Jewelry Market Segmentation, Analysis by Recent Trends and Development till 2030

Posted on 2023-02-08 by researchinsights in Consumer Services // 0 Comments

San Francisco, California , USA, Feb 09, 2023 — /EPR Network/ —

Jewelry Industry Overview

The global jewelry market size was valued at USD 249.02 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 8.5% from 2022 to 2030.

Increasing disposable income and innovative jewelry designs offered by manufacturers are expected to drive the product demand. Changing lifestyles and perceptions of jewelry as a status symbol are expected to boost the growth of this market. COVID-19 has had a positive effect on jewelry sales, with 30% of consumers in a recent poll reporting they purchased more jewelry during the pandemic, according to a study from the supplier group, the Plumb Club. The survey entitled “The Plumb Club Industry & Market Insights 2021” also noticed that 49% of consumers bought as much jewelry as they always did, while 21% purchased less.

Gather more insights about the market drivers, restrains and growth of the Global Jewelry Market

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.

Bridal jewelry also plays a significant role in driving the market. In countries like India, high expenditure on wedding ceremonies and celebrations is expected to positively impact the market growth. Women are focusing on the latest trends when it comes to jewelry and accessories. The availability of customization for such products is an important factor among consumers and is likely to bode well for the market. Additionally, rising awareness regarding the authenticity of the metals and gems used in the jewelry pieces is driving the market. Manufacturers are not only adhering to authenticity and quality standards but also educating consumers through advertising campaigns.

Diamonds are becoming increasingly popular due to an increase in consumer disposable income and spending capacity. Diamonds are considered to be one of the earth’s most impressive natural materials due to their stunning attributes and are perceived as a reflection of one’s financial status. The market for jewelry is also expected to witness significant growth via the online channel as major players are focusing on using their websites to announce product launches, sales, and other relevant information. However, rising e-commerce frauds and a lack of knowledge about hallmarks on jewelry are expected to hinder the market growth.

Browse through Grand View Research’s Clothing, Footwear & Accessories Industry Research Reports.

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Jewelry Market Segmentation

Grand View Research has segmented the global jewelry market on the basis of product, material, and region:

Jewelry Product Outlook (Revenue, USD Million, 2017 – 2030)
- Necklace
- Ring
- Earring
- Bracelet
- Others
- Minerals
Jewelry Material Outlook (Revenue, USD Million, 2017 – 2030)
- Gold
- Platinum
- Diamond
- Others
Jewelry Regional Outlook (Revenue, USD Million, 2017 – 2030)
- North America
- Europe
- Asia Pacific
- Central & South America
- Middle East & Africa (MEA)

Key Companies profiled:

Some prominent players in the global Jewelry market include

Tiffany & Co.
Louis Vuitton SE
Signet Jewelers Limited
Pandora Jewelry, LLC
H.Stern
Richemont
Chow Tai Fook Jewellery Group Limited
Malabar Gold & Diamonds
SWAROVSKI GROUP
GRAFF

Order a free sample PDF of the Jewelry Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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