Jewelry Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Type (Necklace, Ring, Earrings, Bracelet, Others), By Material Type (Silver, Gold, Platinum, Diamond, Others), By Distribution Channel (Online and Offline), By Region & Competition, 2021-2031F

Forecast Period	2027-2031
Market Size (2025)	USD 267.15 Billion
CAGR (2026-2031)	6.29%
Fastest Growing Segment	Online
Largest Market	Asia Pacific
Market Size (2031)	USD 385.22 Billion

Market Overview

The Global Jewelry Market will grow from USD 267.15 Billion in 2025 to USD 385.22 Billion by 2031 at a 6.29% CAGR. Jewelry comprises items of personal adornment such as necklaces, rings, and bracelets that are typically crafted from precious metals and gemstones. The market is fundamentally driven by rising global disposable incomes and the deep cultural significance of these goods in weddings and festivals across major economies. Furthermore, the dual role of jewelry as both a fashion statement and a financial investment supports sustained consumer demand. According to the World Gold Council, in 2024, global spending on gold jewelry reached a record US$144 billion.

One significant challenge that could impede market expansion is the volatility and historic highs of raw material costs. When the prices of essential inputs like gold and diamonds surge, manufacturers are often compelled to raise retail prices, which directly impacts affordability for mass-market consumers. This price sensitivity can stifle volume growth in emerging regions and force a market shift toward lower-margin or alternative materials.

Key Market Drivers

The market is significantly reshaped by the rapid penetration of lab-grown diamonds and synthetic gemstones, which offer an ethically marketed and cost-effective alternative to mined stones. This shift allows consumers to access larger carat weights at accessible price points, thereby expanding the customer base to include younger demographics who prioritize sustainability and value. Retailers are aggressively integrating these products into their collections to mitigate the impact of high rough diamond prices and align with modern ethical standards. According to JCK Online, February 2025, Pandora reported that its lab-grown diamond collection achieved a 43% comparable sales increase in 2024. This robust performance illustrates how synthetic alternatives are capturing substantial market share and disrupting traditional pricing models.

Concurrently, there is a decisive growing preference for branded and organized jewelry retailers, driven by consumer demand for trust, certified purity, and superior design innovation. In key markets like India and China, shoppers are migrating from unorganized local family jewelers to established corporate brands that offer transparent exchange policies and seamless omni-channel experiences. According to Fortune India, May 2024, Titan Company recorded a 20% growth in its jewelry division income, reaching ₹38,353 crore for the fiscal year ended March 2024. This consolidation trend favors large-scale entities capable of sustaining extensive supply chains. According to The Centurion, December 2024, US jewelry sales increased by 4% year-over-year during the 2024 holiday shopping season, indicating that despite economic fluctuations, the appetite for jewelry across organized retail channels remains resilient.

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Key Market Challenges

The high volatility and escalating costs of raw materials serve as a primary restraint on the growth of the global jewelry market. As the prices of essential inputs like gold and diamonds reach historic peaks, manufacturers are compelled to increase wholesale and retail prices to protect their margins. This inflationary pressure directly impacts consumer affordability, causing a reduction in discretionary spending on luxury items. In price-sensitive regions, where jewelry is often purchased by weight for cultural reasons, steep price hikes frequently result in deferred purchases or a shift toward lighter, lower-margin items, thereby limiting overall revenue potential.

This adverse impact on volume is substantiated by recent industry performance data. According to the World Gold Council, in the third quarter of 2024, global gold jewelry demand decreased by 12 percent year-on-year to 459 tons as a direct result of record-high local gold prices. This contraction in consumption volume illustrates how elevated input costs create a barrier to market entry for mass-market consumers. Consequently, the market struggles to maintain volume growth as the gap between production costs and consumer purchasing power widens.

Key Market Trends

The growth of the second-hand and vintage resale market is fundamentally reshaping consumption patterns as buyers increasingly view jewelry as both a store of financial value and a sustainable choice. This trend is characterized by a surge in demand for authenticated, pre-owned luxury pieces, driven by economic caution and a rising desire for circular fashion. High-net-worth consumers are particularly active in this segment, seeking investment-grade heritage pieces that are resistant to market fluctuations. This shift towards longevity and provenance is evidenced by the robust performance of high-value consignments. According to The RealReal, August 2024, in the '2024 Luxury Resale Report', fine jewelry sales for pieces priced at $5,000 and above increased by 22% year-over-year, significantly outpacing other luxury categories.

Simultaneously, the rise of hyper-personalization and bespoke design services is transforming the retail landscape, as consumers move away from mass-produced styles in favor of unique items that reflect individual identity. Brands are aggressively integrating customizable elements directly into the customer journey, ranging from digital configuration tools to immediate in-store finishing services like engraving and stone selection. This strategy allows manufacturers to deepen emotional connections with clients while fostering stronger brand loyalty through co-creation. The rapid adoption of these services is visible in the operational results of major mass-market players. According to Pandora, November 2024, in the 'Interim Financial Report Q3 2024', the company's engraving services revenue grew by more than 100% during the third quarter, highlighting the intensifying demand for customized products.

Segmental Insights

The online distribution segment represents the fastest-growing category within the global jewelry market, driven by the integration of digital retail technologies and shifting consumer preferences. Retailers are utilizing augmented reality tools that enable virtual product trials, effectively reducing buyer hesitation regarding appearance and sizing. Additionally, improvements in secure logistics and verified certification processes have strengthened consumer trust in purchasing high-value items digitally. This expansion is further supported by the growing demand for convenience and transparency, particularly among younger demographics who prioritize accessibility and extensive inventory options over traditional brick-and-mortar experiences.

Regional Insights

Asia Pacific holds a dominant position in the global jewelry market, driven primarily by high consumption rates in China and India. The cultural significance of gold for weddings and festivals ensures consistent demand in these economies. Rising disposable incomes and rapid urbanization have further expanded the customer base for luxury items. Additionally, the region serves as a major manufacturing hub due to skilled labor and established supply chains. Initiatives like mandatory hallmarking by the Bureau of Indian Standards have also improved transparency, strengthening consumer confidence in product quality across the sector.

Recent Developments

• In October 2025, Swarovski announced a series of strategic collaborations to commemorate its 130th anniversary, reinforcing its presence in the lifestyle and fashion sectors. Through its "Creators Lab" platform, the Austrian crystal house partnered with seven diverse brands, including Oakley and Off-White, to launch limited-edition crystallized products ranging from eyewear to apparel. Additionally, the company teamed up with the Los Angeles-based retailer Erewhon to release a crystal-embellished tote bag and a signature beverage. These initiatives were designed to integrate the brand's heritage of craftsmanship with contemporary culture, driving engagement across new consumer segments in the global market.
• In February 2025, Pandora reported robust financial results for the full fiscal year of 2024, highlighting the successful execution of its "Phoenix" growth strategy. The world's largest mass-market jewelry brand achieved an organic revenue growth of 13%, with total sales reaching DKK 31.7 billion. The Chief Executive Officer attributed this performance to increased brand desirability and the successful expansion into categories such as lab-grown diamonds. Despite economic headwinds, the company secured significant market share gains in the United States and Europe, projecting continued profitable growth and network expansion for the year ahead.
• In June 2024, LVMH expanded its hard luxury capabilities by acquiring Swiza, the parent company of L’Epée 1839, a prestigious Swiss manufacturer of high-end mechanical clocks. This strategic move aimed to preserve and leverage historic horological expertise within the conglomerate's Watches and Jewelry Division. The acquisition granted the group access to unique manufacturing facilities specializing in kinetic sculptures and intricate clock mechanisms. By integrating this specialized savoir-faire, the company sought to enhance its offering of collectible objets d'art, complementing the portfolios of its existing jewelry and watchmaking maisons.
• In April 2024, Tiffany & Co. unveiled its "Blue Book 2024: Tiffany Céleste" high jewelry collection at an exclusive event in Beverly Hills. Designed by the brand's Chief Artistic Officer of Jewelry and High Jewelry, the collection paid tribute to the company’s archival legacy by reinterpreting cosmic motifs such as the sun, moon, and stars. The launch featured exceptional diamonds and colored gemstones set in innovative designs, underscoring the jeweler's commitment to high craftsmanship. This collection marked a pivotal moment in the brand's strategy to elevate its standing in the ultra-luxury market through storytelling and artistic excellence.

Key Market Players

• Tiffany and Company
• Pandora Jewelry, LLC
• Chow Tai Fook Jewellery Group Limited
• LVMH Moët Hennessy-Louis Vuitton SE
• Compagnie Financiere Richemont SA
• Graff Diamonds Limited
• Signet Jewelers
• HStern (Jewellery) Limited
• Malabar Gold & Diamonds
• SWAROVSKI AG

By Type	By Material Type	By Distribution Channel	By Region
Necklace Ring Earrings Bracelet Others	Silver Gold Platinum Diamond Others	Online and Offline	North America Europe Asia Pacific South America Middle East & Africa

Report Scope:

In this report, the Global Jewelry Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

• Jewelry Market, By Type:

• Necklace
• Ring
• Earrings
• Bracelet
• Others

• Jewelry Market, By Material Type:

• Silver
• Gold
• Platinum
• Diamond
• Others

• Jewelry Market, By Distribution Channel:

• Online and Offline

• Jewelry Market, By Region:

• North America
• United States
• Canada
• Mexico
• Europe
• France
• United Kingdom
• Italy
• Germany
• Spain
• Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• South America
• Brazil
• Argentina
• Colombia
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE