Jewellery Market Size, Share, Growth, Trends, and Global Industry Analysis: By Type (Chain, Ring, Earrings, Necklace, Bracelet) By Metal Type (Silver, Gold, Palladium, Platinum, Rhodium, Other) and Region

The jewellery market size was valued at US$ 289,198.2 million in 2023 and is projected to reach a value of US$ 390,930.1 million by 2030, at a CAGR of 4.4% from 2024-2030. Moreover, the U.S. Jewellery market is projected to grow significantly, reaching an estimated value of US$ 163,618.1 million by 2032. The market is driven by rising disposable incomes, urbanization, and the deep-rooted cultural significance of jewellery in regions such as Asia-Pacific. Innovation in design and growing interest in personalization and bespoke pieces cater to different consumer tastes. The demand for sustainable and ethically sourced materials also reflects the broader trend of consumerism toward transparency and responsibility.

However, the market is faced with restraining factors including economic fluctuations and volatile prices of precious metals. Counterfeit products have also been prevalent in the market. Despite these obstacles, technological advancements and growing e-commerce platforms continue to drive the market forward to make jewellery accessible to everyone in the world. Competition in the market is quite high, and key players are expanding their product lines and enhancing customer experiences to maintain their advantage.

Key Players

The Jewellery market share is inclusive of several companies such as Big Cartel, Aftcra, Agere SRL, Artfire, Storenvy, Zibbet and Etsy.

Big Cartel are an e-commerce site that allows independent artists and small businesses to set up stores selling jewellery and other merchandise online. This has been created with a user-friendly and affordable solution that caters to makers as well as indie businesses since the birth of Big Cartel back in 2005. They offer various plans-including free ones-in an effort to attract most of their business at a diversified scale of growth.

Key Takeaways

• The fastest-growing region is Asia-Pacific
• Based on type, the necklace segment holds a 48.6% market share
• Based on metal type, the gold segment holds a 38.2% market share

Facts & Figures

• Demand for diamond jewellery in the U.S. has increased by 25% more than that of 2021, and it is largely because of pent-up demand and economic recovery after the pandemic, as reported by Rapaport.
• India's Gold Imports: India's gold imports rose by 33% to around 121 tonnes in April 2023 from April 2022, which is a huge stimulus for jewellery demand in the country, according to Reuters.
• Platinum Jewellery Sales in Japan: Platinum jewellery sales from May 2022 through May 2023 went up by 15% amid more favour towards platinum for engagement rings and wedding bands, mainly younger segments.

Key Developments

In 2021: PCJeweller and P. N. Gadgil & Sons Ltd, two prominent Indian jewellery companies, merged to create a larger entity, aiming to leverage combined resources and expand their market reach

Jewellery Market Segmentation

By Type: The Necklace segment has the maximum share in the jewellery market. Necklaces happen to be highly popular by their versatility in usage and the cultural importance that is bestowed upon them due to their traditions and celebrations. They are considered quintessential accessories in fashion parlance and are often bestowed as gifts on special days such as marriages, birthdays and anniversaries. Since the demand for necklaces remains strong across regions as well as demographics, hence the segment commands a leadership share in the market.

By Metal Type: The Gold segment occupies the largest share in the jewellery market. Gold jewellery always remains in demand since it carries a lot of cultural value, especially in countries like India and China, where it is embedded in all traditions, festivals, and marriages. Gold has remained the most enduring value as an investment and can be fashioned into any kind of jewellery, such as necklaces, bracelets, and rings, which gives it the maximum market share.