Global Luxury Jewelry Market: Overview
to BlueWeave Consulting, The demand of Luxury jewelry in the market was valued USD
43.21 billion by 2025, anticipated to grow at CAGR over 6% during 2019-2025. Luxury jewelry is well-known for its profound designs and the usage of the finest and expensive raw materials. The market of luxury jewelry is dynamic and fast-growing which are highly fragmented and mostly driven by consumer behavior as well as fashion trends. The significant growth can be projected in the coming years, owing to increasing disposable income and consumer spending on luxury goods.
Moreover, the key factors such as affinity towards the latest designs, high quality, and ethical jewelry products increased the demand among high-class consumers. Moreover, the rising trend of focusing on aesthetic appeal, influence from social media as well as rapid adoption of online internet surfing to fetch new artistic designs of new luxury jewelry are led the consumer to own the jewelry. Thus, eventually increasing the number of sales in the overall market.
The integration of the luxury jewelry industry with the fashion and glamour industry has helped create new opportunities for it, as luxury jewelry is marketed by top models of the fashion industry which influence the consumer to spend more on it. The avenues growth of luxury jewelry industry has also been broadened with the increasing use of jewels in other luxury products such as watches, bags, and apparels. Thus, the rising indirect market for luxury jewelry is further expected to boost the luxury jewelry market over the forecast period.
Fine Jewelry- Sparkles the jewelry market
On the basis of the type, the jewelry market is divided as Fine and Custom jewelry. The fine jewelry segment is expected to be the fastest growth being fueled by the shift to e-commerce. With the increase in demand, the Jewelry sellers are capitalizing on the opportunity in this market by coming up with innovative ways, from personalization to home trial options, keeping in mind consumers concerns. Moreover, Integration of new technologies such as Computer Aided System (CAD) in the manufacturing of jewelry process is expected to boost the growth of the overall market. CAD technology makes complex designs possible and allows manufacturers to create new jewelry designs which lead to the launch creative products.
Earring – The growing segment among all luxury Jewelries
On the basis of the Product type, the jewelry market is divided as Necklace, Ring, Bracelet, Hair Ornaments, Earring, Leg & Feet Ornaments, and Others. Earrings segment is expected to be the fastest growing segment in the overall luxury jewelry market during the forecast period. Differently patterned earrings are a fast and easy way for women to quickly dress up and match the outfit style, creates a huge demand for different sized earning among females. Moreover, the rising trend of ear piercing and multiple ear piercing is also driving the growth of this segment, globally over the forecast period.
Gold Luxury Jewelries – Generates Largest revenue
On the basis of the Material used, the luxury jewelry market is divided as Gold, Silver, Diamond, Platinum, Gems & Others. The gold segment is expected to have the lion share in the overall market and the Diamond segment is expected to be the fastest growing segment. In developing countries like India Jewelry, it serves as a mode of investment, particularly gold jewelry. It also serves in devotional purpose and is used to reflect different cultures. On the other hand, the art of luxury is very much alive and with the democratization of luxury in past years, the future of luxury jewelry market is expected to reach greater heights on par with countries like China & European countries.
Female segment – Generates the Largest revenue
On the basis of the End-User, the luxury jewelry market is divided as a male and female end user. Increasing demand for men’s jewelry creates a potential opportunity for the overall growth of the luxury jewelry market over the forecast period. Conventionally, women have more interest than men towards purchasing luxury jewelry.
However, this trend is changing, owing to the rise in demand for men on self-grooming and on aesthetic appeal. Moreover, the increasing influence of social media has also led to high adoption of latest fashion trends among men’s. Such key factors are contributing to the increase in demand for male luxury jewelry products such as bracelets, rings, necklaces, and others. Therefore, manufacturers are focusing on such products to gain an edge in the global luxury market.
Global luxury jewelry Market: Competitive Landscape
Companies, such as David Yurman, Tiffany & Co., Yakult Honsha Co Ltd; Van Cleef & Arpels, Harry Winston, LVMH, and Buccellati are the major players in the global luxury jewelry market, providing various products of luxury jewelry. In April 2017, the Franco-Swiss group FM Industries Sycrilor, manufacturer of luxury jewelry for companies such as Louis Vuitton, Cartier, and Mont-Blanc, started one of its technological and production centers in the Portuguese city, Covilha. The center was established to cater to the increasing demand for the high quality precision specialization of jewelry metals.
Objective of the Study:
To analyze and forecast
market size of the global luxury jewelry market, in terms of Value
To examine the careful
market segmentation and forecast the market size, on the basis of region,
segmented into 5 regions, namely, North America, Europe, Asia Pacific, MEA,
& LATAM and major countries in the respective regions
To outline, categorized and
forecast the global luxury jewelry market on the basis of product type,
material used, end-user and distribution channel.
To examine competitive
developments like expansions, technological advancement, new product launches,
services, and regulative framework within the global mouthwash market.
To identify the drivers and
challenges for the global luxury jewelry market.
To spot the profile of
leading players and an array of strategic outlook and SWOT analysis of major
Scope of the Report
By Product Type
Leg & Feet Ornaments
By End- user
By Distribution Channel
In addition, the report provides analysis of the luxury Jewelry market with respect to the following geographic segments:
Asia Pacific (APAC)
Middle East Africa
Customization Scope for the Client
Client satisfaction is our first and last priority. And that’s why BlueWeave Consulting offers customization according to Company’s specific needs. The following customization options are available for the report:
Additional Company Information
With three additional company detail analysis.
Additional country analysis.
Detailed segment analysis.