The global Luxury Jewelry market size is expected to be worth around US$ 80.2 billion by 2030, according to a new report by Vision Research Reports.
The global Luxury Jewelry market size was valued at US$ 47.4 billion in 2020 and is anticipated to grow at a CAGR of 12.2% during forecast period 2021 to 2030.
Get Sample Copy of This Report (Including TOC, List of Tables & Figures, and Chart)@ https://www.visionresearchreports.com/report/sample/38486
Luxury Jewelry Market (By Raw Material: Gold, Platinum, Diamond, Precious Pearls, Gemstones, Others; By Product: Necklaces, Ring, Earrings, Bracelets, Others; By Application: Women, Men, Children; By Distribution Channel: Online, Offline) – Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2021 – 2030
The growth of the market is predicted to be driven by increased demand for high-end fashion items and rising disposable income levels. Product demand is also projected to be boosted by rising customer desire for branded jewelry. Consumers are willing to spend more money on branded and high-end jewelry to express their personal style.The growing demand for bespoke projects reflects the luxury industry’s need for personalization, but it’s also directly tied to upcycling. The rise in demand for sustainable jewelry and the rise in demand for gender-fluid jewelry are factors boosting the growth of the market for luxury jewelry. Luxury Jewelry has also grown into vehicles for self-expression, with many buyers looking for unique and important pieces. Non-traditional forms, shapes, and materials have found their way into jewelry collections.
The gold segment dominated the market for luxury jewelry and accounted for the largest revenue share of 48.9% in 2020. Gold is an alluring investment during times of political and economic crisis. Gold luxury jewelry accounts for half of all gold consumption, with investments accounting for 40% and industry accounting for 10.0%.
The ring segment dominated the market for luxury jewelry and accounted for the largest revenue share of 42.2% in 2020. In comparison to the pre-pandemic period, 65 percent of Americans are now more likely to offer a significant gift to someone they care about. When people are in a relationship, the percentage rises to 77%. At the end of 2020, more than half of customers went out shopping or socializing for the first time since pre-COVID-19.
The women segment dominated the market for luxury jewelry and accounted for the largest revenue share of 79.2%in 2020. The men segment is expected to witness a CAGR of 8.8 % over the forecast period. The majority of people who buy natural diamond jewelry wear it themselves, according to a Consumer Insights Report on Diamond Desirability (US) published by the Natural Diamond Council (NDC) in January 2021.
The offline segment dominated the market for luxury jewelry and accounted for the largest revenue share of 91.9% in 2020. Several consumers prefer purchasing luxury jewelry from offline stores as opposed to online platforms. According to a survey in 2021, even though consumers browsed or selected products online, only 15-20% of them bought jewelry online, and the remainder preferred to purchase these items from physical stores.
Asia Pacific dominated the market for luxury jewelry and accounted for the largest revenue share of 75.4% in 2020. China and India are the two largest markets for luxury jewelry in the region. The latest styles and the need for high-quality jewelry among top customers are two significant drivers driving the market for luxury jewelry in this region.
- Guccio Gucci S.p.A.
- The Swatch Group Ltd.
- Tiffany & Co.
- Louis Vuitton SE
- Signet Jewelers Limited
- Chopard International SA
- Pandora Jewelry, LLC
|Market Size||US$ 80.2 billion by 2030|
|Growth Rate||CAGR of 12.2% From 2021 to 2030|
|Historic Data||2017 to 2020|
|Forecast Period||2021 to 2030|
|Segments Covered||Raw Material, Product, Application, Distribution Channel|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Companies Mentioned||Guccio Gucci S.p.A.; The Swatch Group Ltd.; Richemont; Tiffany & Co.; GRAFF; Louis Vuitton SE; Signet Jewelers Limited; Chopard International SA; MIKIMOTO; Pandora Jewelry, LLC|
- Raw Material
- Precious Pearls
- Distribution Channel
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa
- North America
The study objectives of this report are:
- To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
- Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
- To define, describe and forecast the market by type, application and region.
- To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
- To identify significant trends and factors driving or inhibiting the market growth.
- To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
- To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
- To strategically profile the key players and comprehensively analyze their growth strategies.
Buy This Premium Research Report, click here@ https://www.visionresearchreports.com/report/cart/38486 or call: +1 9197 992 333