Latest News- Jewelry Market: Specialist retailers is expected to lead the Distribution Channel segment during 2024-2028

The Jewelry Market is being driven by Increasing demand for jewelry as gifts

The Jewelry Market is expected to grow at a CAGR of 5.45% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 107.9 billion. The jewelry market is experiencing a notable expansion due to the increasing acceptance and demand from men. Fashion trends and the influence of celebrities and influencers have significantly contributed to this trend. High-profile figures and influencers frequently incorporate jewelry into their outfits, creating a ripple effect among the general public. Men's jewelry preferences primarily consist of watches, ear piercings, cufflinks, rings, bracelets, and other similar accessories. This trend not only normalizes jewelry wearing among men but also encourages experimentation with various designs and materials.

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

Distribution Channel
- Specialist retailers
- Online
Material
- Gold
- Diamond
- Others
Product Type
- Rings
- Necklaces & Pendants
- Earrings
- Bracelets
- Watches
- Cufflinks
- Brooches
End-User
- Men
- Women
- Children
Geography
- APAC
  - China
  - India
  - Japan
- North America
  - Canada
  - US
- Europe
  - Germany
  - UK
  - France
  - Italy
- Middle East and Africa
  - Egypt
- South America
  - Brazil
  - Argentina

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

Increasing demand for jewelry as gifts
Growing demand for wedding jewelry
Evolving fashion trends in jewelry collections

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

Increasing availability of counterfeiting jewelry
High barriers to entry
Regulatory challenges associated with import and export of jewelry

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Market Scope in Jewelry Market Research Report

Market Scope
Report Coverage	Details
Page number	202
Base year	2023
Historic period	2018-2022
Forecast period	2024-2028
Growth momentum & CAGR	Accelerate at a CAGR of 5.45%
Market growth 2024-2028	USD 107.9 billion
Market structure	fragmentation
YoY growth 2023-2024(%)	4.98
Key countries	US, Canada, Germany, UK, Italy, France, China, India, Japan, Brazil, Egypt, UAE, Oman, Argentina, KSA, UAE, Brazil, Rest of World (ROW), China, US, India, Hong Kong, Japan, Russian Federation, Turkey, Canada, UK, and Germany
Competitive landscape	Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks

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Research Analysis Overview

The jewelry market encompasses various aspects, including diamond grading reports and gemstone identification, showcasing jewelry craftsmanship with metals alloys. Precious metal prices and jewelry trends are forecasted by influencers, while photography and videography highlight pieces. Packaging, display, security, and authentication ensure authenticity, and counterfeiting and resale platforms provide access. Jewelry charity, donations, heritage, museums, exhibitions, and auctions celebrate its art and history. Design schools and workshops foster creativity, and competitions and awards recognize excellence.

Market Research Overview

The jewelry market is a significant segment of the larger global apparel, accessories, and luxury goods industry. This market encompasses companies involved in the production and distribution of fine jewelry, fashion jewelry, and costume jewelry, as well as those specializing in precious metals and jewelry design. Technavio's market analysis for the textiles, apparel, and luxury goods sector estimates its size based on the consolidated revenues generated by manufacturers and marketers of textiles, apparel, footwear, accessories, and luxury goods, excluding shoe manufacturers. Key growth drivers for this market include the expanding working women population, which is boosting disposable income and consumer spending on jewelry and related items. Additionally, advancements in technology, such as 3D printing, are revolutionizing jewelry manufacturing and design.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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