Introduction: Growth of the Global Jewelry Market
The global jewelry market is set to experience significant growth, with a projected market value of USD 373.39 billion by 2030, up from USD 260.46 billion in 2023. The market is expected to grow at a CAGR of 5.28% during the forecast period (2023–2030). This growth is driven by increasing consumer spending on luxury products, the rise of online retail, and the growing demand for customization and sustainable jewelry.
The Maximize Market Research report highlights key trends, developments, and mergers reshaping the jewelry sector, with significant activity observed in various regions globally, including Asia, Europe, and North America.
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Key Developments in the Global Jewelry Market
- Increased Demand for Luxury Jewelry: As the global economy recovers and disposable incomes rise, consumers are increasingly investing in luxury jewelry, with a focus on high-end, customizable, and unique pieces. This trend is evident in both developed and emerging markets.
- Technological Advancements in Jewelry Production: The introduction of 3D printing technology and digital customization platforms has revolutionized the way jewelry is designed and produced. Consumers now expect personalized, bespoke jewelry solutions that cater to their individual tastes and preferences.
- Sustainability and Ethical Practices: Eco-conscious consumers are increasingly seeking sustainable and ethically sourced jewelry. Leading brands are adopting practices such as using recycled metals, ethically sourced gemstones, and eco-friendly packaging to cater to the growing demand for responsible luxury.
- Rise of Online Jewelry Retail: E-commerce platforms are becoming key distribution channels for jewelry sales. The growth of online retail is particularly significant in regions like North America, Europe, and Asia, where consumers are increasingly purchasing jewelry online, driven by convenience and access to a wider variety of designs.
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Mergers and Acquisitions: Global Strategic Moves in the Jewelry Industry
The jewelry market is experiencing a wave of mergers, acquisitions, and partnerships as companies aim to diversify their portfolios, expand geographically, and meet consumer demand for luxury and sustainable products.
Key M&A Activity and Developments
- Vietnam: In Vietnam, local jewelry companies are forming joint ventures with international brands to enter the luxury segment. One notable deal involves a Vietnamese jewelry retailer partnering with a European brand to introduce high-end products to the Southeast Asian market.
- Thailand: Thailand’s jewelry market is known for its intricate craftsmanship, and the country is witnessing an increasing number of mergers between local artisans and global luxury brands. A major acquisition involved a Thai jewelry design house merging with a U.S.-based jewelry giant to expand into North American markets.
- Singapore: Singapore’s strategic position as a global trade hub has led to increased M&A activity in the jewelry sector. Singapore-based luxury brands are acquiring smaller boutique designers to broaden their product offerings and capitalize on the growing demand for unique, custom-made pieces.
- Japan & South Korea: Japan and South Korea are home to several renowned jewelry brands that have expanded globally. South Korean jewelry companies are acquiring innovative design firms to improve their product range, while Japanese luxury brands are partnering with tech companies to integrate digital experiences into their jewelry products.
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Jewelry Market Segmentation:
by Product Type
Rings
Necklaces and Pendants
Earrings
Bracelets and Bangles
Watches
Brooches and Pins
Rings, Necklaces and Pendants, Earrings, Bracelets and Bangles, Watches, and Brooches and Pins are the product categories into which the market is divided. With the greatest jewelry market share during the projected period, the rings sector is anticipated to maintain its dominance, having done so in 2022. Particularly important to the appeal and sales of rings are wedding bands and engagement rings. Engagement rings are a mainstay in the jewelry market since they are frequently seen as symbolic and necessary for weddings and proposals.
by Material
Gold
Diamond
Platinum
Stainless steel
Other
The market is divided into stainless steel, gold, diamonds, platinum, and other categories. The jewelry market was dominated by the gold and diamond sector in 2022 and is anticipated to continue to do so during the forecast period. Weddings, engagements, and anniversaries are among the life events and special occasions when gold jewelry is worn. In many societies, it has cultural and emotional importance. In addition to its ornamental value, gold is regarded as an investment, which is anticipated to accelerate the expansion of the jewelry sector.
by End-user
Men
Women
Children
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Jewelry Market Key Players:
Several leading players dominate the global jewelry market, and their recent mergers and acquisitions reflect the changing dynamics of the industry, including shifts toward luxury, sustainability, and technological integration.
- LVMH (Moët Hennessy Louis Vuitton): LVMH is a major player in the luxury jewelry segment. In recent years, LVMH has expanded its portfolio by acquiring iconic brands like Tiffany & Co., strengthening its position in the high-end jewelry market and solidifying its leadership in luxury retail.
- Richemont Group: Richemont, the owner of renowned brands such as Cartier, Van Cleef & Arpels, and Montblanc, has been actively acquiring jewelry companies that specialize in customization and sustainable practices. The group’s latest acquisition of a personalized jewelry platform is expected to enhance its digital offerings.
- Pandora: Pandora, a leader in affordable luxury jewelry, has focused on expanding its presence in the sustainable jewelry sector. The company has recently acquired a sustainable diamond producer to increase its offering of eco-friendly jewelry products.
- Chopard: Chopard, known for its luxury watches and fine jewelry, has entered several strategic alliances to enhance its sustainable practices. Chopard’s recent partnership with a blockchain-based platform is part of its efforts to ensure full transparency in its supply chain.
1. Tiffany & Co.
2. Pandora
3. Chow Tai Fook
4. Louis Vuitton SE
5. Richemont
6. GRAFF
7. Signet Jewelers Limited
8. H. Stern
9. Malabar Gold & Diamonds
10. Buccellati
11. Cartier
12. LVMH Group
13. SHR Jewelry Group
14. Swarovski
15. Tata Sons Private Ltd
16. The Swatch Group AG
17. Rajesh Exports Ltd.
18. Chopard
19. Hary Winston, Inc.
Market Outlook: The Future of the Global Jewelry Market
The global jewelry market is expected to continue its steady growth, driven by factors such as technological innovations, increasing demand for luxury and personalized products, and rising interest in sustainable practices. As more consumers prioritize ethical sourcing and environmental responsibility, jewelry brands will continue to adapt by incorporating sustainable practices into their production and distribution processes.
Mergers and acquisitions are likely to remain a central theme in the market, as established players look to expand their reach, innovate their offerings, and stay competitive in a rapidly evolving global marketplace.
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