Luxury Jewelry Market Size (2025 – 2030)

The Luxury Jewelry Market was valued at USD 50.2 Billion in 2024 and is projected to reach a market size of USD 85.26 Billion by the end of 2030. Over the forecast period of 2025-2030, the market is projected to grow at a CAGR of 9.23%.

Key Market Insights:

Tiffany & Co. partnered with the streetwear brand Supreme to launch a collection comprising eight men’s jewelry pieces, featuring prominent silver signet rings engraved with city names such as "NYC" and "LA." This distinctive partnership merged high-end craftsmanship with contemporary street fashion, effectively engaging a broader male demographic interested in luxury accessories.

Partnerships with renowned celebrities and influential designers further elevate brand visibility. Moreover, these companies are strategically entering developing markets while placing strong emphasis on sustainable practices and responsible sourcing. This approach aligns with the values of today’s consumers, supporting sustained growth and maintaining relevance in the dynamic luxury market.

Market Drivers:

The increasing demand for gender-fluid jewelry is emerging as a key driver of market expansion.

Gender fluidity is becoming increasingly prevalent in contemporary society. Research indicates that approximately 35% of Generation Z are acquainted with someone who identifies as non-binary. Modern consumers are shifting away from purchasing jewelry solely for special occasions, opting instead to invest in pieces for personal expression. This generation, in particular, shows a strong resistance to traditional labels and classifications, enabling brands to market their products based on individual preferences and diverse occasions.

A notable example is London-based jeweler Shaun Leane, recognized as a trailblazer in gender-fluid jewelry. His brand has experienced growing demand for custom engagement rings, particularly among same-sex couples. In response to evolving consumer preferences, many brands now incorporate both masculine and feminine elements in their designs, creating contemporary styles that appeal to a wider, more inclusive audience.

The growing preference for sustainable jewelry is a significant factor contributing to the expansion of the market.

The demand for sustainable and ethically produced jewelry is on the rise, particularly driven by millennial and Generation Z consumers across the globe. As awareness around environmental and social responsibility continues to grow, consumers increasingly prioritize products crafted from recycled materials. Many contemporary jewelers have adopted the use of recycled gold, with brands like Vieri and Lilian Von Trapp exclusively working with such materials. Sustainability is becoming a key consideration in fine jewelry purchases, significantly contributing to the rapid growth of the sustainable jewelry segment.

Key sustainability trends within the luxury jewelry industry include the use of lab-grown diamonds produced through renewable energy, ethically sourced and traceable gemstones, recycled or responsibly mined metals such as ecological gold, the restoration and resale of vintage or secondhand pieces, fair labor practices throughout the supply chain, and the protection of traditional craftsmanship.

Market Restraints and Challenges:

Volatility in the prices of raw materials poses a significant challenge to market growth.

Precious metals such as gold and platinum play a critical role in the production of luxury jewelry. Gold, in particular, is extensively used in crafting fine jewelry, making its price a crucial factor for luxury jewelry manufacturers. The COVID-19 pandemic significantly impacted global supply chains, with restricted trade routes and widespread lockdowns contributing to a sustained increase in gold prices. This surge in cost has adversely affected consumer demand within the luxury jewelry sector.

Similarly, platinum—another highly sought-after metal in high-end jewelry—has also experienced price inflation. The rising costs of these essential raw materials have become a barrier to market growth, creating challenges for both manufacturers and consumers in the luxury jewelry industry.

Market Opportunities:

The rising economic empowerment of women is creating new opportunities for growth within the luxury jewelry market.

Women have emerged as some of the most influential consumers in the global marketplace. The steady rise in female labor force participation has led to increased income levels, driven by factors such as improved education, evolving lifestyles, and greater economic inclusion. This growing financial independence is significantly shaping purchasing behavior, particularly in the luxury sector.

In many developing countries, rising income among women is accompanied by aspirations to adopt lifestyles similar to those of women in developed nations. Meanwhile, in developed markets like the United States and the United Kingdom, the number of affluent women continues to grow. These women represent a substantial consumer base for luxury goods. Research shows that affluent women represent roughly 25% of the U.S. population but are responsible for nearly 40% of total consumer spending, offering luxury brands significant growth opportunities.

 LUXURY JEWELRY MARKET REPORT COVERAGE:

Luxury Jewelry Market Segmentation:

Luxury Jewelry Market Segmentation By End-User:

• Female
• Male
• Children

The female consumer segment remains the dominant force within the luxury jewelry market. Research indicates that wearing jewelry stimulates the brain’s pleasure center, releasing dopamine and promoting a sense of well-being. Beyond its aesthetic appeal, jewelry holds deep cultural significance—symbolizing social status, personal identity, and playing a central role in life events such as engagements, weddings, and anniversaries. These discounts are often viewed as opportunities to acquire premium items at a more accessible price, fostering emotional connections with the brand.

Conversely, the men’s segment is expected to experience consistent growth throughout the forecast period. While traditionally limited to wedding bands and timepieces, men's jewelry has evolved to encompass a wider variety of styles that support personal expression. The rise of e-commerce has played a pivotal role in this expansion, offering consumers the convenience to explore and purchase jewelry online, thereby increasing accessibility and market reach.

Luxury Jewelry Market Segmentation By Raw Material:

• Gold
• Diamond
• Platinum
• Precious Pearls
• Gemstones
• Others

Gold has maintained a dominant position in the luxury jewelry market. Recognized as a reliable investment during periods of political and economic uncertainty, gold’s cultural significance, timeless allure, and status as a symbol of wealth and prosperity contribute to its widespread consumer preference. Its versatility in jewelry design enables artisans to create diverse styles, often incorporating various gemstones to craft elegant pieces. Furthermore, gold’s intrinsic value and stability as an investment asset reinforce its strong market standing. Over the past year, gold prices have risen by more than 25%, underscoring its value as both a precious metal and a dependable form of collateral.

Platinum is expected to witness sustained growth over the forecast period, attributed to its unique characteristics and enduring appeal. The increasing demand for bespoke and unique jewelry designs further fuels interest in platinum, as it lends itself well to detailed craftsmanship and intricate styles. As consumers continue to prioritize high-quality, investment-worthy pieces, platinum’s appeal is expected to strengthen. Additionally, its natural white luster makes platinum an ideal metal for setting diamonds and other precious gemstones, enhancing their overall brilliance and aesthetic.

Luxury Jewelry Market Segmentation By Product:

• Ring
• Necklace
• Earring
• Bracelet
• Others

Rings maintain their leading position in the luxury jewelry market. Frequently associated with weddings, engagements, and other important life events, rings hold a unique place in consumers’ lives. The wide array of customization options allows individuals to express personal taste and style, reinforcing their market prominence. Whether featuring intricate vintage craftsmanship, classic solitaire diamonds, or bold statement designs, rings provide limitless opportunities for self-expression and luxury. Leading companies leverage key marketing strategies such as branding through social media channels and celebrity endorsements, while messaging approaches significantly influence consumer purchasing behavior.

Necklace sales are projected to grow steadily over the forecast period, driven by their versatility and ability to serve as bold fashion statements. The market offers an extensive variety of styles, ranging from lavish ornamental pieces to sleek minimalist designs, catering to diverse consumer preferences. Additionally, the growing trend of layering necklaces encourages buyers to combine multiple pieces, creating personalized and stylish looks that further boost demand.

Luxury Jewelry Market Segmentation By Distribution Channel:

• Supermarkets/Hypermarkets
• Convenience/Grocery Stores
• Specialist Retailers
• Online Channels
• Other Distribution Channels

The offline channel currently dominates the luxury jewelry market. A significant portion of consumers prefer purchasing jewelry from physical stores rather than online platforms, largely due to the personalized shopping experience these locations offer. Major industry players derive substantial revenue from offline sales by providing benefits such as free product demonstrations, the ability to physically inspect items prior to purchase, a wide selection of options, and expert guidance from sales representatives who assist customers in selecting products tailored to their specific needs.

However, the online channel is anticipated to experience considerable growth over the forecast period. Online platforms offer advanced tools for customization and personalization, addressing individual consumer preferences. The convenience and accessibility of online shopping enable customers to browse and select luxury jewelry from virtually anywhere. Additionally, impactful digital marketing efforts and social media campaigns help attract a broader audience. Customer ratings and online reviews further assist potential buyers in making well-informed decisions. Innovative technologies such as virtual reality (VR) and augmented reality (AR) are increasingly employed to allow customers to visualize jewelry pieces on themselves prior to purchase, enhancing the overall online shopping experience.

Luxury Jewelry Market Segmentation: Regional Analysis:

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

The Asia-Pacific region stands as the most prominent market in the global luxury jewelry industry. Key factors driving growth in Asia-Pacific include the demand for innovative designs and high-quality jewelry among affluent consumers. Additionally, the adoption of advanced technologies, such as computer-aided design (CAD) in jewelry manufacturing, further propels market expansion. The increasing emphasis on visual aesthetics, the influence of social media, and widespread internet usage among consumers also contribute to the region’s robust growth.

Moreover, the presence of leading global brands like Qeelin, Tanishq, Malabar Gold and Diamonds, and Wallace Chan significantly influences luxury jewelry consumption in Asia-Pacific. Cultural traditions, including the wearing of elaborate jewelry during festivals such as Diwali and Chinese New Year, are expected to support continued market growth throughout the forecast period.

In North America, the luxury jewelry market is also projected to experience growth over the coming years. This is largely attributed to the region’s high disposable incomes and strong demand for premium jewelry products. The rise of e-commerce, particularly accelerated by the COVID-19 pandemic, has positively impacted market dynamics. Online platforms provide consumers with convenient access to detailed information about product designs, pricing, and quality, as well as sourcing of raw materials. With physical retail outlets facing disruptions during the pandemic, e-commerce channels played a critical role in maintaining market stability, resulting in increased online sales of luxury jewelry during this period.

COVID-19 Impact Analysis:

The luxury jewelry market experienced a complete shutdown in the aftermath of the COVID-19 pandemic. Following the implementation of nationwide lockdowns by governments worldwide to curb the virus’s spread, the market came to a halt as mining operations were temporarily suspended. Since luxury jewelry primarily relies on precious metals such as gold, diamonds, and platinum—materials sourced through mining—this disruption had a profound impact on production.

Additionally, consumer priorities shifted rapidly during this period, with a focus on essential goods rather than luxury items, leading to a significant decline in demand for high-end jewelry. Compounding these challenges, the closure of distribution networks severely restricted the import and export of goods, further limiting the market’s ability to meet consumer demand.

Latest Trends and Developments:

The increasing focus among men on aesthetic appeal and personal grooming is driving a notable shift in the luxury jewelry market. Additionally, the rapid adoption of current fashion trends by men—largely influenced by social media—has contributed to growing demand for men’s luxury jewelry items, including bracelets, necklaces, and rings. In response to these evolving consumer preferences, manufacturers are strategically prioritizing the development and promotion of these products to strengthen their competitive position in the market.

Key Players in the Market:

1. Guccio Gucci S.p.A.
2. Compagnie Financière Richemont SA
3. The Swatch Group Ltd
4. GRAFF
5. T&CO.
6. Signet Jewelers.
7. LOUIS VUITTON
8. MIKIMOTO
9. Chopard
10. Pandora

Market News:

• In February 2025, Aesop, known for its signature fragrances, joined forces with jeweler Patcharavipa Bodiratnangkura to introduce a limited-edition rhodium-plated ear cuff. This piece drew inspiration from Aesop’s floral fragrance "Aurner," with its organic leaf motif symbolizing the brand’s profound engagement with the arts.
• In February 2025, Tanishq marked its debut at New York Fashion Week through a collaboration with renowned fashion designer Bibhu Mohapatra. The partnership showcased over 40 jewelry creations designed to complement Mohapatra’s 2025 Fall collection, which was inspired by Indian heritage. Tanishq’s globally appealing designs underscored the richness of India’s craftsmanship, accentuating the collection’s bold and distinctive features.