Luxury Jewelry Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2017 to 2021 and Forecast 2022 to 2028

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Luxury Jewelry Market: By Raw Material (Gold, Platinum, Diamond, Precious Pearls, Gemstones, and Others, By Product (Necklaces, Ring, Earrings, Bracelets, Others), By Application (Women, Men, and Children), By Distribution Channel (Online and Offline), and Geography

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Report

Description

Luxury Jewelry Market is valued at USD 78,957.3 million in 2021 and is poised to grow at a significant CAGR of 3.4% over 2022–2028. Demand for sustainable jewelry and gender-fluid jewelry is on the rise, which is helping to propel the luxury jewelry market forward. Many customers seek out distinctive and meaningful pieces, and luxury jewelry has evolved into a way for self-expression. Jewelry lines have incorporated non-traditional forms, shapes, and materials. Asymmetrical cuts, gemstone flaws, utilitarian products, and opaque gems all contributed a layer of personality to appeal to clients’ sense of individuality. As gender fluidity grows more prevalent, boundaries are being broken in jewelry trends, from watches to wedding rings and beyond. While male jewelry has long been available, more unisex options are becoming available. For example, Gucci’s jewelry collection, was designed for both men and women, and Bugari’s B. Zero 1 Rock designs are modern, fashionable, and unisex. Generation Z is particularly resistant to labelling and categorization. This enables marketers to target products to a diverse group of individuals, connections, and events. A growing number of digital buyers, an increasing female population, an increasing middle-class population, and growing tourism are all factors listed as contributing to the market’s global expansion. Furthermore, new notions of status (online, virtual, and in person) have resulted in new goals and prospects for the jewelry industry in the coming years. The global luxury jewelry market is both active and rapidly expanding. Consumer behavior and fashion trends drive the international luxury jewelry business, which is highly fragmented. To compete in the global and local markets, jewelry manufacturers must be aware of changing trends and advances. Integration of new technologies like Computer-Aided systems (CAD) in jewelry manufacture is projected to help the industry develop. The rising demand for men’s jewelry represents a potential opportunity for market expansion. Traditionally, women are more likely than males to purchase high-end jewelry. Top jewelry brands are promoting innovative products. The market is driven further by changing lifestyles and the notion of jewelry as a status symbol.

Recent Market Developments:

In May 2021, Futura Jewelry, a US-based leading luxury jewelry brand launched the first mercury-free gold jewelry collection. Understanding the environmental consequences of gold mining, the product launch is aimed at reducing the threat of mercury emissions on the earth.

Luxury Jewelry Market

MARKET SUMMARY
-
3.4%
  • Study Period– 2022 – 2028
  • Base Year– 2021
  • CAGR– 3.4%
  • Largest Market– North America
  • Fastest Growing Market– Asia Pacific

Luxury Jewelry Market

  • The report on global luxury jewelry market gives historical, current and future market sizes (US$ Mn) based on product, raw material, application, distribution channel, and geography.
  • luxury jewelry market report gives comprehensive outlook across the region with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America and Middle East and Africa.
Key Players
  • Guccio Gucci S.p.A.
  • The Swatch Group Ltd.
  • Richemont
  • Tiffany & Co.
  • GRAFF
Luxury Jewelry Market Dynamics

Due to men’s increased interest in self-grooming and aesthetic attractiveness, this trend is changing. Furthermore, the rising influence of social media has resulted in widespread adoption of current fashion trends among guys. Such elements are driving up demand for men’s luxury jewelry such as bracelets, rings, necklaces, and other items. This result in manufacturers concentrating their efforts on these items in order to acquire a competitive advantage. The high cost of luxury jewelry is a major stumbling block to the market’s expansion. Because of its exorbitant price, luxury jewelry is only sought by a select group of people.


Europe Got Significant Share

Luxury Jewelry Market

The luxury Jewelry market in Europe is likely to hold the highest revenue share in 2022, and, in the following years, it is predicted to increase rapidly. Europe commanded the highest proportion of the market, followed by North America. These regions are made up of industrialized countries with high per capita incomes and big luxury brands, all contributing to market growth. Furthermore, these countries' high female labor force participation rate is a significant element driving market expansion. Moreover, the Asia-Pacific region is expected to have a high CAGR during the projection period. The popularity of high-end bulky jewelry and high-value diamond items in the Middle East and the Far East has dived. The uncertain economic future generated an imbalance in sales and exports in the luxury jewelry business.

Latin America
Latin-America
North-America
North-America
Europe
Europe
Asia Pacific
Asia-Pacific
Middle East
Middle East

Key

Features of the Report

  • The report provides granular level information about the market size, regional market share, historic market (2017-2021) and forecast (2022-2028)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments and startup’s details that are actively working in the market
  • The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
  • The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market
Luxury Jewelery Market Segmentation


Location

GEOGRAPHY

Frequently Asked Questions

The luxury jewelry market is projected to expand at a CAGR of 3.4% during the forecast period

Guccio Gucci S.p.A., The Swatch Group Ltd., Richemont, Tiffany & Co., GRAFF, Louis Vuitton SE

Europe is the fastest-growing region for luxury jewelry market


Report

Company Profile

  • Guccio Gucci S.p.A.
  • The Swatch Group Ltd.
  • Richemont
  • Tiffany & Co.
  • GRAFF
  • Louis Vuitton SE
  • Signet Jewelers Limited
  • Chopard International SA
  • MIKIMOTO
  • Pandora Jewelry, LLC

Description

Luxury Jewelry Market is valued at USD 78,957.3 million in 2021 and is poised to grow at a significant CAGR of 3.4% over 2022–2028. Demand for sustainable jewelry and gender-fluid jewelry is on the rise, which is helping to propel the luxury jewelry market forward. Many customers seek out distinctive and meaningful pieces, and luxury jewelry has evolved into a way for self-expression. Jewelry lines have incorporated non-traditional forms, shapes, and materials. Asymmetrical cuts, gemstone flaws, utilitarian products, and opaque gems all contributed a layer of personality to appeal to clients’ sense of individuality. As gender fluidity grows more prevalent, boundaries are being broken in jewelry trends, from watches to wedding rings and beyond. While male jewelry has long been available, more unisex options are becoming available. For example, Gucci’s jewelry collection, was designed for both men and women, and Bugari’s B. Zero 1 Rock designs are modern, fashionable, and unisex. Generation Z is particularly resistant to labelling and categorization. This enables marketers to target products to a diverse group of individuals, connections, and events. A growing number of digital buyers, an increasing female population, an increasing middle-class population, and growing tourism are all factors listed as contributing to the market’s global expansion. Furthermore, new notions of status (online, virtual, and in person) have resulted in new goals and prospects for the jewelry industry in the coming years. The global luxury jewelry market is both active and rapidly expanding. Consumer behavior and fashion trends drive the international luxury jewelry business, which is highly fragmented. To compete in the global and local markets, jewelry manufacturers must be aware of changing trends and advances. Integration of new technologies like Computer-Aided systems (CAD) in jewelry manufacture is projected to help the industry develop. The rising demand for men’s jewelry represents a potential opportunity for market expansion. Traditionally, women are more likely than males to purchase high-end jewelry. Top jewelry brands are promoting innovative products. The market is driven further by changing lifestyles and the notion of jewelry as a status symbol.

Recent Market Developments:

In May 2021, Futura Jewelry, a US-based leading luxury jewelry brand launched the first mercury-free gold jewelry collection. Understanding the environmental consequences of gold mining, the product launch is aimed at reducing the threat of mercury emissions on the earth.

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