Editor’s Note
This summary highlights key findings from a recent Yano Research Institute survey on Japan’s domestic jewelry market, detailing segment trends, competitive landscape, and future outlook.
Yano Research Institute Ltd. (President: Takashi Mizukoshi) has conducted a survey on the domestic jewelry market, revealing trends by product segment, market player activities, and future prospects.
The domestic jewelry retail market size for 2025 is forecasted to reach 1.207 trillion yen, representing 106.8% of the previous year’s figure.
While the Japanese economy continues to face uncertainty due to factors including Russia’s invasion of Ukraine, the conflict in Gaza involving Israel, and Trump-era tariffs, the jewelry retail market is projected to expand. This is primarily due to sustained high prices for gold bullion and a sharp rise in platinum prices, leading market players to continue revising selling prices upwards, thereby increasing the average unit price of products.
In addition to price increases, robust overall demand for jewelry is attributed to growing demand for lower-priced jewelry among the general population (beyond the affluent class) and a recovery in the bridal jewelry market accompanying a slight increase in the number of marriages (source: Ministry of Health, Labour and Welfare’s “Vital Statistics”).
The average unit price for bridal rings continued to rise significantly in 2024.
The average price for an engagement ring was 304,000 yen in 2023, reaching 318,000 yen in 2024 (preliminary), both exceeding 300,000 yen. The average price for a marriage ring (per person) rose from 76,000 yen in 2019 to 116,000 yen in 2023, reaching 133,000 yen in 2024 (preliminary).
Bridal rings tend to be purchased even as prices rise, as they are considered near-essential items. Consequently, in 2024, the average unit price for engagement rings increased by 4.6% year-on-year, and for marriage rings by 14.7%.
