Editor’s Note
Japan’s jewelry market is poised for significant growth, projected to nearly quadruple in value over the next decade. This forecast highlights a dynamic industry where enduring demand for precious metals meets evolving consumer tastes for pieces that blend tradition with modern expression.
Japan’s jewelry market is projected to expand from USD 6.9 billion in 2024 to USD 26.9 billion by 2033, growing at a compound annual growth rate (CAGR) of 3.90% during the forecast period from 2025 to 2033. The Japanese jewelry industry possesses unique market characteristics that blend traditional aesthetics with modern design sensibilities. Consumer demand for precious metals such as gold and platinum remains robust, and there is a growing popularity for jewelry that expresses individuality, particularly among younger generations. These shifts in consumer behavior are underpinning the market’s growth.
The Japanese market continues to see competition between established domestic brands and international luxury brands. Japanese brands like Mikimoto and Tasaki maintain high trust by leveraging their craftsmanship and quality. On the other hand, global brands such as Tiffany, Cartier, and Bulgari are expanding their store networks, primarily in urban areas, and attracting younger consumers with marketing strategies that combine global design with premium experiences. In recent years, international brands have increasingly utilized online platforms to acquire new customers, making e-commerce sales a key factor in market expansion.
Modern Japanese consumers are increasingly viewing jewelry not just as a “commemoration for special occasions” but as part of “daily self-expression.” Accompanying this shift in perception, demand is growing for customizable jewelry and ethical jewelry made from sustainable materials. Furthermore, the adoption of digital technologies, such as AI-powered virtual try-on features and jewelry design exhibitions in the metaverse, is advancing, creating new purchasing experiences that blend online and offline channels. This digital innovation is stimulating purchasing intent, particularly among Gen Z and Millennials.
With rising consumer awareness, sustainable material sourcing and environmentally conscious manufacturing processes are becoming new standards in the jewelry industry. In particular, the adoption of recycled gold and lab-grown diamonds is increasing, and the construction of transparent supply chains is influencing corporate credibility. Consumers are now interested not only in design and price but also in “how it was made,” with brands’ ethical stances impacting purchasing decisions. In the Japanese market, this sustainability-focused movement is spreading rapidly, especially among young female consumers and conscious urban consumers.
The market for life-event jewelry, such as wedding and engagement rings, is also on a recovery trend. Particularly popular are designs that emphasize individuality and gender-neutral rings that can be worn by both men and women. In the gift market, demand is increasing for diverse occasions beyond birthdays and anniversaries, such as promotions, graduations, and self-rewards. This expansion of gift demand contributes to the annual stabilization of jewelry sales, and brands are strengthening their year-round campaign strategies.
In the jewelry industry, new jewelry designs utilizing digital design technologies (CAD/CAM) and 3D printing are gaining attention. This facilitates complex shapes and custom designs for individual customers, expanding the made-to-order market. Additionally, blockchain technology for gemstone authenticity verification is advancing, contributing to counterfeit prevention and transaction transparency. These technological innovations are key elements for the Japanese jewelry industry to balance “tradition and innovation.”
Japan’s jewelry market is seeing sales expansion for high-end jewelry not only in major metropolitan areas like Tokyo and Osaka but also in regional cities and tourist destinations. The recovery of inbound tourism is boosting sales of high-priced items at duty-free shops and department stores. Moreover, craft jewelry from local workshops and designers is attracting attention domestically and internationally, with the quality and aesthetics of “Made in Japan” being re-evaluated in the global market. Going forward, the expansion of digital sales channels, growth in ethical production, and strengthening of brand strategies aligned with the values of the next generation of consumers are expected to further accelerate the growth of Japan’s jewelry market.
