Key Insights
Essential data points from our research
The global jewelry market size was valued at USD 340.69 billion in 2022
The jewelry market is expected to expand at a compound annual growth rate (CAGR) of 4.6% from 2023 to 2030
The Asia Pacific region dominates the market with a share of over 60% of global revenue
56% of Gen Z consumers look for sustainability credentials when buying jewelry
Self-purchasing by women has outpaced the bridal market in growth in the US
70% of engagement ring purchases now involve the partner in the selection process
Jewelry manufacturing consumes roughly 50% of the world's annual gold demand
The global lab-grown diamond market size was valued at $22.45 billion in 2022
Silver jewelry fabrication demand reached a record high of 235 million ounces in 2022
Online jewelry sales are expected to capture 21% of the total market by 2025
Pandora's online store traffic reached over 260 million visits in 2022
The return rate for jewelry purchased online is approximately 15%, significantly lower than apparel
Branded jewelry is expected to capture 25-30% of the total jewelry market by 2025
LVMH's Watches & Jewelry business group recorded organic revenue growth of 18% in 2022
Richemont, owner of Cartier, reported jewelry sales of €13.4 billion in 2023
Consumer Behavior & Trends
- 56% of Gen Z consumers look for sustainability credentials when buying jewelry
- Self-purchasing by women has outpaced the bridal market in growth in the US
- 70% of engagement ring purchases now involve the partner in the selection process
- Americans spent a record $6.2 billion on jewelry for Valentine's Day in 2022
- Approximately 35% of consumers are willing to pay more for ethically sourced jewelry
- The average spend on an engagement ring in the US was approximately $5,900 in 2023
- 42% of jewelry consumers prefer customized or personalized pieces
- Jewelry is the second most popular gift category for Mother's Day
- Nearly 30% of US jewelry consumers now consider lab-grown diamonds a viable option
- Gender-neutral jewelry searches on Pinterest increased by 50% year-over-year
- 48% of jewelry purchasers say they research online before buying in-store
- November and December account for approximately 30% of annual jewelry sales
- 65% of men report buying jewelry as a gift for a significant other at least once a year
- Consumers aged 25-34 are the largest demographic for fine jewelry purchases
- 20% of engagement rings purchased in 2022 featured a non-diamond center stone
- Brand loyalty in jewelry is lower than other fashion sectors, with only 12% citing specific brands as a primary driver
- Permanent jewelry (welded bracelets) interest on TikTok garnered over 2 billion views in 2023
- 89% of women agree that jewelry is a way to express their personality
- 14% of consumers have purchased second-hand or vintage jewelry in the past year
- Yellow gold has seen a resurgence, preferred by 35% of consumers for fashion jewelry in 2023
Interpretation
The jewelry market is trading old-school brand worship for a savvy, self-directed sparkle where younger buyers and women shopping for themselves prioritize sustainability and ethical sourcing, partners increasingly co-pick engagement rings, lab-grown stones and personalized pieces gain traction, online research and seasonal demand still drive big-ticket purchases, and yellow gold, vintage finds and TikTok-fueled trends flourish while brand loyalty fades.
E-commerce & Digital
- Online jewelry sales are expected to capture 21% of the total market by 2025
- Pandora's online store traffic reached over 260 million visits in 2022
- The return rate for jewelry purchased online is approximately 15%, significantly lower than apparel
- Signet Jewelers' digital sales comprised roughly 20% of their total sales in FY2023
- Use of Augmented Reality (AR) for 'virtual try-on' increases jewelry conversion rates by up to 94%
- Blue Nile was acquired for $3.6 billion indicating the high value of pure-play e-commerce jewelers
- 80% of luxury jewelry sales are still "digitally influenced" even if bought in-store
- Instagram is cited as the number one social media platform for jewelry brand discovery
- Mobile devices account for nearly 70% of traffic to jewelry retailer websites
- Amazon's jewelry sales are estimated to exceed $1 billion annually
- Direct-to-Consumer (DTC) jewelry brands have seen a 16% growth in customer retention year-over-year
- Etsy jewelry sales surged, with over 10 million buyers purchasing jewelry on the platform in 2022
- Live-stream shopping for jewelry in China accounts for over 10% of total category sales
- 40% of online jewelry shoppers abandon their cart due to unexpected shipping costs
- Brilliant Earth, a digital-first jeweler, reported net sales of $440 million in 2022
- 3D printing in jewelry manufacturing is reducing prototyping time by 80%
- Jewelry brands posting video content on social media see 3x higher engagement than static images
- Chow Tai Fook's smart retail applications contribute to over 5% of their revenue
- Blockchain technology is being used by over 15 major jewelry brands to track diamond provenance
- Search volume for "buy jewelry online" has doubled globally since 2019
Interpretation
The jewelry industry is rapidly transforming into a digitally driven treasure chest: online sales are poised to reach about 21% by 2025, Pandora and other e-tailers pull hundreds of millions of visits while Blue Nile’s $3.6 billion price tag proves the value of pure-play e-commerce, AR try-ons, video and mobile-first Instagram discovery massively boost conversions and engagement, blockchain and 3D printing tighten trust and speed, DTC and legacy retailers alike see meaningful digital revenue and retention gains, yet stubborn frictions like surprise shipping costs that cause 40% of cart abandonments show that polish alone won’t close every sale.
Luxury & Branded Jewelry
- Branded jewelry is expected to capture 25-30% of the total jewelry market by 2025
- LVMH's Watches & Jewelry business group recorded organic revenue growth of 18% in 2022
- Richemont, owner of Cartier, reported jewelry sales of €13.4 billion in 2023
- Tiffany & Co. saw its profit double within two years of acquisition by LVMH
- Cartier is routinely ranked as the most valuable jewelry brand in the world
- The branded fine jewelry sector is growing 3 times faster than the total market
- High jewelry price points start at roughly €50,000 and can reach millions
- Chow Tai Fook is the largest listed jeweler in the world by market capitalization
- Pandora operates over 2,500 concept stores globally
- Harry Winston's 'Pink Legacy' diamond sold for a record $50 million at auction
- Swatch Group's Harry Winston and high jewelry segment accounts for a significant portion of its profit margin
- Bulgari helped drive LVMH's jewelry growth with record-breaking sales in the US
- Signet Jewelers holds nearly 10% of the US jewelry market share
- Van Cleef & Arpels has seen double-digit growth consistently over the last decade
- Brand ambassadors (K-pop stars) increased luxury jewelry social engagement by 400% for brands like Tiffany and Cartier
- Graff Diamonds handles over 60% of the world's yellow diamonds
- Hermès jewelry division has outpaced its leather goods growth in percentage terms in recent quarters
- 85% of luxury jewelry growth is expected to come from Millennials and Gen Z by 2025
- The top 10 luxury jewelry groups capture more than 75% of market profits
- Sotheby's luxury division, including jewelry, reached $2.3 billion in turnover in 2022
Interpretation
Think of the jewelry industry as a glittering winner-take-most club where a handful of powerhouses such as Cartier, LVMH with Bulgari and Tiffany, Richemont, Chow Tai Fook and Pandora are converting millennial and Gen Z desire and 400 percent social spikes from K-pop ambassadors into branded share expected to reach 25 to 30 percent by 2025, driving growth three times faster than the wider market, creating €50,000 and up entry points alongside record auctions and multi million dollar sales, and concentrating profits in the top ten groups while Sotheby's and high-jewelry margins quietly rake in billions.
Market Size & Growth
- The global jewelry market size was valued at USD 340.69 billion in 2022
- The jewelry market is expected to expand at a compound annual growth rate (CAGR) of 4.6% from 2023 to 2030
- The Asia Pacific region dominates the market with a share of over 60% of global revenue
- The US jewelry market was estimated to be worth approximately $61.8 billion in 2023
- India's gems and jewelry sector contributes about 7% to the country's GDP
- The global costume jewelry market size is projected to reach $59.7 billion by 2027
- China constitutes the largest jewelry market in the world by consumption volume
- The men’s jewelry market has been growing consistently with a projected CAGR of 9.2% through 2030
- The global earrings market segment is anticipated to witness the fastest growth rate among product types
- Europe holds the second-largest market share in the global jewelry industry
- The bridal jewelry segment accounts for approximately 25% of the total US jewelry market
- Diamond jewelry accounts for roughly 45% of total global jewelry sales value
- The Italian jewelry industry comprises roughly 7,000 companies
- Sales of fine jewelry are expected to reach roughly 266 billion Euros by 2027
- The United States accounted for 16.7% of the global jewelry export market in 2022
- Turkey is among the top 5 gold jewelry exporters globally
- The global luxury jewelry market specifically is projected to reach $40.19 billion by 2030
- Revenue in the Jewelry segment amounts to US$31.49bn in Japan in 2024
- The South American jewelry market is projected to grow by 3.15% annually through 2026
- Jewelry retailers in Canada generated approximately 3.7 billion Canadian dollars in sales in 2022
Interpretation
Think of the jewelry industry as old world sparkle learning new tricks: valued at about $340.7 billion in 2022 and poised to grow around 4.6% annually through 2030, it is dominated by Asia Pacific’s more than 60% revenue share and China’s consumption volume, while country-level powerhouses add contrasting strengths, with India’s gems and jewelry sector contributing roughly 7% to GDP and the US market at about $61.8 billion and accounting for 16.7% of global exports; niche dynamism ranges from a projected $59.7 billion costume jewelry market to a $40.19 billion luxury segment by 2030, with diamonds still commanding roughly 45% of sales value even as men’s jewelry surges at a 9.2% CAGR and earrings lead product growth, bridal captures about a quarter of US demand, Italy’s roughly 7,000 companies and Turkey’s top-five gold exporter status underline manufacturing clout, and regional threads from Japan’s $31.49 billion revenue to South America’s 3.15% annual growth and Canada’s C$3.7 billion retail sales show a sector mixing tradition with diversified, fast evolving opportunity.
Materials & Sustainability
- Jewelry manufacturing consumes roughly 50% of the world's annual gold demand
- The global lab-grown diamond market size was valued at $22.45 billion in 2022
- Silver jewelry fabrication demand reached a record high of 235 million ounces in 2022
- Roughly 30% of the world's platinum demand comes from the jewelry sector
- Recycled gold accounts for approximately 25-30% of total gold supply globally
- Botswana creates about 20% of the world's total rough diamond supply by value
- The global colored gemstone market is expected to reach $21 billion by 2027
- Lab-grown diamonds cost 30-50% less than natural diamonds of comparable quality
- The pearl jewelry market is growing at a CAGR of 13% driven by freshwater pearl production
- Palladium demand in jewelry has dropped significantly to less than 1% of total demand due to high prices
- 80% of the world's diamonds pass through Antwerp, Belgium, at least once
- The usage of Fairmined gold has increased by over 100% in the last five years among niche jewelers
- Moissanite sales have increased by 20% year-over-year as a diamond alternative
- China is the world's largest consumer of platinum jewelry
- India processes approximately 90% of the world's diamonds by volume
- Production of South Sea pearls accounts for less than 1% of volume but over 25% of value in the pearl market
- The Responsible Jewellery Council (RJC) now has over 1,500 member companies
- Sapphire is the most popular colored gemstone for engagement rings
- Global gold mine production was approximately 3,600 tonnes in 2022
- About 99% of lead glass-filled rubies in the market are treated to enhance clarity
Interpretation
The jewelry industry has become a carefully calibrated glitter economy where half the world's gold is eaten by manufacturing while recycled supply and ethical sourcing climb, lab-grown diamonds and moissanite undercut naturals, hubs like Antwerp, India and Botswana still control the pipeline, and booming silver, colored gems and pearls drive value even as treatments, price swings and shifting demand force the sector to reinvent itself.
References
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