Luxury Jewelry Market is Booming Massively by 2023 with Top Key Players Guccio Gucci S.p.A., Graff Diamonds Corporation, Société Cartier, Buccellati Holding Italia SpA, Tiffany & Co., K. Mikimoto & Co. Ltd.

Luxury jewelry is a style statement among the consumers, which leads to increasing demand for different styles and designs in the luxury jewelry market. Implementation of new technologies such as Computer Aided System (CAD) in the jewelry creation is expected to boost the growth of the luxury jewelry market. CAD technology helps manufacturers to create new and unique jewelry designs, which in comparison to manual designs is challenging. Hence, shifting trend of consumers towards new and fusion designs is expected to boost the luxury jewelry market.

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Competative Landscape:

Some of the key players in the global luxury jewelry market are

Guccio Gucci S.p.A. (Italy)
Graff Diamonds Corporation (UK)
Société Cartier (France)
Compagnie Financière Richemont SA (Switzerland)
Buccellati Holding Italia SpA (Italy)
Bulgari S.p.A. (Italy)
Chopard International SA (Switzerland)
Tiffany & Co. (US)
Harry Winston Inc. (US)
Mikimoto & Co. Ltd. (Japan)

Segmental Analysis:

Based on type, the global luxury jewelry market has been segmented into necklace, ring, bracelet, earrings and others. The earring segment accounted for the maximum market share in 2017 and is expected to grow at a high rate during the forecast period as there is an increasing fashion trend where women prefer earring as the statement jewelry with their outfit, owing to the factor that earrings are easier to carry and match to the outfit.

The global luxury jewelry market has been segregated, by material, into gold, silver, platinum and others. The gold segment is expected to dominate the global luxury jewelry market during the assessment period, as gold is most preferred metal in luxury jewelry market.

The global market for luxury jewelry has also been classified, by end-user, as men, and women. The women segment is expected to dominate the market during the review period. Owing to the factor that jewelry enhances the appeal of the outfit.

The global luxury jewelry market has been segregated, by distribution channel, into store-based and non-store based.

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Regional Analysis:

On the basis of region, the global luxury jewelry market has been segmented by North America, Europe, Asia-Pacific, and RoW. Asia Pacific is expected to dominate the global luxury jewelry market owing to increasing awareness about branded jewelry. Additionally, increasing influence of promotional campaigns through social media has led to high adoption of modern fashion trends in consumers.

The luxury jewelry market in Europe is expected to grow rapidly due to factors such as growing popularity of customized jewelry according to consumer requirement and increasing demand for fusion of traditional jewelry with trending fashion is expected to boost the luxury jewelry market during the forecast period.

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