USD 326.08 billion
Jewelry Market Size, Share, Growth Analysis, By Product Type(Necklace, Ring, Earring, Bracelet), By Material(Gold, Platinum, Diamond, Others), By End User(Men, Women), By Region - Industry Forecast 2024-2031
Report ID:
SQMG15L2001 |
Region:
Global |
Published Date: February, 2024
Pages:
165
|Tables:
92
|Figures:
76
Jewelry Market Insights
Jewelry Market size was valued at USD 326.08 billion in 2019 and is poised to grow from USD 340.69 billion in 2023 to USD 482.22 billion by 2031, growing at a CAGR of 4.6% in the forecast period (2024-2031).
Due to the fact that the leading companies are concentrating on using their websites to announce new releases, sales, and other pertinent information, the jewellery industry is anticipated to experience significant growth via the online channel. However, it is anticipated that increasing e-commerce frauds and a lack of understanding regarding jewellery hallmarks will impede market expansion.
The increasing acceptance of jewelry among men is also propelling the growth of the market. Products such as cufflinks, plain gold chains, tie bars, cartography necklaces, and signet rings are some of the products commonly in demand among men. A vast client base makes it possible for manufacturers to cater to a large market and earn profits. The introduction of new designs and emerging fashion trends are attracting customers and manufacturers are leveraging this frequent change in fashion to design unique products to attract customers.
US Jewelry Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Platinum
Fastest Growth
Platinum
Growth Rate
4.6% CAGR
Global Jewelry Market, 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
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Jewelry Market Segmental Analysis
The global jewelry market is segmented based on product type, material and region. Based on product type it is categorized into: necklace, ring, earring, bracelet and others. Based on material it is categorized into: gold, platinum, diamond and others. Based on region it is categorized into: North America, Europe, Asia-Pacific, South America, and MEA.
Jewelry Market Analysis by Product Type
Based on product, the jewelry market is divided into jewelry, studs, rings, bracelets and others.
The ring is projected to be the main segment because of the rising concerns towards the ring, which is to mean or represent draw in and marital status. Consequently, this helps to push the rising inclination of the item over different kinds of portion Additionally, the rising number of the male populace having the longing to wear a ring is supposed to fuel the interest. Hoops, neckbands, wristbands, and others have shown a critical presence inferable from the rising utilization of them items for beautification and improvement of looks, particularly, among the females.
Jewelry Market Analysis by Material
The diamond section is expected to be the lead market investor inferable from its capacity to shimmer and mirror light that makes it more alluring than different sorts of portions. Moreover, diamonds being considered as a wise speculation and a reinforcement in the event of expansion, market breakdown, and others impels the utilization rate.
Then again, the gold segment is supposed to stand a powerful development as individuals are progressively mindful of the medical advantages of wearing gold trimmings Gold adornments have medical advantages, for example, controlling internal heat level, accelerating the recuperation interaction during injury, going about as a de-stressor, and others.
Global Jewelry Market By Materials type, 2021 (%)
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Jewelry Market Regional Insights
In 2021, North America represents a huge offer in the worldwide jewelry market for gems and is expected to stay one of the main districts in the gauge period attributable to the forceful publicizing and marking of the items.
In the meantime, portions of the Asia Pacific, which incorporate India and China, are quickly filling regarding income and utilization. Gold is consumed for a huge scope in China because of its quickly creating economy.
The jewelry market development in India can be credited to the high meaning of gems in Indian culture, rising expectations for everyday comforts, and a developing impact of web-based entertainment on customers.
Global Jewelry Market By Geography, 2021-2028
- Largest
- Fastest
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Jewelry Market Dynamics
Jewelry Market Driver
- Expanding disposable pay and spending power of consumer to fuel the jewelry market growth. The developing worldwide economy inferable from high discretionary cashflow and spending force of the populace are pushing the interest for the rising utilization of extravagance merchandise, for example, trimmings Additionally, various traditions in regards to the reception of decorations followed by individuals across the globe are supposed to help the acquisition of the item essentially For example, as per the World Gold Council article, August 2020, is proclaiming that Chinese individuals have a practice of giving gold decorations as a gift to the more youthful individuals from the family at unique occasions.
- Expanding Adoption of Digital Media Platforms may lead to the jewelry market growth. The headway of advanced media that advances high design through TV dramas, motion pictures, music recordings, and others has brought about impacting the worldwide populace to be more disposed towards style merchandise, including decoration items. Also, the effortlessness of sharing the merchandise purchased to loved ones through calls, instant messages, or by posting via web-based entertainment has added force to the market
Jewelry Market Restraint
- The rising number of nations all over the globe keeping up with severe guidelines on the import and commodity of trimming merchandise has brought about the rising duty made on the items. Consequently, this in prompting an expansion in the last expense of the item and repulses countless shoppers.
- Additionally, the rising political pressure between nations has brought about the prohibition on the import of different adornment items is expected to compromise market development. For example, the conflict of warriors in the Galwan Valley among India and China is probably going to bring about a reducing exchange of products between the two nations.
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Jewelry Market Competitive Landscape
Jewelry have gotten some momentum in the developing business sector because of way of life changes and an ascent in the costs of valuable metal ornaments, adding to the development of the business size. The opposition in the jewelry market is extraordinary as a portion of the players are among the notable producers of jewelry and diamonds. Major players are including Tiffany & Co. (U.S), Louis Vuitton SE (France), Signet Jewelers Limited (Bermuda), Pandora Jewelry, LLC (U.S), H.Stern (Brazil), Richemont (Switzerland), Chow Tai Fook Jewellery Group Limited (Hongkong), Malabar Gold & Diamonds (India), Tata Sons Private Ltd (India), The Swatch Group AG (Switzerland), Tanishq Ltd (India), Cartier SA (France) and Others. Aside from this, few worldwide retail are gaining local brands to arrive at a more extensive purchaser base and grow their portion of the overall industry
Top Players in the Global Jewelry Market
- Tiffany & Co.
- Pandora Jewelry, LLC
- Cartier
- Bulgari
- Harry Winston
- Graff Diamonds
- Chopard
- Van Cleef & Arpels
- Buccellati
- Mikimoto
- Piaget
- Boucheron
- David Yurman
- Swarovski
- Alex and Ani
- Monica Vinader
- Kendra Scott
- David Webb
- Hearts On Fire
- Stephen Webster
Jewelry Market Recent Developments
- In June 2022, The Asian Institute of Gemological Sciences (AIGS) has launched what it accepts is the primary normalized colour code for sea blue. It plans to present outsider objectivity in a gemstone market where the exceedingly significant variety is frequently portrayed with vague terms like greenish blue or blue.
- In May 2022, GIA India declared the launch of its new pearl distinguishing proof research facility in Mumbai.
- In April 2021, GSI opens another research facility in Jaipur. Gemological Science International (GSI), one of the biggest gemological associations on the globe, declared the launch of its most up to date research facility in Jaipur, India.
Jewelry Key Market Trends
- Most shoppers purchase gems from global or laid out brands as they offer bona fide and dependable items and remarkable plans. Online business is one more significant pattern in the business. Most buyers in jewelry market like to explore online prior to buying any item, and many make buys from online gateways for accommodation.
- Also, because of the arising quick style, a few producers are offering design Jewelry made of plated combinations and gem stones through online websites.
Jewelry 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 by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, by product type, the ring segment of the jewelry market has the largest revenue share in the year 2021 as of the rising concerns towards the ring, which is to mean or represent draw in and marital status, and it is worn by both male and female. Material-wise, the Diamond sub-segment has dominated the market with the largest market share in 2021. Region-wise, the North America region accounted highest market share in the year 2021, followed by Asia Pacific.
| Report Metric | Details |
|---|---|
| Market size value in 2019 | USD 326.08 billion |
| Market size value in 2031 | USD 482.22 billion |
| Growth Rate | 4.6% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| 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 Jewelry 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 Jewelry 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 Jewelry 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 Jewelry 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 Jewelry Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Jewelry 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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