which the final bookkeeping is delayed, all of which has a significant impact on all businesses, including the luxury Jewelry market.
The global market is segmented into product type, application, distribution channel, and region. On the basis of product type, the market is classified into necklaces, rings, earrings, bracelets, and others. By application, it is bifurcated into men, women and children. As per distribution channel, it is categorized into online and offline. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, UK, Italy, Spain, France, and the rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, and the rest of Asia-Pacific), and LAMEA (Brazil, Argentina, South Africa, United Arab Emirates, Saudi Arabia, and the rest of LAMEA).
The key players in the luxury jewelry market include Avon Products Inc., Chopard International SA, Giorgio Armani S.p.A, GRAFF, Guccio Gucci S.p.A., LVMH, MIKIMOTO, Pandora Jewelry, LLC, Prada S.p.A, Signet Jewelers Limited, Sukkhi Fashion Jewelry, Swarovski Group, Tanishq, Tribe Amrapali, and Youbella.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the luxury jewelry market analysis from 2021 to 2031 to identify the prevailing luxury jewelry market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the luxury jewelry market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global luxury jewelry market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Product Type
Necklaces
Ring
Earrings
Bracelets
Others
By Application
Men
Women
Children
By Distribution Channel
Online
Offline
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
U.K.
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
Argentina
UAE
Saudi Arabia
South Africa
Rest of LAMEA
Key Market Players
Avon Products Inc
Chopard International SA
Giorgio Armani S.p.A
GRAFF
Guccio Gucci S.p.A
LVMH
MIKIMOTO
Prada S.p.A
Signet Jewelers Limited
Sukkhi Fashion Jewelry
Swarovski Group
Tanishq
Tribe Amrapali
Youbella
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