Jewellery Market Set for Steady Growth: Expected to Hit USD 518.2 Billion by 2032

Jewellery Market Research Report: By Product Type, By Material, By Price Range By Target Audience, By Occasion and By Regional - Forecast to 2032.

NEW YORK, NY, UNITED STATES, February 14, 2025 /EINPresswire.com/ -- Jewellery Market Size was estimated at 363.07 (USD Billion) in 2023. The Jewellery Market Industry is expected to grow from 377.71(USD Billion) in 2024 to 518.2 (USD Billion) by 2032. The Jewellery Market CAGR (growth rate) is expected to be around 4.03% during the forecast period (2024 - 2032).

jewellery market is poised for remarkable growth, driven by evolving consumer preferences, increasing disposable incomes, and the rising demand for unique, high-quality jewellery pieces. According to the latest research report, the jewellery market is segmented by product type, material, price range, target audience, occasion, and region, offering an in-depth analysis of trends, opportunities, and growth forecasts up to 2032.

The jewellery industry continues to thrive, fueled by cultural significance, fashion trends, and technological advancements in jewellery manufacturing. The market encompasses various product types, including rings, earrings, necklaces, bracelets, and pendants, catering to diverse customer needs. Increasing demand for customized and designer jewellery is shaping industry trends, while digital transformation and e-commerce platforms further propel market expansion.

Key Playes :

Buccellati ,Louis Vuitton ,Graff Diamonds ,Van Cleef & Arpels ,Patek Philippe ,Cartier ,Harry Winston ,Van Damme ,Rolex ,Bvlgari ,Chow Tai Fook ,Chanel ,Piaget ,Tiffany & Co. ,Mikimoto

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Segmentation Analysis

By Product Type

The jewellery market is classified into rings, earrings, necklaces, bracelets, and pendants. Among these, rings and necklaces hold a dominant share due to their popularity in weddings, engagements, and gifting. Earrings and bracelets also witness significant demand, driven by evolving fashion trends and increasing consumer spending on accessories.

By Material

Material selection plays a crucial role in defining the value and appeal of jewellery. The report segments the market into gold, silver, platinum, diamond, and gemstone jewellery. Gold remains the preferred choice due to its cultural importance and investment value, whereas platinum and diamond jewellery attract luxury buyers. The demand for gemstone jewellery is rising, particularly in emerging markets where colored stones are associated with astrological beliefs and aesthetic appeal.

By Price Range

Jewellery offerings vary across different price segments, including low, mid, high, and luxury ranges. The mid and high-price segments dominate the market, driven by consumers seeking premium-quality jewellery with unique designs. The luxury segment, fueled by high-net-worth individuals and aspirational consumers, continues to experience growth, particularly in developed markets. On the other hand, the low-price segment caters to budget-conscious buyers, particularly in developing regions where affordability is a key factor.

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By Target Audience

The jewellery market serves a broad spectrum of consumers, segmented into women, men, children, and couples. Women remain the largest consumer base, purchasing jewellery for personal use, special occasions, and investment purposes. However, the men’s jewellery segment is experiencing rapid growth due to changing fashion preferences and increasing awareness of grooming and accessorizing. The children's jewellery segment, often influenced by cultural traditions, is also expanding, with parents seeking safe and stylish options for young wearers. Meanwhile, couples contribute significantly to market demand through engagement and wedding jewellery purchases.

By Occasion

Jewellery purchases are often driven by special occasions, including weddings, engagements, anniversaries, birthdays, and gifting. The wedding segment holds a substantial share, with bridal jewellery being a major revenue contributor, particularly in regions where weddings are lavish and culturally significant. Engagement rings and anniversary gifts continue to fuel market growth, while birthdays and general gifting occasions further add to sales, especially in the fine jewellery segment.

Regional Insights

North America

The North American jewellery market is characterized by a strong preference for luxury and designer jewellery. The presence of leading jewellery brands, increasing disposable income, and high demand for diamond and platinum jewellery drive market expansion. The U.S. remains the largest contributor to the regional market, with e-commerce playing a significant role in sales growth.

Europe

Europe remains a significant market, with consumers favoring heritage brands and artisanal craftsmanship. Countries like Italy and France are renowned for their exquisite jewellery designs, while demand for sustainable and ethically sourced jewellery is gaining momentum. The luxury jewellery segment continues to thrive in countries like the UK and Germany.

Asia-Pacific

Asia-Pacific dominates the global jewellery market, led by major consumers such as China and India. The cultural significance of gold jewellery, high wedding expenditures, and increasing urbanization contribute to market growth. The region also witnesses strong demand for branded and luxury jewellery, with digital platforms facilitating greater consumer reach.

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South America

South America's jewellery market is growing steadily, supported by increasing consumer spending and a growing middle class. Brazil remains a key market, with rising demand for gold and gemstone jewellery. Local craftsmanship and indigenous designs add uniqueness to the jewellery offerings in this region.

Middle East & Africa

The Middle East is a prominent market for gold and luxury jewellery, with the UAE and Saudi Arabia leading the demand. Cultural preferences for gold jewellery and high purchasing power drive sales. Meanwhile, Africa presents growth opportunities with its rich reserves of diamonds and gemstones, fueling both local and international demand.

Industry Trends and Future Outlook

Several key trends are shaping the future of the jewellery market. Sustainable and ethically sourced jewellery is gaining traction, with consumers becoming more conscious of environmental and social impacts. Lab-grown diamonds and recycled metals are witnessing increased adoption, particularly among younger buyers. The integration of technology, such as blockchain for authentication and augmented reality for virtual try-ons, is revolutionizing the consumer shopping experience. Additionally, personalized jewellery is on the rise, with consumers seeking unique, customized pieces that reflect individual style and sentiment.

Looking ahead, the jewellery market is expected to witness substantial growth, driven by rising disposable incomes, increasing digital adoption, and evolving fashion trends. Emerging markets present lucrative opportunities for industry players, while established brands continue to expand their global footprint through innovation and strategic partnerships.



TABLE OF CONTENTS:

1 EXECUTIVE SUMMARY
2 MARKET INTRODUCTION
3 RESEARCH METHODOLOGY
4 MARKET DYNAMICS
5 MARKET FACTOR ANALYSIS
6 Jewellery MARKET, BY FORM
7 Jewellery MARKET, BY CATEGORY
8 Jewellery MARKET, BY APPLICATION
9 Jewellery, BY REGION
10 COMPETITIVE LANDSCAPE

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