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India Gems And Jewelry Market

India Gems And Jewelry Market

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India Gems and Jewelry Market, By Product Type (Gold, Diamond, Silver, Gemstones, Others (Pearl, Platinum, etc.)), By Distribution Channel (Offline, Online), By Region (North India, South India, East India, West India), Trend Analysis, Competitive Market Share & Forecast, 2018-2028

  • Published Date: July 2022
  • Report ID: BWC22243
  • Available Format: PDF
  • Page: 113

Report Overview

The India gems and jewelry market is flourishing at a high rate owing to the association of precious metals with religion and culture in India along with rapid exposure to international media and the emergence of new manufacturing technologies for different designs...

India Gems and Jewelry Market- Industry Trends & Forecast Report 2028

The India gems and jewelry market is anticipated to grow at the CAGR of 8.40% in the forecast period. The growth of the market is attributed to the association of precious metals with religion and culture in India and the tradition of wearing jewelry of gold and silver on different occasions. Furthermore, rapid exposure to international media and the emergence of new manufacturing technologies for different designs is also presenting lucrative growth opportunities for the market.

Gems and Jewelry - Overview

A gemstone (also known as a fine gem, jewel, precious stone, or semiprecious stone) is a cut and polished piece of mineral crystal that is used to manufacture jewelry or other adornments. Brooches, rings, necklaces, earrings, pendants, bracelets, and cufflinks are examples of jewelry or jewelry worn for personal ornamentation. Jewelry can be worn on the body or on clothing. Jewelry has traditionally been made of metals such as gold, which is frequently paired with gemstones, although other materials such as shells and other plant materials may also be used.

India Gems and Jewelry Market Forecast and Trends

Growth Drivers

Cultural And Religious Significance Of Gems And Jewelry

One of the key elements fueling demand for fine jewelry is the conventions around precious metals. India, for example, uses a lot of gold and silver due to its diverse religious and cultural ties. Several gems are also associated with astrology and have strong beliefs that they affect human lives. Gemstones, which have a specific significance in Vedic astrology, are valuable stones extracted from natural soil that has been utilized for centuries to alleviate issues brought on by planets.

Favorable Government Initiatives And Policies

According to the Indian Trade Portal, the India gems and jewelry market is among the largest in the world and contributes around 29% to global jewelry consumption. With the expanding nature of the industry, the government of the country also takes various initiatives to boost market growth. For instance, The government has allowed 100 percent FDI in the industry under the automatic method, which means that the foreign investor or Indian business does not need to seek prior clearance from the Reserve Bank or the government.

Restraints

High Volatility Of Gems And Jewelry Prices

The price of gems and jewelry prices are extremely volatile and frequently fluctuate, which acts as a major restraining factor for the India gems and jewelry market. Metals like silver and gold often register price fluctuations because of various factors such as demand and supply. When demand for gold grows, so does the price of gold, and vice versa. When the market experiences inflation, the value of currency decreases and individuals are more likely to keep money in the form of gold.

Impact of COVID-19 on India Gems and Jewelry Market

Following the COVID-19-induced pandemic, the Indian gems, and jewelry market was entirely shut down. Because jewelry is largely composed of precious metals that originate from mining, such as gold, diamonds, platinum, and so on, the whole market was put on hold as all mining activities were temporarily halted, after the worldwide lockdown imposed by governments to stop the virus' spread. Furthermore, customers' interests quickly switched from purchasing luxury products to purchasing consumer goods, resulting in a decrease in demand for gems and jewelry. Furthermore, the current demand could not be supplied since all distribution networks were shut down, preventing items from being imported or exported.

India Gems and Jewelry Market - By Product Type

Based on product type, the India gems, and jewelry market is segmented into gold, diamond, silver, gemstones, and others (pearl, platinum, etc.). The gold segment is predicted to hold the highest share of the entire market. In addition, the diamond jewelry market is predicted to grow at the highest rate during the forecast period. In developing nations like India, jewelry, particularly gold jewelry, is used as a kind of investment. It is also used to represent diverse civilizations and functions as a religious object.

India Gems and Jewelry Market - By Distribution Channel

Based on the distribution channel, the India gems and jewelry market is segmented offline and online. The offline store segment accounts for the largest market share. The mono-brand stores enjoy the high demand for the sale of gems and jewelry. This is due to people's proclivity for double-checking the precious metals and gems they purchase. The online store category, on the other hand, is growing at a rapid rate and is likely to dominate the market over the projection period, thanks to the rise of e-commerce platforms and the preservation of high consumer satisfaction.

India Gems and Jewelry Market - Regional Insights

Geographically, the India gems and jewelry market is segmented into North India, South India, East India, and West India. South India dominates the India gems and jewelry market owing to the strong demand for precious jewelry from states like Kerala, Tamil Nadu, Andhra Pradesh, and others. According to an NSSO report, Kerala has the highest monthly per capita spending (MPCE) on gold jewelry in all Indian states. In the rural sector, the state's gold MPCE is Rs. 208.55, more than six times the second-placed Goa's Rs. 34.07.

Competitive Landscape

The leading market players in the India gems and jewelry market are Rajesh Exports Limited, Malabar Gold Private Limited, Titan Company Limited, Bhima Jewelry and Diamonds Private Limited, Kalyan Jewelers India Limited, PC Jeweler Limited, Tribhovandas Bhimji Zaveri Limited, Joyalukkas India Limited, Hari Krishna Exports Private Limited, Vaibhav Global Limited, and other prominent players.

The India gems and jewelry market is highly competitive with the presence of multiple brands as well as local craftspeople who offer exclusive designs and superlative product quality. The companies significantly focus on their distribution channels and are increasingly investing in both online and offline stores. They are also adopting market strategies such as partnerships, mergers, acquisitions, collaboration, etc., to stay ahead of the competition.

Scope of the Report

Attributes Details
Years Considered Historical data – 2018-2021
Base Year – 2021
Forecast – 2022 – 2028
Facts Covered Revenue in USD Billion
Market Coverage North India, South India, East India, and West India
Product Service/Segmentation By Product Type, By Distribution Channel, By Region
Key Players Rajesh Exports Limited, Malabar Gold Private Limited, Titan Company Limited, Bhima Jewelry and Diamonds Private Limited, Kalyan Jewelers India Limited, PCJeweller Limited, Tribhovandas Bhimji Zaveri Limited, Joyalukkas India Limited, Hari Krishna Exports Private Limited, Vaibhav Global Limited, and other prominent players.

 

By Product Type

  • Gold
  • Diamond
  • Silver
  • Gemstones
  • Others
  1. Pearl
  2. Platinum
  3. Others

By Distribution Channel

  • Offline
  • Online

By Region

  • North India
  • South India
  • East India
  • West India
  1. Research Framework
    1. Research Objective
    2. Product Overview
    3. Market Segmentation
  2. Research Methodology
    1. Qualitative Research
      1. Primary & Secondary Research
    2. Quantitative Research
    3. Market Breakdown & Data Triangulation
      1. Secondary Research
      2. Primary Research
    4. Breakdown of Primary Research Respondents, By Region
    5. Assumption & Limitation
  3. Executive Summary
  4. India Gems and Jewelry Market Insights
    1. Industry Value Chain Analysis
    2. DROC Analysis
      1. Growth Drivers
      2. Restraints
      3. Opportunities
      4. Challenges
    3. Technological Landscape/Recent Development
    4. Regulatory Framework
    5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
  5. India Gems and Jewelry Market Overview
    1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Product Type
        1. Gold
        2. Diamond
        3. Silver
        4. Gemstones
        5. Others (Pearl, Platinum, etc.)
      2. By Distribution Channel
        1. Offline
        2. Online
      3. By Region
        1. North India
        2. South India
        3. East India
        4. West India
  6. Competitive Landscape
    1. List of Key Players and Their Product Types
    2. Market Share Analysis, 2021
    3. Competitive Benchmarking, By Operating Parameters
    4. Key Strategic Development (Merger, Acquisition, Partnership.)
  7. Impact of Covid-19 on India Gems and Jewelry Market Industry
  8. Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) **
    1. Rajesh Exports Limited
    2. Malabar Gold Private Limited
    3. Titan Company Limited
    4. Bhima Jewellery and Diamonds Private Limited
    5. Kalyan Jewellers India Limited
    6. PC Jeweller Limited
    7. Tribhovandas Bhimji Zaveri Limited
    8. Joyalukkas India Limited
    9. Hari Krishna Exports Private Limited
    10. Vaibhav Global Limited
    11. Other prominent players

 

  1. Key Strategic Recommendations

 

*Financial information in case of non-listed companies will be provided as per availability

**The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable

 

List of Figures

 

Figure 1        India Gems and Jewelry Market Segmentation

Figure 2        India Gems and Jewelry Market Value Chain Analysis

Figure 3        Company Market Share Analysis, 2021

Figure 4        India Gems and Jewelry Market Size, By Value (USD Million), 2018-2028

Figure 5        India Gems and Jewelry Market Share, By Product Type, By Value, 2018-2028

Figure 6        India Gems and Jewelry Market Share, By Distribution Channel, By Value, 2018-2028

Figure 7        India Gems and Jewelry Market Share, By Region, By Value, 2018-2028

 

List of Tables

 

Table 1         India Gems and Jewelry Market Size, By Product Type, By Value, 2018-2028                      

Table 2         India Gems and Jewelry Market Size, By Distribution Channel, By Value, 2018-2028                     

Table 3         India Gems and Jewelry Market Size, By Region, By Value, 2018-2028 

Table 4         Rajesh Exports Limited Company Overview                                     

Table 5         Rajesh Exports Limited Financial Overview                             

Table 6         Malabar Gold Private Limited Company Overview                              

Table 7         Malabar Gold Private Limited Financial Overview  

Table 8         Titan Company Limited Company Overview                                     

Table 9         Titan company Limited Financial Overview                             

Table 10        Bhima Jewellery and Diamonds Private Limited Company Overview                                  

Table 11        Bhima Jewellery and Diamonds Private Limited Financial Overview                                   

Table 12        Kalyan Jewellers India Limited Company Overview                                     

Table 13        Kalyan Jewellers India Limited Financial Overview         

Table 14        PC Jewellers India Limited Company Overview                                 

Table 15        PC Jewellers India Limited Financial Overview               

Table 16        Tribhovandas Bhimji Zaveri Limited Company Overview                              

Table 17        Tribhovandas Bhimji Zaveri Limited Financial Overview            

Table 18        Joyalukkas India Limited Company Overview                                   

Table 19        Joyalukkas India Limited Financial Overview                          

Table 20        Hari Krishna Exports Private Limited Company Overview                             

Table 21        Hari Krishna Exports Private Limited Financial Overview                              

Table 22        Vaibhav Global Limited Company Overview                                     

Table 23        Vaibhav Global Limited Financial Overview                             

 

Market Segmentation

By Product Type

  • Gold
  • Diamond
  • Silver
  • Gemstones
  • Others
  1. Pearl
  2. Platinum
  3. Others

By Distribution Channel

  • Offline
  • Online

By Region

  • North India
  • South India
  • East India
  • West India
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Frequently Asked Questions (FAQs):

Ans: India gems and jewelry market is anticipated to grow at the CAGR of 8.40%.
Ans: The gold segment accounted for the largest share in the India gems and jewelry market.
Ans: South India has the largest share in the India gems and jewelry market.
Ans: The major factors driving the growth of the India gems and jewelry market are; cultural and religious significance of gems and jewelry and favorable government initiatives and policies.
Ans: The key players in the India gems and jewelry market are: Rajesh Exports Limited, Malabar Gold Private Limited, Titan Company Limited, Bhima Jewelry and Diamonds Private Limited, Kalyan Jewelers India Limited, PC Jeweler Limited, Tribhovandas Bhimji Zaveri Limited, Joyalukkas India Limited, Hari Krishna Exports Private Limited, Vaibhav Global Limited, and other prominent players.