Global Gold And Diamond Jewellery Market Size By Product Type, By Material, By Distribution Channel, By Geographic Scope And Forecast
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
Gold Diamond Jewellery Market size was valued at USD 355 Billion in 2023 and is projected to reach USD 474.5 Billion in 2030 growing at a CAGR of 4.7% during the forecasted period 2024 to 2030.
Global Gold Diamond Jewellery Market Drivers
The market drivers for the Gold Diamond Jewellery Market can be influenced by various factors. These may include
Economic Development Rising disposable earnings and economic prosperity frequently result in more consumer spending on upscale products, such as jewellery made of gold and diamonds.
Cultural Importance In many countries, jewellery made of gold or diamonds has symbolic and cultural significance. They have historically been connected to festivities, customs, and as prestige and money symbols.
Trends in Fashion The demand for particular kinds of jewellery is impacted by shifts in lifestyle and fashion trends. Customers’ constant pursuit of the newest fashions and patterns affects the dynamics of the market.
Particular Events On important occasions like weddings, anniversaries, and birthdays, jewellery is frequently bought. The demand for gold and diamond jewellery rises in tandem with the frequency and magnitude of festivities.
Promotion and Labelling Jewellery manufacturers that use effective marketing techniques might affect consumer preferences. Consumer decisions are significantly influenced by promotional activity, reputation, and brand image.
Growing Middle Class The market for gold and diamond jewellery is rising mostly due to the middle class’s increase in emerging economies. More people are spending money on luxuries as they move into the middle class.
Demand for Investments A few customers see gold as an inflation hedge and a store of value. Demand may be driven by this investment component, particularly in uncertain economic times.
Technological and Design Innovations Technological developments in jewellery design and production can result in the production of fresh, eye-catching designs that draw buyers who value originality and creativity.
Internet-based retail The jewellery market now has more options thanks to the expansion of e-commerce. Customers may conveniently search, compare, and buy gold and diamond jewellery through online platforms.
Sustainable and Ethical Practices Consumer preferences for jewellery made using ethical materials and production methods may be influenced by growing industry awareness of ethical and sustainable business practices.
Global Gold Diamond Jewellery Market Restraints
Several factors can act as restraints or challenges for the Gold Diamond Jewellery Market. These may include
Variations in Gold Prices Numerous economic factors affect the price of gold, and changes in the price of gold can have an effect on consumer purchasing decisions. A decline in the market for gold jewellery could result from rising gold prices.
Uncertainty in the economy Consumer expenditure on luxury products like gold and diamond jewellery may decline as a result of economic downturns and unpredictabilities.
Shifting Customer Tastes Classic gold and diamond jewellery may see a decline in demand due to changing customer tastes and fashion changes. Alternative material or stylistic preferences could cause consumers to spend differently.
Rivalry with Other Exotic Products Because the luxury goods market is cutthroat, people may decide to spend their money on experiences, travel, or other high-end items rather than jewellery.
Global Supply Chain Problems Natural disasters, health crises, or geopolitical events can all produce disruptions in the global supply chain that effect the availability and production of gold and diamonds, hence influencing the market.
High Costs of Production and Retail Labour, materials, and overhead are just a few of the expenses related to producing and selling gold and diamond jewellery, which can have an effect on profit margins and restrict customer affordability.
Concerns about the environment and ethics Growing consumer knowledge of the ethical and environmental problems associated with the mining and jewellery industries may encourage them to look for alternatives or choose jewellery that is made and sourced responsibly.
Exchange rates for currencies The cost of raw materials, manufacturing, and international trade can all be impacted by fluctuations in currency exchange rates, which can have an overall negative effect on the competitiveness of the gold and diamond jewellery market.
The effects of virtual currency Consumer behaviour may be impacted by the emergence of digital currencies and their possible use in transactions, especially among younger generations who may favour digital assets over more conventional forms of wealth like jewellery.
Adherence to Regulations For businesses in the gold and diamond jewellery sector, strict laws pertaining to fair labour practices, environmental standards, and mining methods can raise operating expenses.
Global Gold Diamond Jewellery Market Segmentation Analysis
The Gold Diamond Jewellery Market is segmented based on Product Type, Material, Distribution Channel And Geography.
Necklaces and Chains Pendants, lockets, statement necklaces.
Earrings Studs, hoops, drop earrings.
Bracelets and Bangles Charm bracelets, cuffs, tennis bracelets.
Brooches and Pins Decorative accessories worn on clothing.
Watches Luxury watches often incorporate gold and diamonds.
Gold Diamond Jewellery Market, By Material
Gold Jewelry 24K, 22K, 18K, etc.
Diamond Jewelry Based on diamond quality, cut, carat, and color.
Combination Jewelry Gold and diamond combinations, two-tone jewelry.
Gemstone Jewelry Incorporating other precious or semi-precious stones.
Silver and Platinum Jewelry Alternative materials for fine jewelry.
Gold Diamond Jewellery Market, By Distribution Channel
Offline Retail Traditional brick-and-mortar jewelry stores.
Online Retail E-commerce platforms specializing in jewelry.
Specialty Stores Boutiques and shops dedicated to high-end jewelry.
Department Stores Large retail chains offering a variety of products.
Gold Diamond Jewellery Market, By Geography
North America
Europe
Asia-Pacific
Latin America
Middle East & Africa
Key Players
The major players in the Gold Diamond Jewellery Market can be categorized into
Chow Tai Fook
Richemont
Signet Jewelers
LVMH Moet Hennessy
Tiffany & Co
De Beers
Alrosa
Chow Sang Sang
Malabar Gold & Diamonds
Blue Nile
James Allen
Brilliant Earth
Pandora
Swatch Group
Damiani
Stuller
Report Scope
REPORT ATTRIBUTES
DETAILS
STUDY PERIOD
2020-2030
BASE YEAR
2023
FORECAST PERIOD
2024-2030
HISTORICAL PERIOD
2020-2022
UNIT
Value (USD Billion)
KEY COMPANIES PROFILED
Chow Tai Fook, Richemont, Signet Jewelers, LVMH Moet Hennessy, Tiffany & Co, De Beers, Alrosa, Chow Sang Sang, Malabar Gold & Diamonds, Blue Nile.
SEGMENTS COVERED
By Product Type, By Material, By Distribution Channel And By Geography.
CUSTOMIZATION SCOPE
Free report customization (equivalent up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope
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We'll dive into the market using both qualitative (think feelings and opinions) and quantitative (the hard numbers) analysis, segmenting it based on everything from the economy to, well, everything else! You'll get a clear picture with market value data in USD Billion for each slice and dice of the market. We'll point out which region and segment are predicted to be the fastest growing and which one is likely to be the king of the hill. Plus, we'll break down each geographic area, showing you what's being bought and sold and what's influencing the market there. Check out the competitive landscape section to see where the big players rank, along with details on their latest product launches, partnerships, expansions, and acquisitions over the last five years, all wrapped up in detailed company profiles. These profiles give you a good company overview, insider insights, how their products stack up, and a clear SWOT analysis. We'll also give you our take on the present and future, covering the latest happenings (growth opportunities, drivers, challenges, and restraints) in both up-and-coming and established areas. We'll even use Porter's five forces to really dig into the market from different angles and give you insight into the Value Chain. And finally, expect insights into the market dynamics, alongside growth opportunities for the years ahead and, to top it off, we offer 6-month post sales analyst support!
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