Editor’s Note
This article summarizes key findings from a recent Yano Research Institute survey on Japan’s domestic jewelry market. The report analyzes segment trends, corporate activities, and future outlooks, providing valuable insights for industry stakeholders.
Yano Research Institute Ltd. (President: Takashi Mizukoshi) has conducted a survey on the domestic jewelry market, revealing trends by product segment, market entry activities by companies, and future prospects.
The domestic jewelry retail market size for 2025 is forecasted to be 1.207 trillion yen, representing 106.8% of the previous year’s figure.
The Japanese economy continues to face an uncertain outlook due to factors including Russia’s invasion of Ukraine, the conflict in Gaza by Israel, and Trump tariffs. However, the jewelry retail market is expected to expand as the soaring prices of gold bullion continue beyond 2025, coupled with a sharp rise in platinum prices, leading jewelry market participants to continue revising their selling prices upward, thereby increasing product unit prices.
In addition to price increases, the main factors are believed to be the robust overall demand for jewelry, supported by increased demand for low-priced jewelry from the general public beyond the affluent class, and the recovery of the bridal jewelry market accompanying a slight increase in the number of marriages (data source: Ministry of Health, Labour and Welfare “Vital Statistics”).
The average unit price for bridal rings in 2024 has continued to rise significantly from the previous year.
The average price for engagement rings was 304,000 yen in 2023, reaching 318,000 yen in 2024 (preliminary), both exceeding 300,000 yen. The average price for marriage rings (per person) was 76,000 yen in 2019, rose to 116,000 yen in 2023, and reached 133,000 yen in 2024 (preliminary).
Bridal rings tend to be purchased even as prices rise, indicating they are considered near-essential items. Consequently, in 2024, the unit price for engagement rings increased by 4.6% year-on-year, and for marriage rings by 14.7%.
1. Survey Period: September 2024 to August 2025
2. Survey Subjects: Jewelry specialty store chains, department stores, watch & jewelry stores, and companies from other industries (e.g., kimono fabric retailers) entering the jewelry market, import jewelry brand companies, etc.
3. Survey Method: Combination of direct interviews (including online) by our specialist researchers, telephone hearings, and mailed questionnaires.
Definition of the Domestic Jewelry Retail Market in this Survey:
In this survey, “jewelry” primarily refers to ornaments made from materials such as gold or platinum, using diamonds, precious stones, pearls, etc. It includes jewelry watches and some products made from silver or semi-precious stones. The market size is calculated based on retail sales value.