JEWELRY Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Jewelry Market
The jewelry market size was valued at USD 224.39 billion in 2023, and the market is now projected to grow from USD 232.94 billion in 2024 to USD 343.90 billion by 2032, exhibiting a CAGR of 4.99% during the forecast period of 2024-2032.
The situation of COVID-19 pandemic has carried an impact on the decisions of the end users regarding their wears. According to the government’s order for people to stay at home and keep their distance from others, retail shops of jewelry lost their clients’ visits. Another issue is that the chain of jewelry industry’s global supply has been broken due to lock down of factories, postponement of shipments and there are carriages issues that are appearing because of the pandemic. Subsequently, manufacturing and distribution of hard ingredients, gemstones and jewelry sinks was interrupted as well as pieces. Apart from that the behavior of online stores has shifted to such an extent that their clients have come to prefer buying jewelry only from their homes via online platforms. Thus, declining the jewelry market growth.
Given that the rich people's incomes and spending power are high and the global economy is advancing, the demand for more luxurious goods like jewelry is elevating. Besides this, the varying conventions of jewelry preference among people across the world will also tend to tremendously raise the sales of this product. Another example, the World Gold Council article dated August 2020, the Chinese people typically give gold pieces that carries family's tradition and believing to their young members at the special event. Adding to this, the ever-increasing number of women who plan to work and the growing realization of the significance of modernization and premium-class gems will also push the markets' growth forward. Growing female labor force participation has been not only a notable but also a crucial achievement during the economic development. These factors are anticipated to boost the jewelry market share.
Technology has made great improvement these days, particularly after the pandemic which has benefited the field of ornaments most especially in the production of innovation using technology. The inclusion of technology by retailers in blending with ornamental still serves to fuel the demand for the product. For example, the Ringly Loux Smart Ring has gold-plated 14k gold and has a large gemstone. It offers various tech features such as tracking of activity, calorie counting, and also step counters.
Comprehensive Analysis of Jewelry Market
The jewelry market and consumer goods industry are rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessment considering the dominant supply and demand forces that impact the consumer goods industry. These segmentations are methodically segregated By Product Analysis, By Material Type Analysis and By End-user Analysis. Market segmentation is defined by product into the categories of necklace, earring, ring, bracelet, and others. The segment of the ring is predicted to top the list because the ring represents more and more advantages of the ring to symbolize engagement and marriage respectively. The market is segmented according to material type, and the market size of the products is gold, platinum, diamond, and the rest. The diamond segment is the estimated dominator of the market due to the fact that it has the ability to flash and shine like a diamond pushing it to the top of the pecking order. Gold, Platinum, Diamond, and other materials categorize the market, and this is based on material type. The diamond segment is forecasted to be pushing the frontier of the market since it can scatter and reflect the light, and therefore to be more attractive than other segments.
The Asia Pacific market stood at USD 88.26 billion in 2023 and is dominating the global jewelry market share. World leading brands like Tanishq, Natraj, Malabar, Qeelin, Wallace Chan and others imparts major contribution to consumption while progressing. Despite being a huge importer of gems and jewels, India also exports these products, whether they are processed to the last step such as cut and polished diamonds or unprocessed materials such as rough diamonds. Moreover, most of the fashion of delicate machine-made jewelry has been imported from those places in the Middle East and South East Asia.
The top players in the market play a crucial role in the consumer goods industry assuring industrial prospectus growth and setting market standards. These players include,Albemarle Corporation (U.S.), SQM S.A. (Chile), Tianqi Lithium (Australia), Jiangsu Ronghui General Lithium Industry Co., Ltd. (China), Ganfeng Lithium Co., Ltd. (China), Sigma Lithium (Canada), American Lithium Corp. (Canada), Livent (U.S.), Avalon Advanced Materials (Canada) and Sayona Mining Limited (Australia).
In January 2023, Titan Group through its subsidiary brand Tanishj set up its first store in New Jersey, in the USA. The store stores over 6500 jewel variants in 18 and 22 karat solid gold and diamond.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Unit Value (USD Billion)
Growth Rate CAGR of 4.99% from 2024 to 2032
Segmentation By Product
Necklace
Earrings
Ring
Bracelet
Others
By Material Type
Gold
Platinum
Diamond
Others
By End-user
Men
Women
By Geography
North America (By Product, Material Type, End-user, and Country)
- U.S. (By Product)
- Canada (By Product)
- Mexico (By Product)
Europe (By Product, Material Type, End-user, and Country)
- Germany (By Product)
- France (By Product)
- Italy (By Product)
- Spain (By Product)
- U.K. (By Product)
- Rest of Europe (By Product)
Asia Pacific (By Product, Material Type, End-user, and Country)
- China (By Product)
- India (By Product)
- Japan (By Product)
- Australia (By Product)
- Rest of Asia Pacific (By Product)
South America (By Product, Material Type, End-user, and Country)
- Brazil (By Product)
- Argentina (By Product)
- Rest of South America (By Product)
Middle East & Africa (By Product, Material Type, End-user, and Country)
- South Africa (By Product)
- UAE (By Product)
- Rest of the Middle East & Africa (By Product)
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- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 3.4. Emerging Trends
- 4. Key Insights
- 4.1. Overview of the Parent/Related Markets
- 4.2. Industry SWOT Analysis
- 4.3. Supply Chain and Regulatory Analysis
- 4.4. Recent Industry Developments - Policies, Partnerships, New Product Launches, and Mergers & Acquisitions
- 4.5. Qualitative Analysis (in relation to COVID-19)
- 5. Global Jewelry Market Analysis, Insights and Forecast, 2019-2032
- 5.1. Key Findings / Summary
- 5.2. Market Size Estimates and Forecast
- 5.2.1. By Product (Value)
- 5.2.1.1. Necklace
- 5.2.1.2. Earrings
- 5.2.1.3. Ring
- 5.2.1.4. Bracelet
- 5.2.1.5. Others
- 5.2.2. By Material Type (Value)
- 5.2.2.1. Gold
- 5.2.2.2. Platinum
- 5.2.2.3. Diamond
- 5.2.2.4. Others
- 5.2.3. By End User (Value)
- 5.2.3.1. Men
- 5.2.3.2. Women
- 5.2.4. By Region (Value)
- 5.2.4.1. North America
- 5.2.4.2. Europe
- 5.2.4.3. Asia Pacific
- 5.2.4.4. South America
- 5.2.4.5. Middle East & Africa
- 6. North America Jewelry Market Analysis, Insights and Forecast, 2019-2032
- 6.1. Key Findings / Summary
- 6.2. Market Size Estimates and Forecast
- 6.2.1. By Product (Value)
- 6.2.1.1. Necklace
- 6.2.1.2. Earrings
- 6.2.1.3. Ring
- 6.2.1.4. Bracelet
- 6.2.1.5. Others
- 6.2.2. By Material Type (Value)
- 6.2.2.1. Gold
- 6.2.2.2. Platinum
- 6.2.2.3. Diamond
- 6.2.2.4. Others
- 6.2.3. By End User (Value)
- 6.2.3.1. Men
- 6.2.3.2. Women
- 6.2.4. By Country (Value)
- 6.2.4.1. U.S
- 6.2.4.1.1. By Product (Value)
- 6.2.4.1.1.1. Necklace
- 6.2.4.1.1.2. Earrings
- 6.2.4.1.1.3. Ring
- 6.2.4.1.1.4. Bracelet
- 6.2.4.1.1.5. Others
- 6.2.4.2. Canada
- 6.2.4.2.1. By Product (Value)
- 6.2.4.2.1.1. Necklace
- 6.2.4.2.1.2. Earrings
- 6.2.4.2.1.3. Ring
- 6.2.4.2.1.4. Bracelet
- 6.2.4.2.1.5. Others
- 6.2.4.3. Mexico
- 6.2.4.3.1. By Product (Value)
- 6.2.4.3.1.1. Necklace
- 6.2.4.3.1.2. Earrings
- 6.2.4.3.1.3. Ring
- 6.2.4.3.1.4. Bracelet
- 6.2.4.3.1.5. Others
- 7. Europe Jewelry Market Analysis, Insights and Forecast, 2019-2032
- 7.1. Key Findings / Summary
- 7.2. Market Size Estimates and Forecast
- 7.2.1. By Product (Value)
- 7.2.1.1. Necklace
- 7.2.1.2. Earrings
- 7.2.1.3. Ring
- 7.2.1.4. Bracelet
- 7.2.1.5. Others
- 7.2.2. By Material Type (Value)
- 7.2.2.1. Gold
- 7.2.2.2. Platinum
- 7.2.2.3. Diamond
- 7.2.2.4. Others
- 7.2.3. By End User (Value)
- 7.2.3.1. Men
- 7.2.3.2. Women
- 7.2.4. By Country (Value)
- 7.2.4.1. Germany
- 7.2.4.1.1. By Product (Value)
- 7.2.4.1.1.1. Necklace
- 7.2.4.1.1.2. Earrings
- 7.2.4.1.1.3. Ring
- 7.2.4.1.1.4. Bracelet
- 7.2.4.1.1.5. Others
- 7.2.4.2. France
- 7.2.4.2.1. By Product (Value)
- 7.2.4.2.1.1. Necklace
- 7.2.4.2.1.2. Earrings
- 7.2.4.2.1.3. Ring
- 7.2.4.2.1.4. Bracelet
- 7.2.4.2.1.5. Others
- 7.2.4.3. Italy
- 7.2.4.3.1. By Product (Value)
- 7.2.4.3.1.1. Necklace
- 7.2.4.3.1.2. Earrings
- 7.2.4.3.1.3. Ring
- 7.2.4.3.1.4. Bracelet
- 7.2.4.3.1.5. Others
- 7.2.4.4. U.K.
- 7.2.4.4.1. By Product (Value)
- 7.2.4.4.1.1. Necklace
- 7.2.4.4.1.2. Earrings
- 7.2.4.4.1.3. Ring
- 7.2.4.4.1.4. Bracelet
- 7.2.4.4.1.5. Others
- 7.2.4.5. Spain
- 7.2.4.5.1. By Product (Value)
- 7.2.4.5.1.1. Necklace
- 7.2.4.5.1.2. Earrings
- 7.2.4.5.1.3. Ring
- 7.2.4.5.1.4. Bracelet
- 7.2.4.5.1.5. Others
- 7.2.4.6. Rest of Europe
- 7.2.4.6.1. By Product (Value)
- 7.2.4.6.1.1. Necklace
- 7.2.4.6.1.2. Earrings
- 7.2.4.6.1.3. Ring
- 7.2.4.6.1.4. Bracelet
- 7.2.4.6.1.5. Others
- 8. Asia Pacific Jewelry Market Analysis, Insights and Forecast, 2019-2032
- 8.1. Key Findings / Summary
- 8.2. Market Size Estimates and Forecast
- 8.2.1. By Product (Value)
- 8.2.1.1. Necklace
- 8.2.1.2. Earrings
- 8.2.1.3. Ring
- 8.2.1.4. Bracelet
- 8.2.1.5. Others
- 8.2.2. By Material Type (Value)
- 8.2.2.1. Gold
- 8.2.2.2. Platinum
- 8.2.2.3. Diamond
- 8.2.2.4. Others
- 8.2.3. By End User (Value)
- 8.2.3.1. Men
- 8.2.3.2. Women
- 8.2.4. By Country (Value)
- 8.2.4.1. China
- 8.2.4.1.1. By Product (Value)
- 8.2.4.1.1.1. Necklace
- 8.2.4.1.1.2. Earrings
- 8.2.4.1.1.3. Ring
- 8.2.4.1.1.4. Bracelet
- 8.2.4.1.1.5. Others
- 8.2.4.2. India
- 8.2.4.2.1. By Product (Value)
- 8.2.4.2.1.1. Necklace
- 8.2.4.2.1.2. Earrings
- 8.2.4.2.1.3. Ring
- 8.2.4.2.1.4. Bracelet
- 8.2.4.2.1.5. Others
- 8.2.4.3. Japan
- 8.2.4.3.1. By Product (Value)
- 8.2.4.3.1.1. Necklace
- 8.2.4.3.1.2. Earrings
- 8.2.4.3.1.3. Ring
- 8.2.4.3.1.4. Bracelet
- 8.2.4.3.1.5. Others
- 8.2.4.4. Australia
- 8.2.4.4.1. By Product (Value)
- 8.2.4.4.1.1. Necklace
- 8.2.4.4.1.2. Earrings
- 8.2.4.4.1.3. Ring
- 8.2.4.4.1.4. Bracelet
- 8.2.4.4.1.5. Others
- 8.2.4.5. Rest of Asia Pacific
- 8.2.4.5.1. By Product (Value)
- 8.2.4.5.1.1. Necklace
- 8.2.4.5.1.2. Earrings
- 8.2.4.5.1.3. Ring
- 8.2.4.5.1.4. Bracelet
- 8.2.4.5.1.5. Others
- 9. South America Jewelry Market Analysis, Insights and Forecast, 2019-2032
- 9.1. Key Findings / Summary
- 9.2. Market Size Estimates and Forecast
- 9.2.1. By Product (Value)
- 9.2.1.1. Necklace
- 9.2.1.2. Earrings
- 9.2.1.3. Ring
- 9.2.1.4. Bracelet
- 9.2.1.5. Others
- 9.2.2. By Material Type (Value)
- 9.2.2.1. Gold
- 9.2.2.2. Platinum
- 9.2.2.3. Diamond
- 9.2.2.4. Others
- 9.2.3. By End User (Value)
- 9.2.3.1. Men
- 9.2.3.2. Women
- 9.2.4. By Country (Value)
- 9.2.4.1. Brazil
- 9.2.4.1.1. By Product (Value)
- 9.2.4.1.1.1. Necklace
- 9.2.4.1.1.2. Earrings
- 9.2.4.1.1.3. Ring
- 9.2.4.1.1.4. Bracelet
- 9.2.4.1.1.5. Others
- 9.2.4.2. Argentina
- 9.2.4.2.1. By Product (Value)
- 9.2.4.2.1.1. Necklace
- 9.2.4.2.1.2. Earrings
- 9.2.4.2.1.3. Ring
- 9.2.4.2.1.4. Bracelet
- 9.2.4.2.1.5. Others
- 9.2.4.3. Rest of South America
- 9.2.4.3.1. By Product (Value)
- 9.2.4.3.1.1. Necklace
- 9.2.4.3.1.2. Earrings
- 9.2.4.3.1.3. Ring
- 9.2.4.3.1.4. Bracelet
- 9.2.4.3.1.5. Others
- 10. Middle East & Africa Jewelry Market Analysis, Insights and Forecast, 2019-2032
- 10.1. Key Findings / Summary
- 10.2. Market Size Estimates and Forecast
- 10.2.1. By Product (Value)
- 10.2.1.1. Necklace
- 10.2.1.2. Earrings
- 10.2.1.3. Ring
- 10.2.1.4. Bracelet
- 10.2.1.5. Others
- 10.2.2. By Material Type (Value)
- 10.2.2.1. Gold
- 10.2.2.2. Platinum
- 10.2.2.3. Diamond
- 10.2.2.4. Others
- 10.2.3. By End User (Value)
- 10.2.3.1. Men
- 10.2.3.2. Women
- 10.2.4. By Country (Value)
- 10.2.4.1. South Africa
- 10.2.4.1.1. By Product (Value)
- 10.2.4.1.1.1. Necklace
- 10.2.4.1.1.2. Earrings
- 10.2.4.1.1.3. Ring
- 10.2.4.1.1.4. Bracelet
- 10.2.4.1.1.5. Others
- 10.2.4.2. UAE
- 10.2.4.2.1. By Product (Value)
- 10.2.4.2.1.1. Necklace
- 10.2.4.2.1.2. Earrings
- 10.2.4.2.1.3. Ring
- 10.2.4.2.1.4. Bracelet
- 10.2.4.2.1.5. Others
- 10.2.4.3. Saudi Arabia
- 10.2.4.3.1. By Product (Value)
- 10.2.4.3.1.1. Necklace
- 10.2.4.3.1.2. Earrings
- 10.2.4.3.1.3. Ring
- 10.2.4.3.1.4. Bracelet
- 10.2.4.3.1.5. Others
- 10.2.4.4. Rest of Middle East & Africa
- 10.2.4.4.1. By Product (Value)
- 10.2.4.4.1.1. Necklace
- 10.2.4.4.1.2. Earrings
- 10.2.4.4.1.3. Ring
- 10.2.4.4.1.4. Bracelet
- 10.2.4.4.1.5. Others
- 11. Competitive Matrix
- 11.1. Business Strategies Adopted by Leading Players
- 11.2. Global Jewelry Market Revenue Share/Ranking Analysis, By Key Manufacturer, 2023
- 12. Company Profiles
- 12.1. Harry Winston, Inc.,
- 12.1.1. Overview
- 12.1.2. Description
- 12.1.3. Product Portfolio
- 12.1.4. Financials (Data as available in public domain and/or on paid databases)
- 12.1.5. Recent Developments
- 12.2. Chopard
- 12.2.1. Overview
- 12.2.2. Description
- 12.2.3. Product Portfolio
- 12.2.4. Financials (Data as available in public domain and/or on paid databases)
- 12.2.5. Recent Developments
- 12.3. Pandora Jewelry, LLC.
- 12.3.1. Overview
- 12.3.2. Description
- 12.3.3. Product Portfolio
- 12.3.4. Financials (Data as available in public domain and/or on paid databases)
- 12.3.5. Recent Developments
- 12.4. Chow Tai Fook Jewellery Company Limited
- 12.4.1. Overview
- 12.4.2. Description
- 12.4.3. Product Portfolio
- 12.4.4. Financials (Data as available in public domain and/or on paid databases)
- 12.4.5. Recent Developments
- 12.5. Tiffany & Co.
- 12.5.1. Overview
- 12.5.2. Description
- 12.5.3. Product Portfolio
- 12.5.4. Financials (Data as available in public domain and/or on paid databases)
- 12.5.5. Recent Developments
- 12.6. Rajesh Exports Ltd.
- 12.6.1. Overview
- 12.6.2. Description
- 12.6.3. Product Portfolio
- 12.6.4. Financials (Data as available in public domain and/or on paid databases)
- 12.6.5. Recent Developments
- 12.7. Cartier International SNC
- 12.7.1. Overview
- 12.7.2. Description
- 12.7.3. Product Portfolio
- 12.7.4. Financials (Data as available in public domain and/or on paid databases)
- 12.7.5. Recent Developments
- 12.8. Signet Jewellers Limited
- 12.8.1. Overview
- 12.8.2. Description
- 12.8.3. Product Portfolio
- 12.8.4. Financials (Data as available in public domain and/or on paid databases)
- 12.8.5. Recent Developments
- 12.9. Chanel
- 12.9.1. Overview
- 12.9.2. Description
- 12.9.3. Product Portfolio
- 12.9.4. Financials (Data as available in public domain and/or on paid databases)
- 12.9.5. Recent Developments
- 12.10. LVMH Moët Hennessy
- 12.10.1. Overview
- 12.10.2. Description
- 12.10.3. Product Portfolio
- 12.10.4. Financials (Data as available in public domain and/or on paid databases)
- 12.10.5. Recent Developments
- 13. Strategic Recommendations
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