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The Latin America jewellery market size was around USD 8.58 million in 2023. The market is estimated to grow at a CAGR of 6.4% during 2024-2032 to reach a value of USD 14.96 million by 2032.
The rich jewellery craftsmanship in the region provides customers with pieces that cater to their preferences. Additionally, jewellery made of gold, jade, shells, and feathers holds cultural significance in the region.
In order to distinguish themselves from their competitors and attract environmentally conscious consumers, manufacturers are attempting to embrace sustainable production practices. They are also using upcycled gold and ethically sourced gemstones to enhance the sustainability of jewellery production.
Technological advancements; presence of abundant reserves of metals; growing sustainability concerns; and growing demand for personalised jewellery pieces are impacting the Latin America jewellery market growth
Date | Company | Event |
May 2023 | UNOde50 | Spanish jewellery brand UNOde50 expanded its presence in Mexico by announcing its entry into Guadalajara through two new retail locations. |
Apr 2023 | Swarovski | Swarovski opened a new store within the metropolitan region's Costanera Center Mall, Chile. |
Apr 2023 | HStern | HStern introduced its latest jewellery collection, METAMORPHOSIS, which showcased pieces imbued with the vibrant essence of colours. |
Nov 2022 | LVMH Group | In a significant development for its Watches & Jewelry Division, the LVMH Group successfully completed the acquisition of the Pedemonte Group, a renowned jewellery producer operating in Italy and France. |
Trends | Impact |
Adoption of technologies | By embracing technologies, such as augmented reality (AR) and 3D printing, manufacturers can enhance the customer experience and gain a competitive edge. |
Availability of natural reserves of precious metals and stones | Latin America's bountiful reserves of emeralds, semi-precious gemstones like Amethyst and Amazonite, as well as gold and silver, contribute to its competitive advantage in jewellery production. |
Rising sustainability concerns | As consumers become more aware of the social and environmental effects of their purchases, the trend of sustainable jewellery is expected to strengthen in LATAM. Manufacturers following sustainable practices, such as employing upcycled gold and diamonds from ethical sources, can stand out amidst the competitive environment. |
Rising demand for custom jewellery | There is a growing trend of personalised jewellery among the population, pushing manufacturers to provide jewellery that meets the customers requirements. |
The popularity of online shopping in Latin America is rising, owing to a surge in usage of smartphones, increased internet penetration, and growth in personal income. The expanding e-commerce and online shopping sector helps jewellery manufacturers reach a wider audience beyond their geographical boundaries.
Consumers are increasingly seeking unique and personalised jewellery options that meet their individual needs and taste. The customised jewellery trend is further receiving a boost as consumers get influenced by celebrities wearing jewellery with engraved names and charms. By offering an option to customise jewellery, small businesses can increase their market share.
Consumers across Latin American countries, such as Brazil, are increasingly becoming conscious of the environmental and social impact of their jewellery. As a result, jewellery companies that adopt sustainable practices, such as using upcycled gold and ethically sourced gemstones, can differentiate themselves and attract eco-conscious consumers.
“Latin America Jewellery Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:
Market Breakup | Categories |
Product | Necklace, Earrings, Ring, Charms and Bracelets, Others |
Material Type | Gold, Diamond, Platinum, Silver, Others |
Category | Unbranded, Branded |
Type | Real/Fine, Costume |
End Use | Women, Men |
Distribution Channel | Offline, Online |
Country | Brazil, Argentina, Mexico, Chile, Others |
Based on material type, gold dominates the Latin America jewellery market share, supported by its durability and high market value
Gold is widely used in making jewellery and is often considered an investment due to its durability and high market value. It can also be handed down to the next generation without facing depreciation.
Gold is resistant to corrosion, rust, and tarnish, which makes it a highly reliable material for making jewellery.
Sterling silver or 925 silver is commonly used for making silver jewellery. It has 92.5 percent pure silver content, and the remaining 7.5 percent is usually copper, though other metals like nickel can also be used. The addition of copper to silver makes it harder and hence easier to work with, without compromising on its brightness.
Based on product, necklace/neck pieces account for a significant share of the Latin America jewellery market
The jewellery market has embraced 3D printing, with which jewellery production has become much more affordable. This technology enables jewellers to produce custom pieces with ease and allows for intricate and detailed designs beyond traditional methods.
CAD/CAM systems enable jewellers to create unique designs and efficiently mass-produce jewellery that would otherwise be more time-consuming. The technology helps boost productivity and meet the demand for customised pieces, revolutionising the process of jewellery making and making it more efficient.
To establish a unique position in the market, players employ strategies focused on brand awareness, marketing, and distribution
Company | Founded | Headquarters | Services |
Vivara Participações S.A | 1962 | São Paulo, Brazil | The company specialises in gold jewellery, silver jewellery, watches, and accessories. |
Kering | 1963 | Paris, France | Kering provides jewellery through its brands, including Boucheron, Pomellato, DoDo, and Qeelin. |
LVMH Moët Hennessy (Louis Vuitton) | 1987 | Paris, France | The watches and jewellery house of LVMH comprises brands like Bulgari, Tiffany and Co., Chaumet, Fred, and Repossi. |
Compagnie Financière Richemont SA | 1988 | Geneva, Switzerland | The company’s jewellery Maisons are Buccellati, Cartier, and Van Cleef & Arpels. Buccellati offers rings, bracelets, earrings, pendants, and necklaces made of diamonds, silver, and precious stones. |
Other notable players operating in the Latin America jewellery market include Pandora A/S, Morana, HStern Indústria e Comércio SA, Swarovski Group, and Pepe Dominguez Silver Jewelry, among others.
Brazil is the largest diamond producer in Latin America, with the Braúna mine being the country’s biggest diamond mine. It is also a significant market for fine jewellery with a significant population having more income levels than other Latin American countries. Brazilian jewellery designers combine coloured stones, especially pastel gemstones such as blue topaz, to create attractive pieces of jewellery. Fashionable jewellery, such as dangling earrings, and jewellery that blends with nature are also very popular among Brazilian women.
Argentina is home to several fashion silver jewellery stores, offering diverse designs of necklaces, bangles, bracelets, and earrings. Additionally, Argentina is known for its finest silver globally, hence manufacturers procure high-quality silver from the country to manufacture 925 sterling silver, which is further used in jewellery and decorative items.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Material Type |
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Breakup by Category |
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Breakup by Type |
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Breakup by End Use |
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Breakup by Distribution Channel |
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Breakup by Region |
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Companies Covered |
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Latin America Jewellery Market Size
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
Get in touch with us today for customized, data-driven solutions tailored to your unique requirements!
The market attained a value of USD 8.58 million in 2023.
The market is estimated to grow at a CAGR of 6.4% during 2024-2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a value of USD 14.96 million by 2032.
The key drivers of the market are increasing disposable incomes, growing technological advancements, and rising demand for personalised jewellery.
The major regional markets are Brazil, Argentina, Mexico, and Chile, among others.
The material types include gold, diamond, platinum, and silver, among others.
The various products include necklace, earrings, rings, and charms and bracelets, among others.
The key players in the market include Vivara Participações S.A, Kering, LVMH Moet Hennessy (Louis Vuitton), Compagnie Financière Richemont SA, Pandora A/S, Morana, HStern Indústria e Comércio SA, Swarovski Group, and Pepe Dominguez Silver Jewelry, among others.
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