In 2024, the Singaporean jewelry market increased by 40% to $1.8B, rising for the fourth year in a row after two years of decline. In general, consumption enjoyed significant growth. Over the period under review, the market reached the maximum level in 2024 and is likely to see steady growth in years to come.

USD 88.53 Million in 2024; projected USD 196.88 Million by 2033; CAGR 9.37%.

USD 0.58 Billion in 2024; projected USD 0.83 Billion by 2033; CAGR 3.98%.

In 2017, the amount of articles of jewellery imported into Singapore totaled X tons, approximately reflecting the previous year. In general, articles of jewellery imports continue to indicate an abrupt decrease. The most prominent rate of growth was recorded in 2010, an increase of X% against the previous year. Singapore imports peaked of X tons in 2007; however, from 2008 to 2017, it failed to regain its strength.In value terms, articles of jewellery imports totaled $X in 2017.

The Singaporean imitation jewellery market amounted to $X in 2020, picking up by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption enjoyed buoyant growth. The pace of growth appeared the most rapid in 2013 when the market value increased by X% year-to-year. Imitation jewellery consumption peaked in 2020 and is expected to retain growth in the near future.

USD 89.45 Million in 2024; projected USD 177.11 Million by 2033; CAGR 7.9%.

USD 46.08 Million in 2024; projected USD 119.6 Million by 2033; CAGR 11.1%.

USD 103.1 Million in 2024; projected USD 191.93 Million by 2033; CAGR 7.2%.

Estate Jewelry Acquisition Market Outlook

According to our latest research, the Global Estate Jewelry Acquisition market size was valued at $7.8 billion in 2024 and is projected to reach $13.2 billion by 2033, expanding at a robust CAGR of 6.1% during the forecast period of 2024–2033. One major factor propelling the growth of this market globally is the surging demand for unique, sustainable, and historically significant jewelry pieces among affluent buyers, collectors, and investors. This trend is further amplified by the increasing preference for pre-owned luxury goods, which offer both exclusivity and value retention. As consumer awareness of sustainability grows, estate jewelry, which often encompasses antique, vintage, and contemporary pre-owned pieces, is being increasingly recognized as an eco-friendly alternative to newly manufactured jewelry, thus driving market expansion across diverse acquisition channels and end-user segments.

Regional Outlook

North America currently commands the largest share of the global estate jewelry acquisition market, accounting for approximately 38% of the total market value in 2024. This dominance is attributed to a mature luxury goods ecosystem, a well-established network of auction houses, and a high concentration of affluent collectors and investors. The United States, in particular, has a rich tradition of estate jewelry appreciation, supported by favorable inheritance laws, robust authentication mechanisms, and a thriving secondary market facilitated by both brick-and-mortar stores and digital platforms. Furthermore, the region benefits from a strong culture of philanthropy and estate donations, which continually replenish the supply of high-value pieces. This combination of supply, demand, and institutional infrastructure positions North America as the epicenter for high-value estate jewelry transactions and innovation in acquisition channels.

In contrast, Asia Pacific is emerging as the fastest-growing region in the estate jewelry acquisition market, with a projected CAGR of 8.2% from 2025 to 2033. This rapid growth is primarily driven by rising disposable incomes, increasing urbanization, and the growing influence of Western luxury trends among younger consumers in China, India, and Southeast Asia. The proliferation of online platforms and digital auction services has democratized access to estate jewelry, overcoming traditional barriers of geography and trust. Strategic investments by global luxury brands and auction houses in regional hubs like Hong Kong and Singapore further accelerate market penetration. Additionally, government policies promoting luxury consumption and easing cross-border e-commerce regulations have made it easier for international sellers to reach Asian buyers, fueling both demand and competition in the region.

Meanwhile, emerging economies in Latin America and the Middle East & Africa are witnessing gradual adoption of estate jewelry acquisition, albeit from a lower base. In these regions, challenges such as limited authentication infrastructure, lack of consumer awareness, and regulatory complexities have historically constrained market development. However, localized demand is beginning to rise, particularly among high-net-worth individuals and expatriate communities seeking alternative investment assets and culturally significant pieces. Policy reforms aimed at improving transparency in the luxury goods market, alongside the entry of international auction houses and digital platforms, are slowly bridging the trust gap. Nevertheless, the market in these regions remains highly fragmented, with significant untapped potential contingent on improvements in consumer education, regulatory harmonization, and the development of secure acquisition channels.

Report Scope

The Singapore Luxury Goods Market Report is Segmented by Product Type (Clothing and Apparel, Footwear, Eyewear, Jewelry, Leather Goods, Watches, and Other Types), End User (Men, Women, and Unisex), and Distribution Channel (Single Brand Stores, Multi Brand Stores, Online Stores, and Other Distribution Channels). The Market Forecasts are Provided in Terms of Value (USD).

Access Asia Pacific Opal Jewelry Industry Overview which includes Asia Pacific country analysis of (China, Japan, South Korea, India, Australia, Singapore, Taiwan, South East Asia, Rest of APAC), market split by Product Type, Applications, Distribution Channel

Singapore Luxury Goods Market size is growing at a faster pace with substantial growth rates over the last few years and is estimated that the market will grow at a CAGR of 4.5% in the forecasted period. i.e. 2026 to 2032.Key Market DriversTourism Recovery: Singapore's strong tourism recovery following the pandemic is a significant driver of the luxury goods market. According to the Singapore Tourism Board (STB), visitor arrivals reached 13.6 million in 2023, with a significant portion coming from China, Indonesia, and the Middle East. These visitors generated around SGD 26.8 billion in tourism revenue, with shopping accounting for nearly 25% of their expenses.Growing Ultra-High-Net-Worth Individual (UHNWI) Population: The growing number of ultra-wealthy individuals in Singapore is driving demand for premium and luxury products. According to the Knight Frank Wealth Report 2024, Singapore experienced a 5.4% increase in UHNWIs (individuals with net assets of USD 30 Million or more) in 2023, reaching roughly 4,200 people. This concentration of wealth has established Singapore as having one of the greatest densities of millionaires in the world, with roughly 8.8% of the adult population being millionaires.

The Singapore luxury goods market, encompassing clothing and apparel, footwear, bags, jewelry, watches, and other accessories, presents a robust investment opportunity. With a market size exceeding $XX million in 2025 (estimated based on provided CAGR and industry benchmarks), and a projected Compound Annual Growth Rate (CAGR) of 4.64% from 2025 to 2033, the sector is poised for substantial expansion. This growth is driven by Singapore's affluent population, increasing disposable incomes, and a strong preference for high-end brands. The rise of e-commerce, particularly through online retail stores, is further fueling market expansion, while the preference for experiential retail through single-branded stores maintains a significant presence. Despite the global economic uncertainties, the resilience of the luxury sector in Singapore suggests continued upward trajectory. Key players, including The Swatch Group, Rolex, Richemont, and LVMH, are strategically positioned to capitalize on this growth, driven by strong brand recognition and consistent product innovation. The market segmentation analysis reveals a dynamic interplay between different product categories and distribution channels, providing opportunities for both established players and emerging brands. The continued growth is expected to be supported by several factors. The government's efforts to attract high-net-worth individuals and tourists will positively influence spending on luxury goods. Additionally, evolving consumer preferences, particularly towards sustainability and personalization, will necessitate adaptability from businesses to retain a competitive edge. While potential economic slowdowns might present a temporary restraint, the long-term growth trajectory of the Singapore luxury goods market remains promising due to the consistent demand from both local consumers and international tourists. The market’s competitive landscape, characterized by a mix of established international brands and emerging local players, further contributes to its dynamism and future potential. Recent developments include: In May 2022, the high-jewellery brand Buccellati opened its first boutique in Singapore at the shops at Marina Bay Sands, that is designed in line with Buccellati's other architectural concepts, the maison has brought over the best of Italian savoir-faire with its iconic High Jewellery pieces. The iconic Bluebell Watch, for one, is distinguished by its slight flower-shaped white gold case, encrusted with diamonds, and finished with a blue enamel and diamond dial., In December 2021, Gucci has launched an online store for shoppers in Singapore, stocked with its bestselling handbags, sneakers, clothes, jewelry, and even makeup products from the Gucci beauty line., In May 2020, A Singapore-based luxury brand GRAY, known for its futuristic and architectural designs, expanded into luxury Apple Watch cases with the launch of the CYBER WATCH collection. The CYBER WATCH case complements Apple's leading-edge technology with a re-imagined exterior and only a limited number of CYBER WATCH cases were produced for three of the four exclusive models.. Notable trends are: Increasing Tourism and Growing Cultural Iinfluence.

The size of the Singapore Goods Market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 4.64% during the forecast period. Recent developments include: In May 2022, the high-jewellery brand Buccellati opened its first boutique in Singapore at the shops at Marina Bay Sands, that is designed in line with Buccellati's other architectural concepts, the maison has brought over the best of Italian savoir-faire with its iconic High Jewellery pieces. The iconic Bluebell Watch, for one, is distinguished by its slight flower-shaped white gold case, encrusted with diamonds, and finished with a blue enamel and diamond dial., In December 2021, Gucci has launched an online store for shoppers in Singapore, stocked with its bestselling handbags, sneakers, clothes, jewelry, and even makeup products from the Gucci beauty line., In May 2020, A Singapore-based luxury brand GRAY, known for its futuristic and architectural designs, expanded into luxury Apple Watch cases with the launch of the CYBER WATCH collection. The CYBER WATCH case complements Apple's leading-edge technology with a re-imagined exterior and only a limited number of CYBER WATCH cases were produced for three of the four exclusive models.. Key drivers for this market are: Influence of Endorsements and Aggressive Marketing, Inclination Toward Healthy Lifestyle and Athleisure. Potential restraints include: Availability of Counterfeit Products. Notable trends are: Increasing Tourism and Growing Cultural Iinfluence.

In 2024, the fashion and leather goods segment accounted for about ** percent of LVMH's revenue in Asia, excluding Japan. The watches and jewelry segment was the largest revenue group for LVMH in Japan in 2024. About LVMH LVMH Moët Hennessy Louis Vuitton, known as LVMH, is a French conglomerate specializing in luxury goods and is a parent company to numerous luxury brands, ranging from fashion and jewelry to wines and spirits. Louis Vuitton, the eponym of the group and the most valuable luxury brand in the world, earns its biggest revenue share from Asia. LVMH in Asia Asia is the largest consumer of luxury goods, with China, Japan, and South Korea being the leaders. There is a massive demand for luxury goods from the middle class in these economies, making them important strategic markets for LVMH. Asia is home to the highest number of LVMH stores. The first Louis Vuitton stores in Japan opened in Tokyo and Osaka in 1978, becoming a major heritage brand in the country. Stores in Singapore and Taipei followed up in 1979 and 1983, respectively. With a history of 30 years of operation in China, Louis Vuitton is the most popular luxury brand in the country.