Market Overview

According to Fortune Business Insights, the Global Jewelry Market was valued at USD 216.48 billion in 2022 and is projected to reach USD 224.38 billion in 2023. The market is anticipated to grow to USD 308.36 billion by 2030, exhibiting a CAGR of 4.6% during the forecast period. This growth is primarily driven by a rising consumer inclination toward luxury products, leading to increased demand for jewelry. Additionally, the integration of technology into jewelry design and production is further fueling market expansion. Higher disposable incomes are also contributing to greater consumer spending on premium and ornamental items.

List of Key Players Profiled in the Report

• Harry Winston, Inc. (U.S.)
• Chopard (Switzerland)
• Pandora Jewelry, LLC. (U.S.)
• Chow Tai Fook Jewellery Company Limited (Hong Kong)
• Tiffany & Co (U.S.)
• Rajesh Exports Ltd (India)
• Cartier International SNC (France)
• Signet Jewelers Limited (Bermuda)
• Chanel (France)
• LVMH Moët Hennessy (France)

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Segmentation Insights

Ring Segment to Dominate Due to Its Symbolic Value

By product type, the market is segmented into rings, necklaces, earrings, bracelets, and others. Among these, the ring segment is expected to lead the market, primarily due to its strong cultural association with engagements and marital status. Increasing consumer interest in personalized jewelry is encouraging brands to offer a wide range of customization options. Meanwhile, other segments such as earrings, necklaces, and bracelets are also gaining traction, driven by their appeal for aesthetic enhancement and fashion purposes.