Global Jewelry Market Size By Product, By End-Use, By Geographic Scope And Forecast

Jewelry Market Size And Forecast

Jewelry Market size was valued at USD 331.62 Billion in 2020 and is projected to reach USD 441.60 Billion by 2028, growing at a CAGR of 3.65% from 2021 to 2028.

Wow, the global jewelry market is really taking off! A bunch of things are helping, like gold and silver getting more affordable and tons more people shopping online. Plus, everyone's on social media, cities are getting bigger, and people have more money to spend – thanks to a rising GDP and a bigger middle class. We're also seeing more women in the workforce and a surge in HNWI, not to mention a boost from international tourism and online retail. If you're looking for the inside scoop, the Global Jewelry Market report gives you the full picture. It breaks down all the important stuffthe key pieces, what's hot, what's holding things back, who's competing, and everything that's making a real difference.

Global Jewelry Market Definition

Jewelry is made up of ornamental objects or decorative items made by shaping and grinding jewels or precious metals. Necklaces, pins, and bracelets, among other things, are used as personal ornaments. Depending on the type of metal or jewels used, the price of the product can vary. The gem and jewelry industry are one of the few industries that have stayed fluid for many decades. Famines, earthquakes, and other natural disasters haven’t had much of an impact since there has always been a market for jewelry, and artisans and jewelers have always pushed themselves harder to fulfill the demand.

Customers prefer to see jewelry designs in person, unlike other retail items, because the touch-and-feel aspect has taken hold, according to the survey. During the holiday season and wedding seasons, there is a lot of demand for retail jewelry. As a result, retailers anticipate a turnaround in demand sentiment in the second half of the current fiscal year, following a difficult first half. Other factors supporting a demand revival, according to the survey, include expectations of a further rise in gold prices, changing preferences towards gold as an asset class, better rural demand, and so on.

Global Jewelry Market Overview

A huge client base in the jewelry industry makes it feasible for manufacturers to cater to a broad market and earn profits. Manufacturers are leveraging this regular change in fashion to innovate more outputs and designs to attract customers. Moreover, improving lifestyles and the perception of jewelry as a status symbol are anticipated to increase the growth of this market. Additionally, the expanding acceptance of jewelry among men is another factor driving the market growth.

Products such as plain gold chains, cufflinks, tie bars, cartography necklaces, and signet rings are several of the products popular among men. Furthermore, the acceptance of gold chains and necklaces is no longer restricted to weddings and functions. Men and women wear plain gold chains and carry rings and anklets as a fashion statement. Bracelets are also gifted on different occasions or events like birthdays and ceremonies. This consumption behavior has positively anticipated propelling the growth of the global Jewelry Market.

There are certain constraints and limitations faced that will limit the overall market growth factors. The factors such as building political tension between countries have resulted in the ban on importing different ornament products. This is estimated to hinder growth through the forecast period. Further, an expanding number of countries globally maintaining strict regulations on importing and exporting ornament goods has occurred in the growing tariff made on the products.

Thus, this leads to an expansion in the overall cost of the product and repels many consumers. These are the potential restraints hampering the overall growth of the global Jewelry Market. Nevertheless, the high number of the male population possessing the desire to wear ornaments, robust growth as people are increasingly aware of the health benefits of wearing gold ornaments, and untapped potential in emerging markets offer lucrative growth opportunities in the forecast period.

Global Jewelry MarketSegmentation Analysis

The Global Jewelry Market is segmented on the basis of Product, End-Use, and Geography.

Jewelry Market, By Product

• Necklace
• Earrings
• Ring
• Bracelet
• Other

Based on Product, the market is bifurcated into Necklaces, Earrings, Rings, Bracelets, and Others. The rings segment of the global Jewelry Market is expected to develop at a faster CAGR during the forecast period, based on product type. Ring jewelry is worn by both men and women as a fashion statement. Earrings and bracelets are often provided as gifts for a variety of occasions, such as birthdays and anniversaries. This consumption pattern is expected to have a positive effect on consumer growth. Rings aren’t just for engagements and anniversaries; they’re often worn on a daily basis.

Jewelry Market, By End Use

• Gold
• Platinum
• Diamond
• Others

Based on End Use, the market is bifurcated into Gold, Diamond, Platinum, and Others. Due to the depreciating value of diamond jewelry and the limited supply of platinum around the world, the diamond segment is expected to rise at a faster CAGR in the global Jewelry Market during the forecast period. Diamonds are becoming more common as a result of disposable income around the world. Thanks to their magnificent qualities, diamonds are considered one of the most striking natural materials on the planet.

Jewelry Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of the world

When we look at the Jewelry Market around the world, we can break it down by regionNorth America, Europe, Asia Pacific, and everywhere else. Right now, North America is a big player, mainly because they're really good at advertising and branding their jewelry. And it looks like they'll stay on top for a while. But don't count out Asia Pacific! Places like India and China are seeing their sales and how much people are buying grow super fast. China, with its booming economy, loves its gold. And in India, jewelry is a huge part of the culture, people are getting wealthier, and social media is making a big impact, all leading to serious market growth.

Key Players

The “Global Jewelry Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Tiffany & Co., Pandora, Signet Jewellers, H. Stern, Chow Tai Fook, Swarovski, Cartier, Buccellati, Chow Tai Fook Jewellery Company Limited, and Chanel. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

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We'll dive deep, looking at the market from all angles – not just the money side, but also the human side. Expect to see the market's value (in good old USD Billion) broken down by category. We'll pinpoint which areas and regions are set to explode with growth and which ones are already leading the pack. Think of it as a geographical tour of product/service use, with a spotlight on what's driving the market in each area. We'll also size up the competition, ranking the big names and highlighting their latest moves (new products, partnerships, expansions, and acquisitions over the last five years). Each company gets its own profile, complete with an overview, insights, product comparisons, and a SWOT analysis. Get a clear picture of where the market is now and where it's headed, considering both opportunities and obstacles in established and emerging markets. We'll even use Porter's five forces to dissect the market from every conceivable angle. Plus, you'll get a deep dive into the value chain and a look at upcoming market dynamics and growth potential. And don't forget, you'll have access to 6 months of analyst support after purchase.

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