Executive Summary The Global Luxury Jewelry Market was valued at USD 46.52 billion in the year 2021. Global Luxury Jewelry Market witnessed healthy growth during the historical period, on account of a significant increase in disposable income of consumers across the globe. Major factors driving sales of Luxury Jewelry products include increasing disposable income levels, changing consumer preferences coupled with the rising population of high net worth individuals. Additionally, different customs followed by people across the world regarding the adoption of ornaments and gems is further anticipated to boost the purchase of products significantly. The high demand for diamonds, as well as gold, ensures that Jewelry holds its value and will always be easy to liquidate when needed, thus impelling the market growth.
The outspread of coronavirus had a huge impact on the jewelry market. The high-value diamond pieces and the high-end chunky jewelry widely popular in the Middle-East and far-east witnessed a huge downfall. The uncertain economic future caused an imbalance in the sale and export in context with the gem and jewelry industry. The management of key players duly intervened to deal with the crisis.
The rising trend of customization and personalization of jewelry pieces has encouraged several market vendors to offer customization options to their customers. Many vendors are offering a separate option for personalization on their website where customers can customize their rings in terms of the type of material and gemstone and the shape and design of rings.
Over the years, demand for bespoke diamond jewelry has increased significantly, as consumers prefer their own choices to be integrated into the design of wedding and engagement jewelry. Platinum and gold are the most common settings for diamonds, and the popularity of platinum is estimated to increase significantly in the near future. Moreover, Monobrand stores have been gaining ground at the expense of mail-order players.
Scope of the Report • The report presents the analysis of Luxury Jewelry Market for the historical period of 2017-2021 and the forecast period of 2022-2027.
• The report analyses the Luxury Jewelry Market by value (USD Million).
• The report analyses the Luxury Jewelry Market by Product Type (Necklace, Ring, Earring, Others).
• The report analyses the Luxury Jewelry Market by Material (Diamond, Gold, Platinum, Others).
• The report analyses the Luxury Jewelry Market by Distribution Channel (Offline Stores, Online Stores)
• The Global Luxury Jewelry Market has been analysed by Region (North America, Europe, Asia Pacific, LAMEA).
• The Global Luxury Jewelry Market has been analysed by Country (United States, Canada, UK, Germany, France, Italy, China, India, Japan, UAE).
• The key insights of the report have been presented through the frameworks of SWOT and Porter’s Five Forces Analysis. Also, the attractiveness of the market has been presented by region, by Product Type, by Material, by Distribution Channel)
• Also, the major opportunities, trends, drivers and challenges of the industry has been analysed in the report.
• The report tracks competitive developments, strategies, mergers and acquisitions and new product development. The companies analysed in the report include Richemont, LVMH, Signet Jewelers, Kering, Pandora, Chanel, The Swatch Group, Swarovski, Chopard, Buccellati Holding
Key Target Audience
• Jewelry Companies
• Consulting and Advisory Firms
• Government and Policy Makers
• Regulatory Authorities
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