Jewellery and watches aren't essential, so sales depend on people's confidence in the economy and how much they have to spend. Recent economic headwinds, notably the cost-of-living crisis, have weighed in on sales for jewellery and watches, but sales are now slowly picking up as consumer confidence rebounds. However, more affluent shoppers have largely sustained sales of jewellery and watches, as they have been less adversely affected by changes to real disposable income, keeping revenue afloat in challenging economic conditions. The lingering effects of inflation and low consumer confidence over 2024-25 constrained spending on luxury items. In response, retailers, like Watches of Switzerland, have focused on international growth opportunities to boost their presence in the US market and greater investment in R&D and infrastructure, to be able to capitalise as industry demand recovers. Going into 2025-26, easing inflationary pressures and improvements in real disposable income are boosting the market. With consumer sentiment rising in 2025-26 to 47.0 as of August 2025, according to the S&P Global Index, shoppers have renewed confidence about spending on luxury goods, which will support jewellery and watch sales. Retailers must adapt to changing consumer preferences, offering a more experiential-led approach to selling goods, with strong customer service, stronger marketing and more exclusive product launches, to retain and attract customers who are increasingly prioritising spending on luxury goods and services that provide them with the best experience. The greater introduction of overseas brands into the UK industry and an increased focus on sustainability, driven by rising environmental consciousness, is reshaping the industry. Key stores like Pandora have adopted recycled materials and lab-grown diamonds, appealing to eco-conscious consumers, which is set to boost revenue. Over the five years through 2025-26, revenue is projected to climb at a compound annual rate of 4.5% to approximately £8.1 billion. Revenue is forecast to inch downwards slightly by 0.6% in 2025-26, with multiple store closures reducing revenue streams and online channels providing strong competition. The operating profit margin is anticipated to recover to 6.7% in 2025-26 as demand for industry products grows in line with confidence rising. Revenue is expected to climb at a compound annual rate of 2.2% over the five years through 2030-31 to £9.2 billion. Economic conditions are expected to stabilise in the coming years, supporting renewed spending growth and increasing demand for mid-range products. The future outlook for the UK Jewellery and Watch Stores industry will be shaped by growing online shopping trends, the perception of luxury watches as investment assets and the enhanced integration of AI into services. The industry will also have to face the rising rate of crime looming over the whole retail sector and rising gold prices will continue to create obstacles for many Jewellery and Watch Stores.

The UK jewelry market surged to $2.4B in 2024, picking up by 119% against the previous year. In general, consumption, however, continues to indicate a modest expansion. Over the period under review, the market attained the maximum level at $3.4B in 2015; however, from 2016 to 2024, consumption stood at a somewhat lower figure.

Market Size statistics on the Jewellery & Watch Stores industry in the UK

The UK and Poland luxury jewelry markets are experiencing significant growth, with a combined market size valued at 2,147.1 million in 2025. The UK market, particularly in London, has a strong presence of established luxury brands such as Queensmith, Chaumet, and Garrard, contributing to its dominance. Poland's market, centered in Warsaw, is rapidly emerging with domestic brands like Maya Magal London and Daisy London gaining popularity. The growth is attributed to rising disposable income, urbanization, and changing consumer preferences towards unique and personalized jewelry. Key drivers include increasing consumer demand for high-quality and sustainable luxury goods, especially among millennials and Gen Z consumers. The trend towards personalization and customization is driving market expansion, with consumers seeking pieces that reflect their individual style. Additionally, the growing influence of social media and celebrity endorsements has fueled demand for statement pieces. Despite challenges such as economic fluctuations and competition from fast fashion brands, the prospects for the UK and Poland luxury jewelry market remain positive. Emerging trends like wearable technology and eco-friendly materials are expected to shape the future. The U.K. and Poland luxury jewelry market is a rapidly growing and highly competitive industry. The market is driven by a number of factors, including rising disposable incomes, increasing urbanization, and a growing awareness of luxury brands. The U.K. luxury jewelry market is the second largest in Europe, after France. The market is dominated by a few large players, such as Cartier, Tiffany & Co., and Van Cleef & Arpels. However, there is also a growing number of smaller, independent jewelers that are gaining market share. The Poland luxury jewelry market is smaller than the U.K. market, but it is growing at a faster rate. The market is driven by a number of factors, including rising disposable incomes, increasing urbanization, and a growing awareness of luxury brands. The Poland luxury jewelry market is dominated by a few large players, such as W. Kruk, Apart, and Bizuteria. However, there is also a growing number of smaller, independent jewelers that are gaining market share.

Analysis of the UK jewelry market forecast to 2035, including consumption, production, trade data, and key trends. Market volume expected to reach 269 tons, valued at $3.3B.

This statistic shows the quarterly value of jewelry, bijouterie and related articles imported to the United Kingdom (UK) between 2nd quarter 2015 and 2nd quarter 2024. In the second quarter of 2024, UK imports of jewelry amounted to approximately *** million British pounds.

According to the research report, the Order Processing Software market is estimated to reach USD 92.83 billion by 2035, its 2025 value being USD 51.83 billion. The Order Processing Software market CAGR is 6.0% during the period 2025 to 2035.

Metric	Value
Market Size (2025E)	USD 51.83 billion
Market Value (2035F)	USD 92.83 billion
CAGR (2025 to 2035)	6.0%

Country wise Insights

Country	CAGR (2025 to 2035)
United States	5.8%

Country	CAGR (2025 to 2035)
United Kingdom	5.9%

Region	CAGR (2025 to 2035)
European Union (EU)	6.0%

Country	CAGR (2025 to 2035)
Japan	6.2%

Country	CAGR (2025 to 2035)
South Korea	6.1%

Competitive Outlook: Luxury Fine Jewellery Market

Company Name	Estimated Market Share (%)
Guccio Gucci S.p.A.	14-18%
The Swatch Group Ltd.	12-16%
Richemont	12-16%
Tiffany & Co.	10-14%
GRAFF	8-12%
Louis Vuitton SE	7-11%
Signet Jewelers Limited	6-10%
Chopard International SA	5-9%
MIKIMOTO	4-8%
Pandora Jewelry , LLC	4-7%
Other Companies (combined)	25-35%

UK Luxury Jewelry & Watches Market is valued at GBP 8.5 billion, driven by rising disposable incomes, affluent consumers, and demand for high-end goods as status symbols.

The United Kingdom Gems & Jewelry market is expected to reach market size of more than USD 8.50 Billion by 2028.

According to Statista estimates, the market for shared luxury jewelry in the United Kingdom (UK) made up approximately just over *** percent of the luxury jewelry market in 2020. The share of this market over traditional market is forecast to increase overall in the next five years, reaching to about **** percent in 2025.

USD 1583.15 Million in 2024; projected USD 3681.89 Million by 2033; CAGR 9.72%.

USD 832.37 Million in 2024; projected USD 1689.5 Million by 2033; CAGR 8.06%.

In 2024, the UK imitation jewellery market increased by 1.3% to $348M, rising for the fourth year in a row after four years of decline. In general, consumption saw a relatively flat trend pattern. Over the period under review, the market attained the maximum level in 2024 and is likely to continue growth in the near future.

Consumer confidence, disposable incomes, exchange rates and world prices of precious metals all heavily influence the performance of watch and jewellery wholesalers. Purchases of watches and jewellery are considered discretionary, with many customers opting to rein in the spending during periods of uncertainty. However, the luxury end of the market is remarkably robust to market cycles. Over the five years through 2025-26, wholesalers' revenue is forecast to grow at a compound annual rate of 5.2% to £3.2 billion. This is largely driven by rising real household disposable income amid more moderate inflation, lifting demand for discretionary items like watches and jewellery and raising industry revenue. There has been a larger growth in younger generations purchasing watches and jewellery and they are willing to invest in the luxury end of the market. This trend is driving sales value for the industry and lifting revenue. The cost-of-living crisis contributed to a steep drop in revenue in 2023-24 as shoppers tightened their purse strings. Key downstream markets like high-street shops reined in their order volumes, hitting wholesalers' revenue hard. The harsh trading conditions have also impacted the usually resilient luxury market. As retail sales recover from a long period of inflationary pressure, revenue is expected to rise in 2025-26, increasing by 2.5%. Profitability is edging up as rising consumer confidence lifts sales volume, driving revenue. Wholesale bypass will remain a severe threat to wholesalers' revenue and margin. The sharp rise in operating costs in recent years has encouraged retailers to reassess their supply chains, with many opting to deal directly with manufacturers in search of lower prices. This trend is particularly prominent among larger retailers with the purchasing power to negotiate favourable supply deals. Consumer confidence will grow, boosting sales of high-margin statement pieces. Improving disposable incomes will also drive demand for ethical gold at a hefty premium. Over the five years through 2030-31, wholesalers' revenue is forecast to grow at a compound annual rate of 4.1% to reach £3.9 billion.

Learn about the projected growth of the jewelry market in the UK over the next decade, with an expected increase in market volume and value. Anticipated CAGR rates indicate positive growth, with market value forecasted to reach $1.8B by 2035.

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Diamond Jewelry Market Size 2025-2029

The diamond jewelry market size is valued to increase USD 18.77 billion, at a CAGR of 3.2% from 2024 to 2029. Innovation in terms of design and manufacturing technology will drive the diamond jewelry market.

Major Market Trends & Insights

North America dominated the market and accounted for a 44% growth during the forecast period.
By Product Type - Rings segment was valued at USD 50.40 billion in 2023
By Distribution Channel - Specialty stores segment accounted for the largest market revenue share in 2023

Market Size & Forecast

Market Opportunities: USD 28.47 billion
Market Future Opportunities: USD 18773.30 billion
CAGR : 3.2%

Market Summary

The market represents a dynamic and continually evolving industry, driven by advances in core technologies and applications, service types, and product categories. Technological innovations in design and manufacturing processes, such as the use of computer-aided design (CAD) and 3D printing, are revolutionizing the industry. Additionally, the increasing adoption of omnichannel strategies by retailers is expanding market reach and enhancing customer experience. However, the market faces challenges, including the presence of counterfeit products in the e-retailing space, which undermines consumer trust and brand reputation.
The market size was valued at over 80 billion US dollars in 2020, and it is expected to grow further as consumers continue to seek unique, high-quality pieces. These trends and dynamics highlight the ongoing evolution of the market and the opportunities and challenges that lie ahead.

What will be the Size of the Diamond Jewelry Market during the forecast period?

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How is the Diamond Jewelry Market Segmented and what are the key trends of market segmentation?

The diamond jewelry industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Product Type

  Rings
  Necklaces
  Earrings
  Bangles
  Pendants


Distribution Channel

  Specialty stores
  Department stores
  Discounters
  Online retailers
  Others


Type

  Natural
  Lab-grown


End-User

  Women
  Men
  Unisex


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Italy
    UK


  Middle East and Africa

    Egypt
    KSA
    Oman
    UAE


  APAC

    China
    India
    Japan


  South America

    Argentina
    Brazil


  Rest of World (ROW)

By Product Type Insights

The rings segment is estimated to witness significant growth during the forecast period.

In the dynamic and evolving the market, rings continue to dominate with a significant market share in 2024. Major players, such as Harry Winston, Tanishq, and Malabar Gold and Diamonds, cater to diverse customer needs with extensive offerings. For instance, Tanishq provides over three thousand designs for diamond rings, ensuring a wide range of choices for consumers. The luxury segment is experiencing growth as companies target high-end customers with premium products. The increasing affluence of the middle class, particularly during weddings and celebrations, fuels the demand for these luxury offerings. Companies are responding by introducing advanced technologies and techniques to enhance their product offerings.

For example, jewelry design software and 3D printing technology enable the creation of intricate designs, while laser inscription technology allows for personalized engravings. In the realm of diamond quality assessment, color grading systems, clarity characteristics assessment, and inclusion mapping technology play crucial roles. These technologies help ensure the authenticity and value of diamonds, contributing to the overall growth of the market. Furthermore, ethical sourcing practices and conflict-free diamonds are becoming increasingly important to consumers, driving the adoption of certification standards such as GIA and AGS. The market for diamond jewelry is also witnessing advancements in setting methods, with tension setting and prongs setting styles gaining popularity.

Precious metal alloys, such as gold karat purity, are used to enhance the durability and appearance of jewelry pieces. Additionally, techniques like electroplating and metal finishing processes contribute to the overall aesthetic appeal of the products. Looking ahead, the industry anticipates continued growth, with an estimated 25% of the market share attributed to online sales in 2025. Furthermore, the integration of technology in jewelry manufacturing, such as wax casting techniques and CAD jewelry modeling, is expected to streamline production processes and reduce costs. In conclusion, the market is a thriving indus

Learn about the projected growth of the jewelry market in the UK, with a forecasted increase in market volume to 610 tons and market value to $1.8B by 2035.

USD 4.61 Billion in 2024; projected USD 6.61 Billion by 2033; CAGR 4.12%.

Snapshot img

Jewelry Market Size 2024-2028

The jewelry market size is forecast to increase by USD 107.9 billion, at a CAGR of 5.45% between 2023 and 2028.

The market is experiencing significant growth, driven by the increasing demand for jewelry as gifts and the expanding acceptance of jewelry among men. This trend is fueled by cultural shifts and evolving consumer preferences, creating a favorable market landscape for businesses. Moreover, the growing acceptance of gems and jewelry among men, expanding beyond traditional roles as gifts for women, is broadening the market base. However, the market faces a substantial challenge with the increasing availability of counterfeit jewelry. This issue poses a threat to both consumers and legitimate businesses, as it undermines trust and quality standards. Companies must invest in robust anti-counterfeiting measures and collaborate with industry organizations to combat this challenge effectively. By focusing on authenticity and quality, businesses can differentiate themselves in the market and capitalize on the growing demand for jewelry.
Additionally, expanding product offerings to cater to the increasing acceptance of jewelry among men and exploring innovative marketing strategies can further bolster growth opportunities. Overall, the market presents a dynamic and promising landscape for businesses, offering potential for growth and innovation while navigating the challenges of counterfeiting.

What will be the Size of the Jewelry Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2018-2022 and forecasts 2024-2028 - in the full report.
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The market continues to evolve, with dynamic market activities unfolding across various sectors. Brick-and-mortar stores face increasing competition from e-commerce platforms, as online retailers offer convenience and a wider selection of jewelry types. However, the tactile experience of trying on jewelry in person remains a draw for many consumers. Costume jewelry maintains its popularity, with mass-produced pieces often incorporating the latest trends. Meanwhile, fine jewelry, including engagement rings and wedding bands, continues to be a significant market, with consumers seeking quality and craftsmanship. Technological advancements, such as 3D printing and CAD/CAM design, are transforming the jewelry industry.

Conflict-free diamonds and ethical sourcing are becoming increasingly important, as consumers demand transparency and sustainability. Jewelry care is a constant concern, with consumers seeking out jewelry insurance, repair services, and cleaning solutions. Antique jewelry and estate pieces also remain popular, with collectors and enthusiasts seeking authenticity and history. Jewelry distributors and luxury jewelry brands cater to different market segments, with statement pieces and sustainable materials gaining traction. Watches, including those with complications, remain a staple in the market. Jewelry manufacturing processes, such as bezel setting, pavé setting, channel setting, and prong setting, continue to evolve, with handcrafted and recycled metals gaining popularity.

Jewelry auctions offer collectors and investors a chance to acquire rare and unique pieces. The market is a continually evolving landscape, with consumers seeking quality, sustainability, and innovation. From precious metals and diamonds to costume jewelry and watches, the market caters to a diverse range of preferences and budgets.

How is this Jewelry Industry segmented?

The jewelry industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Distribution Channel

  Specialist retailers
  Online


Material

  Gold
  Diamond
  Others


Product Type

  Rings
  Necklaces & Pendants
  Earrings
  Bracelets
  Watches
  Cufflinks
  Brooches


End-User

  Men
  Women
  Children


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Italy
    UK


  Middle East and Africa

    Egypt
    KSA
    Oman
    UAE


  APAC

    China
    India
    Japan


  South America

    Argentina
    Brazil


  Rest of World (ROW)

By Distribution Channel Insights

The specialist retailers segment is estimated to witness significant growth during the forecast period.

The market encompasses various segments, including metal alloys, jewelry repair, pavé and channel setting, jewelry appraisal, cad/cam design, wedding bands, handcrafted jewelry, carat weight, jewelry design, sustainable jewelry, estate jewelry, jewelry care, brick-and-mortar stores, costume jewelry, bezel setting, fine jewelry, jewelry insurance, 3D printing, conflict-free diamonds, antique jewelry, e-commerce platforms, jewelry distribu

Baby Jewelry market has been steadily increasing over recent years, and forecasts suggest a substantial growth trajectory in the upcoming period.

ATTRIBUTES	DETAILS
STUDY PERIOD	2018-2031
BASE YEAR	2024
FORECAST PERIOD	2025-2031
HISTORICAL PERIOD	2018-2024
UNIT	VALUE (USD MILLION)
KEY COMPANIES PROFILED	Rajesh Exports, Richemont, Signet Jewelers, Maria Black, Missoma London, Laura Lombardi, Bar Luxury Jewellery, Gaviria, Maria Tash, Katerina Makriyianni, Monica Vinader, Swarovski, Tiffany & Co, Thomas Sabo, Chow Sang Sang, Lao Feng Xiang, Others
SEGMENTS COVERED	By Product Type - Gold, Silver, Platinum, Stainless Steel, Beaded/Customized Materials By Application - Infants (0-12 months), Toddlers (1-3 years), Preschoolers (3-5 years), Children (5-12 years) By Sales Channels - Direct Channel, Distribution Channel By Geography - North America, Europe, Asia-Pacific, South America, Middle East and Africa