As per the current market research conducted by Custom Market Insight Market Research Team, the global jewelry market size is expected to record a CAGR of 4.6 % from 2023 to 2030. In 2023, the market size is projected to reach a valuation of US$ 356.36 billion by 2030, the valuation is anticipated to reach US$ 488.21 Billion.
The jewelry market is propelled by the desires of consumers for stylish and distinctive pieces that can be worn on various occasions, such as weddings, birthdays, anniversaries, and other significant events, as reported by the Custom Market Insight Market Research Team.
Browse the full “Jewelry Market Size, Trends and Insights Product Type Outlook (Necklace, Ring, Earring, Bracelet, Others), Material Outlook (Platinum, Gold, Diamond, Others), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2022–2030” report at https://www.custommarketinsights.com/report/jewelry-market/
Key-Takeaways:
Mergers and Acquisitions
The jewelry market has seen a significant number of mergers and acquisitions in recent years. These business deals have been driven by a variety of factors, including the desire to expand market share, access new technologies, and increase operational efficiencies.
- One notable example is the acquisition of Tiffany & Co. by LVMH, the world’s largest luxury goods company. The deal, which was completed in 2021, was worth over $15 billion and gave LVMH a major foothold in the high-end jewelry market.
- Another recent merger in the industry was the union of Richemont’s online luxury retailer, YOOX Net-a-Porter, with the online jeweler Watchfinder. The deal was valued at $254 million and gave Richemont a stronger presence in the growing online luxury market.
- Other notable mergers and acquisitions in the jewelry market include Signet Jewelers’ acquisition of Zale Corporation, and Chow Tai Fook’s acquisition of Hearts On Fire.
Overall, mergers and acquisitions are expected to continue playing a significant role in shaping the jewelry market, as companies seek to expand their reach and gain a competitive edge in an increasingly crowded and competitive industry.
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The Jewelry Market has Several Major Market Prospects that are expected to shape the Industry’s Growth in the Coming Years.
These Prospects Include:
- Increasing Demand for Sustainable and Ethical Jewelry: Consumers are becoming more conscious of the environmental and ethical impacts of their purchases, and this trend is driving demand for sustainably and ethically sourced jewelry. Companies that can demonstrate their commitment to sustainability and ethical practices are likely to benefit from this growing market trend.
- Rise Of Online Jewelry Sales: The growth of e-commerce has transformed the jewelry industry, and online sales are expected to continue to rise in the coming years. This trend is driven by the convenience and accessibility of online shopping, as well as the ability to compare prices and products across multiple retailers.
- Growing Demand for Customized Jewelry: Consumers are increasingly seeking personalized and unique jewelry pieces that reflect their individual styles and personality. Companies that can offer customizable options are likely to see growth in this market segment.
- Increasing Demand from Emerging Markets: As incomes rise in emerging markets such as China and India, there is a growing demand for luxury goods such as jewelry. Companies that can successfully tap into these markets are likely to see significant growth opportunities.
- Technological Advancements: Advances in technology such as 3D printing and artificial intelligence are transforming the jewelry industry, allowing for greater customization and efficiency in production. Companies that can embrace and leverage these technological advancements are likely to gain a competitive advantage.
Overall, the jewelry market is poised for significant growth in the coming years, driven by evolving consumer preferences and emerging market opportunities, as well as advancements in technology.
Some of the key players operating in the global jewelry market include: –
- Buccellati
- Cartier
- Chow Tai Fook Jewelry Company Limited
- LVMH Group
- Malabar Gold & Diamonds
- PANDORA JEWELRY LLC
- SHR Jewelry Group
- Tata Sons Private Ltd
- The Swatch Group AG
- Tiffany & Co
- Pandora
- Louis Vuitton SE
- Richemont
- GRAFF
- Signet Jewelers Limited
- Stern
- Swarovski AG
- Others
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