Editor’s Note
This article provides a concise overview of the global jewelry market’s current valuation and projected growth, highlighting the Asia-Pacific region’s dominant position. The data underscores a sustained consumer shift toward luxury goods.
The global jewelry market size was valued at USD 232.94 billion in 2024 and is projected to grow from USD 242.79 billion in 2025 to USD 343.90 billion by 2032, exhibiting a CAGR of 5.10% during the forecast period. Asia-Pacific dominated the jewelry market with a market share of 39.28% in 2024.
There is an upward trend in jewelry consumption, as more people are turning to luxury products. Various positive attributes of the product include helping to highlight specific body features, showcasing fashion trends/styles, and helping to enhance appearance. The growing popularity of this product among high-income individuals as a symbol of high status contributes to accelerating the consumption rate. The increasing demand for contemporary jewelry and the growing number of designers entering the market continue to contribute to market growth.
Market Size 2024: USD 232.94 Billion
Market Size 2025: USD 242.79 Billion
Projected Market Size 2032: USD 343.90 Billion
CAGR: 5.10% from 2025 to 2032
Asia-Pacific dominated the global jewelry market with a share of 39.28% in 2024, driven by the presence of major regional brands such as Tanishq, Malabar Gold & Diamonds, and Qeelin, and supported by cultural preferences for gold and diamond ornaments in India, China, and Southeast Asia.
By product, rings are expected to retain the largest market share during the forecast period, fueled by strong demand for customized engagement and wedding jewelry. Customization options offered by brands like Tiffany & Co. increase consumer appeal.
In terms of material, diamonds hold the dominant share, supported by their popularity among celebrities and influencers, as well as demand for sparkling and high-end aesthetics.
India: The necklace segment is estimated to hold a market share of 23.13% in 2024, due to the cultural importance of gold, gift-giving traditions, and a growing middle-class population. The launch of Novel Jewels Ltd. by Aditya Birla Group in 2024 further supports local expansion.
United States: Home to leading brands like Tiffany & Co. and Signet Jewelers, the U.S. market benefits from strong luxury product consumption by affluent individuals and growth in online jewelry sales. Growing interest in jewelry among men and celebrity-driven diamond trends also contribute to growth.
China: (Note: The original content for China was incomplete. This section is included as a placeholder based on the structure, but no specific data was provided in the source text.)