Press release
Global Jewelry Market Set to Reach USD 413.86 Billion by 2032, Growing at a 5.28% CAGR
Jewelry Market
The global jewelry market is on a steady growth trajectory, projected to reach USD 482.22 billion by 2030, expanding at a CAGR of 4.7% from 2024 to 2030. In 2024, the market was valued at USD 274.21 billion, and by 2032, it is expected to grow to USD 413.86 billion. The surge in demand for jewelry is driven by evolving fashion trends, increased disposable income, and the integration of technology in jewelry production and retailing
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►Competitive Landscape: Key Players Driving Market Expansion
The jewelry market is dominated by major players, including Tiffany & Co., Pandora, Chow Tai Fook, Louis Vuitton SE, Richemont, Signet Jewelers, Swarovski, Cartier, and Malabar Gold & Diamonds. These companies are leveraging advanced manufacturing techniques and sustainable sourcing methods to appeal to modern consumers
► Regional Insights: Growth, Opportunities, Trends, and Market Consolidation
North America - Jewelry Growth in the U.S. Market
North America, particularly the United States, is experiencing a surge in demand for jewelry, with a strong inclination toward branded and designer jewelry. The rapid expansion of e-commerce platforms has significantly contributed to this trend. Additionally, major acquisitions in the region include LVMH's purchase of Tiffany & Co., solidifying its dominance in the luxury jewelry segment.
Asia Pacific - Higher Demand in China and India
Asia Pacific remains the largest market for jewelry, driven by rising disposable incomes and cultural significance of gold and diamond jewelry. India and China alone account for over 50% of global gold jewelry demand. The region is home to leading jewelry brands like Malabar Gold & Diamonds, Tanishq, and Chow Tai Fook. Recent industry consolidation includes mergers between Queelin and Wallace Chan, enhancing regional market penetration.
Europe - Luxury Jewelry Trends and Expansion
Europe continues to be a stronghold for high-end jewelry brands such as Cartier, Chopard, and Buccellati. The region's market is driven by a preference for customized and ethically sourced jewelry. Acquisitions like Richemont's expansion into digital luxury retail highlight a shift toward online jewelry sales.
Middle East & Africa - Jewelry Market Consolidation
The Middle East and Africa (MEA) are seeing robust demand, particularly in Saudi Arabia and the UAE, where gold jewelry remains a preferred investment. The rise in boutique and designer brands catering to ultra-high-net-worth individuals is shaping the regional market. Damas Jewellery's strategic partnerships are helping expand luxury jewelry accessibility.
►Recent Mergers and Acquisitions in the Jewelry Industry
Signet Jewelers (U.S.) acquired Blue Nile to strengthen its online presence and reach a younger demographic.
Tiffany & Co. (U.S.) was acquired by LVMH (France), expanding its luxury jewelry portfolio.
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►Jewelry Market Segmentation
by Product Type
Rings
Necklaces and Pendants
Earrings
Bracelets and Bangles
Watches
Brooches and Pins
Rings, necklaces and pendants, earrings, bracelets and bracelets, watches, and brooches and pins are the different market segments. With the greatest jewelry market share during the projected period, the rings sector is anticipated to maintain its supremacy, having done so in 2024. Particularly important to the appeal and sales of rings are wedding bands and engagement rings. Engagement rings are a mainstay in the jewelry market since they are frequently seen as symbolic and necessary for weddings and proposals.
by Material
Gold
Diamond
Platinum
Stainless steel
Other
The market is divided into stainless steel, gold, diamonds, platinum, and other categories. The jewelry market was dominated by the gold and diamond sector in 2024 and is anticipated to continue to do so during the forecast period. Weddings, engagements, and anniversaries are among the life events and special occasions when gold jewelry is worn. In many societies, it has cultural and emotional importance. In addition to its ornamental value, gold is regarded as an investment, which is anticipated to accelerate the expansion of the jewelry sector. Particularly in areas where gold is a form of savings and can be readily sold when needed, people purchase gold jewelry as a store of value.
by End-user
Men
Women
Children
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►Jewelry Market Key Players
1. Tiffany & Co.
2. Pandora
3. Chow Tai Fook
4. Louis Vuitton SE
5. Richemont
6. GRAFF
7. Signet Jewelers Limited
8. H. Stern
9. Malabar Gold & Diamonds
10. Buccellati
11. Cartier
12. LVMH Group
13. SHR Jewelry Group
14. Swarovski
15. Tata Sons Private Ltd
16. The Swatch Group AG
17. Rajesh Exports Ltd.
18. Chopard
19. Hary Winston, Inc.
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