USD 326.08 billion
Report ID: SQMG15L2001 | Region: Global | Published Date: April, 2023 | Pages: 165 | Tables: 92 | Figures: 76
Global Jewelry Market size was valued at USD 326.08 billion in 2021 and is poised to grow from USD 340.69 billion in 2022 to USD 482.22 billion by 2030, growing at a CAGR of 4.6% in the forecast period (2023-2030).
Due to the fact that the leading companies are concentrating on using their websites to announce new releases, sales, and other pertinent information, the jewellery industry is anticipated to experience significant growth via the online channel. However, it is anticipated that increasing e-commerce frauds and a lack of understanding regarding jewellery hallmarks will impede market expansion.
The increasing acceptance of jewelry among men is also propelling the growth of the market. Products such as cufflinks, plain gold chains, tie bars, cartography necklaces, and signet rings are some of the products commonly in demand among men. A vast client base makes it possible for manufacturers to cater to a large market and earn profits. The introduction of new designs and emerging fashion trends are attracting customers and manufacturers are leveraging this frequent change in fashion to design unique products to attract customers.
US Jewelry Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 326.08 billion
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The global jewelry market is segmented based on product type, material and region. Based on product type it is categorized into: necklace, ring, earring, bracelet and others. Based on material it is categorized into: gold, platinum, diamond and others. Based on region it is categorized into: North America, Europe, Asia-Pacific, South America, and MEA.
Jewelry Market Analysis by Product Type
Based on product, the jewelry market is divided into jewelry, studs, rings, bracelets and others.
The ring is projected to be the main segment because of the rising concerns towards the ring, which is to mean or represent draw in and marital status. Consequently, this helps to push the rising inclination of the item over different kinds of portion Additionally, the rising number of the male populace having the longing to wear a ring is supposed to fuel the interest. Hoops, neckbands, wristbands, and others have shown a critical presence inferable from the rising utilization of them items for beautification and improvement of looks, particularly, among the females.
Jewelry Market Analysis by Material
The diamond section is expected to be the lead market investor inferable from its capacity to shimmer and mirror light that makes it more alluring than different sorts of portions. Moreover, diamonds being considered as a wise speculation and a reinforcement in the event of expansion, market breakdown, and others impels the utilization rate.
Then again, the gold segment is supposed to stand a powerful development as individuals are progressively mindful of the medical advantages of wearing gold trimmings Gold adornments have medical advantages, for example, controlling internal heat level, accelerating the recuperation interaction during injury, going about as a de-stressor, and others.
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In 2021, North America represents a huge offer in the worldwide jewelry market for gems and is expected to stay one of the main districts in the gauge period attributable to the forceful publicizing and marking of the items.
In the meantime, portions of the Asia Pacific, which incorporate India and China, are quickly filling regarding income and utilization. Gold is consumed for a huge scope in China because of its quickly creating economy.
The jewelry market development in India can be credited to the high meaning of gems in Indian culture, rising expectations for everyday comforts, and a developing impact of web-based entertainment on customers.
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Jewelry Market Driver
Jewelry Market Restraint
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Jewelry have gotten some momentum in the developing business sector because of way of life changes and an ascent in the costs of valuable metal ornaments, adding to the development of the business size. The opposition in the jewelry market is extraordinary as a portion of the players are among the notable producers of jewelry and diamonds. Major players are including Tiffany & Co. (U.S), Louis Vuitton SE (France), Signet Jewelers Limited (Bermuda), Pandora Jewelry, LLC (U.S), H.Stern (Brazil), Richemont (Switzerland), Chow Tai Fook Jewellery Group Limited (Hongkong), Malabar Gold & Diamonds (India), Tata Sons Private Ltd (India), The Swatch Group AG (Switzerland), Tanishq Ltd (India), Cartier SA (France) and Others. Aside from this, few worldwide retail are gaining local brands to arrive at a more extensive purchaser base and grow their portion of the overall industry
Top Players in the Global Jewelry Market
Jewelry Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, by product type, the ring segment of the jewelry market has the largest revenue share in the year 2021 as of the rising concerns towards the ring, which is to mean or represent draw in and marital status, and it is worn by both male and female. Material-wise, the Diamond sub-segment has dominated the market with the largest market share in 2021. Region-wise, the North America region accounted highest market share in the year 2021, followed by Asia Pacific.
|Market size value in 2021||USD 326.08 billion|
|Market size value in 2030||USD 340.69 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Jewelry Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Jewelry Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Jewelry Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Jewelry Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
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