U.K. & Poland Luxury Jewelry Market Size, Share & Trends Analysis Report By Product (Rings, Earrings), By Material (Gold, Diamond), By Distribution Channel (Online, Offline), By Application, By Country, And Segment Forecasts, 2023 - 2030

U.K. & Poland Luxury Jewelry Market Size, Share & Trends Analysis Report By Product (Rings, Earrings), By Material (Gold, Diamond), By Distribution Channel (Online, Offline), By Application, By Country, And Segment Forecasts, 2023 - 2030

U.K. & Poland Luxury Jewelry Market Growth & Trends

The U.K. and Poland luxury jewelry market size was valued at USD 4.20 billion in 2030, registering a CAGR of 9.8% from 2023 to 2030, according to a new report by Grand View Research, Inc. The rise in demand for sustainable and gender-fluid jewelry is a factor boosting market growth. Many customers prefer unusual and new pieces of luxury jewelry, which has evolved into a form of self-expression. New materials, forms, and shapes have been included in jewelry collections. To appeal to clients’ sense of individuality. Due to increasing sponsorships from prominent global figures at high-profile public events, including British Royal Family members, American Vice President Kamala Harris, and superstars in the music and entertainment industry, pearl jewelry has grown in popularity.

The jewelry industry is gradually catching up with technical developments, such as Computer-Aided Design (CAD), Augmented Reality (AR), and 3D printing, offering an entirely new approach to jewelry design, production, and shopping. Many companies are adopting these technologies to produce intricate jewelry designs and stay ahead of the competition. Brands are offering new-age designs by blending feminine and masculine patterns as well as cuts. In September 2021, Missoma, a London-based jewelry brand, collaborated with American-British designer Harris Reed and launched its gender-fluid jewelry collection with 49 demi-fine pieces and 15 fine pieces featuring bracelets, pendants, earrings, and rings. This gold was crafted from recycled 18k gold vermeil, gold plating, and recycled sterling silver. The fine pieces consist of blue sapphire and black & white diamonds.

The ring product segment held the largest revenue share in 2022. Jewelry companies in the U.K. are increasingly adopting various technologies to produce eco-friendly jewelry. These companies are focusing on reducing their carbon footprint and providing sustainable jewelry. For instance, in May 2022, The Royal Mint announced the launch of its collection of fine jewelry under its new brand 886. This new line of jewelry is made from gold that has been extracted from discarded electronics. The collection features pieces with classic, understated designs, including solid gold and silver earrings, rings, chains, and cuffs, all of which are unisex. The diamond segment is expected to register the highest CAGR during the forecast period.

Diamond jewelry is quite popular in Poland and worn at weddings, as well as for several formal events. Poland is known for its quality diamond jewelry craftsmanship, and many jewelers in the country use diamonds of exceptional quality in their designs. While diamonds are still considered a luxury item, they are becoming more accessible to a broader range of consumers in Poland. Many jewelers offer a variety of diamond jewelry at different price points, making it possible for more people to own a piece of diamond jewelry.

The women segment dominated the market in 2022. The trend of luxury jewelry for women in the U.K. is strong, with consumers willing to invest in high-quality, unique, and sustainable pieces that reflect their style and values. One trend that has emerged in recent years is the rise of sustainable and ethical luxury jewelry. Many consumers are increasingly concerned with the social and environmental impact of their purchases, and luxury jewelry brands are responding by incorporating ethical and sustainable practices into their business models. Another trend among women consumers is the popularity of bespoke and personalized jewelry.

U.K. & Poland Luxury Jewelry Market Report Highlights

• The ring product segment held the largest share in 2022. Jewelry companies in the U.K. are increasingly adopting various technologies to produce eco-friendly jewelry. These companies are focusing on reducing their carbon footprint and providing sustainable jewelry
• The diamond segment is expected to register the highest CAGR during the forecast period
• The women segment dominated the market and captured the maximum revenue share in 2022
• The online segment is expected to exhibit the fastest growth rate over the forecast period. Since the pandemic, an increasing number of consumers have started to purchase most items through online platforms. Thus, several big brands have introduced e-commerce platforms to promote their sales
• Furthermore, several e-commerce platforms offer luxury jewelry in the U.K. from international brands
• The market is highly competitive owing to the presence of a large number of global as well as many small- and mid-sized regional players
• Companies with multiple brands & vast distribution networks hold a significant market share and have extensive product portfolios & strong distribution channels.

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