Editor’s Note
This article highlights the Spanish jewelry sector’s robust performance in 2024, achieving over €2.1 billion in turnover with significant growth despite economic headwinds. Key drivers include gold’s status as a safe-haven asset and evolving consumer trends toward emotional investment and personalization.
The Spanish jewelry sector closed 2024 with a turnover exceeding 2.1 billion euros, growing 10.5% compared to 2023, despite inflation and pressure on average consumption (Informa D&B, 2024). This progress was supported by gold as a safe-haven asset, the consolidation of jewelry as an emotional investment, and the search for personal differentiation (RTVE, 2024; Invesco, 2024).
Overall, the top five operators in the sector accounted for 42% of total sales in 2023, while the top ten reached 57%, confirming the growing market concentration and pressure on independent retailers (EmpresaActual, 2024).
In 2025, the market continues to show signs of strength. However, independent retailers face additional challenges from new regulations on silver manufacturing, which have increased costs and restricted certain traditional processes (Carretero, 2025). This regulation, aimed at ensuring metal traceability and sustainability, requires technical adaptations and greater documentary control, putting small workshops that depend on tight margins in check.
Despite these obstacles, artisanal jewelry is emerging as the great strategic opportunity for the coming years. The growing demand for unique, personalized, and sustainable pieces reinforces the value of craftsmanship against mass production. Increasingly, customers seek in jewelry not just an accessory, but a personal and emotional narrative (El País, 2024).
According to Fortune Business Insights (2024), the global trend towards experiential and conscious luxury is consolidating, especially among young consumers (millennials and Gen Z), who prioritize authenticity and ethics in their purchasing decisions. This audience values exclusivity over logos and wishes to contribute to more responsible consumption models.
Furthermore, digitalization has allowed many independent workshops to combine tradition and technology: offering online co-creation experiences, advanced personalization, and total product traceability (The Luxonomist, 2024). The customer no longer just buys a piece of jewelry but becomes an active part of the creative process.
The new silver regulation, in effect since mid-2025, forces artisans to certify the ethical origin and refining processes. This measure aims to reduce environmental impact and strengthen sustainable competitiveness against external markets. While it poses a logistical and financial challenge, it also represents an opportunity to reposition the artisanal workshop as a benchmark for quality and transparency (Carretero, 2025).
In the short and medium term, the market will become even more clearly divided into two segments: on one hand, mass commerce dominated by chains and large groups; on the other, a growing niche of artisanal and personalized jewelry that will seek to capitalize on emotional added value and authenticity.
Data shows that the sector will continue to grow, with a forecast to reach 2.3 billion euros in 2026, driven by luxury tourism and the consolidation of jewelry as an investment and identity expression (Fortune Business Insights, 2024; Informa D&B, 2024).
In an increasingly regulated and competitive environment, artisanal jewelry will not only survive but will become the true engine of differentiation and customer loyalty. Transforming regulatory difficulties into value propositions, leveraging emotional narratives, and strengthening the bond with the customer are the keys to ensuring a prosperous future.
However, for this artisanal revival to be sustainable, it is essential to promote the training and regeneration of young talent, ensuring generational succession and securing the survival of traditional crafts. Here, formal education stands as a fundamental pillar.
The development of specific vocational training cycles in jewelry, both intermediate and higher levels, will equip future artisans with the technical, creative, and digital competencies demanded by the current market. Furthermore, it is urgent to offer basic programs adapted to young people who have not completed compulsory secondary education (ESO), as an inclusive and motivating pathway to discover a creative and promising trade.
Jewelry, understood as art and cultural expression, offers young people an opportunity to find a dignified professional path with international projection, in contrast to the increasing automation and standardization of other sectors. These educational pathways not only train skilled hands but also entrepreneurial minds capable of innovating and creating new brand narratives.
The artisanal workshop of the future will need not only tradition but also new generations that are prepared and proud of their craft. Investing in training is, ultimately, investing in the permanence and rebirth of Spanish jewelry art as a symbol of authenticity and cultural value.