Australia Jewelry Market to Grow with a CAGR of 3.46% through 2030F

The Australia Jewelry Market is growing due to rising consumer demand for luxury items, increasing disposable incomes, evolving fashion trends, and a growing preference for personalized and sustainable jewelry options.

According to TechSci Research report, “Australia Jewelry Market – By Region, Competition Forecast & Opportunities, 2020-2030F”, the Australia Jewelry Market was valued at USD 3.02 Billion in 2024 and is expected to reach USD 3.69 Billion by 2030 with a CAGR of 3.46% during the forecast period. The Australia jewelry market has experienced steady growth over the past decade, driven by evolving consumer preferences, increasing disposable income, and the rising popularity of sustainable and ethically sourced materials. Jewelry holds a significant place in Australian culture, serving as a symbol of status, personal expression, and special occasions such as engagements, weddings, and anniversaries. The market encompasses a wide range of products, including fine jewelry made from precious metals and gemstones, fashion jewelry, and lab-grown diamonds. The sector’s resilience and adaptability have enabled it to navigate economic challenges while capitalizing on shifting consumer trends and technological advancements.

Consumer behavior in the Australia jewelry market is largely influenced by changing fashion trends, social media exposure, and the growing demand for customization and personalization. Modern consumers seek unique pieces that reflect their individual style and values, leading to a rise in demand for bespoke and tailored designs. The increasing interest in ethical consumption and sustainability has also shaped purchasing decisions, with consumers favoring jewelry made from recycled metals and lab-grown diamonds over traditional mined stones. Furthermore, brand reputation and transparency regarding sourcing and production practices have become important factors influencing consumer trust and loyalty.

The rise of lab-grown diamonds has been one of the most significant trends in the Australia jewelry market. Lab-grown diamonds offer a more affordable and environmentally friendly alternative to natural diamonds, appealing to younger consumers who prioritize sustainability and ethical production. Major brands, including Pandora and Swarovski, have introduced lab-grown diamond collections in Australia, reflecting a broader global shift toward sustainable luxury. The increased acceptance of lab-grown diamonds has not only expanded product offerings but also contributed to the growth of the mid-tier luxury segment, providing consumers with high-quality options at competitive prices.

The Australia jewelry market has also benefited from the expansion of e-commerce and online retail platforms. Digital channels have provided consumers with greater accessibility and convenience, allowing them to explore and purchase jewelry from the comfort of their homes. Online sales have seen a notable increase, particularly following the COVID-19 pandemic, which accelerated the shift toward digital shopping. Leading jewelry retailers have adapted by enhancing their online presence, offering virtual consultations, and improving customer service through personalized recommendations and interactive platforms. This digital transformation has opened new avenues for market growth and customer engagement.

Marketing and branding strategies have played a crucial role in shaping the competitive landscape of the Australia jewelry market. Celebrity endorsements, influencer partnerships, and high-profile brand ambassadors have proven effective in increasing brand visibility and consumer engagement. For example, Michael Hill’s appointment of Miranda Kerr as a brand ambassador reflects a strategic effort to align the brand with luxury and sophistication. Similarly, Cartier’s large-scale high jewelry exhibition in Sydney underscores the importance of experiential marketing in strengthening brand positioning and customer loyalty. Social media platforms have also become essential tools for showcasing new collections, engaging with consumers, and driving online sales.

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The Australia Jewelry Market is segmented into product type, material, gender, sales channel and region.

Based on material, Diamond jewelry is the fastest-growing segment in the Australia jewelry market, driven by increasing demand for both natural and lab-grown diamonds. Lab-grown diamonds, in particular, have gained popularity due to their affordability, ethical sourcing, and reduced environmental impact. Major brands like Pandora and Swarovski have introduced lab-grown diamond collections, appealing to younger, sustainability-conscious consumers. The growing preference for personalized and bespoke diamond pieces, including engagement rings and everyday wear, has also contributed to the segment’s expansion. As consumer awareness and acceptance of lab-grown diamonds increase, the diamond segment is expected to maintain strong growth in the coming years.

Based on region, Western Australia is the fastest-growing region in the Australia jewelry market, driven by a strong local economy and increasing demand for luxury and fine jewelry. The region's wealth, supported by the thriving mining and resource sectors, has boosted consumer spending on high-end jewelry. Additionally, Western Australia's growing tourism industry has contributed to increased sales, as tourists seek premium and locally inspired pieces. Major jewelry brands have expanded their presence in the region, capitalizing on the rising demand for both traditional and modern designs. This economic strength and consumer interest position Western Australia as a key growth driver in the market.

Major companies operating in Australia Jewelry Market are:

• Pandora Jewelry Pty Ltd
• Michael Hill Jeweller (Australia) Pty Ltd
• Richemont Australia Pty Limited
• Lovisa Pty Ltd
• Prouds Jewellers Pty Ltd
• Shiels Jewellers, Mimco Pty Ltd
• Louis Vuitton Australia Pty Ltd
• Swarovski Australia Pty Ltd
• Duraflex Group Australia (Thomas Sabo)
• Malabar Gold And Diamonds Limited

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“The Australia Jewelry Market is expected to continue evolving, driven by technological advancements, changing consumer preferences, and a growing focus on sustainability. The adoption of digital tools such as augmented reality (AR) for virtual try-ons and blockchain technology for supply chain transparency is likely to enhance the customer experience and build consumer trust. Furthermore, the rise of lab-grown diamonds and recycled metals is expected to shape product offerings and pricing strategies in the coming years. As consumer awareness of ethical sourcing and environmental impact increases, brands that prioritize sustainability and transparency will have a competitive advantage in the market.” said Mr. Karan Chechi, Research Director of TechSci Research, a research-based management consulting firm.

“Australia Jewelry Market By Product Type (Necklaces and Chains, Earrings, Rings, Bracelets, Others), By Material (Gold, Silver, Platinum, Diamond, Others), By Gender (Women, Men), By Sales Channel (Online, Offline), By Region, Competition Forecast & Opportunities, 2020-2030F”, has evaluated the future growth potential of Australia Jewelry Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the Australia Jewelry Market.

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