Jewellery Manufacturing in the UK - Industry Market Research Report

Losing its shine: Jewellery makers face falling weak revenue growth as the cost-of-living crisis puts people off

Jewellery manufacturing revenue is forecast to contract at a compound annual rate of 5.8% over the five years through 2023-24 to £954.7 million. Before COVID19 hit, falling unemployment and rising disposable incomes supported jewellery sales. However, the pandemic sent shockwaves through the industry, wreaking havoc on commodity prices and prompting the introduction of lockdown restrictions, resulting in the decimation of downstream markets. Jewellery manufacturers revenue was supported, though, by the weak pound bolstering export markets and helping to keep imports at bay.

Companies in this industry manufacture jewellery and related articles from precious or base metals clad with precious or semi-precious stones. The manufacture of goldsmiths’ articles, watch straps and cigarette cases from precious metals is also included. Repair services and the manufacture of imitation jewellery are not covered.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.