Latin America Jewelry Market Size & Outlook, 2023-2030
Latin America jewelry market, 2017-2030 (US$M)
Related Markets
Latin America jewelry market highlights
- The Latin America jewelry market generated a revenue of USD 7,206.6 million in 2023.
- The market is expected to grow at a CAGR of 1.5% from 2024 to 2030.
- In terms of segment, ring was the largest revenue generating product in 2023.
- Ring is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, Brazil is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 7,206.6 million |
| Market revenue in 2030 | USD 8,004.9 million |
| Growth rate | 1.5% (CAGR from 2023 to 2030) |
| Largest segment | Ring |
| Fastest growing segment | Ring |
| 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, Latin America region accounted for 2.0% 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 38.83% in 2023. Horizon Databook has segmented the Latin America jewelry market based on necklace, ring, earring, bracelet covering the revenue growth of each sub-segment from 2017 to 2030.
The Latin America market is expected to account for a significant revenue share in the global market by 2030. The growing middle-class population in emerging Latin American countries such as Brazil and Mexico, coupled with the growing popularity of local and multinational brands in the region, is expected to drive the jewelry market in the region.
In addition, jewelry sales in branded stores is increasing owing to the exclusive designs and collections offered at these stores. Wearing jewelry and ornaments is a common practice for women in countries such as Brazil and Argentina. Several traditional practices for occasions further drive the demand for jewelry.
For instance, a customary gift for women on their first communion is a silver ring or bracelet with their name engraved on it. In addition, gifting gold or silver rings is a popular trend among family members, particularly exchanging rings during engagement and wedding ceremonies. These factors also drive the demand for luxury jewelry in the region.
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Jewelry Market Scope
Jewelry Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America jewelry market size, by country, 2017-2030 (US$M)
Latin America Jewelry Market Outlook Share, 2023 & 2030 (US$M)
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