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% |
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
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.
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
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.
For instance:
| 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
Explore Consumer Product Insights
View Reports
Luxury Fine Jewellery Market
