Gems and Jewellery Market Size & Growth Analysis to 2030

The global gems and jewellery market size is expected to grow at a compound annual growth rate (CAGR) of over 5% during the forecast period from 2023 to 2030. The market growth is attributed to various factors such as rising disposable incomes, increasing urbanization, growing demand for branded and designer jewellery, and the popularity of online sales channels. Additionally, the demand for jewellery is also driven by factors such as cultural traditions, social status, and fashion trends.

The Asia Pacific region is the largest market for gems and jewellery, followed by North America and Europe. This is due to the large population and high demand for jewellery in countries like China and India. Overall, the gems and jewellery market is expected to continue to grow in the coming years, driven by various factors such as rising consumer spending and increasing demand for unique and personalized jewellery pieces.

Driving Factors:

Rising Disposable Incomes: As the global economy continues to grow and incomes rise, consumers have more disposable income to spend on luxury goods such as jewellery.

Increasing Urbanization: As more people move to urban areas, the demand for jewellery increases, as cities tend to have a higher concentration of wealth and luxury goods stores.

Growing Demand for Branded and Designer Jewellery: The popularity of branded and designer jewellery is increasing, as consumers are willing to pay a premium for unique and high-quality pieces.

Popularity of Online Sales Channels: The rise of e-commerce has made it easier for consumers to purchase jewellery online, which has helped to drive the growth of the market.

Cultural Traditions and Social Status: Jewellery has long been associated with cultural traditions and social status, and this continues to be a driving factor in the market. In many cultures, jewellery is an important symbol of wealth, status, and identity.

Fashion Trends: Fashion trends also play a role in driving the demand for jewellery, as consumers seek to keep up with the latest styles and designs.

Market Attributes:

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Market Insights:

Global Gems and Jewellery Market Analysis by Product Type

The global gems and jewellery market is bifurcated into product type, end-use, distribution channel, and geography. On the basis of product type, the market is further segmented into diamonds, gold, platinum, silver, and others. The diamond segment is considered the dominant segment in the market. Diamonds are the most valuable and sought-after gemstones in the world. They are popular for their rarity, durability, and beauty, and are often used in engagement rings and other special occasion jewellery. The diamond segment of the market is also heavily influenced by the De Beers Group, which has a significant impact on the global diamond supply chain.

In addition to their intrinsic value, diamonds also have a strong brand image and are associated with luxury and exclusivity. This has helped to drive the demand for diamonds, particularly among high-net-worth individuals and luxury consumers. While the other product types such as gold, platinum, silver, and others have their own unique appeal and consumer bases, the diamond segment remains the dominant segment in the gems and jewellery market.

Diamonds: The diamond segment is the largest and most valuable segment of the gems and jewellery market. The popularity of diamonds is due to their rarity, durability, and beauty. The demand for diamonds is also driven by their use in engagement rings and other special occasions.

Gold: Gold is a popular material for jewellery due to its malleability and durability. The demand for gold jewellery is particularly high in emerging markets such as India and China, where it is an important cultural symbol.

Platinum: Platinum is a rare and valuable metal that is often used in high-end jewellery. The demand for platinum jewellery is increasing, particularly in the bridal market, where it is often used in engagement and wedding rings.

Silver: Silver is a more affordable alternative to gold and platinum and is often used in fashion jewellery. The demand for silver jewellery is growing, particularly among younger consumers who are looking for more affordable and trendy options.

Others: This segment includes other precious and semi-precious stones such as pearls, emeralds, and rubies. The demand for these stones is often driven by their unique colour and properties, as well as cultural traditions and symbolism.

Global Gems and Jewellery Market Analysis by End-Use

On the basis of end-use, the global gems and jewellery market is bifurcated into personal adornment, investment, and industrial applications. The personal adornment segment is the largest and most important segment of the gems and jewellery market. The demand for jewellery in this segment is driven by cultural traditions, fashion trends, and personal preferences. However, the investment and industrial segments also play important roles in the market, particularly for precious stones and metals.

Personal Adornment: Personal adornment is the most common end-use segment of the gems and jewellery market. Consumers purchase jewellery for personal use and to enhance their appearance. The demand for jewellery in this segment is driven by cultural traditions, fashion trends, and personal preferences.

Investment: The investment segment of the gems and jewellery market refers to consumers who purchase precious stones and metals as a form of investment. Gold, diamonds, and other precious stones have long been considered a store of value and a hedge against inflation. The demand for jewellery in this segment is often driven by economic and geopolitical factors.

Industrial: The industrial use of gems and jewellery refers to the use of precious stones and metals in various industries such as electronics, aerospace, and medicine. The demand for these materials in this segment is driven by their unique properties such as electrical conductivity, resistance to corrosion, and biocompatibility.

The gems and jewellery market research report presents the analysis of each segment from 2020 to 2030 considering 2022 as the base year for the research. The compounded annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2023 to 2030.

Historical & Forecast Period

• 2020-21 – Historical Year
• 2022 – Base Year
• 2023-2030 – Forecast Period

Market Segmentation:

By Product Type:

• Diamonds
• Gold
• Platinum
• Silver
• Others

By End-Use:

• Personal Adornment
• Investment
• Industrial

By Distribution Channel:

• Offline
• Online

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Geographic Coverage

On the basis of region, the Asia Pacific is accounted to hold the largest market share of the global gems and jewellery market in the benchmark year. India has been considered the dominant region in the global market. India is known for its rich tradition in jewellery making, and the country has a long history of producing high-quality gems and jewellery. The country is also home to one of the largest diamond-cutting and polishing centers in the world, located in Surat. The Indian gems and jewellery industry employs over 4.6 million people and contributes significantly to the country’s economy.

In addition to India, other dominant regions in the gems and jewellery market include China, the United States, and Europe. China has a large domestic market for gems and jewellery and is also a major producer of pearls and jade. The United States is a significant consumer market for high-end jewellery, particularly diamonds, and is also home to some of the world’s leading jewellery brands. Europe, particularly Italy, is known for its high-end fashion jewellery and luxury brands.

Competitive Assessment

The global gems and jewellery market is highly competitive, with numerous players operating in the market. Some of the major players in the market include:

Richemont Group: Richemont Group is a Swiss luxury goods company that owns several high-end jewellery brands such as Cartier, Van Cleef & Arpels, and Piaget.

Signet Jewelers: Signet Jewelers is the largest specialty retail jeweler in the US and operates over 3,000 stores worldwide under various brand names such as Kay Jewelers, Zales, and Jared.

Tiffany & Co.: Tiffany & Co. is a leading American luxury jewellery brand known for its high-end diamond and sterling silver jewellery.

LVMH Moet Hennessy Louis Vuitton SE: LVMH is a French multinational luxury goods conglomerate that owns several high-end jewellery brands such as Bulgari, Chaumet, and Fred.

Chow Tai Fook: Chow Tai Fook is a Hong Kong-based jewellery company that operates over 2,600 stores worldwide and is known for its high-quality diamonds and gold jewellery.

These companies compete with each other based on factors such as product quality, design, price, distribution channels, and marketing strategies. In addition, there are several smaller players in the market that offer unique and niche products, further increasing the competition in the market.

Key Companies:

• Richemont Group
• Signet Jewelers
• Tiffany & Co.
• LVMH Moet Hennessy Louis Vuitton SE
• Chow Tai Fook
• Harry Winston
• Graff Diamonds
• Buccellati
• Swarovski
• Pandora A/S
• Cartier
• Van Cleef & Arpels

Key Questions Answered by Gems and Jewellery Market Report

• Global gems and jewellery market forecasts from 2023-2030
• Regional market forecasts from 2023-2030 covering Asia-Pacific, North America, Europe, Middle East & Africa, and Latin America
• Country-level forecasts from 2023-2030 covering 15 major countries from the regions as mentioned above
• Gems and jewellery submarket forecasts from 2023-2030 covering the market by product type, end-use, distribution channel, and geography
• Various industry models such as SWOT analysis, Value Chain Analysis about the market
• Analysis of the key factors driving and restraining the growth of the global, regional, and country-level gems and jewellery markets from 2023-2030
• Competitive Landscape and market positioning of top 10 players operating in the market