The global luxury fine jewellery market size is estimated to be valued at US$ 45,700.0 million in 2022 and further grow at 6.5% CAGR from 2022 to 2032. Overall luxury fine jewellery sales are projected to reach a market valuation of ~US$ 85,887.5 million by 2032. The share of the luxury fine jewellery market in its parent market (luxury jewellery market) is around ~30%-35%.
Growing spending on high luxury items or fine jewellery such as gold rings and diamond bracelets coupled with changing fashion trends is a key factor driving the global luxury fine jewellery market forward and the trend is expected to continue during the forecast period.
Luxury fine jewellery refers to the jewellery of the highest level of quality. It includes products like necklaces, rings, bracelets, earrings, pendants, and brochures. They are generally made from highly-sought after precious metals and gemstones, often of a much higher grade.
The rising popularity of luxury fine jewellery across the world, especially among the millennial population, changing fashion trends, and the growing influence of social media are some of the key factors expected to boost luxury fine jewellery sales during the forecast period.
Similarly, growing demand for sustainable jewellery, availability of customized products, and continuous new product launches in the market will create lucrative opportunities for luxury fine jewellery companies during the assessment period.
With companies like Metal Passions offering a service for clients to design their own jewellery online, the growing demand for bespoke commissions echoes the demand for customization across the luxury market. Upcycling is also intimately related to the trends.
With the redesign and usage of ancient stones, upcycling is also showing no signs of slowing down, whether it is a family piece updated for the following generation or one huge piece of jewellery constructed with the stones reused in place of several smaller pieces. For instance, since there is such a high demand for one-of-a-kind creations, Louis Vuitton, which previously only purchased cut gems, has switched to buying uncut stones and working directly with customers to select the final forms.
| Attribute | Key Insights |
|---|---|
| Estimated Luxury Fine Jewellery Market Size 2022 | US$ 45,700.0 million |
| Projected Market Size (2032) | US$ 85,887.5 million |
| Value-based CAGR (2022 to 2032) | ~6.5% |
| Top Players Share in 2021 | ~5%-10% |
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The global luxury fine jewellery market expanded at a CAGR of 4.6% from 2017 to 2021 and reached a total valuation of US$ 43,194.7 million at the end of 2021. However, a CAGR of 6.5% has been predicted by Future Market Insights for the overall luxury fine jewellery industry.
In the coming years, the luxury fine jewellery market is predicted to rise at a rapid pace. The rising demand for a variety of designs is a major driving factor. Other factors, such as the increasing importance and popularity of diamonds and gemstones as well as the development of new products and Precious Pearls, are expected to drive the global market during the forecast period.
Furthermore, key companies' have increased attention to marketing activities and advertising campaigns which is likely to boost the market in the coming years.
In addition, the easy availability of a variety of products through online shopping platforms will create lucrative opportunities for manufacturers of luxury fine jewellery during the forthcoming decade.
However, the high cost of luxury fine jewellery on the other hand is emerging as a key challenge limiting market expansion.
Changing Buying Behavior Due to Digital Transformation to Boost Market
Digital transformation is about efficiency, saving time and money, staying ahead of the competition, and wooing customers. The presence of several online stores, along with review sites, makes it easy for consumers to compare products, prices, designs, and service levels, along with the origin of the product and details of the manufacturer or supplier.
Increasing penetration of the internet and numerous online jewelry businesses has boosted online jewelry sales in countries like India and China, and the trend is expected to continue during the forecast period.
Principal Consultant
Increasing Consumer Spending Fueling Luxury Fine Jewellery Sales in the USA
The USA luxury fine jewellery market is forecast to grow at 4.3% CAGR between 2022 and 2032 owing to the rising spending on fine jewellery, the strong presence of leading luxury fine jewellery manufacturers, and the availability of customized products.
Similarly, the rapid growth of the fashion industry, the growing popularity of luxury fine jewellery among the male population, and extensive branding strategies through social media platforms by companies are expected to propel luxury fine jewellery demand in the country during the assessment period.
Growing Demand for Wedding Jewellery Boosting Market in India
With almost 300 million individuals between the ages of 25 and 29, more than 100 million weddings are predicted to take place in India during the forecast period. Given the Indian tendency for purchasing jewellery at times of celebration, jewellery and related expenditures account for roughly one-third of overall wedding expenses. This is projected to increase the demand for luxury fine jewellery during this time.
The trend of availing loans with gold as collateral has seen a decent rise in recent times. People tend to spend on gold due to the high resale value of gold. The gold possessed by most Indian households is in the form of jewellery, often studded with precious gemstones. With property owners and moneylenders playing the key role of financial lenders in these places, the jewellery sector has developed as an alternative, offering investment opportunities through gold jewellery.
Gold to Remain the Most Preferred Raw Material for Luxury Fine Jewellery
As per FMI, the gold segment leads the global luxury fine jewellery market and it is expected to grow at a robust CAGR of 8.2% during the forecast period. This is attributed to the rising consumer preference for gold luxury jewellery.
With changing fashion trends, the popularity of wearable gold jewellery has soared dramatically. People are showing a keen inclination towards purchasing gold-based fine jewellery to improve their aesthetics.
On the other hand, the platinum segment is expected to increase at the fastest CAGR of ~8.7% over the projected period.
Rings to be the Top-Selling Luxury Fine Jewellery in the Market
Based on product type, the ring segment currently dominates the global market for luxury fine jewelry and the trend is expected to continue during the forecast period. This is attributed to the rising customer preference for luxury fine rings over other types.
There has been an upsurge in couples looking for distinctive engagement rings during the last few years. Similarly, rings have become ideal gifts that people prefer on occasions like engagements, weddings, birthdays, etc. Increasing demand for rings along with a rising number of weddings will therefore continue to boost the global luxury fine jewellery industry during the assessment period.
Individual Jewellery Stores to be Mostly Preferred by Customers
According to Future Market Insights, the individual jewellery segment is expected to grow at a CAGR of 3.5% during the forecast period from 2022 to 2032. This is due to the growing preference of customers towards purchasing luxury fine jewellery through individual jewellery stores.
An individual jewellery store is a type of retail business that focuses on buying and selling jewels and watches. Jewelry stores offer a wide range of services, including designing, manufacturing, remodeling, and repairs. As a result, more and more customers are inclined towards these stores.
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The key tactics employed by participants in the luxury fine jewellery industry are product innovations, designs, and mergers & acquisitions. Further, to enhance their market position, businesses are increasing their marketing and research & development activities as well as broadening their distribution networks.
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| Attribute | Details |
|---|---|
| Estimated Market Value (2022) | US$ 45,700.0 million |
| Projected Market Value (2032) | US$ 85,887.5 million |
| Anticipated Growth Rate (2022-2032) | ~6.5% CAGR |
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2017 to 2021 |
| Market Analysis | US$ Million for Value |
| Key Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Oceania; Middle East and Africa (MEA) |
| Key Countries Covered | The United States, Canada, Brazil, Mexico, Germany, The United Kingdom, France, Spain, Italy, Russia, Benelux, South Africa, Northern Africa GCC Countries, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Australia & New Zealand |
| Key Segments Covered | Raw Material, Product Type, Consumer Orientation, Sales Channel and Region |
| Key Companies Profiled | Guccio Gucci S.p.A.; The Swatch Group Ltd.; Richemont; Tiffany & Co.; GRAFF; Louis Vuitton SE; Signet Jewelers Limited; Chopard International SA; MIKIMOTO; Pandora Jewelry, LLC; Chopard International SA; Others |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Drivers, Restraints, Opportunities and Threats Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
The market was valued at US$ 45,700.0 million in 2022.
The market is predicted to capture a CAGR of 6.5% through 2032.
The market expanded at a CAGR of 4.6% between 2017 and 2021.
Changing buying behavior due to digital transformation to boost the market.
The global market size is to reach US$ 85,887.5 million by 2032.
1. Executive Summary | Luxury Fine jewellery Market
1.1. Global Market Outlook
1.2. Summary of Key Findings
1.3. Summary of Key statistics
1.4. FMI Analysis and Recommendations
2. Market Overview
2.1. Market Taxonomy
2.2. Market Definition
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.1.1. Sustainability is Gaining Dominance in Innovation
3.1.2. Incorporation of Green Marketing Strategy
3.1.3. Rise in Mergers and Acquisitions Activity
3.1.4. Growing Demand for Premium Brands
3.1.5. Partnerships Among Key Players
3.1.6. Others
3.2. Product Innovation Trends
3.2.1. Manufacturers Increasingly Spending on R&D and Stepping Up Eco-friendly Products
3.2.2. Growing Consumer Interest in Multifunctional Products
3.2.3. Prominent Players are now Diversifying into Other Profitable Segments
3.3. Future Prospects of Industry
3.3.1. Factors Fuelling Growth
3.3.2. Influx of Brands
3.3.3. Innovative Distribution & Marketing Strategies
4. Global Demand Analysis 2017 to 2021 and Forecast, 2022 to 2032
4.1. Historical Volume (Units) Analysis, 2017 to 2021
4.2. Current and Future Volume (Units) Projections, 2022 to 2032
4.3. Y-o-Y Growth Trend Analysis
5. Global - Pricing Analysis
5.1. Regional Pricing Analysis By Raw Material
5.2. Pricing Break-up
5.2.1. Manufacturer Level Pricing
5.2.2. Distributor Level Pricing
5.3. Average Pricing Analysis Benchmark
6. Global Demand (in Value or in US$ million) Analysis 2017 to 2021 and Forecast, 2022 to 2032
6.1. Historical Value (US$ million) Analysis, 2017 to 2021
6.2. Current and Future Value (US$ million) Projections, 2022 to 2032
6.2.1. Y-o-Y Growth Trend Analysis
6.2.2. Absolute $ Opportunity Analysis
7. Market Background
7.1. Macro-Economic Factors
7.1.1. Global GDP Growth Outlook
7.1.2. Urbanization Overview
7.1.3. Global Population Growth
7.1.4. Per Capital Expenditure
7.1.5. Global e-Commerce Industry Outlook
7.1.6. Global Per-Capital Disposal Expenditure Outlook
7.1.7. Impact of Online Sales
7.1.8. Global Consumer Spending Outlook
7.1.9. Consumer Buying Behaviour Analysis
7.2. Forecast Factors - Relevance & Impact
7.2.1. Top Companies Historical Growth
7.2.2. Global Industry Production Outlook
7.2.3. Manufacturing Sector Gross Value Added
7.2.4. Global Retail Sales Outlook
7.2.5. Global Urbanization Growth Impact
7.2.6. Worldwide Internet User Statistics
7.2.7. Overall Expenditure on Eco-friendly Products
7.2.8. Population Growth Statistics
7.2.9. Global Industry Assessment
7.3. Industry Value and Supply Chain Analysis
7.4. Market Dynamics
7.4.1. Drivers
7.4.2. Restraints
7.4.3. Opportunity Analysis
7.5. PESTLE Analysis of Market
7.6. Investment Feasibility Matrix
7.7. Porter’s Five Force
8. Global Analysis 2017 to 2021 and Forecast 2022 to 2032, by Raw Material
8.1. Introduction / Key Findings
8.2. Historical Market Size (US$ million) Analysis By Raw Material, 2017 to 2021
8.3. Current and Future Market Size (US$ million) Analysis and Forecast By Raw Material, 2022 to 2032
8.3.1. Gold
8.3.2. Platinum
8.3.3. Diamond
8.3.4. Precious Pearls
8.3.5. Gemstones
8.3.6. Others
8.4. Market Attractiveness Analysis By Raw Material
9. Global Analysis 2017 to 2021 and Forecast 2022 to 2032, by Product Type
9.1. Introduction / Key Findings
9.2. Historical Market Size (US$ million) Analysis By Product Type, 2017 to 2021
9.3. Current and Future Market Size (US$ million) Analysis and Forecast By Product Type, 2022 to 2032
9.3.1. Necklaces
9.3.2. Ring
9.3.3. Earrings
9.3.4. Bracelets
9.3.5. Pendants
9.3.6. Anklets
9.3.7. Broches
9.3.8. Others
9.4. Market Attractiveness Analysis By Product Type
10. Global Analysis 2017 to 2021 and Forecast 2022 to 2032, by Consumer Orientation
10.1. Introduction / Key Findings
10.2. Historical Market Size (US$ million) Analysis By Consumer Orientation, 2017 to 2021
10.3. Current and Future Market Size (US$ million) Analysis and Forecast By Consumer Orientation, 2022 to 2032
10.3.1. Men
10.3.2. Women
10.3.3. Children
10.4. Market Attractiveness Analysis By Consumer Orientation
11. Global Analysis 2017 to 2021 and Forecast 2022 to 2032, by Sales Channel
11.1. Introduction / Key Findings
11.2. Historical Market Size (US$ million) Analysis By Sales Channel, 2017 to 2021
11.3. Current and Future Market Size (US$ million) Analysis and Forecast By Sales Channel, 2022 to 2032
11.3.1. Individual Jewellery Stores
11.3.2. Specialist Stores
11.3.3. Online Retailers
11.3.4. Other Sales Channel
11.4. Market Attractiveness Analysis By Sales Channel
12. Global Analysis 2017 to 2021 and Forecast 2022 to 2032, by Region
12.1. Introduction
12.2. Historical Market Size (US$ million) Analysis By Region, 2017 to 2021
12.3. Current Market Size (US$ million) Analysis and Forecast By Region, 2022 to 2032
12.3.1. North America
12.3.2. Latin America
12.3.3. Europe
12.3.4. East Asia
12.3.5. South Asia
12.3.6. Oceania
12.3.7. Middle East and Africa (MEA)
12.4. Market Attractiveness Analysis By Region
13. North America Analysis 2017 to 2021 and Forecast 2022 to 2032
13.1. Introduction
13.2. Pricing Analysis
13.3. Historical Market Size (US$ million) Trend Analysis By Market Taxonomy, 2017 to 2021
13.4. Market Size (US$ million) Forecast By Market Taxonomy, 2022 to 2032
13.4.1. By Country
13.4.1.1. The USA
13.4.1.2. Canada
13.4.2. By Raw Material
13.4.3. By Product Type
13.4.4. By Consumer Orientation
13.4.5. By Sales Channel
13.5. Market Attractiveness Analysis
13.5.1. By Country
13.5.2. By Raw Material
13.5.3. By Product Type
13.5.4. By Consumer Orientation
13.5.5. By Sales Channel
14. Latin America Analysis 2017 to 2021 and Forecast 2022 to 2032
14.1. Introduction
14.2. Pricing Analysis
14.3. Historical Market Size (US$ million) Trend Analysis By Market Taxonomy, 2017 to 2021
14.4. Market Size (US$ million) Forecast By Market Taxonomy, 2022 to 2032
14.4.1. By Country
14.4.1.1. Brazil
14.4.1.2. Mexico
14.4.1.3. Rest of Latin America
14.4.2. By Raw Material
14.4.3. By Product Type
14.4.4. By Consumer Orientation
14.4.5. By Sales Channel
14.5. Market Attractiveness Analysis
14.5.1. By Country
14.5.2. By Raw Material
14.5.3. By Product Type
14.5.4. By Consumer Orientation
14.5.5. By Sales Channel
15. Europe Analysis 2017 to 2021 and Forecast 2022 to 2032
15.1. Introduction
15.2. Pricing Analysis
15.3. Historical Market Size (US$ million) Trend Analysis By Market Taxonomy, 2017 to 2021
15.4. Market Size (US$ million) Forecast By Market Taxonomy, 2022 to 2032
15.4.1. By Country
15.4.1.1. The United Kingdom
15.4.1.2. Germany
15.4.1.3. Italy
15.4.1.4. Spain
15.4.1.5. France
15.4.1.6. Russia
15.4.1.7. Rest of Europe
15.4.2. By Raw Material
15.4.3. By Product Type
15.4.4. By Consumer Orientation
15.4.5. By Sales Channel
15.5. Market Attractiveness Analysis
15.5.1. By Country
15.5.2. By Raw Material
15.5.3. By Product Type
15.5.4. By Consumer Orientation
15.5.5. By Sales Channel
16. East Asia Analysis 2017 to 2021 and Forecast 2022 to 2032
16.1. Introduction
16.2. Pricing Analysis
16.3. Historical Market Size (US$ million) Trend Analysis By Market Taxonomy, 2017 to 2021
16.4. Market Size (US$ million) Forecast By Market Taxonomy, 2022 to 2032
16.4.1. By Country
16.4.1.1. China
16.4.1.2. Japan
16.4.1.3. South Korea
16.4.2. By Raw Material
16.4.3. By Product Type
16.4.4. By Consumer Orientation
16.4.5. By Sales Channel
16.5. Market Attractiveness Analysis
16.5.1. By Country
16.5.2. By Raw Material
16.5.3. By Product Type
16.5.4. By Consumer Orientation
16.5.5. By Sales Channel
17. South Asia Analysis 2017 to 2021 and Forecast 2022 to 2032
17.1. Introduction
17.2. Pricing Analysis
17.3. Historical Market Size (US$ million) Trend Analysis By Market Taxonomy, 2017 to 2021
17.4. Market Size (US$ million) Forecast By Market Taxonomy, 2022 to 2032
17.4.1. By Country
17.4.1.1. India
17.4.1.2. Thailand
17.4.1.3. Malaysia
17.4.1.4. Indonesia
17.4.1.5. Rest of South Asi
17.4.2. By Raw Material
17.4.3. By Product Type
17.4.4. By Consumer Orientation
17.4.5. By Sales Channel
17.5. Market Attractiveness Analysis
17.5.1. By Country
17.5.2. By Raw Material
17.5.3. By Product Type
17.5.4. By Consumer Orientation
17.5.5. By Sales Channel
18. Oceania Analysis 2017 to 2021 and Forecast 2022 to 2032
18.1. Introduction
18.2. Pricing Analysis
18.3. Historical Market Size (US$ million) Trend Analysis By Market Taxonomy, 2017 to 2021
18.4. Market Size (US$ million) Forecast By Market Taxonomy, 2022 to 2032
18.4.1. By Country
18.4.1.1. Australia
18.4.1.2. New Zealand
18.4.2. By Raw Material
18.4.3. By Product Type
18.4.4. By Consumer Orientation
18.4.5. By Sales Channel
18.5. Market Attractiveness Analysis
18.5.1. By Country
18.5.2. By Raw Material
18.5.3. By Product Type
18.5.4. By Consumer Orientation
18.5.5. By Sales Channel
19. MEA Analysis 2017 to 2021 and Forecast 2022 to 2032
19.1. Introduction
19.2. Pricing Analysis
19.3. Historical Market Size (US$ million) Trend Analysis By Market Taxonomy, 2017 to 2021
19.4. Market Size (US$ million) Forecast By Market Taxonomy, 2022 to 2032
19.4.1. By Country
19.4.1.1. GCC Countries
19.4.1.2. South Africa
19.4.1.3. Rest of MEA
19.4.2. By Raw Material
19.4.3. By Product Type
19.4.4. By Consumer Orientation
19.4.5. By Sales Channel
19.5. Market Attractiveness Analysis
19.5.1. By Country
19.5.2. By Raw Material
19.5.3. By Product Type
19.5.4. By Consumer Orientation
19.5.5. By Sales Channel
20. Market Structure Analysis
20.1. Analysis by Tier of Companies
20.2. Market Concentration
20.3. Market Share Analysis of Top Players
20.4. Market Presence Analysis
20.4.1. By Regional footprint of Players
20.4.2. Product foot print by Players
20.4.3. Channel Foot Print by Players
21. Competition Analysis
21.1. Competition Dashboard
21.2. Pricing Analysis by Competition
21.3. Competition Benchmarking
21.4. Competition Deep Dive
21.4.1. Guccio Gucci S.p.A.
21.4.2. Overview
21.4.2.1. Product Portfolio
21.4.2.2. Profitability by Market Segments (Raw Material/Product Type/ Consumer Orientation/Sales Channel/Region )
21.4.2.3. Distribution Footprint
21.4.2.4. Strategy Overview
21.4.3. The Swatch Group Ltd.
21.4.4. Richemont
21.4.5. Tiffany & Co.
21.4.6. GRAFF
21.4.7. Louis Vuitton SE
21.4.8. Signet Jewelers Limited
21.4.9. Chopard International SA
21.4.10. MIKIMOTO
21.4.11. Pandora Jewelry, LLC
21.4.12. Chopard International SA
21.4.13. Other Key Manufacturers (As per requirement)
22. Assumptions and Acronyms Used
23. Research Methodology
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Luxury Fine Jewellery Market
