The global luxury jewellery products market was valued at USD 99.9 billion in 2021 and is projected to expand at a CAGR of 7.2% from 2022 to 2030. The increasing disposable incomes of consumers and the rise in demand for jewelry as a fashion statement are the major factors driving the market growth. Furthermore, the increasing number of working women and the growing trend of gifting jewelry items are fuelling market growth.

The rising trend of customization, with an increasing adoption of 3D printing technology, is expected to boost the market growth. For instance, in April 2021, LVMH announced its collaboration with the American fashion designer and entrepreneur Jaden Smith to launch a luxury jewelry collection. The collection was designed using 3D printing technology. Furthermore, the ability of 3D printing to produce intricate and complex designs is projected to drive the demand for premium-priced jewelry items.

The rising trend of online shopping and the increasing presence of e-commerce platforms are anticipated to positively impact the market growth. The growth of the e-commerce platform is primarily attributed to the convenience of shopping and the availability of a wide variety of products at discounted prices. Furthermore, the increasing penetration of social media and influencer marketing is expected to drive market growth.

Furthermore, major market players are launching new products to cater to the rising demand for luxury jewelry products. For instance, in May 2021, Swarovski launched its new collection of luxury jewelry, titled ‘Atelier Swarovski’, featuring jewelry crafted with Swarovski crystals. The collection includes earrings, rings, necklaces, and pendants, targeting the high-end market.

Moreover, the increasing focus on innovation and product development is expected to offer lucrative opportunities for market participants. For instance, in April 2021, Tiffany & Co. launched its ‘Tiffany T1’ collection, with a range of jewelry pieces featuring innovative designs. The collection includes diamond engagement rings, wedding bands, and necklaces and is targeted at the millennial population. The company has also announced plans to launch a new line of wedding and commitment jewelry, targeting the bridal market.

The diamond segment held the largest market size in 2020, accounting for a share of 40.2%. Increasing demand for diamond jewelry around the world is a key factor driving the growth of this segment. Factors such as the increasing disposable income in the developing countries and rising trend of gifting diamond jewelry on special occasions are further fueling the growth of this segment. Additionally, increasing online sales of luxury jewelry across the globe is projected to boost the demand for diamond jewelry in the near future.

The gold segment is expected to register the fastest CAGR of 8.5% over the forecast period. Rising gold prices are driving the demand for gold jewelry. According to the World Gold Council, gold prices rose by 17% in 2020, which in turn increased the demand for gold jewelry. Moreover, increasing demand for gold jewelry as a symbol of status and increasing awareness about the investments in gold are augmenting the growth of the segment.

The department stores and specialty stores segment is estimated to account for the largest market share of over 30.4% in 2022. Department stores and specialty stores provide luxury jewelry products from renowned and renowned vendors to consumers across the world. These stores have a variety of products from different vendors. The presence of a wide range of products from well-known vendors attracts customers and therefore, increases the sales of the luxury jewelry products in these stores.

The online segment is expected to register the highest CAGR of 14.7% over the forecast period. The increasing penetration of the Internet and smartphones has led to a rise in online purchases of luxury jewelry products. Online stores provide customers with a wide range of luxury jewelry products to choose from and offer discounts, which attracts customers. Moreover, customers can compare the price of luxury jewelry products from different vendors, enabling them to make informed decisions.

The high-end jewelry segment accounted for the largest revenue share of 60.4% in the year 2022. The rising demand for unique and stylish designs to stand out in the crowd is driving the growth of the segment. The growing popularity of online luxury jewelry stores is further driving the segment. For instance, in April 2021, Tiffany & Co. launched its online store in India. Additionally, the increasing trend of gifting and increased spending on jewelry during special occasions is further propelling the segment.

The mid-range jewelry segment is anticipated to expand at the highest CAGR of 10.7% over the forecast period. The increasing demand for affordable luxury jewelry is driving the segment. The availability of a wide range of designs, shapes, and sizes at low prices is further driving the segment. Additionally, the growing popularity of fast fashion and the emergence of numerous online marketplaces are also creating opportunities for the segment.

Europe dominated the market and accounted for the largest revenue share of over 37.3% in 2022. The high purchasing power of the consumers in the region is one of the major factor driving the market. An upsurge in the disposable income of the people in the region is further expected to drive the growth of the market. For instance, in April 2021, the luxury jewelry brand, TACORI, announced a partnership with the British luxury fashion house, Burberry, to provide a unique collection of jewelry to the customers.

Asia Pacific is expected to witness the highest growth in the coming years. The increasing demand for luxury jewelry among the population in the region is expected to fuel the growth of the market over the forecast period. Additionally, the presence of a large population in the region is expected to drive the demand for luxury jewelry. For instance, in November 2021, the jewelry brand, Cartier, opened its first flagship store in India.

In this part of the luxury 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 luxury jewelry business. Usually, these projections are drafted for a 5-year period.

Revenue Assumptions
The main source of revenues for a luxury jewelry business comes from retail sales, wholesale sales, and private labeling. Here you will find a list with a description of each of them and other possible sources of profit such as custom orders, online sales, and special events.

Projecting Expenses
In this section, all the regular expenses related to keeping the luxury jewelry business running will be described. The list of operating expenses includes materials, tools, and supplies, wages, rent, utilities, insurance policies, advertising and marketing, and others.

Some of the key companies operating in the luxury jewelry 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 Tiffany True collection of jewelry which includes engagement rings and wedding bands.

– In July 2022, Cartier launched a new collection of necklaces and bracelets inspired by the colors of the ocean.

– In September 2022, Buccellati launched the ‘Tears of Joy’ collection of diamond jewelry.

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

– Tiffany & Co.
– Cartier
– Van Cleef & Arpels
– Bulgari
– Harry Winston
– Graff Diamonds
– Bvlgari
– Chopard
– Buccellati
– Fabergé

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 luxury jewelry products market based on product, distribution channel, type, and region:

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

– Bracelets
– Necklaces
– Earrings
– Rings
– Others

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

– Specialty Stores
– Department Stores
– Online
– Others

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

– Fine Jewelry
– Costume Jewelry

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

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

[Q]: What is the Potential of Product Innovation in the Luxury Jewelry Market?
[A]: The potential of product innovation in the luxury jewelry market is high. With the emergence of new technologies, product innovation has become increasingly important in the luxury jewelry market. Companies are constantly introducing new materials and designs to meet the ever-changing needs of customers. Innovative product design, materials, and craftsmanship have become important factors for companies to remain competitive in the market.

[Q]: Who are the Key Players in the Luxury Jewelry Market?
[A]: Key players in the luxury jewelry market include Richemont, Swatch Group, Kering, Damiani, and Tiffany & Co.

[Q]: What are the Factors Driving the Luxury Jewelry Market?
[A]: Factors driving the luxury jewelry market include the increasing disposable income of consumers, the rise of the middle class population, the growing acceptance of luxury and fashion jewelry, and the growing demand for personalized jewelry.

[Q]: What are the Major Segments in the Luxury Jewelry Market?
[A]: The major segments in the luxury jewelry market include rings, earrings, necklaces and pendants, bracelets, and brooches.

[Q]: What are the Major Regions in the Luxury Jewelry Market?
[A]: The major regions in the luxury jewelry market are North America, Asia Pacific, Europe, and the Rest of the World.