The Global Jewelry Market size is expected to reach USD 462.56 Billion in 2028 and register a revenue CAGR of 5.3% over the forecast period, according to a latest report by Reports and Data. Market revenue growth is primarily driven by increase in consumer preference towards affordable and fashionable jewelry. Major changes in customer behavior and purchasing patterns and rising adoption of western lifestyle are other factors boosting revenue growth of the market. Shifting consumer preference towards lightweight and customized jewelry is also expected to boost popularity of distinct collections such as regular or daily wear, work wear and fashion wear. Growing customer base of wealthy class and upper-middle class in developing countries is expected to drive demand for jewelry. Rise in disposable income in countries such as India is another factor driving demand for jewelry.
The latest industry analysis report by Reports and Data, titled 'Global Jewelry Market,' carefully studies the global Jewelry industry and primarily focuses on its core mechanism and major factors influencing industry growth. The Jewelry industry report explains the most important aspects of industry including key dynamics such as drivers, restraints, opportunities, threats, challenges, and several micro-economic and macro-economic factors. The report serves as a valuable source of information on the Jewelry industry and throws light on its intensely competitive scenario, drawing readers' focus on the key business growth strategies employed by the key market players. The report's precise market projections are based on historical, current, and future market contexts. Additionally, the report highlights the forecast global market value, upcoming market trends, gross revenue generation, manufacturer and buyer landscape, available products & services, technological breakthroughs, and end-use industries.
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Major players in the market include:
- LVMH Group
- Pandora A/S
- Signet Jewelers Ltd.
- Compagnie Financière Richemont SA
- The Swatch Group Ltd
- Chow Tai Fook group
- Malabar Gold and Diamonds
- Harry Winston, Inc.
Some Key Highlights From the Report
- In January 2021, LVMH Moët Hennessy Louis Vuitton SE, which is the leading luxury product group in the world, announced the complete acquisition of Tiffany & Co., which is a global luxury jeweler. This strengthens LVMH group's position in the global jewelry market. The acquisition is expected to transform Watches & Jewelry division of LVMH and complement LVMH's 75 distinguished Maisons.
- Gold segment is expected to account for largest revenue share in the global jewelry market over the forecast period owing to increase in imports and exports of gold. Rising demand for lightweight and customized jewelry as fashion wear, work wear, regular or daily wear is expected to drive revenue growth of this segment during the forecast period.
- Ring segment is expected to register robust revenue growth over the forecast period. Growing trend towards customization and personalization for engagement and wedding rings as customer are wanting a more boutique experience is expected to drive growth of this segment.
- Online segment is expected to account for a robust revenue share in the global jewelry market owing to steady growth in the e-Commerce industry, rising usage of social media for branding and marketing, and increasing presence of top brands online.
- The jewelry market in Asia Pacific is expected to account for largest revenue share over the forecast period. Rising disposable income, changing lifestyle, and growth in online sales channel are major factors driving growth of the jewelry market in the region.
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For the purpose of this report, Reports and Data has segmented the global jewelry market based on material type, product, mode of sale, and region:
Material Type Outlook (Revenue, USD Billion; 2018-2028)
Product Channel Outlook (Revenue, USD Billion; 2018-2028)
Mode of Sale Outlook (Revenue, USD Billion; 2018-2028)
- Online Sale
- Retail Sale
Regional Outlook (Revenue, USD Billion; 2018-2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Saudi Arabia
- South Africa
- Rest of MEA
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The Jewelry Market Report Offers:
- Deep insights into the Jewelry market landscape
- Key details about the regional segmentation of the Jewelry market
- Analysis of the crucial market trends with regards to both current and emerging trends
- Comprehensive impact analysis of COVID-19 pandemic on the Jewelry industry
- Extensive overview of the key manufacturers and prominent players of the industry
Comprehensive study of the market segmentation and recent developments
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