USD 47.06 billion
Gold Bullion Market Size, Share, Growth Analysis, By Type(Gold bar, Gold Coin), By Distribution Channel(Online, Offline), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15L2002 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
61
|Figures:
75
Gold Bullion Market Insights
Gold Bullion Market is valued at USD 47.06 billion in 2022 and expected to grow from USD 52.75 billion in 2023 to USD 131.55 billion by 2031 at a CAGR of 12.10% during the forecast period (2024-2031)
The gold bullion market is growing rapidly, as investors seek to protect their wealth. The demand for gold has never been higher, and there are a number of reasons for this. There are many factors that contribute to the demand for gold, but one of the most important is the uncertainty in the economy. Many people are worried about the future, and they want to protect their money by investing in assets that are immune to economic fluctuations.
Gold is a very stable investment, and it has remained relatively unchanged over the past few years. This makes it an attractive option for people who are worried about the future. Another reason why the gold bullion market is booming is because of inflation. Many people believe that inflation is a threat to the economy, and they want to protect their savings by investing in assets that will not be impacted by inflation. Gold is not affected by inflation, which makes it an attractive option for investors who want to protect their money from inflation. The demand for gold bullion is growing rapidly, and there are a number of reasons why this is happening.
US Gold Bullion Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Gold Bar
Fastest Growth
Gold Bar
Growth Rate
12.10% CAGR
Global Gold Bullion Market 2022-2028 ($ Bn)
Country Share for Asia-Pacific Region- 2021 (%)
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Gold Bullion Market Segmental Analysis
Global gold bullion market is segmented by type, distribution channel, and region. For better understanding, we have sub-segment the type into gold bar and gold coin. Moving ahead, we have further categorized the distribution channel segment into offline and online channel. By region, the market is categorized into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.
Gold Bullion Market Analysis by Type
Global gold bullion market is a booming one, with investors searching for the safest and most reliable way to protect their wealth. One of the most popular ways to store gold is in bars, and this market is dominated by gold bars.
Gold bars are the most sought-after form of gold bullion, as they offer a high degree of security and are easy to store. They are also relatively easy to trade, making them ideal for investors who want to easily move their money around. In fact, the gold bar market is so large that it has its own exchange, known as the London Bullion Market Association (LBMA). The LBMA oversees the trading of gold bars around the world, ensuring that they are always available and that they are accurately priced.
Gold bars come in a variety of forms and weights, making them perfect for different types of investors in the global gold bullion market. For example, those who want to invest in gold but don’t have a lot of space can opt for smaller bars that are easier to store. Meanwhile, others may prefer larger bars that offer more security. Regardless of the weight or form, all gold bars undergo rigorous testing before they are released into the market, ensuring that they are of high quality.
Global Gold Bullion Market By Type, 2021 (%)
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Gold Bullion Market Regional Insights
Asia Pacific to continue dominating the global gold bullion market. Asia Pacific region accounted for 36% of global gold demand in 2016. The growth of the Asian economies has led to increased gold demand, as investors seek safe havens and alternative investments. The demand for gold in Asia Pacific is driven by a number of factors. One reason is the stability of the region's economies and currencies, which are some of the strongest in the world. Investors also view gold as a safe haven investment option in times of uncertainty. In addition, the increasing consumption of luxury goods in Asia Pacific countries such as India and China has fueled demand for gold bullion as an investment vehicle for purchasing these items.
Despite this strong demand in the global gold bullion market, there are some challenges facing the growth of the Asian gold market. For one, some countries in the region have been reluctant to open their markets to foreign investment, which has restricted access to resources and hindered innovation. Additionally, regulatory changes could have a negative impact on the sector if they are not done properly.
The Asia Pacific region is the largest gold bullion market, accounting for over 50% of global demand. In 2019, demand for gold bullion in the Asia Pacific region was estimated at 4,600 metric tons. The majority of demand comes from China and India, which together account for more than 60% of regional demand. Gold is seen as a safe investment option and a store of value in the Asia Pacific region, where economic growth has been strong in recent years. Investment demand for gold bullion in the region has been growing at a rapid pace, with China becoming the largest market for gold bars and coins in 2019. The increase in investment demand has been driven by concerns about economic stability and currency devaluation.
Global Gold Bullion Market By Geography, 2022-2028
- Largest
- Fastest
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Gold Bullion Market Dynamics
Gold Bullion Market Driver
- Economic uncertainty: There is a lot of economic uncertainty in the world today, and gold is seen as a safe haven asset. When investors are worried about the economy, they tend to buy more gold.
- Geopolitical tensions: Geopolitical tensions around the world have been on the rise in recent years, and this has increased demand for gold as well. Gold is seen as a safe haven asset during times of political turmoil.
- Central bank buying: Central banks around the world have been buying more gold in recent years, which has helped drive up demand for gold bullion market. Many central banks see gold as a way to diversify their reserves and protect against economic uncertainty.
- Jewelry demand: Gold jewelry remains popular around the world, especially in Asia where demand is very strong. This helps support prices even when other types of demand are weak.
- Industrial uses: Gold is used in a variety of industries including electronics, dentistry, and aerospace engineering. As industrial activity increases, so does demand for gold.
- ETFs and other investments: Exchange-traded funds (ETFs) that invest in gold
Gold Bullion Market Restraint
- Global economy is still shaky, and people are not spending as much money as they used to.
- Federal Reserve is printing more money, which is pushing up the value of other currencies and diminishing the purchasing power of gold
- Technology is advancing rapidly, and people are using more electronic options for transactions. In fact, increased number of vendors have been targeting the consumers through digital media and creating scope for buying digital gold, which is more likely to have a negative impact on the global gold bullion market in the years to come.
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Gold Bullion Market Competitive Landscape
Gold bullion is a highly sought-after commodity, and as such, companies are always looking for ways to gain an edge in the global gold bullion market. One way that companies compete in the gold bullion market is by offering investors a variety of options when it comes to purchasing gold. For example, some companies may offer gold bullion coins while others may offer bars or ingots. This variety allows investors to choose the option that best suits their needs and preferences.
Another way that companies compete in the gold bullion market is by offering competitive prices. Since there is a lot of competition in this market, companies often have to undercut each other on price in order to attract and retain customers. This can be a very difficult task, as margins are often razor thin. However, those companies that are able to successfully compete on price often reap the rewards in terms of increased sales and market share.
Finally, companies also compete in the gold bullion market by trying to create brand loyalty among investors. This can be done in a number of ways, but one common tactic is through marketing campaigns that tout the quality of a company's products. These campaigns can be very effective in attracting new customers and convincing existing ones to stick with a particular brand.
Gold Bullion Market Top Player's Company Profiles
- PJSC Polyus
- Barrick Gold Corporation
- Newmont Corporation
- AngloGold Ashanti Ltd.
- Kinross Gold Corporation
- Newcrest Mining Limited
- Goldcorp Inc.
- Agnico Eagle Mines Limited
- Sibanye-Stillwater
- Harmony Gold Mining Company Limited
- Randgold Resources Limited
- Cia de Minas Buenaventura S.A.A.
- Gold Fields Limited
- Shandong Gold Mining Co., Ltd.
- Zijin Mining Group Co., Ltd.
- Fresnillo PLC
- Yamana Gold Inc.
- Kinross Gold Corporation
- Alamos Gold Inc.
- Eldorado Gold Corporation
Gold Bullion Market Recent Developments
- In May 2022, Gold Fields (GFI) announced a deal to buy Canada's Yamana Gold (AUY) in a $6.7bn
- In September 2021, Agnico Eagle Mines (AEM) and Kirkland Lake Gold merged together. The merger was worth $10.46 billion
- In May 2020, SSR Mining, a Canadian metal mining company, planned to buy Alacer Gold for US$1.72 billion
Gold Bullion Key Market Trends
- There has been an increase in global economic uncertainty which has led to investors seeking safe haven assets such as gold. This has resulted in increased demand for gold and consequently higher prices, thus, giving impetus to the gold bullion market.
- Central banks around the world have been increasing their holdings of gold as a way to diversify their reserves. This trend is likely to continue given ongoing concerns about the stability of fiat currencies. Lastly, there has been growing interest in so-called ‘alternative’ investments such as gold from both institutional and retail investors.
Gold Bullion Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
SkyQuest Technology has bullish outlooks for the gold bullion market and believe that it will continue to thrive in the coming years. Moreover, it believes that we are currently in the midst of a “new era” for gold. there are four main drivers of this new era for gold: 1) safe haven demand due to increased geopolitical risk; 2) structural decline in interest rates; 3) quantitative easing by major central banks; and 4) inflationary pressures starting to build. All of these factors are expected to lead to continued strong demand for gold bullion going forward.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 47.06 billion |
| Market size value in 2031 | USD 131.55 billion |
| Growth Rate | 12.10% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Gold Bullion Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Gold Bullion Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Gold Bullion Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Gold Bullion Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Gold Bullion Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Gold Bullion Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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