Global Jewelry Market Size & Outlook, 2023-2030
Global jewelry market, 2017-2030 (US$M)
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Global jewelry market highlights
- The global jewelry market generated a revenue of USD 353,264.5 million in 2023 and is expected to reach USD 482,220.9 million by 2030.
- The market is expected to grow at a CAGR (2024 - 2030) of 4.5% by 2030.
- In terms of segment, ring accounted for a revenue of USD 119,392.4 million in 2023.
- Necklace is the most lucrative product segment registering the fastest growth during the forecast period.
- In terms of region, Asia Pacific was the largest revenue generating market in 2023.
- Country-wise, Brazil is expected to register the highest CAGR from 2024 to 2030.
Global data book summary
| Market revenue in 2023 | USD 353,264.5 million |
| Market revenue in 2030 | USD 482,220.9 million |
| Growth rate | 4.5% (CAGR from 2023 to 2030) |
| Largest segment | Ring |
| Fastest growing segment | Necklace |
| Historical data covered | 2017 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Necklace, Ring, Earring, Bracelet |
Other key industry trends
- In terms of revenue, the North America accounted for 22.4% of the global jewelry market in 2023.
- By country, the India is projected to lead the global market in terms of revenue in 2030.
- By country, Brazil is the fastest growing regional market and is projected to reach USD 3,502.9 million by 2030.
Ring was the largest segment with a revenue share of 33.8% in 2023. Horizon Databook has segmented the Global jewelry market based on necklace, ring, earring, bracelet covering the revenue growth of each sub-segment from 2017 to 2030.
The overall luxury goods industry continues to fuel the growth of the jewelry market, despite challenges concerning varying economic trends. Technological innovation, growing international investment, and supply chain leadership are supporting the rising importance and popularity of luxury goods even in the non-western markets.
China is expected to lead the growth in the luxury goods market, including jewelry, owing to consumers increasingly preferring high-end lifestyles. The boom in the country online luxury retail sector, most notably in lower-tier cities, is also a factor driving this market.
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Jewelry Market Scope
Jewelry Market Companies
| Name | Profile | # Employees | HQ | Website |
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Global jewelry market size, by regions, 2017-2030 (US$M)
Top 10 countries: Jewelry market size, 2023 (US$M)
Global jewelry market share, by product, 2023 & 2030 (%, US$M)
Jewelry market: Opportunity assessment by country
Global jewelry market, by region, 2023 (US$M)
| Product | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 | CAGR |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| North America | 64,461.8 | 66,929.8 | 69,627.7 | 61,053.6 | 77,401.0 | 78,154.9 | 79,166.6 | 81,837.1 | 84,750.9 | 87,952.3 | 91,491.7 | 95,417.5 | 99,804.3 | 104,738.4 | 4.1% |
| Europe | 32,023.5 | 33,321.8 | 34,741.4 | 29,468.7 | 33,658.2 | 35,363.9 | 36,068.3 | 37,318.7 | 38,682.7 | 40,180.8 | 41,836.5 | 43,672.4 | 45,723.2 | 48,029.2 | 4.2% |
| Asia Pacific | 177,092.3 | 186,075.0 | 195,902.1 | 154,564.9 | 187,304.0 | 202,678.2 | 211,782.0 | 220,674.1 | 230,357.3 | 240,971.0 | 252,675.2 | 265,629.2 | 280,070.3 | 296,276.5 | 4.9% |
| Latin America | 6,754.3 | 6,911.4 | 7,115.2 | 5,502.2 | 6,166.4 | 6,643.5 | 7,206.6 | 7,283.5 | 7,369.2 | 7,465.7 | 7,575.3 | 7,699.6 | 7,841.6 | 8,004.9 | 1.5% |
| MEA | 15,908.1 | 16,688.3 | 17,509.4 | 13,940.7 | 16,636.4 | 17,852.3 | 19,041.0 | 19,681.1 | 20,379.7 | 21,147.2 | 21,995.8 | 22,937.0 | 23,988.9 | 25,171.9 | 4.1% |
| Overall | 296,240.0 | 309,926.3 | 324,895.8 | 264,530.1 | 321,166.0 | 340,692.9 | 353,264.5 | 366,794.5 | 381,539.6 | 397,716.9 | 415,574.4 | 435,355.7 | 457,428.3 | 482,220.9 | 4.6% |
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