The Worldwide Luxury Jewelry Industry is Projected to Reach $40 Billion by 2031 - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--Nov 10, 2022--

The "Luxury Jewelry Market By Product Type, By Application, By Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.

The global luxury jewelry market was valued at $21,751.6 million in 2021, and is projected to reach $40,190.7 million by 2031, registering a CAGR of 6.4% from 2022 to 2031.

The necklaces segment was the highest revenue contributor to the market, and is estimated to reach $9,895.7 million by 2031, with a CAGR of 5.9%.

Luxury jewelry involves creation of jewelry using precious stones or metals. The products included in the luxury jewelry market are necklaces, rings, earnings, bracelets, and others.

Changes in lifestyle, a rise in disposable income, an increase in the price of precious metal jewelry, an increase in fashion consciousness, and variations in packaging styles and appealing marketing strategies all contribute to the market's growth. However, factors impeding market growth include an increase in the price of raw materials used in luxury jewelry and the jewelry's limited period popularity.

Conversely, increased urbanization, design innovations, and a surge in demand for men's luxury jewelry provide potential opportunities for manufacturers to innovate and develop new products based on consumer preferences.

The COVID-19 pandemic had a significant impact on markets across all industries, with the number of COVID-19 cases increasing by the day. The virus outbreak also had an impact on luxury jewelry industry. As the lockdown continues, demand has fallen and losses have begun to rise.

The lockdown, which was necessary in the interests of the people, occurred unexpectedly and in March, which is the end of the fiscal year, affecting targets and actual business. Moreover, March is the month in which the final bookkeeping is delayed, all of which has a significant impact on all businesses, including the luxury Jewelry market.

Key Benefits

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the luxury jewelry market analysis from 2021 to 2031 to identify the prevailing luxury jewelry market opportunities.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the luxury jewelry market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global luxury jewelry market trends, key players, market segments, application areas, and market growth strategies.

Key Market Segments

By Product Type

• Necklaces
• Ring
• Earrings
• Bracelets
• Others

By Application

• Men
• Women
• Children

By Distribution Channel

• Online
• Offline

By Region

• North America
• U.S.
• Canada
• Mexico
• Europe
• Germany
• U.K.
• France
• Italy
• Spain
• Rest of Europe
• Asia-Pacific
• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia-Pacific
• LAMEA
• Brazil
• Argentina
• UAE
• Saudi Arabia
• South Africa
• Rest of LAMEA

Key Market Players

• Avon Products Inc
• Chopard International SA
• Giorgio Armani S.p.A
• GRAFF
• Guccio Gucci S.p.A
• LVMH
• MIKIMOTO
• Prada S.p.A
• Signet Jewelers Limited
• Sukkhi Fashion Jewelry
• Swarovski Group
• Tanishq
• Tribe Amrapali
• Youbella

For more information about this report visit https://www.researchandmarkets.com/r/ryl5lx

View source version on businesswire.com:https://www.businesswire.com/news/home/20221110005777/en/

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KEYWORD:

INDUSTRY KEYWORD: RETAIL LUXURY JEWELRY FASHION

SOURCE: Research and Markets

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