The global jewelry market was estimated at USD 336 Billion in 2020 and is anticipated to touch USD 464 Billion by the end of 2028, while increasing at a CAGR of 4.1% during the forecast period (2021-2028)

Introduction of the Jewelry Market Report

Jewelry refers to decorative items or ornaments such as rings, bracelets, necklace worn over body and are usually made of precious metals such as gold, silver, diamond among others. Non-crystalline materials of organic origin such as pearl, red coral, amber are classified as gemstones, which are also witnessing demand due to their beauty, durability and rarity.

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Market Dynamic

Key Drivers and Emerging Trends

Surging income levels and rising disposable income stands to be one of the major driver in the global jewelry market. The growing popularity of the branded jewelry among high-income groups acts as a symbol of high status has led to increasing spending on luxury jewelry made of diamond and platinum. Furthermore, the rising focus of consumers especially among women to enhance the appearance or highlight certain features of the body by wearing stylish jewelry such as necklace, nose pins continues to stimulate market growth. Manufacturers also offers different cross-cultural jewelry designs to entice customers with their differentiated offerings. For instance, designs inspired by Brazil tribal women and Greek or Roman culture are gaining traction among the consumers worldwide.

 In addition to this, smart jeweleries are also being introduced in the market that works as an activity tracker, a sleep monitor, a stress remover or a complete fitness device. Ringly launched Ringly Luxe Smart Ring which is adorned by a large gemstone on its top with a 14k gold-plated base. It supports basic activity tracking like recording steps, distance and burned calories. Such factors are expected to drive market growth in the coming years.

Restraint in the Jewelry Market

However, growing demand for imitation/artificial jewelry stands to acts as a major market barrier. Imitation jewelry are accessories that are made using a variety of artificial materials. The high prices of the traditional jewelry such as gold, diamond or silver, have encouraged people to opt for affordable imitation jewelry.

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Material Type – Segment Analysis

Based on the material type, gold and diamond continues to remain the popular choice among the fashion conscious and high-income consumers. Growing demand for couple rings, bracelets with personalised designs among both women and men is expected to proliferate growth in the coming years. Furthermore, gold which is also considered as a symbol of status and is a fundamental part of different rituals and occasions will continue to drive demand.

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Regional – Segment Analysis:

Based on region, the APAC market is expected to witness fastest growth in the coming years owing to the rapidly developing economy and increasing spending on precious jewelry such as gold and diamond in countries such as China and India. In 2020, according to the China Gold Association, the actual consumption of gold nationwide was reported at 820.98 tons. Additionally, presence of various customs and traditional cultures of gifting ornaments in this region stands to witness the growth of the market.

Top Market Players

Various notable players operating in the market include Chow Tai Fook., Compagnie Financière Richemont SA, Signet Jewelers, LVMH, Pandora Inc., Titan Company Limited, Kalyan Group, Zales, Harry Winston, Inc., Chopard International SA among others. 

Key Developments:

• • In 2021, Chow Tai Fook took a strategic step by acquiring the gems maker Enzo, which has surged the growth of the market in mainland China and other regions as well. Enzo Jewelry operates more than 60 stores in China, which has aided the company in providing greater value products.
  • In 2021, LVMH officially announced the acquisition of Tiffany and Co., which is likely to boost the product portfolio of the company. In addition, this acquisition helped 14,000 employees round the globe to achieve the company long term plans for expanding the products in the watches and jewelry segment over the period.

Segments covered in the Report:

The global Jewelry market has been segmented on the basis of material type and product type and key regions. Based on material, the market is segmented into gold, silver, diamond, platinum and others. Based on product, the market is segmented into rings, earrings, necklace, bracelet and others. 

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Key questions answered in this research report:

• • At what pace is global jewelry market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in jewelry market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global jewelry market?
  • Which product generated maximum revenues in 2020 and identify the most promising product during the forecast period?
  • What are the various material types used in the global jewelry Market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Revenues 2020	USD 336 Billion
Market Forecast Period	2021-2028
Market Base Year	2020
Base Year & Forecast Units	Revenues (USD Billion)
Market Segment	By Material Type, By Product Type and By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Chow Tai Fook., Compagnie Financière Richemont SA, Signet Jewelers., LVMH, Pandora Inc., Titan Company Limited, Kalyan Group, Zales, Harry Winston, Inc., Chopard International SA, among others
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Jewelry Market by Material Type

• • Gold
  • Silver
  • Diamond
  • Platinum
  • Others

Global Jewelry Market by Product Type

• • Rings
  • Earrings
  • Necklace
  • Bracelet
  • Others

Global Jewelry Market by Region

• • Americas Jewelry Market (Option 1: As a part of the free 25% customization)
    • Americas Jewelry Market by Material Type
    • Americas Jewelry Market by Product Type
    • US Jewelry Market All-Up
    • Canada Jewelry Market All-Up
    • Others Jewelry Market All-Up
  • Europe Jewelry Market (Option 2: As a part of the free 25% customization)
    • Europe Jewelry Market by Material Type
    • Europe Jewelry Market by Product Type
    • UK Jewelry Market All-Up
    • Germany Jewelry Market All-Up
    • France Jewelry Market All-Up
    • Spain Jewelry Market All-Up
    • Rest of Europe Jewelry Market All-Up
  • Asia-Pacific Jewelry Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Jewelry Market by Material Type
    • Asia-Pacific Jewelry Market by Product Type
    • China Jewelry Market All-Up
    • India Jewelry Market All-Up
    • Japan Jewelry Market All-Up
    • Rest of APAC Jewelry Market All-Up
  • MEA Jewelry Market (Option 4: As a part of the free 25% customization)
    • MEA Jewelry Market by Material Type
    • MEA Jewelry Market by Product Type
    • Brazil Jewelry Market All-Up
    • South Africa Jewelry Market All-Up
    • Egypt Jewelry Market All-Up
    • Nigeria Jewelry Market All-Up
    • Rest of MEA Jewelry Market All-Up

Major Players Operating in the Jewelry (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Chow Tai Fook
  • Compagnie Financière Richemont SA
  • Signet Jewelers
  • LVMH
  • Pandora Inc.
  • Titan Company Limited
  • Kalyan Group
  • Zales
  • Harry Winston, Inc.
  • Chopard International SA