Jewelry Market Research Report: Information By Product (Necklace, Rings, Earrings, Bangles & Bracelets, And Others), Material Type (Gold, Platinum, Diamond, And Others), End User (Men, And Women), Distribution Channel (Online, Offline), And Region (North America, Europe, Asia-Pacific, Latin America, And Middle East & Africa)—Forecast Till 2028
- 150 Pages
- Report Code: DMRRE000031
The global jewelry market is projected to register a CAGR of around 8.0% to reach USD 483.5 billion by the end of 2028.
Jewelry is personal embroidery worn as an accessory to highlight the attractiveness of the human physique. To make jewelry, precious metals are used such as gold, diamond, silver, and platinum among others. Various sorts of jewelry are offered which comprise necklaces, rings, earrings, or bracelets. It is frequently used as a paradigm of long-term investment or as a status symbol.
Although the middle-class population has a growing need for gold and silver, those with high income seek premium and luxury products that contain precious jewels such as diamonds and platinum. Depending on the type of metal or gems used, the price of the product may vary. For generations, they have served as a symbol of wealth, and people have used them to beautify and enhance their entire appearance.
Consumers' growing spending power is one of the major factors affecting demand for exquisite and sophisticated jewelry around the world. Furthermore, in response to the quick fashion trend, various manufacturers are now selling fashion jewelry composed of plated alloys and crystal stones through online platforms. They're also concentrating on digital marketing to disseminate product information, raise brand awareness, and maintain long-term relationships with existing customers. Aside from that, a number of foreign retail conglomerates are acquiring local brands in order to reach a larger consumer base and increase their market share. Furthermore, diamond jewelry is gaining popularity around the world as a fantastic type of investment that can be used in the future in the event of inflation, market collapse, or bankruptcy.
The growing popularity of manufacturers who combine technology with ornamentation is helping to increase product consumption. For instance, the Ringly Luxe Smart Ring, includes a 14k gold-plated base with a huge gemstone, as well as a variety of technical capabilities like activity tracking such as burned calories, distance, steps, and more. In addition, the incorporation of GPS for safety features in the event of theft or robbery in numerous ornament items is projected to boost demand for the product.
(COVID-19 Impact Analysis)
During the COVID epidemic, the worldwide jewelry market came to a full halt. The entire market was put on hold when all mining operations were temporarily banned, after the worldwide lockdown imposed by governments to stop the spread of the virus. Additionally, owing such crisis, consumers' interests quickly switched from purchasing luxury things to purchasing consumer goods, resulting in a decrease in demand for jewelry pieces. Furthermore, the current demand could not be met as all distribution networks were shut down, preventing items from being imported or exported. Post pandemic, the demand for jewelry is again anticipated to increase the market.
Based on product, the global jewelry market has been divided into necklace, rings, earrings, and bangles & bracelets, among others. The ring segment has the biggest market share owing to consumers' growing interest in the intricate designs and intricacies of rings. Rings are also considered to be trendy and elegant. Rings come in a variety of sizes and forms. They're not just for weddings or anniversaries; they're also utilized on a regular basis. Silver, for example, is known for its healing powers and for promoting interior heat and circulation. As a result, a large number of people wear silver rings. The availability of custom-made rings and awareness of the spiritual benefits of various metals are predicted to drive the ring product category in the forecast period.
Based on material type, the global Jewelry market has been segmented into gold, platinum, diamond, and others. The diamond segment is expected to be the leading market stakeholder as its capacity to dazzle and reflect light makes it more appealing. Furthermore, the perception of diamond jewelry as a solid investment and a backup in the event of inflation, bankruptcy, market collapse, and other events drives higher demand. The gold category is predicted to rise rapidly as people become more aware of the health benefits of wearing gold jewelry. Gold jewelry has a variety of health benefits, including regulating body temperature, speeding up the recuperation process after an injury, acting as a stress reliever, and more.
Based on end user, the worldwide market is classified into men and women. The market size for women has accounted highest market share as they purchase jewelry in wedding, anniversaries or at any special occasions. Based on distribution channel, the market is categorized into online and offline. The offline market has registered highest growth in the market.
The Jewelry market has been studied across North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In terms of sales and consumption, Asia Pacific accounted highest global market share in 2020. This is due to strong demand from nations such as China and India, where gold is widely used. Due to its rapidly developing economy and rising consumer spending, China was the market's leading country. Due to the strong demand for gold jewelry at weddings and celebrations in India, it is quite popular. Furthermore, the presence of Chow Tai Fook, a prominent player, in China, Hong Kong, and Macau is projected to increase jewelry demand in the region.
The Middle East and Africa are predicted to have strong growth, with a CAGR of 8.0 percent. The jewelry designs in the United Arab Emirates and Saudi Arabia are particularly unique and well-known around the world, which is projected to enhance market growth in this area. Furthermore, due to the presence of gold mines and the advent of the UAE as the largest diamond trading hub, this region is likely to contribute considerably to market growth throughout the projection period.
Key players operating in the global jewelry market include Tiffany & Co.(United States), Pandora Jewelry LLC (Denmark), Signet Jewellers (Bermuda), H. Stern (Brazil), Chow Tai Fook (China), Swarovski (India), Cartier International SNC (France), Chanel (France), Buccellati (Italy), Harry Winston Inc. (United States), Chopard (Switzerland), LVMH (France).
Global Jewelry Market, by Product
- Bangles & Bracelets
Global Jewelry Market, by Material Type
Global Jewelry Market, by End User
Global Jewelry Market, by Distribution Channel
Global Jewelry Market, by Region
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East& Africa
- Jewelry manufacturers
- Accessories companies
- Suppliers and traders of jewelries
- Investors and trade experts
Table of Content
1.1. Report Description and Scope
1.2. Research Scope
1.3. Research Methodology
1.3.1. Market Research Process
1.3.2. Market Research Methodology
2. Executive Summary
2.1. Jewelry Market, 2018-2028 (XXXX Million)
2.2. Jewelry Market: Snapshot
3. Jewelry Market – Industry Analysis
3.1. Jewelry Market: Market Dynamics
3.2. Market Drivers
3.6. Porter’s Five Forces Analysis
3.7. Supply Chain Analysis
3.8. Import Export Analysis
4. Impacts of COVID-19 on Market Growth
5. Global Jewelry Market – Product Analysis
5.4. Bangles & Bracelets
6. Global Jewelry Market – Material Type Analysis
7. Global Jewelry Market – End User Analysis
8. Global Jewelry Market – Distribution Channel Analysis
9. Global Jewelry Market - Regional Analysis
9.1. Global Jewelry Market overview: by Region
9.2. North America
9.3.6. Rest of Europe
9.4. Asia Pacific
9.4.4. South Korea
9.4.7. Rest of Asia Pacific
9.5. Latin America
9.5.4. Rest of Latin America
9.6. The Middle East and Africa
9.6.1. GCC Countries
9.6.3. South Africa
9.6.4. Rest of Middle East & Africa
10. Jewelry Market– Competitive Landscape
10.1. Company market share analysis
10.1.1. Global Jewelry Market: company market share, 2020
10.2. Strategic development
10.2.1. Acquisitions & mergers
10.2.2. New Product launches
10.2.3. Agreements, partnerships, collaborations and joint ventures
10.2.4. Research and development and Regional expansion
10.2.5. Competitive Benchmarking
11. Company Profiles
11.1. Tiffany & Co.
11.1.3. Product Portfolio
11.1.4. Business Strategy
11.1.5. Recent Developments
11.2. Pandora Jewelry LLC
11.2.3. Product Portfolio
11.2.4. Business Strategy
11.2.5. Recent Developments
11.3. Signet Jewellers
11.3.3. Product Portfolio
11.3.4. Business Strategy
11.3.5. Recent Developments
11.4. H. Stern
11.4.3. Product Portfolio
11.4.4. Business Strategy
11.4.5. Recent Developments
11.5. Chow Tai Fook
11.5.3. Product Portfolio
11.5.4. Business Strategy
11.5.5. Recent Developments
11.6.3. Product Portfolio
11.6.4. Business Strategy
11.6.5. Recent Developments
11.7. Cartier International SNC
11.7.3. Product Portfolio
11.7.4. Business Strategy
11.7.5. Recent Developments
11.8.3. Product Portfolio
11.8.4. Business Strategy
11.8.5. Recent Developments
11.9.3. Product Portfolio
11.9.4. Business Strategy
11.9.5. Recent Developments
11.10. Harry Winston Inc..
11.10.3. Product Portfolio
11.10.4. Business Strategy
11.10.5. Recent Developments
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