Luxury Jewelry Market Report 2024 (Global Edition)

Global Luxury Jewelry Market Report 2024 Market Size Split by Raw Material (Gold, Platinum, Diamond, Precious Pearls, Gemstones, Others), by Product (Necklaces, Ring, Earrings, Bracelets, Others), by ...

Luxury Jewelry Market Report Description

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Luxury Jewelry Market Insights Video

Competitive Landscape of the Luxury Jewelry Market

A large array of established brands and rising designers marks the competitive panorama of the luxury jewelry market. Major players like Cartier, and Bulgari dominate with strong emblem fairness and heritage. However, new entrants are more and more shooting purchaser interest by means of offering unique designs and sustainable practices. The marketplace is also seeing collaborations and partnerships between luxurious brands and artists or influencers, enhancing visibility and appeal. Digital marketing and e-commerce platforms are critical for preserving competitiveness and attaining a broader target audience.

In May 2024, Virginia Beach-bred and bred artist Pharrell Williams has introduced a new jewelry line accessible through the esteemed Tiffany & Co. The "Tiffany Titan" line was inspired, according to Pharrell, by the Greek god Poseidon, the lord of Atlantis, and the Atlantis apartments he lived in while growing up in Virginia Beach. (Source: https://www.13newsnow.com/article/news/entertainment-news/pharrell-williams-jewelry-collection-virginia-beach/291-4603fe80-9871-4e48-815f-2dfe7a114c4b In January 2024, Actor and filmmaker Michael B. Jordan was named as the newest global brand ambassador for the top American luxury jewelry company, David Yurman. Jordan will be the face of the company's 2024 advertising campaign as well as its first Men's High Jewelry line, The Vault. (Source: https://gjepc.org/solitaire/david-yurmans-debut-mens-high-jewelry-line-enlists-michael-b-jordan-as-global-brand-ambassador/

Top Companies Market Share in Luxury Jewelry Industry: (In no particular order of Rank)

• Guccio Gucci S.p.A.
• The Swatch Group Ltd.
• Tiffany & Co.
• Louis Vuitton SE
• Richemont
• GRAFF
• Signet Jewelers Limited
• Chopard International SA
• MIKIMOTO
• Pandora Jewelry
• LLC
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of the Luxury Jewelry Market

Which Region Dominates the Luxury Jewelry Market in 2024?

According to Cognitive Market Research, North America currently dominates the Luxury Jewelrys market, and the region is expected to have significant growth during the projected period. The luxury jewelry market in North America is experiencing a large boom, pushed by means of growing disposable incomes and increasingly prosperous purchasers. Changing purchaser options, consisting of a focal point on customized and sustainable portions, are shaping the marketplace. Additionally, the enlargement of e-commerce and digital advertising strategies is improving logo visibility and accessibility, similarly boosting sales in the area.

Which Region is Expanding at the Fastest CAGR?

Asia-Pacific is expected to make significant gains during the projected period, with the greatest compound annual growth rate (CAGR). The Asia-Pacific luxury earrings marketplace is increasing unexpectedly, fueled by means of growing disposable incomes and a burgeoning middle class seeking exceptional merchandise. Countries like China and India are essential contributors to this increase, with a growing call for personalized and precise designs. Additionally, the effect of social media and celebrity endorsements is riding hobby in luxurious jewelry, enhancing emblem visibility and consumer engagement.

The current report Scope analyzes Luxury Jewelry Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Luxury Jewelry Market

According to Cognitive Market Research, the global Luxury Jewelry market size was estimated at USD 57154.2 Million, out of which North America held the major market share of more than 40% of the global revenue with a market size of USD 22861.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 1.2% from 2024 to 2031.

• According to Cognitive Market Research, the US had a major share in the Luxury Jewelry market with a market size of USD 18037.87 million in 2024 and is projected to grow at a CAGR of 1.0% during the forecast period. The U.S. market's rising disposable incomes.
• The Canada Luxury Jewelry market had a market share of USD 2743.40 million in 2024 and is projected to grow at a CAGR of 2.0% during the forecast period. Canada’s growing consumer awareness.
• The Mexico Luxury Jewelry market is projected to witness growth at a CAGR of 1.7% during the forecast period, with a market size of USD 2080.41 million in 2024.

Europe Luxury Jewelry Market

According to Cognitive Market Research, the global Luxury Jewelry market size was estimated at USD 57154.2 Million, out of which Europe held the market share of more than 30% of the global revenue with a market size of USD 17146.26 million in 2024 and will grow at a compound annual growth rate (CAGR) of 1.5% from 2024 to 2031.

• The United Kingdom Luxury Jewelry market had a market share of USD 2880.57 million in 2024 and is projected to grow at a CAGR of 2.3% during the forecast period. In the UK, Luxury Jewelry sales witness an upswing due to the E-commerce expansion.
• The France Luxury Jewelry market is projected to witness growth at a CAGR of 0.7% during the forecast period, with a market size of USD 1577.46 million in 2024.
• According to Cognitive Market Research, the German Luxury Jewelry market size was valued at USD 3394.96 million in 2024 and is projected to grow at a CAGR of 1.7% during the forecast period. In Germany, Luxury Jewelry surged due to the celebrity endorsements.
• The Italy Luxury Jewelry market is projected to witness growth at a CAGR of 0.9% during the forecast period, with a market size of USD 1474.58 million in 2024.
• The Russia Luxury Jewelry market is projected to witness growth at a CAGR of 0.5% during the forecast period, with a market size of USD 2657.67 million in 2024.
• The Spain Luxury Jewelry market is projected to witness growth at a CAGR of 0.6% during the forecast period with a market size of USD 1405.99 million in 2024
• The Luxembourg Luxury Jewelry market is projected to witness growth at a CAGR of 1.6% during the forecast period, with a market size of USD 531.53 million in 2024.
• The Portugal Luxury Jewelry market is projected to witness growth at a CAGR of 1.3% during the forecast period, with a market size of USD 360.07 million in 2024.
• The Greece Luxury Jewelry market is projected to witness growth at a CAGR of 1.8% during the forecast period, with a market size of USD 205.76 million in 2024.
• The Rest of Europe's Luxury Jewelry market is projected to witness growth at a CAGR of 0.2% during the forecast period, with a market size of USD 2657.67 million in 2024.

Asia Pacific Luxury Jewelry Market

According to Cognitive Market Research, the global Luxury Jewelry market size was estimated at USD 57154.2 Million, out of which Asia Pacific held the market share of around 23% of the global revenue with a market size of USD 13145.47 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.00% from 2024 to 2031.

• According to Cognitive Market Research, the China Luxury Jewelry market size was valued at USD 5915.46 million in 2024 and is projected to grow at a CAGR of 4.5% during the forecast period. Luxury Jewelry surged in China due to changing fashion trends.
• The Japan Luxury Jewelry market is projected to witness growth at a CAGR of 3.5% during the forecast period, with a market size of USD 1814.07 million in 2024.
• The India Luxury Jewelry market had a market share of USD 1577.46 million in 2024 and is projected to grow at a CAGR of 6.8% during the forecast period. India's cultural significance.
• The South Korean Luxury Jewelry market is projected to witness growth at a CAGR of 4.1% during the forecast period, with a market size of USD 1314.55 million in 2024.
• The Australian Luxury Jewelry market is projected to witness growth at a CAGR of 4.7% during the forecast period, with a market size of USD 683.56 million in 2024.
• The South East Asia Luxury Jewelry market is projected to witness growth at a CAGR of 6.0% during the forecast period, with a market size of USD 907.04 million in 2024.
• The Rest of Asia Pacific Luxury Jewelry market is projected to witness growth at a CAGR of 4.8% during the forecast period, with a market size of USD 933.33 million in 2024.

South America Luxury Jewelry Market

According to Cognitive Market Research, the global Luxury Jewelry market size was estimated at USD 57154.2 Million, out of which the Latin America held the market share of around 5% of the global revenue with a market size of USD 2857.71 million in 2024 and will grow at a compound annual growth rate (CAGR) of 2.4% from 2024 to 2031.

• According to Cognitive Market Research, the Brazil Luxury Jewelry market size was valued at USD 1223.10 million in 2024 and is projected to grow at a CAGR of 3.0% during the forecast period. Luxury Jewelrys flourished in Brazil due to investment potential.
• Argentina's Luxury Jewelry market had a market share of USD 480.10 million in 2024 and is projected to grow at a CAGR of 3.3% during the forecast period. personalization demand.
• Colombia Luxury Jewelry market is projected to witness growth at a CAGR of 2.2% during the forecast period, with a market size of USD 254.34 million in 2024.
• Peru Luxury Jewelry market is projected to witness growth at a CAGR of 2.6% during the forecast period, with a market size of USD 234.33 million in 2024.
• Chile Luxury Jewelry market is projected to witness growth at a CAGR of 2.7% during the forecast period, with a market size of USD 205.76 million in 2024.
• The Rest of Latin America's Luxury Jewelry market is projected to witness growth at a CAGR of 1.5% during the forecast period, with a market size of USD 460.09 million in 2024.

Middle East and Africa Luxury Jewelry Market

According to Cognitive Market Research, the global Luxury Jewelry market size was estimated at USD 57154.2 Million, out of which the Middle East and Africa held the major market share of around 2% of the global revenue with a market size of USD 1143.08 million in 2024 and will grow at a compound annual growth rate (CAGR) of 2.7% from 2024 to 2031..

• The GCC Countries Luxury Jewelry market is projected to witness growth at a CAGR of 3.5% during the forecast period, with a market size of USD 489.24 million in 2024. Luxury Jewelry sales flourish due to the luxury brand loyalty.
• The Egypt Luxury Jewelry market is projected to witness growth at a CAGR of 3.0% during the forecast period, with a market size of USD 120.02 million in 2024.
• The South Africa Luxury Jewelry market is projected to witness growth at a CAGR of 3.7% during the forecast period, with a market size of USD 180.61 million in 2024. Luxury Jewelry sales flourished in South Africa due to global travel growth.
• The Turkey Luxury Jewelry market is projected to witness growth at a CAGR of 2.2% during the forecast period, with a market size of USD 98.31 million in 2024.
• The Nigeria Luxury Jewelry market is projected to witness growth at a CAGR of 1.8% during the forecast period, with a market size of USD 120.02 million in 2024.
• The Rest of the MEA Luxury Jewelry market is projected to witness growth at a CAGR of 1.7% during the forecast period, with a market size of USD 134.88 million in 2024.

Luxury Jewelry Market Analysis

Luxury Jewelry Market Raw Material Segment Analysis

According to Cognitive Market Research, Gold are likely to dominate the Luxury Jewelry Market over the forecast period. Gold stays a dominant pressure inside the growing luxurious jewelry marketplace, driven by its undying enchantment and status as an image of wealth and status. The rising call for gold rings, specifically in rising markets like China and India, is contributing to this boom. Additionally, gold's investment price and cultural significance make it a preferred desire for excessive-give-up, personalized luxury pieces. .

The Platinum is the fastest-growing segment in the Luxury Jewelry Market. Platinum is gaining prominence inside the luxury jewelry marketplace because of its rarity, sturdiness, and elegant appearance. Known for its energy and resistance to tarnish, platinum is desired for high-stop, bespoke pieces, especially in engagement rings and great jewelry. Growing client demand for precise, lengthy-lasting materials is riding its reputation, mainly in markets valuing exclusivity and craftsmanship.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Luxury Jewelry Industry. Request a Free Sample PDF!

Luxury Jewelry Market Product Segment Analysis

According to Cognitive Market Research, the Necklaces segment holds the largest share of the market. Necklaces are experiencing developing demand in the luxurious jewelry marketplace, driven by patron preference for formidable, assertion portions and personalized designs. High-give-up brands are increasing their collections to encompass quite a few complex and precise patterns, catering to diverse tastes. Additionally, the fashion toward layering necklaces and incorporating rare gems has further fueled the hobby, making necklaces a key increase phase in luxury jewelry

In the Luxury Jewelry Market, the Ring has been expanding at a rapid pace. Rings are a substantial increase section inside the luxury earrings market, driven by means of calls for engagement, wedding ceremonies, and announcement earrings. Consumers are more and more looking for customized, particular designs offering top-rate materials like diamonds, platinum, and rare gemstones. The fashion in the direction of customization and symbolism in jewelry, mixed with growing disposable earnings, has contributed to their growing recognition inside the high-give-up earrings region.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Luxury Jewelry Application Segment Analysis

Luxury Jewelry Market Application Segment Analysis

According to Cognitive Market Research, Women segment holds the largest market share. Women continue to pressure growth in the luxury jewelry market, with a growing call for personalized, stylish, and declaration portions. Rising disposable earnings, in particular amongst operating professionals, have fueled spending on excessive-give-up jewelry as both a style accent and a symbol of achievement. Women also are embracing self-purchasing tendencies, similarly boosting demand for luxurious gadgets like rings, necklaces, and bracelets.

In the Luxury Jewelry market, the rapidly growing sector is the Men. Men are becoming a developing segment within the luxury ring marketplace, with a growing demand for classy announcement pieces like watches, rings, and bracelets. Shifting cultural norms and an extra awareness of non-public fashion have contributed to this upward thrust. High-cease brands are responding by expanding men's collections, imparting extra ambitious and refined designs that enchantment to fashionable male customers

• Women
• Men
• Children

Luxury Jewelry Distribution Channel Segment Analysis

Luxury Jewelry Market Distribution Channel Segment Analysis

According to Cognitive Market Research, the Online segment dominates the market. The online luxury jewelry market is increasing hastily, driven by means of the convenience of e-trade and the growing preference for digital buying reviews. High-give-up brands are improving their online presence with digital striven, personalized offerings, and distinct collections. This shift lets clients browse and buy luxury jewelry from the comfort of their homes, making online structures a key increase driver inside the marketplace.

Offline is projected to be the fastest-growing segment in the Luxury Jewelry market. The offline luxury jewelry market remains robust, driven by using customers' choice for customized, in-save studies and the ability to take a look at excessive-stop pieces bodily. Luxury shops are enhancing their brick-and-mortar stores with specific activities, tailored consultations, and immersive purchasing environments. This consciousness on growing memorable luxury reports maintains to attract discerning customers, making sure of consistent increase in offline sales along the upward push of e-trade.

• Online
• Offline

Author's Detail

Sneha Mali

Research Analyst at Cognitive Market Research

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I am a research analyst working in various domains including the Consumer Goods domain, and my primary responsibility is to conduct thorough research on various subjects and provide valuable insights to support client requirements. I have knowledge of research methodologies, and data mining which enables me to analyze large data sets, draw meaningful conclusions, and communicate them effectively. I stay up-to-date with the latest research trends, methodologies, and technologies to ensure that my research is accurate, relevant, and impactful.

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