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The jewelry market size is forecast to increase by USD 107.9 billion, at a CAGR of 5.45% between 2023 and 2028.
Explore in-depth regional segment analysis with market size data - historical 2018-2022 and forecasts 2024-2028 - in the full report.
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The market continues to evolve, with dynamic market activities unfolding across various sectors. Brick-and-mortar stores face increasing competition from e-commerce platforms, as online retailers offer convenience and a wider selection of jewelry types. However, the tactile experience of trying on jewelry in person remains a draw for many consumers. Costume jewelry maintains its popularity, with mass-produced pieces often incorporating the latest trends. Meanwhile, fine jewelry, including engagement rings and wedding bands, continues to be a significant market, with consumers seeking quality and craftsmanship. Technological advancements, such as 3D printing and CAD/CAM design, are transforming the jewelry industry.
Conflict-free diamonds and ethical sourcing are becoming increasingly important, as consumers demand transparency and sustainability. Jewelry care is a constant concern, with consumers seeking out jewelry insurance, repair services, and cleaning solutions. Antique jewelry and estate pieces also remain popular, with collectors and enthusiasts seeking authenticity and history. Jewelry distributors and luxury jewelry brands cater to different market segments, with statement pieces and sustainable materials gaining traction. Watches, including those with complications, remain a staple in the market. Jewelry manufacturing processes, such as bezel setting, pavé setting, channel setting, and prong setting, continue to evolve, with handcrafted and recycled metals gaining popularity.
Jewelry auctions offer collectors and investors a chance to acquire rare and unique pieces. The market is a continually evolving landscape, with consumers seeking quality, sustainability, and innovation. From precious metals and diamonds to costume jewelry and watches, the market caters to a diverse range of preferences and budgets.
The jewelry industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The specialist retailers segment is estimated to witness significant growth during the forecast period.
The market encompasses various segments, including metal alloys, jewelry repair, pavé and channel setting, jewelry appraisal, cad/cam design, wedding bands, handcrafted jewelry, carat weight, jewelry design, sustainable jewelry, estate jewelry, jewelry care, brick-and-mortar stores, costume jewelry, bezel setting, fine jewelry, jewelry insurance, 3D printing, conflict-free diamonds, antique jewelry, e-commerce platforms, jewelry distributors, luxury watches, mass-produced jewelry, jewelry manufacturing, fashion jewelry, engagement rings, ethical sourcing, luxury jewelry brands, statement pieces, recycled metals, online jewelry retailers, vintage jewelry, diamond grading, bridal jewelry, jewelry restoration, halo setting, everyday jewelry, prong setting, watches with complications, jewelry retailers, jewelry cleaning, jewelry auctions, precious metals, and jewelry wholesalers.
Specialist retailers, including exclusive brand stores, multi-brand stores, and premium fashion stores, are experiencing significant growth in the market. companies are expanding their offline sales by opening stores in various geographic locations, enabling them to cater to diverse consumer categories and sell products efficiently. The increasing retail channels in different cities and regions contribute to consumer familiarization with various jewelry types. Social media platforms and celebrity endorsements significantly influence consumer preferences. Fine jewelry, such as engagement rings and wedding bands, remain popular choices, while fashion jewelry and costume jewelry cater to a broader consumer base. Sustainable and ethical sourcing practices are gaining traction, with an increasing demand for recycled metals and conflict-free diamonds.
Online jewelry retailers and e-commerce platforms have emerged as major sales channels, while brick-and-mortar stores continue to maintain their significance. Jewelry restoration and jewelry cleaning services ensure the longevity of precious pieces. Jewelry design trends include pavé and channel settings, halo settings, and prong settings. Innovations in technology, such as cad/cam design and 3D printing, enable the creation of intricate designs and custom pieces. Luxury jewelry brands and statement pieces continue to attract consumers, while watches with complications cater to the watch enthusiasts. Jewelry auctions offer collectors and investors an opportunity to acquire rare and antique pieces. Jewelry insurance and jewelry appraisal services provide peace of mind to consumers, ensuring the security and value of their jewelry collections.
The market is a dynamic and evolving industry, with constant innovation and trends shaping its future.
The Specialist retailers segment was valued at USD 306.70 billion in 2018 and showed a gradual increase during the forecast period.
APAC is estimated to contribute 59% to the growth of the global market during the forecast period.Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The market in Asia Pacific is experiencing notable growth due to various trends and consumer preferences. Sustainability and ethical sourcing are becoming increasingly important to consumers, leading many jewelry brands to prioritize transparency in their supply chains. This shift towards responsible production and sourcing is creating new opportunities for growth in the region. Additionally, there is a rising trend among Chinese consumers towards branded jewelry, driven by a desire for quality assurance and the status associated with well-known brands. In terms of design and production, technologies such as CAD/CAM design, 3D printing, and recycled metals are gaining popularity.
These innovations allow for more intricate designs and sustainable production methods. Furthermore, the use of precious metals, conflict-free diamonds, and other high-quality materials continues to be a key trend in the market. Jewelry repair and restoration services are also in demand, with consumers seeking to maintain the longevity of their pieces. Brick-and-mortar stores continue to dominate the retail landscape, but e-commerce platforms are gaining traction as consumers increasingly shop online. Jewelry insurance, appraisal services, and jewelry cleaning are also essential offerings in the market. The market caters to various segments, including fine jewelry, costume jewelry, engagement rings, bridal jewelry, and statement pieces.
Luxury jewelry brands, mass-produced jewelry, and fashion jewelry all have a presence, with watches, both with and without complications, being a significant category. Estate jewelry and vintage jewelry are also popular, offering consumers unique and often one-of-a-kind pieces. Jewelry distributors play a crucial role in the market, supplying retailers and brands with raw materials and finished products. The market is diverse and dynamic, with constant innovation and evolution in design, production, and consumer preferences.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
In the dynamic market, consumers seek out exquisite pieces that reflect their unique style and personality. From elegant necklaces and bracelets to stunning rings and earrings, each item is meticulously crafted with care. Precious metals like gold, silver, and platinum are popular choices, while gemstones such as diamonds, sapphires, rubies, and emeralds add a touch of allure. Customization is a key trend, with personalized pendants and monogrammed charms gaining popularity. Trends shift with the seasons, with statement pieces and minimalist designs gracing runways and red carpets alike. The market caters to diverse tastes, offering affordable options as well as luxury collections. Shoppers explore various platforms, from brick-and-mortar stores to online marketplaces, to find their perfect addition to their collection. Timeless pieces and innovative designs coexist in this ever-evolving market, making it an enduring source of fascination and desire.
The jewelry market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the jewelry market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, jewelry market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry.
Cartier (Richemont Group) - The company specializes in high-end jewelry, featuring an extensive collection of yellow gold diamond necklaces, gold diamond pendants, and white gold diamond necklaces, among other exquisite pieces.
The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Dive into Technavio's robust research methodology, blending expert interviews, extensive data synthesis, and validated models for unparalleled Jewelry Market insights. See full methodology.
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Market Scope |
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Report Coverage |
Details |
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Page number |
202 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.45% |
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Market growth 2024-2028 |
USD 107.9 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
4.98 |
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Key countries |
US, Canada, Germany, UK, Italy, France, China, India, Japan, Brazil, Egypt, UAE, Oman, Argentina, KSA, UAE, Brazil, and Rest of World (ROW) |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
We can help! Our analysts can customize this jewelry market research report to meet your requirements.
1 Executive Summary
2 Technavio Analysis
3 Market Landscape
4 Market Sizing
5 Historic Market Size
6 Qualitative Analysis
7 Five Forces Analysis
8 Market Segmentation by Distribution Channel
9 Market Segmentation by Type
10 Market Segmentation by Material
11 Market Segmentation by Product Type
12 Market Segmentation by End-User
13 Customer Landscape
14 Geographic Landscape
15 Drivers, Challenges, and Opportunity/Restraints
16 Competitive Landscape
17 Competitive Analysis
18 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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