Latest News- Jewelry Market in India: Gold is expected to lead the Type segment during 2025-2029

The Jewelry Market in India is being driven by Cultural significance of jewelry

The Jewelry Market in India is expected to grow at a CAGR of 5.9% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 25.6 billion. The Indian jewelry market is experiencing substantial growth, fueled primarily by the increasing trend of online sales. E-commerce platforms offer unparalleled convenience and accessibility, enabling a broader consumer base to explore an extensive selection of designs, compare prices, and read customer reviews from their homes. This shift towards digital shopping not only benefits established jewelry retailers but also provides opportunities for emerging designers and artisanal brands to reach a global audience. Furthermore, the integration of advanced technologies, such as virtual reality (VR) and augmented reality (AR), enhances the online shopping experience by allowing customers to visualize jewelry pieces on themselves prior to purchase. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Type
  • Gold
  • Diamond
  • Others
• Distribution Channel
  • Specialist retailers
  • Online
• End-user
  • Women
  • Men
• Product Type
  • Necklaces and chains
  • Earrings
  • Others
• Geography
  • India

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Cultural significance of jewelry
• Rising disposable income
• Technological advancements in jewelry design and manufacturing

However, the market also witnesses some limitations, which are as follows:

• High gold prices
• Complex supply chain in jewelry market in India
• Lack of skilled labor

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Market Scope in Jewelry Market in India Research Report

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Research Analysis Overview

The Indian Jewelry market, a significant contributor to merchandise exports, experiences continuous growth through export promotion. Virtual Buyer-Seller Meets facilitate deals in Gem & Jewellery, including Lab-grown Diamonds, Accessories, Watches, Luggage, and Bags. Consumer spending on Gold and festive occasions like Baisakhi, Karva Chauth, Durga Puja, Gudi Pavda, Akshaya Tritiya, and Indian weddings fuel the exponential trend. As the largest exporter, India caters to B2C enterprises worldwide.

Market Research Overview

The Indian jewelry market, a significant segment of the global apparel, accessories, and luxury goods industry, experienced notable growth in recent years. This expansion can be attributed to various factors, including India's strong merchandise exports and the government's export promotion initiatives. Notably, Virtual Buyer-Seller Meets have played a pivotal role in fostering business connections and increasing exports in the Gem & Jewellery sector. Additionally, the emergence of lab-grown diamonds and internal jewelry shows has further bolstered the industry's growth trajectory. The global textiles, apparel, and luxury goods market, which encompasses jewelry, is expected to grow substantially due to the increasing working women population and their rising disposable income. This demographic trend is boosting consumer spending on apparel, accessories, and luxury goods, including jewelry.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/