Jewellery Products Market Size, Share, & Trends Analysis Report (2023 – 2030)

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Report Overview

The global jewellery market was valued at USD 265.5 billion in 2022 and is projected to expand at a CAGR of 5.7% from 2023 to 2030. The increasing demand for customized jewelry and the surge in the number of non-traditional engagement rings are driving the growth of the market. Furthermore, a rise in the number of working women is propelling the growth of the market as they have a higher purchasing power than before. In addition, an upsurge in e-commerce is providing consumers with more options for buying jewelry online.

The rising trend of sustainable jewelry is rapidly gaining traction in the market. Manufacturers are now focusing on developing eco-friendly jewelry that includes recycled metals and conflict-free diamonds. The increasing demand for sustainable jewelry is attributed to the increasing awareness among consumers regarding the negative environmental and human impact of the traditional production process of jewelry. For instance, in April 2021, CaratLane, an India-based online jewelry brand, announced the launch of an eco-friendly collection of jewelry.

The rising trend of personalization is expected to bolster the growth of the market. The growing demand for personalized jewelry is attributed to the increasing availability of customized products. Companies are increasingly launching personalized jewelry services to cater to the rising demand. For instance, in April 2021, CaratLane announced the launch of ‘My Design Studio’, a unique service that enables customers to create and customize their own jewelry. The service allows customers to select from a wide range of designs and customize it to their preference.

The increasing popularity of gold jewelry is driving the growth of the market. Gold is a highly preferred metal for jewelry as it is considered as a safe investment option. Furthermore, the rising disposable income of consumers has increased the demand for gold jewelry. For instance, in November 2021, Titan Company launched its all-new gold jewelry collection called ‘Tanishq Divyam’. The new collection comprises of simple and elegant gold jewelry pieces, designed to appeal to a wide range of consumers.

The growing trend of body piercing is further accelerating the growth of the market. The increasing acceptance of body piercing among the youth is driving the growth of the market. Furthermore, the rising popularity of piercing jewelry such as earrings, nose rings, and lip rings has been positively impacting the demand for jewelry. For instance, in March 2021, Wildflower Jewelry launched its new body piercing collection, which includes nose rings, earrings, and lip rings made from premium-grade materials.

Product Insights

The gold segment dominated the market and accounted for a share of around 38.2% in 2022. The popularity of gold jewelry among consumers is rising due to its classic and timeless designs. Gold jewelry is often used as a form of investment, particularly in countries such as India, China, and the Middle East. This is due to the fact that gold jewelry is considered a safe haven for investing during times of economic turbulence and gold prices remain relatively stable. Additionally, rising income levels among consumers in emerging countries have further contributed to the growth of the gold jewelry market.

The diamond segment is anticipated to expand at the fastest CAGR of 8.7% over the forecast period. Diamonds are gaining popularity as a timeless and sophisticated piece of jewelry. They are also considered a status symbol and are often used as a form of investment. Rising disposable income among consumers, especially in emerging countries, is expected to drive the demand for diamond jewelry over the forecast period. Furthermore, the emergence of various diamond jewelry brands and e-commerce platforms is also driving the market growth.

Distribution Channel Insights

The jewelry stores segment held the largest share of the jewelry products market with a share of over 50% in 2022. The growth of the segment is attributed to the increasing number of brick and mortar stores, offering a wide variety of jewelry products. The stores provide customers with the opportunity to try out various products and compare prices before making a purchase. In addition, jewelry stores provide customers with the convenience of making a purchase in a physical store. Furthermore, the availability of trained sales staff assists customers in understanding the features of the product and helps them in making an informed decision.

The online segment is anticipated to grow at the highest CAGR of 11.2% during the forecast period. The growth of this segment is attributed to the increasing number of e-commerce websites and mobile applications offering jewelry products. The e-commerce websites and mobile applications provide customers with the convenience to compare products and prices of different brands before making a purchase. In addition, the e-commerce websites and mobile applications also offer discounts, which attracts customers to purchase jewelry products online.

Type Insights

The costume jewelry segment constituted the highest revenue in the year 2022. The demand for costume jewelry is increasing due to its low cost and wide range of design options. Costume jewelry is usually made from inexpensive materials such as plastic, glass, and metal alloys. The cost-effectiveness and wide range of designs makes it popular among the demographic. The increasing trend of online shopping is also driving the market growth of costume jewelry as it is easily accessible over the internet.

The fine jewelry segment is expected to expand at the highest CAGR of 7.2% over the forecast period. The rising disposable income and the availability of a wide variety of designs is driving the demand for fine jewelry products. Furthermore, the growing demand for customized jewelry designs is also boosting the market. For instance, Tiffany & Co., a jewelry company, offers customized diamond engagement rings. The company offers customers the option to choose from a wide range of designs, stones, and settings.

Regional Insights

Asia Pacific dominated the market and accounted for the largest revenue share of over 38.6% in 2022. Growing disposable income and increasing fashion consciousness are the two major drivers of the regional market. Furthermore, the presence of several established jewelry manufacturers in the region, such as Chow Tai Fook and Tiffany & Co., has also contributed to the market growth. Moreover, the emergence of e-commerce stores has made it easier for consumers to purchase jewelry, thereby fuelling the market growth in the coming years.

North America is expected to witness the second-fastest growth in the coming years. The presence of a large number of jewelry manufacturers in the region, such as Birks Group, Signet Jewelers, and Tiffany & Co., has enabled the region to lead the market in terms of product quality and innovation. The U.S. is one of the major markets for jewelry in the region, with a high demand for luxury and designer jewelry. Moreover, the emergence of new technologies, such as 3D printing, is further expected to drive the market growth in the region.

Financial Projections

In this part of the jewelry products business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your jewelry products business. Usually, these projections are drafted for a 5-year period.

Revenue Assumptions
The main source of revenues for a jewelry products business comes from sales of jewelry products, custom design services, repairs, and other services such as engraving. Here you will find a list with a description of each of them and other possible sources of profit such as the sale of accessories, marketing activities, and the sale of gift cards.

Projecting Expenses
In this section, all the regular expenses related to keeping the jewelry products business running will be described. The list of operating expenses includes inventory, rent, wages, utilities, advertising, and others. Additionally, you should consider the cost of materials for jewelry production and labor costs for custom designs.

Key companies & market share insights

Some of the key companies operating in the jewelry products market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:

– In May 2022, Tiffany & Co. launched the Everyday Objects collection, a modern take on everyday jewelry.

– In July 2022, Cartier launched the Love collection, featuring a range of jewelry pieces for men and women.

– In August 2022, Swarovski launched the Sparkle Your World collection, featuring a range of diamond-encrusted jewelry pieces.

Some of the prominent players in the jewelry products market include:

– Tiffany & Co.
– Cartier
– Swarovski
– Richemont
– Pandora
– Chow Tai Fook
– Harry Winston
– Lao Feng Xiang
– Chow Sang Sang
– Graff Diamonds

Global Jewelry Market Segmentation

This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global jewelry products market based on product, distribution channel, type, and region:

1. Product Outlook (Revenue, USD Million, 2017 – 2030)

– Necklaces
– Bracelets
– Earrings
– Rings
– Others

2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)

– Supermarkets & Hypermarkets
– Online
– Others

3. Type Outlook (Revenue, USD Million, 2017 – 2030)

– Gold
– Silver
– Platinum
– Others

4. Regional Outlook (Revenue, USD Million, 2017 – 2030)

– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa

Frequently Asked Questions

[Q]: What are the Key Drivers of Global Jewelry Products Market?
[A]: Increasing disposable incomes, increasing demand for fashion and luxury products, growing online purchase of jewelry, increasing number of celebrity endorsements, and increasing use of jewelry for gifting purposes are some of the key drivers of the global jewelry products market.

[Q]: What are the Major Trends in the Global Jewelry Products Market?
[A]: The global jewelry products market is witnessing a shift in preference towards custom-made designs, use of eco-friendly materials, and technological advancements such as 3D printing and virtual try-on technologies.

[Q]: What are the Opportunities in the Global Jewelry Products Market?
[A]: The global jewelry products market offers lucrative opportunities for growth owing to the increasing demand for personalized jewelry, growing demand for fashion jewelry, increasing adoption of virtual try-on technologies, and rising trend of online shopping.

[Q]: Who are the Major Players in the Global Jewelry Products Market?
[A]: Major players in the global jewelry products market include Swarovski, LVMH, Richemont, Pandora, and Tiffany & Co.

[Q]: What is the Regional Outlook of the Global Jewelry Products Market?
[A]: North America is expected to witness significant growth over the forecast period due to the presence of a large number of jewelry manufacturers, rising demand for luxury goods, and increasing disposable incomes. Asia Pacific is expected to witness the fastest growth during the forecast period due to the presence of a large consumer base and increasing e-commerce penetration.

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Jewellery Products Market Size, Share, & Trends Analysis Report (2023 – 2030)

Report Overview

The global jewellery market was valued at USD 265.5 billion in 2022 and is projected to expand at a CAGR of 5.7% from 2023 to 2030. The increasing demand for customized jewelry and the surge in the number of non-traditional engagement rings are driving the growth of the market. Furthermore, a rise in the number of working women is propelling the growth of the market as they have a higher purchasing power than before. In addition, an upsurge in e-commerce is providing consumers with more options for buying jewelry online.

The rising trend of sustainable jewelry is rapidly gaining traction in the market. Manufacturers are now focusing on developing eco-friendly jewelry that includes recycled metals and conflict-free diamonds. The increasing demand for sustainable jewelry is attributed to the increasing awareness among consumers regarding the negative environmental and human impact of the traditional production process of jewelry. For instance, in April 2021, CaratLane, an India-based online jewelry brand, announced the launch of an eco-friendly collection of jewelry.

The rising trend of personalization is expected to bolster the growth of the market. The growing demand for personalized jewelry is attributed to the increasing availability of customized products. Companies are increasingly launching personalized jewelry services to cater to the rising demand. For instance, in April 2021, CaratLane announced the launch of ‘My Design Studio’, a unique service that enables customers to create and customize their own jewelry. The service allows customers to select from a wide range of designs and customize it to their preference.

The increasing popularity of gold jewelry is driving the growth of the market. Gold is a highly preferred metal for jewelry as it is considered as a safe investment option. Furthermore, the rising disposable income of consumers has increased the demand for gold jewelry. For instance, in November 2021, Titan Company launched its all-new gold jewelry collection called ‘Tanishq Divyam’. The new collection comprises of simple and elegant gold jewelry pieces, designed to appeal to a wide range of consumers.

The growing trend of body piercing is further accelerating the growth of the market. The increasing acceptance of body piercing among the youth is driving the growth of the market. Furthermore, the rising popularity of piercing jewelry such as earrings, nose rings, and lip rings has been positively impacting the demand for jewelry. For instance, in March 2021, Wildflower Jewelry launched its new body piercing collection, which includes nose rings, earrings, and lip rings made from premium-grade materials.

Product Insights

The gold segment dominated the market and accounted for a share of around 38.2% in 2022. The popularity of gold jewelry among consumers is rising due to its classic and timeless designs. Gold jewelry is often used as a form of investment, particularly in countries such as India, China, and the Middle East. This is due to the fact that gold jewelry is considered a safe haven for investing during times of economic turbulence and gold prices remain relatively stable. Additionally, rising income levels among consumers in emerging countries have further contributed to the growth of the gold jewelry market.

The diamond segment is anticipated to expand at the fastest CAGR of 8.7% over the forecast period. Diamonds are gaining popularity as a timeless and sophisticated piece of jewelry. They are also considered a status symbol and are often used as a form of investment. Rising disposable income among consumers, especially in emerging countries, is expected to drive the demand for diamond jewelry over the forecast period. Furthermore, the emergence of various diamond jewelry brands and e-commerce platforms is also driving the market growth.

Distribution Channel Insights

The jewelry stores segment held the largest share of the jewelry products market with a share of over 50% in 2022. The growth of the segment is attributed to the increasing number of brick and mortar stores, offering a wide variety of jewelry products. The stores provide customers with the opportunity to try out various products and compare prices before making a purchase. In addition, jewelry stores provide customers with the convenience of making a purchase in a physical store. Furthermore, the availability of trained sales staff assists customers in understanding the features of the product and helps them in making an informed decision.

The online segment is anticipated to grow at the highest CAGR of 11.2% during the forecast period. The growth of this segment is attributed to the increasing number of e-commerce websites and mobile applications offering jewelry products. The e-commerce websites and mobile applications provide customers with the convenience to compare products and prices of different brands before making a purchase. In addition, the e-commerce websites and mobile applications also offer discounts, which attracts customers to purchase jewelry products online.

Type Insights

The costume jewelry segment constituted the highest revenue in the year 2022. The demand for costume jewelry is increasing due to its low cost and wide range of design options. Costume jewelry is usually made from inexpensive materials such as plastic, glass, and metal alloys. The cost-effectiveness and wide range of designs makes it popular among the demographic. The increasing trend of online shopping is also driving the market growth of costume jewelry as it is easily accessible over the internet.

The fine jewelry segment is expected to expand at the highest CAGR of 7.2% over the forecast period. The rising disposable income and the availability of a wide variety of designs is driving the demand for fine jewelry products. Furthermore, the growing demand for customized jewelry designs is also boosting the market. For instance, Tiffany & Co., a jewelry company, offers customized diamond engagement rings. The company offers customers the option to choose from a wide range of designs, stones, and settings.

Regional Insights

Asia Pacific dominated the market and accounted for the largest revenue share of over 38.6% in 2022. Growing disposable income and increasing fashion consciousness are the two major drivers of the regional market. Furthermore, the presence of several established jewelry manufacturers in the region, such as Chow Tai Fook and Tiffany & Co., has also contributed to the market growth. Moreover, the emergence of e-commerce stores has made it easier for consumers to purchase jewelry, thereby fuelling the market growth in the coming years.

North America is expected to witness the second-fastest growth in the coming years. The presence of a large number of jewelry manufacturers in the region, such as Birks Group, Signet Jewelers, and Tiffany & Co., has enabled the region to lead the market in terms of product quality and innovation. The U.S. is one of the major markets for jewelry in the region, with a high demand for luxury and designer jewelry. Moreover, the emergence of new technologies, such as 3D printing, is further expected to drive the market growth in the region.

Financial Projections

In this part of the jewelry products business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your jewelry products business. Usually, these projections are drafted for a 5-year period.

Revenue Assumptions
The main source of revenues for a jewelry products business comes from sales of jewelry products, custom design services, repairs, and other services such as engraving. Here you will find a list with a description of each of them and other possible sources of profit such as the sale of accessories, marketing activities, and the sale of gift cards.

Projecting Expenses
In this section, all the regular expenses related to keeping the jewelry products business running will be described. The list of operating expenses includes inventory, rent, wages, utilities, advertising, and others. Additionally, you should consider the cost of materials for jewelry production and labor costs for custom designs.

Key companies & market share insights

Some of the key companies operating in the jewelry products market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:

– In May 2022, Tiffany & Co. launched the Everyday Objects collection, a modern take on everyday jewelry.

– In July 2022, Cartier launched the Love collection, featuring a range of jewelry pieces for men and women.

– In August 2022, Swarovski launched the Sparkle Your World collection, featuring a range of diamond-encrusted jewelry pieces.

Some of the prominent players in the jewelry products market include:

– Tiffany & Co.
– Cartier
– Swarovski
– Richemont
– Pandora
– Chow Tai Fook
– Harry Winston
– Lao Feng Xiang
– Chow Sang Sang
– Graff Diamonds

Global Jewelry Market Segmentation

This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global jewelry products market based on product, distribution channel, type, and region:

1. Product Outlook (Revenue, USD Million, 2017 – 2030)

– Necklaces
– Bracelets
– Earrings
– Rings
– Others

2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)

– Supermarkets & Hypermarkets
– Online
– Others

3. Type Outlook (Revenue, USD Million, 2017 – 2030)

– Gold
– Silver
– Platinum
– Others

4. Regional Outlook (Revenue, USD Million, 2017 – 2030)

– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa

Frequently Asked Questions

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