Silver Jewellery Market Report 2024 (Global Edition)

Global Silver Jewellery Market Report 2024 Market Size Split by Type (Rings, Necklace, Earring, Bracelets, Pendants, Charms, Brooches, Cufflinks, Other), by Application (Men, Women, Unisex), by Distri...

Silver Jewellery Market Report Description

We have various report editions of Silver Jewellery Market, hence please contact our sales team and author directly to obtain/purchase a desired Edition eg, Global Edition, Regional Edition, Country Specific Report Edition, Company Profiles, Forecast Edition, etc. Request for your Free Sample PDF/Online Access.

Competitive Landscape of the Silver Jewellery Market

Key players deploy strategic initiatives such as product innovations, partnerships, and mergers. Companies prioritize R&D to introduce cutting-edge reagents, ensuring a competitive edge. Robust distribution networks and adherence to quality standards amplify market presence, fostering an environment where agility and innovation define industry leaders.

 

Top Companies Market Share in Silver Jewellery Industry: (In no particular order of Rank)

• Chopard
• Bvlgari
• Tiffany & Co
• Mikimoto
• Buccellati
• Piaget
• Harry Winston
• Cartier
• Van Cleef & Arpels
• Graff
• Confidential Data
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• Data Hidden

*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 Silver Jewellery Market

Which Region will dominate the Silver Jewellery Market in 2024?

According to Cognitive Market Research, North America dominated the market in 2024 and accounted for around 40% of the global revenue due to the region's shifting consumer preferences towards affordable luxury, where silver offers a stylish yet economical option. Additionally, the growing trend of self-expression through accessories fuels the demand for customizable silver pieces. Moreover, the sustainable appeal of silver aligns with environmentally conscious consumer attitudes. Furthermore, the rise of online retail channels provides convenient access to a wide array of silver jewelry options, boosting the regional market growth.

Which Region is Expanding at the Fastest CAGR?

Europe is the fastest-growing region due to its affordability relative to other precious metals, coupled with increasing consumer awareness of sustainable and ethically sourced materials, further drive market growth. The rich cultural heritage and tradition associated with silver jewelry in many European countries also contribute to its popularity and steady market demand.

The current report Scope analyzes Silver Jewellery 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 Silver Jewellery Market

According to Cognitive Market Research, the global silver jewelry market size was estimated at USD XX Million, out of which North America held the major market of more than 40% of the global revenue with market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 19.4% from 2024 to 2031 due to region's evolving fashion trends favoring silver accessories, consumer preference for affordable luxury, growing online retail presence, and the metal's versatility in catering to diverse aesthetic preferences. According to Cognitive Market Research, the market is driven by a strong economy, shifting fashion trends, and a preference for affordable luxury. The popularity of silver-plated jewelry further bolsters this market, offering stylish options at a fraction of the cost of solid silver pieces. In conclusion, North America's silver jewelry market is driven by extensive design innovation and creativity. 

Country Analysis

• According to Cognitive Market Research, the US had a major share in the silver jewelry market, with a market size of USD XX million in 2024, and is projected to grow at a CAGR of 19.2% during the forecast period. The nation's rising demand for personalized and unique jewelry pieces
• The Canadian silver jewelry market had a market share of USD XX million in 2024 and is projected to grow at a CAGR of 20.2% during the forecast period. The growth of e-commerce platforms drives Canada's Silver Jewellery market.
• The Mexican silver jewelry market is projected to grow at a CAGR of 19.9% during the forecast period, with a market size of USD XX million in 2024.

 

Europe Silver Jewellery Market

According to Cognitive Market Research, the global silver jewelry market size was estimated at USD XX Million, out of which Europe held the major market of more than 30% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 19.7% from 2024 to 2031 due to blend of tradition and contemporary fashion trends, with consumers valuing silver's affordability, durability, and versatility. Increasing disposable income, evolving style preferences, and growing sustainability concerns contribute to its steady growth. According to Cognitive Market Research, the market is driven by fashion trends, cultural influences, and consumer preferences for versatile and affordable accessories. The popularity of silver earrings reflects its timeless appeal and ability to complement various styles and occasions. In conclusion, increasing awareness and preference for sustainable & eco-friendly materials expands the region's market.

• The United Kingdom's silver jewelry market had a market share of USD XX million in 2024 and is projected to grow at a CAGR of 12.5% during the forecast period. This is due to the region’s preference for sustainable and eco-friendly materials.
• The French silver jewelry market is projected to grow at a CAGR of 18.9% during the forecast period, with a market size of USD XX million in 2024.
• According to Cognitive Market Research, the size of the silver jewelry market was valued at USD XX million in 2024 and is projected to grow at a CAGR of 19.9% during the forecast period. In Germany, sales of silver jewelry surged due to the presence of major market players. 
• The Italian silver jewelry market is projected to grow at a CAGR of 19.1% during the forecast period, with a market size of USD XX million in 2024.
• The Russian silver jewelry market is projected to grow at a CAGR of 18.7% during the forecast period, with a market size of USD XX million in 2024.
• The Spanish silver jewelry market is projected to grow at a CAGR of 18.8% during the forecast period, with a market size of USD XX million in 2024.
• The Luxembourg silver jewelry market is projected to grow at a CAGR of 19.8% during the forecast period, with a market size of USD XX million in 2024.
• The Portuguese silver jewelry market is projected to grow at a CAGR of 19.5% during the forecast period, with a market size of USD XX million in 2024.
• The Greece silver jewelry market is projected to grow at a CAGR of 20.0% during the forecast period, with a market size of USD XX million in 2024.
• The Rest of Europe's silver jewelry market is projected to grow at a CAGR of 18.4% during the forecast period, with a market size of USD XX million in 2024.

Asia Pacific Silver Jewellery Market

According to Cognitive Market Research, the global silver jewelry market size was estimated at USD XX Million, out of which Asia Pacific held the market of around 23% of the global revenue with market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 23.20% from 2024 to 2031 due to growing disposable incomes, cultural affinity for silver adornments, and increasing adoption of western fashion trends, all contributing to heightened demand for stylish and affordable accessories. According to Cognitive Market Research, the market is driven by cultural significance and evolving fashion trends. The demand for charms is fueled by their versatility, personalized appeal, and ability to reflect individuality in accessory choices. In conclusion, the growth of e-commerce platforms providing a convenient and diverse marketplace for silver jewelry will drive the region's silver jewelry market.

• According to Cognitive Market Research, the size of the Chinese silver jewelry market was valued at USD XX million in 2024 and is projected to grow at a CAGR of 22.7% during the forecast period. This is due to the nation's increased spending on premium jewelry.
• The Japan silver jewelry market is projected to grow at a CAGR of 21.7% during the forecast period, with a market size of USD XX million in 2024. This is due to the country's expansion of distribution channels, including convenience stores and online platforms.
• The Indian silver jewelry market had a market share of USD XX million in 2024 and is projected to grow at a CAGR of 25.0% during the forecast period. 
• The South Korean silver jewelry market is projected to grow at a CAGR of 22.3% during the forecast period, with a market size of USD XX million in 2024.
• The Australian silver jewelry market is projected to grow at a CAGR of 22.9% during the forecast period, with a market size of USD XX million in 2024.
• The South East Asia silver jewellery market is projected to grow at a CAGR of 24.2% during the forecast period, with a market size of USD XX million in 2024.
• The Rest of Asia Pacific silver jewelry market is projected to grow at a CAGR of 23.0% during the forecast period with a market size of USD XX million in 2024.

 

South America Silver Jewellery Market

According to Cognitive Market Research, the global silver jewelry market size was estimated at USD XX Million, out of which Latin America market has more than 5% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 20.6% from 2024 to 2031 due to region's rising disposable incomes and growing fashion consciousness among consumers contribute to increased demand for silver jewelry as a stylish yet affordable accessory. According to Cognitive Market Research, women's growing purchasing power and their penchant for accessorizing driving market growth. Influenced by cultural traditions and evolving fashion trends, women demand silver jewelry, seeking both style and cultural expression in their adornments. In conclusion, the region's silver jewelry market is driven by the rising utilization of cutting-edge technology for efficient and precise designs.

• According to Cognitive Market Research, the size of the Brazilian silver jewelry market was valued at USD XX million in 2024 and is projected to grow at a CAGR of 21.2% during the forecast period. Silver Jewellery flourished in Brazil due to the introduction of new designs.
• The Argentina silver jewelry market had a market share of USD XX million in 2024 and is projected to grow at a CAGR of 21.5% during the forecast period. The growing popularity of silver jewelry as a versatile and affordable accessory drives market growth. 
• The Colombia silver jewelry market is projected to grow at a CAGR of 20.4% during the forecast period, with a market size of USD XX million in 2024.
• The Peru silver jewelry market is projected to grow at a CAGR of 20.8% during the forecast period, with a market size of USD XX million in 2024.
• The Chile silver jewelry market is projected to grow at a CAGR of 20.9% during the forecast period, with a market size of USD XX million in 2024.
• The Rest of Latin America silver jewellery market is projected to grow at a CAGR of 19.7% during the forecast period with a market size of USD XX million in 2024.

Middle East and Africa Silver Jewellery Market

According to Cognitive Market Research, the global silver jewelry market size was estimated at USD XX Million, out of which Middle East and Africa held the major market of around 2% of the global revenue with market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 20.9% from 2024 to 2031 due to region's cultural significance, where silver holds traditional value in adornment. Additionally, rising disposable incomes, changing fashion trends, and the affordability of silver contribute to the market's growth in the region. According to Cognitive Market Research, children are buoyed by cultural traditions, gifting practices, and a growing emphasis on children's fashion. Increasing disposable income and a desire for durable yet stylish accessories further propel the demand for silver jewelry among younger demographics. In conclusion, increasing awareness and preference for sustainable and eco-friendly materials, with silver being recyclable and ethically sourced, drives the region's market.

• According to Cognitive Market Research, the GCC Countries' silver jewelry market size was valued at USD XX million in 2024 and is projected to grow at a CAGR of 21.7% during the forecast period. Silver Jewellery sales flourished in the GCC Countries due to the region's innovations in jewelry-making techniques.
• The Egyptian silver jewelry market is projected to grow at a CAGR of 21.2% during the forecast period, with a market size of USD XX million in 2024.
• The South African silver jewelry market is projected to grow at a CAGR of 21.9% during the forecast period, with a market size of USD XX million in 2024. Silver Jewellery flourished in South Africa due to the region's increased demand for the latest designs and higher-quality finishes.
• The Turkish silver jewelry market is projected to grow at a CAGR of 20.4% during the forecast period, with a market size of USD XX million in 2024.
• The Nigerian silver jewelry market is projected to grow at a CAGR of 20.0% during the forecast period, with a market size of USD XX million in 2024.
• The Rest of MEA silver jewellery market is projected to grow at a CAGR of 19.9% during the forecast period with a market size of USD XX million in 2024.

 

Silver Jewellery Market Analysis

Silver Jewellery Type Segment Analysis

According to Cognitive Market Research, rings held the major market share over the forecast period due to the cultural significance of rings as symbols of commitment or personal style contributing to demand. The market benefits from silver's affordability compared to other precious metals, making it accessible to a broad consumer seeking quality and aesthetic appeal in their jewelry choices. 

Pendants are the fastest-growing category over the forecast period. Fashion trends heavily influence consumer preferences, with pendants as versatile accessories adaptable to various styles. Additionally, affordability compared to other precious metals makes silver pendants accessible to a broad demographic. Rising demand for personalized jewelry and cultural significance associated with pendants further propel market expansion, fostering innovation and diversity in design offerings. 

• Rings
• Necklace
• Earring
• Bracelets
• Pendants
• Charms
• Brooches
• Cufflinks
• Other

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 Silver Jewellery Industry. Request a Free Sample PDF!

Silver Jewellery Application Segment Analysis

According to Cognitive Market Research, unisex holds a prominent market share due to shifting societal norms towards gender-neutral fashion, fostering inclusivity and versatility. Increasing demand for jewelry transcending traditional gender boundaries drives manufacturers and designers to create unisex silver pieces. This trend expands market reach by appealing to a wider demographic and aligns with the contemporary values of individual expression and style fluidity. 

Women is the fastest-growing category over the forecast period due to evolving fashion trends emphasizing silver as a versatile and affordable accessory, the appeal of customization allowing for unique designs, and increasing awareness of sustainability, as silver is recyclable. The cultural significance of silver jewelry in ceremonies and everyday wear also contributes to its demand, making it a preferred choice for women globally. 

• Men
• Women
• Unisex

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

Silver Jewellery Distribution Channel Segment Analysis

According to Cognitive Market Research, online hold a prominent market share due to the convenience and accessibility offered by e-commerce platforms. Additionally, the digital landscape provides a vast marketplace for a diverse range of silver jewelry designs, catering to changing consumer preferences. The ability to compare prices, read reviews, and access a wide selection of products contributes to online silver jewelry sales' continued growth and popularity.

Offline is the fastest-growing category over the forecast period due to the personal touch provided by in-store staff, which facilitates trust-building and customer relationships. The tactile nature of silver jewelry enhances its allure in brick-and-mortar stores, fostering impulse buys and repeat visits, thus contributing to the sustained demand for offline retail experiences in this market.

• Online
• Offline

Silver Jewellery Material Segment Analysis

According to Cognitive Market Research, fine silver holds a prominent market share due to increasing demand for luxury and high-quality ornaments. Fine silver's purity, durability, and timeless appeal attract discerning consumers seeking elegant and enduring pieces, fueling growth in the global silver jewelry market.

Coin silver is the fastest-growing category over the forecast period due to increasing demand for coin silver, valued for its purity and historical significance, further drives market growth, particularly among collectors and investors seeking traditional and authentic pieces.

• Sterling Silver
• Fine Silver
• Silver Plated
• Coin Silver

Silver Jewellery Age Group Segment Analysis

According to Cognitive Market Research, adults hold a prominent market share due to shifting fashion trends favoring affordable luxury, increasing disposable income, and the versatility of silver in crafting diverse designs. Additionally, growing consumer preference for sustainable materials and online retail channels further drives market growth.

Children are the fastest-growing category over the forecast period due to increasing parental inclination towards gifting durable and fashionable accessories, coupled with the affordability and safety of silver. Growing awareness of children's fashion trends and cultural ceremonies further drives demand for silver jewelry among younger demographics.

• Children
• Teens
• Adults
• Seniors

Silver Jewellery Price Range Segment Analysis

According to Cognitive Market Research, premium holds a prominent market share due to increasing consumer demand for high-quality craftsmanship, unique designs, and branded luxury pieces. Factors such as rising disposable income, evolving fashion trends, and aspirational lifestyles contribute to the growth of this upscale market segment.

Mid is the fastest-growing category over the forecast period due to affordability and style convergence. Consumers seek quality pieces at reasonable prices, making silver an attractive choice. Fashion trends also influence this segment, with designs catering to mid-range budgets while maintaining aesthetic appeal.

• Low
• Mid
• Premium

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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