Global Jewelry Market

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.

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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).

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 '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'

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.

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.

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.

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Global Jewelry Market

Report ID: SQMG15L2001

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