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.

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.

The revenue in the 'Jewelry' segment of the accessories market in the United Kingdom was modeled to stand at *********** U.S. dollars in 2024. Between 2018 and 2024, the revenue rose by *********** U.S. dollars, though the increase followed an uneven trajectory rather than a consistent upward trend. The revenue will steadily rise by ************ U.S. dollars over the period from 2024 to 2030, reflecting a clear upward trend.Further information about the methodology, more market segments, and metrics can be found on the dedicated Market Insights page on Jewelry.

In UK Jewelry Market , was valued at approximately USD 10.11 billion in 2022 and is projected to reach USD 12.45 billion by 2029,

Discover how the UK jewelry market is set to experience growth driven by rising demand, with market volume projected to reach 610 tons and market value to hit $1.8B by 2035.

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

Discover the latest forecast for the jewelry market in the UK, with expectations of increased consumption over the next decade. Anticipated CAGR rates suggest growth in both market volume and value by 2035.

Gain insights into the UK Beaded Jewelry Market, size at USD 265 million in 2023, showcasing key trends and future opportunities.

This statistic shows the quarterly value of jewelry, bijouterie and related articles exported from the United Kingdom (UK) between 2nd quarter 2015 and 2nd quarter 2024. In the second quarter of 2024, UK exports of jewelry were worth nearly *** billion British pounds.

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.

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

The market for shared luxury jewelry in the United Kingdom (UK) generated an estimated revenue of approximately ***** million U.S. dollars in 2020. Revenue of this market is forecast to increase continuously in the next five years, reaching to about ***** million U.S. dollars in 2025.

Over the five years through 2025-26, revenue is forecast to grow at a compound annual rate of 8.1% to £2.6 billion. Such a significant increase is partly due to a low base year; revenue took a hit in 2020-21, the height of the COVID-19 pandemic, as job insecurity postponed purchases on discretionary items like watches and jewellery. Since then, industry performance has risen, driven by a growing interest in luxury watches and jewellery from Gen Z, who also prefer to shop online rather than in-store. This is helping drive online sales of watches and jewellery, which in the past were often sold in-store due to their hefty price tags and the need for tactile inspections to see if they're the right fit. The cost-of-living crisis weighed on household disposable income in 2023-24. Brits held back on spending on luxury items, dampening revenue, while climbing input prices, like for gold, raised purchase costs for online retailers. Weak demand and rising purchase costs limited profit. However, as gold prices rise, along with the price of gold jewellery, there’s been a corresponding hike in demand for demi-fine jewellery; it’s more affordable, containing less gold than traditional fine jewellery, lifting demand with its sleek designs and inexpensive price points. In 2025-26, revenue is expected to climb by 2.5%. Revenue is forecast to expand at a compound annual rate of 4.5% over the five years through 2030-31, reaching £3.3 billion. The luxury retail industry will face numerous challenges, including direct-to-consumer sales giving brands more supply chain control. Nonetheless, growth opportunities remain. Consumers will become increasingly vigilant about the goods they buy and question where they come from, particularly as more members of Gen Z enter the workforce and becomes the newest source of spending power. To meet changing market values, retailers may adapt and be transparent about supply chains or hone in on stocking items made from conflict-free and recycled materials.

Over the last two observations, the revenue is forecast to significantly increase in all segments. As part of the positive trend, the revenue reaches the maximum value for all two different segments at the end of the comparison period. Particularly noteworthy is the segment Luxury Watches, which has the highest value of *** billion U.S. dollars. Find further statistics on other topics such as a comparison of the average revenue per capita in New Zealand and a comparison of the average revenue per capita in Japan. The Statista Market Insights cover a broad range of additional markets.

Over the last two observations, the average revenue per capita is forecast to significantly increase in all segments. As part of the positive trend, the average revenue per capita reaches the maximum value for all two different segments at the end of the comparison period. Particularly noteworthy is the segment Jewelry, which has the highest value of ***** U.S. dollars. Find further statistics on other topics such as a comparison of the revenue in the world and a comparison of the average revenue per capita in Japan. The Statista Market Insights cover a broad range of additional markets.

United Kingdom Jewelry market was valued at USD 5.60 billion in 2024 and is anticipated to grow USD 7.89 billion by 2030 with a CAGR of 5.93%.

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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?

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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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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

In 2024, the UK imitation jewellery market increased by 1.3% to $348M, rising for the fourth consecutive year after four years of decline. In general, consumption showed a relatively flat trend pattern. Over the period under review, the market hit record highs in 2024 and is likely to see gradual growth in the immediate term.