UK Jewellery Market Size, Share, Industry Forecast 2028

The uk jewellery market size was valued at USD 4,336 million in 2021 and is poised to grow at a significant CAGR of 13.1% during 2022-2028. Jewellery is a personal adornment intended to accentuate the natural beauty of the human body. It is constructed of metal and could even include priceless diamonds. There are numerous Jewellery options, such as necklaces, earrings, rings, and bracelets. It frequently acts as an example of long-term investment or as a status symbol. High-income consumers choose branded, premium luxury goods like diamonds and platinum, while middle-class consumers are becoming more interested in silver and gold. Due to the growing popularity of upscale goods, consumers are turning more and more toward Jewellery consumption. The Jewellery improves the appearance and adds beauty while showcasing current fashion trends. The majority of people use Jewellery as a status symbol, which is altering how people view Jewellery and is anticipated to increase demand for Jewellery.

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The UK Jewellery Market Growth Factors:
A well-established market for Jewellery goods is the UK. The industry is expanding in the UK thanks to important trends including Jewellery customization, the rise in popularity of pop-up stores, as well as the blending of costume Jewellery with current fashion. Additionally, the quick uptake of online luxury Jewellery marketing is significantly boosting sales of the Jewellery category.

A rise in demand during the course of holidays and special occasions. Additionally, the UK is seeing an increase in demand for smart jewellery. These elements are accelerating this market's expansion over the anticipated time frame. There are some limitations and difficulties that will prevent the market from expanding. In the UK, there has been a decrease in recent years in the number of tourists. Additionally, fewer weddings have been reported. the UK has fewer independent jewellers than it once did. These are undoubtedly difficult challenges that could, to some extent, restrain the expansion of the U.K. jewellery market.

The UK Jewellery Market Segmentation:
The UK Jewellery Market on the basis of Product, the market is segregated into Branded Jewellery, Unbranded Jewellery. On the basis of Sales Channel, the market is fragmented into Monobrand Stores, Multibrand Boutiques, Department Stores, Online Shops, and Others. On the basis of Material, the market is classified into Gold, Platinum, Diamonds, Silver, and Others.

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The UK Jewellery Market Regional Analysis:
The U.K. jewellery market is experiencing rising demand as a result of a number of supportive factors, including falling gold and silver prices, an increase in digital shoppers, a rising GDP per capita, an increase in the number of women working, the middle class, and social media users, as well as an increase in the number of urban residents and high net worth individuals (HNWI). The income of millennials is also increasing.

Key players in the uk jewellery market report are Argos, Beaverbrooks, Cartier, Chopard, De Beers, Debenhams, Ernest Jones, Fenwick, Hinds, Fossil, Fraser Hart, Goldsmiths

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