Analyst Speak: 

“The Global Luxury Jewelry Market is expected to reach US$ 76,431.7 Mn by 2026 owing to increasing popularity of jewelry among the women”.

The global luxury jewelry market is expected to reach US$ 76,431.7 Mn by 2026. Luxury jewelry refers to a series of jewelry made of precious metals, diamonds, etc. including Headwear, Necklace, Ring, Earring, Bracelet, etc. The global luxury jewelry market is majorly driven by women but the men are also becoming new target group for the luxury jewelry market. Integration of jewelry with other fashion items is expected to attract the men. Women are drawn towards jewelry they believed that wearing jewelry enhances their external beauty, and makes them more appealing. Gold is mostly preferred jewelry material due to its affordability by all classes. Diamond is mostly preferred by the high society people.

However, high costs of the products are hampering the growth of global luxury jewelry market.

Global luxury jewelry market is segmented on the basis of product type, end user, and region.

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Rings Dominate the Global Luxury Jewelry Market

Based on the product type, global luxury jewelry market is segmented into headwear, necklace, rings, earrings, bracelets, and others. Rings dominated the global luxury jewelry market owing to its popularity among both the men and women. Rings are used during the marriage proposal by the men for their women. Apart from that rings are majorly preferred over other jewelry because it can be worn by both the genders. Additionally, rings are comparatively cost effective when compared to other jewelry. 

North America Leads the Global Luxury Jewelry Market 

PBI’s global luxury jewelry market report analyses the market in different regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. According to regional analysis, North America dominated the global luxury jewelry market through 2014-2018 and expected to dominate over 2019-2026 owing to high disposable income, commercialization of the products, presence of leading manufacturers, and increased  popularity of jewelry among the females. In Western culture giving a diamond ring to a female by their male partner is considered as a marriage proposal thus increasing the revenue of the ring segment. Jewelry as earring is always worn by women be it gold, diamond, silver, or any other gem stone. Europe luxury jewelry market accounted for a significant share in global luxury jewelry market due to its increase in its increasing popularity among the European population, changing life styles, and rising economies. Additionally, Paris is a fashion hub of the world and models wear attractive jewelry on the ramp, thus commercializing the product and at the same time increasing its popularity among the audience. Asia Pacific luxury jewelry market is expected to grow at a significant rate due to their emerging economies, raising urbanization, presence of key market players especially in Japan. In India jewelry is worn by the females and males during the festive season which helps in the growth of luxury jewelry market in APAC region.

Launch of newer products, and strategic alliances are the key strategies adopted by market players

Global luxury jewelry market further reveals that the key player’s increasingly adopting strategies such as launch of newer products, and long term alliance to improve market revenue share and gaining significant geographic presence across the region.

For instance, in 2016, Cartier Company has launched new creative floral signature, Cactus de Cartier, as well as several diamond collections.
Furthermore, in 2017, Tiffany & Co added a net of two TIFFANY & CO. stores, resulting in a 3% net increase in gross retail square footage.
Key player’s profiles in the report are Cartier Company (France), Van Cleef & Arpels (France), Tiffany & Co. (USA), Bulgari S.p.A (Italy), Harry Winston (US), Piaget, Graff (UK), Chopard (Switzerland), Georg Jensen (Denmark), Mikimoto (Japan), Buccellati Holding Italia SpA (Italy), GUCCI (Italy), UNOAERRE (Italy), Damiani S.p.A (Italy), Follie Follie Japan, Ltd. (Japan), and Richemont (Europe).

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Precision Business Insights (PBI) in its report titled “Global Luxury Jewelry Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2014-2018 and Forecast 2019-2026” assesses the market performance over seven years forecast period over 2019-2026. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period.

Detailed Segmentation 

By Product Type

Headwear
Necklace
Rings
Earrings
Bracelets
Others 
By End User

Men
Women 
Geography 

North America

US
Canada
Europe

Germany
France
UK
Italy
Spain
Russia
Poland
Rest of Europe
Asia-Pacific

Japan
China
India
Australia & New Zealand
ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
South Korea
Rest of Asia-Pacific
Latin America

Brazil
Mexico
Argentina
Rest of Latin America
Middle East and Africa (MEA)

Gulf Cooperation Council (GCC) Countries
Israel
South Africa
Rest of MEA
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