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

Forecast Period	2027-2031
Market Size (2025)	USD 62.26 Billion
CAGR (2026-2031)	8.38%
Fastest Growing Segment	Online
Largest Market	Asia Pacific
Market Size (2031)	USD 100.90 Billion

Market Overview

The Global Luxury Jewelry Market will grow from USD 62.26 Billion in 2025 to USD 100.90 Billion by 2031 at a 8.38% CAGR. Luxury jewelry comprises high value personal ornaments crafted from precious metals and rare gemstones that are distinguished by superior artisanship, exclusivity, and brand heritage. The primary drivers supporting market growth include the rising purchasing power of affluent consumers and the enduring cultural perception of these items as secure investment assets. Additionally, the bridal and gifting sectors provide consistent demand foundations that remain robust relative to broader economic cycles. According to the World Gold Council, in 2024, global spending on gold jewelry increased by 9% to reach US$144 billion.

However, one significant challenge that could impede market expansion is the volatility of raw material prices for commodities such as gold and diamonds. Escalating input costs force manufacturers to increase retail prices which can stifle consumption volumes and alienate price sensitive buyers who might otherwise enter the luxury category.

Key Market Drivers

The structural transition from unbranded to branded luxury jewelry serves as a primary catalyst for industry evolution as consumers increasingly favor established Maisons that offer guaranteed authenticity, superior design, and resale value. This shift is particularly evident among high net worth individuals who view heritage brands as a mark of distinction and stability compared to generic retailers. Consequently, major conglomerates are consolidating market share through aggressive expansion and marketing strategies. According to Richemont, May 2024, in the 'Annual Report and Accounts 2024', sales for their Jewellery Maisons reached €14.24 billion, underscoring the dominant performance of branded heritage lines.

Simultaneously, rapid market penetration in Asia Pacific and emerging economies is reshaping the global demand landscape. As urbanization accelerates and disposable incomes rise in regions such as China and India, there is a marked escalation in consumption of high value adornments for both cultural milestones and personal gratification. Retailers are responding by expanding their footprints in these high growth territories to capture the burgeoning affluent class. According to Chow Tai Fook, June 2024, in the 'Annual Report 2023/2024', revenue grew by 14.8% to HK$108,713 million driven by steady retail demand in Mainland China. Furthermore, the broader appetite for exclusive goods remains resilient. According to Hermès, in 2024, the Other Hermès business line, which encompasses jewelry, achieved a 17% increase in revenue at constant exchange rates during the first nine months.

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Key Market Challenges

The volatility of raw material prices represents a substantial barrier to the sustainable expansion of the global luxury jewelry market. When the costs of essential commodities such as gold and diamonds fluctuate upward, manufacturers face increased production expenses that are inevitably passed on to the consumer. This escalation in retail pricing limits market accessibility, effectively pricing out aspirational buyers who are sensitive to valuation shifts. Consequently, the market experiences a reduction in consumption volumes as potential customers defer purchases or seek alternative goods, undermining the potential for broader customer base acquisition.

This inverse relationship between raw material costs and consumption volume is evident in recent industry performance metrics. According to the World Gold Council, in the third quarter of 2024, global gold jewelry demand declined by 12% year-on-year to 459 tons as consumers reacted to record high price levels. This contraction in sales volume demonstrates how raw material instability hampers physical market growth, as the burden of higher input costs directly stifles demand and disrupts the consistency required for long-term sector development.

Key Market Trends

The Expansion of the Secondary Market for Pre-Owned and Vintage Luxury Jewelry is fundamentally altering industry dynamics as consumers increasingly prioritize circularity and value retention. This trend is characterized by a surge in demand for investment-grade heritage pieces, driven by sustainability motivations and the financial appeal of proven assets during economic uncertainty. Specialized digital consignment platforms are professionalizing this sector, offering rigorous authentication services that mitigate the risks traditionally associated with the secondhand trade. According to The RealReal, August 2024, in the '2024 Luxury Resale Report', sales for fine jewelry priced at $5,000 and above increased by 22% year-over-year, highlighting the robust shift toward high-value pre-owned luxury goods.

Simultaneously, the Shift Toward Recycled Precious Metals and Ethically Sourced Gemstones represents a critical operational pivot for manufacturers addressing heightened environmental scrutiny. Brands are rapidly restructuring supply chains to ensure full traceability and minimize carbon footprints, moving away from newly mined materials associated with ecological degradation. This transition caters to a discerning demographic that views environmental stewardship as a prerequisite for luxury consumption. According to Pandora Group, September 2024, in the press release 'Pandora says it is now using only 100% recycled silver and gold', the company achieved its target of sourcing entirely recycled silver and gold for all jewelry crafting, a strategy that avoids approximately 58,000 tons of CO2 emissions annually.

Segmental Insights

The online distribution channel is currently characterized as the fastest-growing segment in the Global Luxury Jewelry Market. This expansion is primarily driven by increasing consumer confidence in high-value digital transactions and the strategic adoption of immersive technologies by established retailers. Enhanced website interfaces and augmented reality tools allow clients to visualize products remotely, effectively mitigating the need for physical inspections. Consequently, luxury brands are prioritizing e-commerce infrastructure to accommodate a demographic that values global accessibility and purchasing convenience over traditional brick-and-mortar limitations.

Regional Insights

Asia Pacific commands the leading share of the global luxury jewelry market, driven primarily by rising disposable incomes and a strong cultural affinity for precious metals in major economies like China and India. The region benefits from rapid urbanization and a growing demographic of high-net-worth individuals who regard jewelry as a secure investment and essential social asset. Furthermore, robust trade support from organizations such as the Gems and Jewellery Export Promotion Council facilitates market expansion, encouraging international brands to establish a significant retail presence across these high-demand territories.

Recent Developments

• In September 2024, Boucheron unveiled an innovation capsule collection featuring a new "5D Memory" technology to mark its retail expansion in the United States. The centerpiece of this launch was a concept ring designed to encapsulate the sound of water using advanced acoustic processing and materials, representing a breakthrough in merging sensory experience with fine craftsmanship. Presented alongside the "Or Bleu" high jewelry collection at a new flagship opening in New York, this development highlights the Maison's focus on technological integration and creative experimentation to strengthen its presence in the North American market.
• In June 2024, Chanel presented its "Haute Joaillerie Sport" collection in Monaco, a high jewelry line celebrating the athletic style cherished by the company's founder. The 80-piece assortment merges elegance with performance-inspired aesthetics, utilizing technical materials like lightweight carbon fiber and tube chains alongside precious gemstones such as Kashmir sapphires. Design motifs include chevrons, graphic lines, and the brand's signature lion symbol, emphasizing freedom of movement and functionality. This launch demonstrates the company's innovative approach to high jewelry, successfully combining sporting codes with traditional savoir-faire to engage a dynamic, modern clientele.
• In May 2024, Tiffany & Co. unveiled a new jewelry collection titled "Tiffany Titan," designed in collaboration with a renowned musician and the Creative Director of Louis Vuitton Men's. Inspired by the mythological trident of Poseidon, the collection features sharp, spear-like motifs that symbolize energy and power, contrasting with the brand's traditional soft elegance. The range includes necklaces, earrings, bracelets, and rings crafted in 18k yellow gold and titanium, with some pieces incorporating reverse-set diamonds to maximize brilliance. This launch highlights the company's strategy to blend inventive craftsmanship with a distinct, punk-infused aesthetic to appeal to modern luxury consumers.
• In May 2024, Cartier launched its latest high jewelry collection, "Nature Sauvage," during an exclusive presentation held in Vienna. The collection offers a contemporary interpretation of the Maison’s celebrated bestiary, comprising 87 intricate pieces that depict animals such as turtles, zebras, and crocodiles in unexpected, abstract environments. A standout creation, the "Panthère Jaillissante," features a hybrid ring-bracelet design set with a significant Zambian emerald. This release underscores the brand's commitment to exceptional gemstone sourcing and its ability to reinvent iconic motifs through narrative-driven designs, reinforcing its position in the global luxury jewelry market.

Key Market Players

• Guccio Gucci S.p.A.
• The Swatch Group Ltd
• Compagnie Financière Richemont SA
• Tiffany & Co.
• Signet Jewelers
• Graff Diamonds Limited
• Louis Vuitton Malletier SAS
• Le petit-fils de L.U. Chopard & Cie SA
• Pandora Jewelry LLC
• MIKIMOTO Co., Ltd.

By Raw Material	By Product	By Distribution Channel	By Region
Diamond Gold Platinum Others	Necklace Ring Earring Others	Offline Online	North America Europe Asia Pacific South America Middle East & Africa

Report Scope:

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

• Luxury Jewelry Market, By Raw Material:

• Diamond
• Gold
• Platinum
• Others

• Luxury Jewelry Market, By Product:

• Necklace
• Ring
• Earring
• Others

• Luxury Jewelry Market, By Distribution Channel:

• Offline
• Online

• Luxury 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