Luxury Jewelry Market Research Report—Forecast till 2030

Luxury Jewelry Market Analysis Research Report: Information by Type (Necklace, Ring, Bracelet, Earrings, Others), Material (Gold, Silver, Platinum, Others), End-User (Men, Women), Distribution Channel (Store-Based, Non-Store-Based), Region- Forecast till 2030

ID: MRFR/CR/5527-HCR | December 2022 | Region: Global | 90 Pages         

Luxury Jewelry Market

Luxury Jewelry Market is expected to grow USD 95.78 billion at a CAGR 7.85% during the dorecast 2022-2030.

Segmentation

By Type Necklace Ring Bracelet Earrings Others
By Material Gold Silver Platinum Others
By End-User Men Women

Key Players

  • Buccellati Holding Italia SPA.
  • Chopard International SA
  • Mikimoto& Co. Ltd.
  • Bulgari S.P.A.
  • Graff Diamond Corporation
  • Compagnie Financiere Richemont S.A.
  • Tiffany & Co.
  • Societe Cartier
  • Harry Winston Inc.
  • Guccio Gucci S.P.A.
  • Chanel
  • LVMH Moet Hennessy
  • Signet Jewelers
  • Cartier International SNC
  • Rajesh Exports Ltd.

Drivers

  • Raising discretionary cash flow levels
  • Expanded interest for very good quality style things
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Luxury Jewelry Market Overview:


Luxury Jewelry Market is estimated to reach USD 95.78 billion by the year 2030. And, it is also valued to get the CAGR value of 7.85% during the forecasting period.

Luxury Jewelry is well-known for its intricate designs and utilization of the most expensive and uncommon unrefined substances. The Luxury Jewelry Market is dynamic and quickly developing. It is additionally exceptionally divided and determined by buyer conduct and style. In the coming years, huge market development is normal, from rising extra cash and expanding buyer consumption on extravagant merchandise. Incorporating the luxury gems industry with the diversion and allure businesses has set new open doors for the market.


COVID-19 Analysis:


COVID-19 is an incomparable global public health that has influenced almost every industry, and the drawn-out impacts are projected to affect the business development during the estimated time frame. The continuous exploration enhances our examination structure to guarantee the consideration of basic COVID-19 issues and common ways ahead.

The report conveys bits of knowledge on COVID-19 thinking about the progressions in shopper conduct and request, buying designs, re-steering of the inventory network, elements of current market influences, and the huge intercessions of states. The refreshed review gives experiences, examinations, assessments, and figures, considering the COVID-19 effect available.


Luxury Jewelry Market Dynamics:


Drivers:


One of the main points driving the Luxury Jewelry Market is raising discretionary cash flow. When the populace's discretionary cash flow develops, so does their purchasing power, bringing about expanded interest and utilization for luxury gems. Moreover, the traditions encompassing valuable metals are essential components driving the interest for extravagant adornments pieces.

As a result of various strict and social affiliations, India, for instance, burns through a ton of gold and silver. It is worth focusing on how an expanding discretionary cash flow determines India's luxury gems market development.

The development of the market is anticipated to be driven by the expanded interest for very good quality style things and rising discretionary cash flow levels. Item request is likewise projected to be helped by rising client craving for marked adornments. Purchasers will spend more cash on marked and very good quality adornments to communicate their style.


Restraints:


Strict Regulations Surrounding Trading of Luxury Jewelry

In a few nations, imports and commodities of valuable metals and adornments are liable to high levies and aberrant duties, which amount to the general expense of the eventual outcomes. This might hinder the development of the general market, as numerous potential clients are starting to re-examine their choice of buying expensive products.

Moreover, the valuable metals utilized for making extravagant adornments are unevenly disseminated throughout the planet. Likewise, political pressures between nations, which might block the development of the worldwide luxury gems market, hamper the smooth progression of luxury merchandise.


Opportunities:


Expanding interest in men's adornments addresses possible freedom for the development of the market over the figure time frame. Ordinarily, ladies are more disposed than men towards buying luxury gems. Be that as it may, this pattern is changing, inferable from expanding focal point of men on self-prepping and on tasteful allure.

Additionally, expanding the impact of online media has prompted high reception of men's most stylish trend patterns. Such factors add to expanding interest in men's luxury gems items like armbands, rings, accessories. Like this, makers could zero in on these items to acquire an edge on the lookout.


Challenges:


Cash variances and fewer brand outlets in arising locales are relied upon to prevent the worldwide luxury adornments market soon. Besides, the rising presence of heritage brands in internet business affecting the more youthful populace can introduce rewarding development openings in the worldwide luxury adornments market.


Cumulative Analysis:


The Luxury Jewelry Market Size is expected to grow from USD 22,766.05 Million in 2021 to USD 95.78 billion by the end of 2030 at a Compound Annual Growth Rate (CAGR) of 7.85%.


Segment Overview:


Worldwide Luxury Jewelry Market - By Product


Luxury Jewelry Market Share is divided into accessories, rings, armbands, hair adornments, hoops, leg and feet decorations, etc. The stud section is relied upon to be the quickest developing fragment in the general luxury gems market during the figure time frame.

Diversely designed hoops are a speedy and simple way for ladies to spruce up and match their outfit style, spurring a huge interest for variously estimated profit among females. Besides, the developing pattern of ear penetrating, and numerous ear puncturing is likewise driving the development of this section.


Worldwide Luxury Jewelry Market - By Material-Used


The Luxury Jewelry Market Analysis is divided into gold, silver, precious stone, platinum, pearls, and others in light of the material utilized. Among these, the gold section is relied upon to have the biggest offer in the general market during the conjecture time frame.


Likewise, the precious stone gems portion is relied upon to be the quickest developing fragment. An adornment, particularly gold gems, fills in as interest in agricultural nations like India. It likewise fills a reverential need and is utilized to address different societies.


Worldwide Luxury Jewelry Market - By Distribution


The Luxury Jewelry Market Trends sectioned into mono-brand, online, and disconnected stores in light of the appropriation channel. The mono-brand stores partake in the appeal for the offer of luxury gems.


Luxury Jewelry Market Growth is because individuals are leaned towards cross-checking the items they are purchasing. In any case, with the development of internet business stages and the support of high consumer loyalty, the web-based store section is increasing at an extremely high rate. It is relied upon to rule the market during the estimated time frame.


Regional Analysis:


The Luxury Jewelry Market Forecasts are geographically divided into North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), and Middle-East and Africa. Europe represented the biggest portion of the overall industry on the lookout, trailed by North America. These areas comprise created countries with high per capita pay, just as powerful luxury brands, filling the market development.


Moreover, the high female workforce interest rate in these nations is a significant factor that adds to the development of the market. Likewise, the Asia-Pacific area is anticipated to have a high CAGR during the conjecture time frame.


Competitive Landscape:


The leading market players in the global luxury jewelry market are:



  • Buccellati Holding Italia SPA.

  • Chopard International SA,

  • Mikimoto& Co., Ltd.,

  • Bulgari S.P.A.,

  • Graff Diamond Corporation,

  • Compagnie Financiere Richemont S.A.,

  • Tiffany & Co.,

  • Societe Cartier,

  • Harry Winston, Inc.,

  • Guccio Gucci S.P.A.,

  • Chanel,

  • LVMH Moet Hennessy,

  • Signet Jewelers,

  • Cartier International SNC,

  • Rajesh Exports Ltd.


The Luxury Jewelry Market Outlook is highly dense and consolidated with luxury brands like Chanel, Gucci, etc. Also, a few extravagant gems producers seek natural and inorganic vital drives to keep up with their portion of the overall industry. Consolidations, acquisitions, geographic development, and new item deliveries are a portion of the centre strategies utilized by market pioneers.


Report Overview:


The ascent popular for good gems and the ascent sought after for sexual orientation liquid adornments boost the Luxury Jewelry Market Revenue. Luxury Jewelry has additionally developed into vehicles for self-articulation, with numerous purchasers searching for remarkable and significant pieces. Non-customary structures, shapes, and materials have discovered their direction into gems assortments.


Unbalanced cuts, blemishes in gemstones, useful things, and dark pearls added a character component that spoke to clients' feeling of independence. Pearl gems acquired prevalence because of shining supports from US Vice President Kamala Harris, film and music geniuses, and individuals from the British Royal Family at high-profile public occasions.


Limits are being penetrated in gems patterns, from watches to wedding bands and then some, as sex smoothness becomes progressively broad. While male adornments have consistently existed, more unisex pieces are arising.


Recent Developments:


In May 2021, Future Jewelry, a US-based driving luxury adornments brand, dispatched the primary without mercury-gold gems assortment. Understanding the natural outcomes of gold mining, the item dispatch is pointed toward decreasing the danger of mercury emanations on the earth.


In May 2021, Tiffany and Co., a US-based driving gems brand, reported its arrangement of delivering its first men's wedding bands. The design extends their purchaser base and taps the developing business sector because of the expanding same-sex relationships and sexual orientation liquid style.



Report Scope:

Report Attribute/Metric Details
  Market Size   USD 95.78 Billion
  CAGR   7.85%
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2020
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   By Type, Material, End-User, Distribution Channel, and Region
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Buccellati Holding, Italia SPA, Chopard International SA, Mikimoto & Co. Ltd., Bulgari S.P.A., Graff Diamond Corporation, Compagnie Financiere Richemont S.A., Tiffany & Co., Societe Cartier, Harry Winston Inc., Guccio Gucci S.P.A., Chanel, LVMH Moet Hennessy, Signet Jewelers, Cartier International SNC, Rajesh Exports Ltd.
  Key Market Opportunities   Expanding interest in men's adornments, Expanding the impact of online media
  Key Market Drivers   Raising discretionary cash flow levels, Expanded interest for very good quality style things


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Frequently Asked Questions (FAQ) :

The luxury jewelry market is estimated to grow at a CAGR of 7.85% from 2022 to 2030.

The central participants in the worldwide luxury jewelry market are Buccellati Holding Italia SPA, Chopard International SA, Mikimoto and Co., Ltd., Bulgari S.P.A., Graff Diamond Corporation, CompagnieFinanciereRichemont S.A., Tiffany and Co., Societe Cartier, Harry Winston, Inc., Guccio Gucci S.P.A., Chanel, LVMH Moet Hennessy, Signet Jewelers, Cartier International SNC, Rajesh Exports Ltd., Pandora Jewelry, LLC., Van Cleef Arpels, Messika, Damiani, and other unmistakable players.

The gold portion represented the biggest offer in the worldwide luxury jewelry market.

The main considerations driving the development of the market are; expanding per capita pay and buying force of purchasers and high openness to worldwide style.

The luxury jewelry market is projected to reach USD 95.78 billion by 2030.