Global Jewellery Market to Grow at a CAGR of 4.70% During 2024-2032, Aided by Increasing Popularity of Jewellery among both Female and Male Consumers

The growing disposable incomes of individuals have led to increasing demand for jewellery, influencing the market expansion. As economic conditions continue to strengthen, consumers have more financial flexibility to invest in luxury items like jewellery. Additionally, customers are willing to spend on high-end jewellery pieces that signify status, refinement, and exclusivity, serving to further accelerate the market growth.

The rising middle class in developing nations has emerged as a particularly influential driver of the jewellery market expansion. As disposable incomes and standards of living rise across Asia, Latin America, and parts of Africa, demand for luxury goods has increased proportionately. Consumers also now expect a higher degree of personalisation and uniqueness when making jewellery purchases. The desire for pieces that serve as an authentic reflection of individual style and personality has risen markedly.

Computer-aided design/computer-aided manufacturing (CAD/CAM) technology has revolutionised the design and production processes within the market for jewellery. By utilising CAD/CAM software and equipment, jewellery makers can now create intricate and complex designs with precision and accuracy not previously possible. CAD programs allow designers to visualise their ideas in virtual 3D space, allowing for swift modification and refinement of designs prior to production. This significantly reduces the time required to bring new designs to market while also enhancing creativity.

In January 2024, Zales, The Diamond Store, a brand of Signet Jewelers Ltd. (NYSE: SIG), announced its Designer Edit collection celebrating emerging jewellery designers. The first of multiple collaborations features lines from SOKO, Shahla Karimi, and Alessi Domenico. The Designer Edit showcases brands redefining the industry while celebrating diversity and innovative designs complementing Zales' existing products and attracting fashion-focused consumers.

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Market Breakup by Product, Material Type, Category, End User, Distribution Channel, and Region:

• On the basis of the product, the market is divided into necklace, ring, earrings, and charms and bracelets, among others.

• The market can be segmented based on material type into silver, gold, platinum, and diamond, among others.

• On the basis of the category, the market is bifurcated into branded and unbranded.

• The market can be segmented based on end user into men and women.

• On the basis of the distribution channel, the market is bifurcated into online and offline.

• By region, the market can be classified into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• Three-dimensional (3D) printing is an emerging technology gaining widespread use within the market. 3D printing enables rapid prototyping, allowing designers to produce physical representations of their CAD files for testing, fitting, and client approval far more rapidly than conventional production methods. 3D printing also facilitates the cost-effective manufacturing of complex jewellery pieces with intricate details, filigree work, or customisations not possible through other processes. This expanding application of 3D printing directly influences the overall jewellery market growth.

• The increasing use of laser technology in jewellery manufacturing is driving the market growth. Lasers allow for rapid, precise cutting and engraving, enabling jewellers to create intricate patterns, add personalisation, and achieve unique textures on materials like metals, gemstones, and acrylic. 

• Additionally, the integration of augmented reality and virtual reality enhances the customer shopping experience. Technologies like AR and VR offer virtual try-ons of jewellery, allowing customers to visualise how pieces look and fit without physically trying them on. This provides convenience and helps the decision-making process for potential buyers. Together, these advances in manufacturing and shopping technologies are contributing to positive market prospects.

Key Offerings of the Report:

• The EMR report gives an overview of the global jewellery market for the periods (2018-2023) and (2024-2032).

• The report also offers historical (2018-2023) and forecast (2024-2032) market information for the products, material types, categories, end users, distribution channels, and regions of jewellery.

• The market report also analyses the trade data by covering the major importing and exporting countries.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, trade data analysis, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global jewellery market are Compagnie Financière Richemont SA (Buccellati), Signet Jewelers Ltd., Chow Tai Fook Jewellery Group Limited, Graff Diamonds Limited, Harry Winston, Inc., H.Stern (Jewellery) Limited, LVMH Moët Hennessy - Louis Vuitton, Pandora A/S, Swarovski AG, and Tanishq Corporation, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

Key Highlights of the Report

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