Latin America Jewellery Market Report and Forecast 2023-2028

According to the report, the Latin American jewellery market attained a value of USD 8.12 billion in 2022. The market is estimated to grow at a CAGR of 6.3% during 2023-2028 to reach a value of USD 11.67 billion by 2028. Aided by an increasing disposable income, a strong cultural connection to jewellery, and the burgeoning e-commerce platforms, the market is expected to grow signficantly by 2028.

Jewellery in Latin America is more than a mere accessory. It holds deep cultural, historical, and emotional significance for its people. Ranging from gold to silver to gemstones, jewellery pieces often carry stories of heritage, passed down through generations, or mark important life events, such as weddings, anniversaries, or coming-of-age ceremonies.

As per the Latin America jewellery market analysis, the surge in disposable income in major Latin America economies like Brazil, Mexico, and Argentina has led to increased purchasing power among consumers. This economic upliftment has encouraged the populace to invest more in luxury items, with jewellery standing out as a prime choice, both for personal use and as an investment avenue.

In addition to traditional purchasing methods, the digital evolution has played a pivotal role in the Latin America jewellery market growth. The burgeoning e-commerce platforms, bolstered by seamless online transactions and innovative digital marketing strategies, have allowed consumers to explore a wide variety of jewellery designs from the comfort of their homes. This ease of access, coupled with the assurance of authenticity provided by prominent online jewellery vendors, has significantly boosted online jewellery sales in the region.

One of the crucial Latin America jewellery market trends stimulating market growth is the rising popularity of artisanal and handcrafted jewellery. The Latin American region, rich in its cultural tapestry, houses numerous local artisans who craft unique, bespoke jewellery pieces that resonate with cultural narratives and artistic expressions. As global consumers increasingly seek original and ethically made products, Latin America's handcrafted jewellery segment has garnered considerable international attention and demand.

Furthermore, Latin America's reputation as a prominent source of high-quality gemstones like emeralds, sapphires, and amethysts, has fortified its position in the global jewellery arena, further increasing the value of the Latin America jewellery market size. Brazil, in particular, stands out as a major exporter of gemstones, and this abundance of natural resources gives the region a competitive edge in crafting exquisite jewellery pieces that are in high demand both domestically and internationally.

Market Segmentation

The market can be divided based on product, material type, category, type, end use, distribution channel, and country.

Market Breakup by Product

• Necklace
• Ring
• Earrings
• Charms and Bracelets
• Others

Market Breakup by Material Type

• Silver
• Gold
• Platinum
• Diamond
• Others

Market Breakup by Category

• Branded
• Unbranded

Market Breakup by Type

• Real/Fine
• Costume

Market Breakup by End Use

• Men
• Women

Market Breakup by Distribution Channel

• Offline
• Online

Market Breakup by Country

• Brazil
• Mexico
• Argentina
• Chile
• Others

Competitive Landscape

The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the LATIN AMERICA jewellery market.

Some of the major players explored in the report are as follows:

• Vivara Participacoes S.A
• Kering
• LVMH Moet Hennessy (Louis Vuitton)
• Compagnie Financière Richemont SA
• Pandora A/S
• Morana
• HStern Industria e Comercio SA
• Swarovski AG
• Pepe Dominguez Silver Jewelry
• Others

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The analyst always strives to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.