Asia Pacific Jewelry Market Size & Outlook, 2023-2030
Asia Pacific jewelry market, 2017-2030 (US$M)
Related Markets
Asia Pacific jewelry market highlights
- The Asia Pacific jewelry market generated a revenue of USD 211,782.0 million in 2023.
- The market is expected to grow at a CAGR of 4.9% from 2024 to 2030.
- In terms of segment, ring was the largest revenue generating product in 2023.
- Necklace is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, India is expected to register the highest CAGR from 2024 to 2030.
Asia Pacific data book summary
| Market revenue in 2023 | USD 211,782.0 million |
| Market revenue in 2030 | USD 296,276.5 million |
| Growth rate | 4.9% (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 |
| Key market players worldwide | Lvmh Moet Hennessy Louis Vuitton SE, Pandora A/S, Chow Tai Fook Jewellery Group Ltd, Compagnie Financiere Richemont SA Class A, Graff, Signet Jewelers Ltd, Malabar Gold and Diamonds |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 60.0% of the global jewelry market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 296,276.5 million by 2030.
Ring was the largest segment with a revenue share of 29.96% in 2023. Horizon Databook has segmented the Asia Pacific jewelry market based on necklace, ring, earring, bracelet covering the revenue growth of each sub-segment from 2017 to 2030.
The demand for lab-grown jewelry products is driving the regional market. According to the Gem & Jewellery Export Promotion Council (GJEPC) data, lab-grown diamonds in India witnessed a tremendous growth of 105% in 2022 as compared to the previous year.
Moreover, Japan is also among the largest luxury jewelry markets in the region. Japanese consumers have shown a high preference for delicate handmade jewelry items. Necklaces made up of a simple silver chain with a pendant of any shape are some of the most common jewelry items preferred by Japanese women. Some of the popular luxury jewelry brands in Japan are Tasaki and Ginza Tanaka.
In Japan, Mokume Gane, a technique that layers metals such as gold and silver, is popular for ring design. These tend to be relatively more expensive because they are handcrafted by professionals. In South Korea, necklaces and bracelets are among the most popular jewelry items. These are often made from germanium, as many people believe the metal imparts good health to the wearer.
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Jewelry Market Scope
Jewelry Market Companies
| Name | Profile | # Employees | HQ | Website |
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Asia Pacific jewelry market size, by country, 2017-2030 (US$M)
Asia Pacific Jewelry Market Outlook Share, 2023 & 2030 (US$M)
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