According to recent research conducted by the Custom Market Insight Market Research Team, the global jewelry market is poised to experience steady growth over the forecast period. The market is projected to grow at a compound annual growth rate (CAGR) of 4.6% from 2023 to 2030. In 2023, the jewelry market size is estimated to reach a valuation of approximately USD 356.36 billion, with expectations to rise further and hit around USD 488.21 billion by the year 2030.
The increasing consumer inclination towards fashionable and unique jewelry pieces that suit various personal and ceremonial occasions—such as weddings, anniversaries, birthdays, and other celebrations—is a major factor driving the market's expansion. Consumers are looking for more than just accessories; they seek personal expression, status symbols, and sentimental value in the jewelry they purchase.
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Jewelry Market Size, Trends and Insights By Product Type (Necklace, Ring, Earring, Bracelet, Others), Material (Platinum, Gold, Diamond, Others), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2022–2030:
https://www.custommarketinsights.com/report/jewelry-market/
Key Takeaways:
Mergers and Acquisitions
The global jewelry industry has witnessed a surge in mergers and acquisitions over the past few years, largely driven by efforts to consolidate market share, access new distribution channels and technologies, and improve operational efficiency. These strategic moves are reshaping the competitive landscape.
One of the most notable deals in recent history was the acquisition of Tiffany Co. by LVMH (Moët Hennessy Louis Vuitton), the world’s largest luxury goods conglomerate. Completed in 2021, this landmark transaction was valued at over USD 15 billion and marked LVMH's substantial expansion into the high-end jewelry segment.
Another significant transaction was Richemont’s consolidation of its e-commerce presence through the merger of YOOX Net-a-Porter with online luxury watch and jewelry retailer Watchfinder. This move, valued at USD 254 million, expanded Richemont’s footprint in the growing digital luxury market.
Other prominent examples include Signet Jewelers’ acquisition of Zale Corporation, and Chow Tai Fook’s acquisition of Hearts On Fire—deals that have helped these companies solidify their market positions.
These strategic consolidations are expected to continue shaping the global jewelry landscape as companies compete to enhance their market share, strengthen brand portfolios, and access emerging customer segments.
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Jewelry Market Prospects
The global jewelry market is poised to benefit from several promising developments that are expected to significantly influence growth over the coming years:
1. Rising Demand for Sustainable and Ethical Jewelry
Consumers, particularly in developed economies, are increasingly aware of the environmental and ethical implications of their purchases. As a result, there is growing demand for sustainably sourced gemstones, recycled metals, and ethically produced collections. Brands that can transparently demonstrate their commitment to sustainability and fair labor practices are likely to attract a larger consumer base.
2. Expansion of Online Jewelry Sales
E-commerce continues to revolutionize the retail landscape, and jewelry is no exception. Online sales are gaining momentum due to the convenience, accessibility, and broad product selection offered by digital platforms. Features such as virtual try-ons, AR visualization, and personalized recommendations are enhancing the online shopping experience and accelerating growth.
3. Increasing Popularity of Customized Jewelry
Today’s consumers seek individuality and are drawn to customizable options that reflect their personal style, beliefs, or stories. Jewelry brands offering customization services—such as engraving, birthstone selections, and design-your-own options—are seeing strong engagement, especially among millennials and Gen Z.
4. Expanding Demand in Emerging Markets
With rising disposable incomes and increasing appetite for luxury goods, markets such as China, India, Brazil, and Southeast Asia present lucrative opportunities for jewelry brands. These regions have a deep-rooted cultural affinity for jewelry, particularly gold, which enhances their potential as high-growth markets.
5. Technological Innovations
The integration of advanced technologies, including 3D printing, AI-driven design tools, and blockchain for supply chain transparency, is transforming how jewelry is produced and sold. These innovations allow for faster prototyping, greater precision, and enhanced customization—all of which contribute to increased operational efficiency and customer satisfaction.
Together, these evolving trends and advancements present a positive outlook for the jewelry industry in both mature and developing markets.
Key Players in the Global Jewelry Market
Several renowned brands and companies are active in the global jewelry space. These players continue to shape the industry through their focus on quality, innovation, and brand equity. Key market participants include:
Buccellati
Cartier
Chow Tai Fook Jewelry Company Limited
LVMH Group
Malabar Gold Diamonds
PANDORA Jewelry LLC
SHR Jewelry Group
Tata Sons Private Ltd
The Swatch Group AG
Tiffany Co
Pandora
Louis Vuitton SE
Richemont
GRAFF
Signet Jewelers Limited
Stern
Swarovski AG
These companies maintain strong positions through broad product portfolios, premium branding, global distribution networks, and strategic expansion into online and emerging markets.
