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Jewelry Market To Reach $578.45Bn By 2033 | CAGR: 5.3%

Jewelry Market To Reach $578.45 Billion By 2033 | CAGR: 5.3%

July 2025 | Report Format: Electronic (PDF)

Jewelry Market Growth & Trends

The global jewelry market size is estimated to reach USD 578.45 billion by 2033, registering a CAGR of 5.3% from 2025 to 2033, according to a new report by Grand View Research, Inc. The luxury goods industry continues to fuel the growth of the market, amid challenges concerning varying economic trends.

The demand for jewelry is increasing as the world is recovering from a recession and the global COVID-19 crisis. Over the past few years, consumer preference has turned to branded jewelry. This trend is more prominent among the emerging upper-middle class or wealthy consumers, particularly in Asia Pacific, for whom branded jewelry is a status symbol. According to the World Gold Council, India and China accounted for more than half of the global gold jewelry demand.

Most consumers buy jewelry from international or established brands as they offer authentic & trustworthy products and unique designs. E-commerce is another important trend in the industry. Most consumers in this market prefer to research online before purchasing any product, and many make purchases from online portals for convenience.

Technological advancements have been transforming the jewel industry, from mining and discovering precious metals to cloud solutions and e-commerce platforms. Computer-aided design (CAD), 3D printing, and augmented reality (AR) are among the most notable technologies that have been prompting the growth of the industry in recent years. From a distribution standpoint, the emergence and popularity of these technologies have been aiding jewelry manufacturers around the world to realize higher profit margins in retail outlets.

A key trend that has been gripping the jewelry industry over the years is the transformation of the shopping experience using technology. For instance, in June 2017, YOOX NET-A-PORTER GROUP, an Italian online fashion retailer, partnered with Lumyer Inc., a U.S.-based app developing company, to launch an AR camera app designed to enable users to try on jewelry, sunglasses, and handbags in virtual reality.

The rising number of double-income households in emerging economies such as India, China, and Brazil has resulted in increased spending on luxury goods, including jewelry. Spending on luxury products is expanding at a more substantial rate in tier II cities in India than in tier I cities. According to American Express, high-end spending in tier II cities between 2013 and 2018 grew 30 times faster than that in tier I cities. The rise in luxury spending in tier I and tier II cities is due to strict measures by the Indian government, such as the increase in excise duty on gold and diamond, demonetization, and a rise in taxes on luxury items to curb black money.

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Jewelry Market Report Highlights

Based on product, the ring jewelry segment contributes the majority of the share to become the largest division in the global revenue in 2024. The segment stood as the most popular product amongst end-users as consumers’ interest is growing in the intricate designs and details of the rings. Moreover, they are perceived as elegant and stylish statement-making jewelry among both the gender men and women which is supporting the growth of the segment.
Based on material, the gold jewelry market segment accounted for the largest revenue share of 54.9% in 2024. The growth is driven by its long-standing status as a symbol of wealth, cultural heritage, and enduring elegance.
Based on distribution channel, the jewelry sales through the offline retail stores accounted for the largest share of around 84.3% of the global revenue in 2024.
Based on end-user, the women’s jewelry market accounted for the largest share of around 71.7% of the revenue in 2024, driving demand across luxury, fashion, and daily wear categories.
Asia Pacific held the largest market share in 2024 for the market. Highly populated and developing economies of the region including China and India generate humongous demand for jewelry boosting its consumption and revenue. Additionally, the huge significance of jewelry in Indian culture, improving living standards coupled with rising per capita income and spending power, and the rising influence of social media on consumers is fueling the growth of the market in Asia Pacific.