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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.
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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.
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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% |
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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.
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Market Size statistics on the Jewellery & Watch Stores industry in the UK
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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.
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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.
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Gems and Jewelry Market Size 2024-2028
The gems and jewelry market size is estimated to grow USD 172.6 billion, at a CAGR of 8.62% between 2023 and 2028.
The market growth is driven by escalating demand for wedding jewelry, particularly in nations like India, where cultural significance is profound and the jewelry market is thriving. Bridal collections, encompassing necklaces, wedding bands, and engagement rings, and bridal wear are coveted globally for their elegance and symbolism. The rings segment in particular holds a substantial share in the market. India's growing middle-class populace and heightened disposable income propel amplified investments in bridal assortments, establishing it as a pivotal market within the global gems and jewelry landscape.
The gems and jewelry market is experiencing growth driven by sustainability and ethical sourcing trends, with lab-grown diamonds gaining popularity. Customization and personalization are increasingly important in the industry, reflecting consumer demand. The online jewelry retail growth supports this trend, while the luxury jewelry market continues to expand. Additionally, the resurgence of gold jewelry and emerging gems and jewelry trends are shaping the future of the market, as highlighted in recent growth analysis reports.
What will be the Gems and Jewelry Market Size During the Forecast Period?
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How is the Gems and Jewelry Market Segmented?
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
Distribution Channel Outlook
Offline
Online
Type Outlook
Gold
Platinum
Silver
Diamond
Gemstones
Region Outlook
North America
The U.S.
Canada
Europe
The U.K.
Germany
France
Rest of Europe
APAC
China
India
South America
Chile
Argentina
Brazil
Middle East & Africa
Saudi Arabia
South Africa
Rest of the Middle East & Africa
By Distribution Channel
The market share growth by the offline segment will be significant during the forecast period. The revenue of the offline distribution channel comes from the sales of products through speciality stores (including exclusive brand stores, multi-brand stores, and premium fashion stores); hypermarkets, supermarkets, and clubhouse stores; and department stores. Over the years, the revenue of the offline distribution channel has witnessed a gradual decline due to the shift in consumer preference toward online jewelry. To fuel sales through offline channels, players are managing their sales through store expansions in the local and regional markets, which will increase the growth of the segment during the forecast period.
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The offline segment was valued at USD 166.90 billion in 2018 and continued to grow by 2022. In this segment, companies are also accelerating their offline sales by widening their store operations at different geographic locations. This helped the company generate and sell products efficiently and cater to every consumer category in large geographic areas. This not only raises the sales of jewelry products but also fuels the sales of the market. The huge growth in retail channels in different cities and regions will drive customer familiarization with different types of gems and jewelry. It will also increase the value sales of the market during the forecast period. Although the offline distribution channel is losing its market and popularity to the online channel, extensive and innovative marketing will drive sales through the channel at a steady rate.
Regional Analysis
APAC is estimated to contribute 61% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. In 2022, the market in APAC was the largest segment of the market and is expected to grow at a significant rate as compared to other regions. The growth of the market in APAC is attributable to the rising economic growth, expanding middle-class population base, and a growing number of players operating in the region. The key leading countries in the region are China, India, and Japan. The strong contribution from China and India to the market was majorly due to the great demand (especially those that are made of gold). Such factors will stimulate gems and jewelry market growth during the forecast period.
For more insights on the market share of various regions, View the Sample PDF now!
Countries such as India, China, Australia, Malaysia, and Japan were severely
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The UK imitation jewellery market fell markedly to $X in 2020, which is down by -X% against the previous year. Over the period under review, consumption continues to indicate a noticeable curtailment. The pace of growth was the most pronounced in 2013 when the market value increased by X% year-to-year. Over the period under review, the market hit record highs at $X in 2009; however, from 2010 to 2020, consumption failed to regain the momentum.
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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.
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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.
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The United Kingdom Gems & Jewelry market is expected to reach market size of more than USD 8.50 Billion by 2028.
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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 |
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Costume Jewelry Market Size 2024-2028
The costume jewelry market size is forecast to increase by USD 21.17 billion, at a CAGR of 8.28% between 2023 and 2028.
The market is experiencing significant growth, driven by the increasing number of fashion-conscious consumers seeking affordable yet stylish jewelry accessories such as rings. This trend is further fueled by the continuous innovation in designs, particularly in the premium segment, which appeals to consumers desiring unique and high-quality pieces. However, the market faces challenges from both established companies and the unorganized sector, intensifying competition and putting pressure on pricing.
Companies must navigate these challenges by focusing on differentiation through innovative designs, quality, and customer experience to maintain market share and capitalize on the growing demand for costume jewelry.
What will be the Size of the Costume Jewelry Market during the forecast period?
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The market continues to evolve, shaped by dynamic market trends and consumer preferences. Fashion jewelry, a key segment, adapts to current styles and trends, while lead-free jewelry gains traction due to increasing environmental consciousness. Online retail and wholesale distribution channels expand, influencing pricing strategies and retail packaging requirements. Cubic zirconia and other alternative gemstones, such as glass beads and faux pearls, are popular alternatives to natural stones. Brand positioning and customer segmentation play crucial roles, with e-commerce platforms enabling access to diverse consumer demographics. Wholesale packaging and retail packaging solutions cater to various needs, ensuring product protection and allure.
Display cases and jewelry boxes are essential for showcasing collections in retail settings. Customer service and quality control are paramount, with ethical sourcing and sustainable practices becoming increasingly important. Trend forecasting and design trends influence the market, with vintage jewelry and handmade jewelry gaining popularity. Consumer preferences for allergy-safe materials, recycled materials, and nickel-free jewelry continue to shape the market. The market's continuous unfolding is evident in the emergence of sustainable jewelry and ethical sourcing practices. Supply chain management and cleaning methods are critical considerations for maintaining a competitive edge. Antique jewelry adds depth to the market, appealing to collectors and those seeking unique pieces.
In this ever-evolving landscape, market players must remain agile, adapting to changing consumer preferences and market dynamics. The market is a vibrant, diverse, and dynamic industry, offering endless opportunities for innovation and growth.
How is this Costume Jewelry Industry segmented?
The costume 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.
End-user
Female
Male
Distribution Channel
Offline
Online
Geography
North America
US
Europe
Germany
UK
APAC
China
Japan
Rest of World (ROW)
By End-user Insights
The female segment is estimated to witness significant growth during the forecast period.
The market caters to a diverse range of consumers, with females comprising the largest segment. Their preference for various options and styles drives the demand for this affordable alternative to fine jewelry. Costume jewelry is predominantly crafted from base metals like brass, aluminum, and copper. Its popularity stems from its ability to resemble precious metal-made pieces through techniques such as sterling silver and gold plating, cubic zirconia, and faux pearls. Trade shows and fashion shows serve as platforms to showcase the latest trends and designs, while e-commerce platforms facilitate easy access to these products. Repair services ensure the longevity of costume jewelry pieces, and cleaning methods maintain their shine.
Vintage jewelry adds an element of uniqueness to the market, while sustainable and ethical sourcing aligns with consumer preferences. Marketing strategies focus on customer segmentation and pricing strategies to cater to various demographics. Display cases, retail packaging, and jewelry boxes add to the overall appeal and presentation. Wholesale distribution and supply chain management ensure a steady flow of inventory. Glass beads, plastic beads, metal beads, stone beads, and recycled materials contribute to the vast array of materials used in costume jewelry production. Design trends favor sustainable and allergy-safe materials, such as nick
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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
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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
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The United Kingdom pearl jewellery market will add over USD 370 million by 2030, with events like London Fashion Week boosting luxury demand.
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Market Size statistics on the Watch & Jewellery Wholesaling industry in the UK
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Fine 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 | Edge of Ember, Maria Black, Astley Clarke, Catbird, Loren Stewart, WWAKE, Jacquie Aiche, N+A New York, Felt London, Monica Vinader, Sarah & Sebastian, Hirotaka, Natasha Schweitzer, San Souers, Laurie Fleming Jewellery, Meadow Lark, I and I Jewellery, Sophie Bille Brahe, Hannah Martin |
| SEGMENTS COVERED | By Product Type - Necklaces, Earrings, Bracelets, Rings, Pendants By Application - Women, Men By Sales Channels - Direct Channel, Distribution Channel By Geography - North America, Europe, Asia-Pacific, South America, Middle East and Africa |
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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.