Jewelry Market Size to Reach USD 373.39 Bn by 2030 at 5.28% CAGR

Jewelry Market Trends, Growth, and Key Developments

The global Jewelry Market was valued at USD 260.46 Bn in 2023 and is expected to grow at a CAGR of 5.28% from 2024 to 2030, reaching USD 373.39 Bn by 2030. The market growth is fueled by increasing consumer spending on luxury goods, rising disposable incomes, and a shift toward online shopping platforms.

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Jewelry Market Opportunities in Vietnam

Vietnam's jewelry market is seeing rapid growth, with a surge in demand for high-end and custom-made jewelry. Vietnam Jewelers Group has recently expanded its operations in Hanoi, offering unique designs targeted at both local and international buyers. The rise in Vietnam's middle class and disposable income is a key factor contributing to the market's growth.

Jewelry Market Growth in Thailand

Thailand is a major hub for the jewelry industry in Southeast Asia, with significant exports of gold and silver jewelry. In 2024, Thai Goldsmith Association reported a significant rise in demand for gold jewelry, particularly for weddings and special occasions. Siam Jewelry Ltd. has increased production capacity to cater to growing regional demand.

Jewelry Market Trends in Japan

Japan is known for its rich tradition in jewelry craftsmanship, and in recent years, the market has seen a shift toward contemporary and designer pieces. Tokyo Jewelry Co. has partnered with leading designers to introduce limited edition collections that blend traditional craftsmanship with modern design. The shift towards online platforms for jewelry sales has also seen an increase in the country.

Jewelry Market Consolidation in South Korea

South Korea has seen consolidation in the jewelry market, with Seoul Jewelers acquiring Korea Gold Co., creating a larger network and expanding their presence in both local and international markets. This move has helped improve supply chain efficiency and enhanced the reach of luxury jewelry brands.

Jewelry Market Updation in Singapore

In Singapore, jewelry brands are increasingly adopting smart jewelry technology. Smart Jewelry Singapore recently launched a line of wearables that incorporate both aesthetics and functionality. These products cater to the growing demand for tech-integrated fashion.

Jewelry Market Growth in the US

The United States continues to lead the global jewelry market, driven by the growing popularity of luxury and custom-made jewelry. Tiffany & Co. has expanded its reach with new flagship stores in key cities and is focusing on creating exclusive, limited-edition pieces for affluent consumers. Online sales are also contributing to the market's rapid growth in the region.

Jewelry Market Growth in China

China's jewelry market is booming, driven by increasing disposable income and a growing middle class. Shanghai Jewelers Ltd. has launched a new collection of Chinese-inspired luxury jewelry, targeting both domestic and international markets. The country remains a key player in the production and consumption of gold jewelry.

Jewelry Market Trends in Austria

Austria’s jewelry market is seeing a rise in demand for vintage and antique jewelry. Austrian Jewelry Collective has started to reintroduce classic jewelry designs from past decades, catering to consumers looking for unique, one-of-a-kind pieces.

Jewelry Market Consolidation in Belgium

Belgium's jewelry sector has experienced consolidation with the merger of Belgium Goldsmiths and European Jewelry Makers. This union has enabled them to improve production capacity and expand their market presence across Europe and Asia.

Jewelry Market Updation in Germany

Germany's jewelry market is experiencing an update with the integration of sustainable practices. German Jewelers Group recently announced that it will use 100% recycled gold in its production by 2025, in response to consumer demand for eco-friendly luxury products.

Jewelry Market Growth in France

The French jewelry market continues to grow, driven by demand for both high-end luxury pieces and more affordable designs. Paris Jewelry Co. has introduced a new collection of minimalist designs, attracting younger buyers seeking elegant yet understated pieces.

Jewelry Market Trends in Italy

Italy’s jewelry market is known for its focus on craftsmanship and design. Italian Jewelry Designs recently unveiled a collection inspired by Italy's rich cultural heritage, featuring intricate detailing and precious stones. The global appeal of Italian jewelry remains strong, especially in luxury markets.

Jewelry Market Consolidation in Spain

In Spain, the jewelry industry has seen consolidation with the merger of Barcelona Jewelers and Madrid Goldsmiths. This consolidation allows for a broader product offering and a more streamlined distribution network across Spain and Latin America.

Jewelry Market Growth in the UK

The UK’s jewelry market is experiencing significant growth, with a shift toward personalized and bespoke jewelry pieces. London Jewelry Makers has introduced a new custom design service that allows customers to create their own unique pieces, reflecting the growing trend for individualization in luxury goods.

Jewelry Market Growth in Canada

Canada’s jewelry market is expanding, with an increasing demand for ethically sourced diamonds and precious stones. Canadian Diamond Co. has capitalized on this trend by offering a collection of sustainably sourced engagement rings, catering to eco-conscious consumers.

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Unveiling the Future of Jewelry Market Segmentation :

by Product Type

Rings

Necklaces and Pendants

Earrings

Bracelets and Bangles

Watches

Brooches and Pins

by Material

Gold

Diamond

Platinum

Stainless steel

Other

by End-user

Men

Women

Children

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Leading the Way in Jewelry Industry: 

1. Tiffany & Co. 2. Pandora 3. Chow Tai Fook 4. Louis Vuitton SE 5. Richemont 6. GRAFF 7. Signet Jewelers Limited 8. H. Stern 9. Malabar Gold & Diamonds 10. Buccellati 11. Cartier 12. LVMH Group 13. SHR Jewelry Group 14. Swarovski 15. Tata Sons Private Ltd 16. The Swatch Group AG 17. Rajesh Exports Ltd. 18. Chopard 19. Hary Winston, Inc.

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