Gems and Jewellery Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2021-2031

The Global Gems and Jewellery Market is projected to expand from USD 431.57 Billion in 2025 to USD 610.46 Billion by 2031, registering a CAGR of 5.95%. This industry encompasses the commerce of precious metals like silver, platinum, and gold, along with high-value gemstones such as diamonds and colored stones, principally used for personal decoration and investment purposes. The market's upward trajectory is largely fueled by increasing disposable incomes within emerging nations and the profound cultural importance of jewellery in wedding customs and celebratory gifting. Furthermore, the persistent view of these precious materials as stable assets ensures steady demand that operates independently of fleeting fashion trends.

However, the sector confronts substantial hurdles related to price instability and elevated raw material expenses, which limit growth in terms of volume. According to the World Gold Council, global demand for gold jewellery fell by 11% to 1,877 tonnes in 2024, even though the total value of this demand increased by 9% to a record US$144 billion driven by rising prices. This contrast underscores how soaring costs can restrict access for mass-market buyers, establishing a barrier to wider market development even as the sector maintains high value retention.

Market Drivers

The market is being fundamentally transformed by the swift uptake of lab-grown diamonds and gemstones, which are democratizing luxury access and meeting ethical consumption standards. Shoppers are increasingly favoring these options because they offer physical properties identical to natural stones at significantly lower prices, enabling higher sales volumes even amidst economic challenges. Major brands are responding by expanding their offerings to secure this burgeoning market segment; for instance, Pandora’s 'Interim Financial Report Q3 2024' from November 2024 noted that their lab-grown diamond division generated DKK 64 million in revenue, marking a strong 34% like-for-like increase over the prior year, proving this category is becoming a vital revenue source for organized retail.

Concurrently, the expansion of e-commerce and digital retail platforms is driving a structural shift in jewellery discovery and purchasing habits. Retailers are actively adopting digital tools to build seamless omnichannel journeys that resonate with younger, tech-savvy consumers. As reported in Signet Jewelers' 'Fiscal 2024 Annual Report' from May 2024, strategic digital investments successfully raised e-commerce penetration to roughly 23% of total sales. This digital readiness is key to maintaining demand, evidenced by Mastercard SpendingPulse data showing a 4% year-over-year rise in United States jewelry sales during the 2024 holiday season, emphasizing the durability of consumer spending when aided by accessible retail avenues.

Market Challenges

The principal obstacle obstructing the Global Gems and Jewellery Market is the rising expense of raw materials coupled with price instability. As precious metals such as gold and silver hit historic highs, immediate affordability for mass-market consumers is significantly reduced. This spike in prices creates a gap between the inherent appeal of these products and the financial capacity of average buyers, necessitating a transition toward lighter designs or the indefinite postponement of purchases. Consequently, although market value might seem strong due to higher unit prices, the actual trade volume is shrinking, signaling a reduction in the customer base for traditional heavyweight jewellery.

This decline in volume is clearly reflected in recent industry statistics that highlight the gravity of the situation. Data from the World Gold Council reveals that global gold jewellery consumption dropped to 371 tonnes in the third quarter of 2025, representing a substantial double-digit year-on-year decrease attributed specifically to the record high-price environment. Such patterns indicate that price sensitivity functions as a significant cap on market expansion, as sustained high entry costs deter entry-level shoppers and confine growth primarily to the premium luxury sector.

Market Trends

The rise of the Second-Hand and Vintage Jewellery Resale Market is becoming a pivotal trend as consumers increasingly view high-quality items as investment assets with demonstrated longevity. This sector is successfully separating itself from the general retail slowdown by attracting affluent purchasers who value vintage provenance and intrinsic material worth over new, mass-manufactured stock. Motivated by sustainability goals and a desire for unique aesthetics, the secondary market is exceeding the primary sector in terms of value retention; The RealReal's '2024 Luxury Resale Report' from August 2024 indicates that sales of fine jewelry valued at $5,000 and above rose by 22% year-over-year, marking the fastest growth among all luxury categories on the platform.

Simultaneously, the shift from unbranded to Organized Branded Jewellery Retail is gaining speed as the market splits between commoditized bullion and high-margin, design-centric collections. While fluctuating gold prices have reduced interest in traditional heavy plain gold jewellery, organized entities focusing on studded and value-added pieces are winning market share through distinct brand equity and superior craftsmanship. This transition enables manufacturers to offset raw material price sensitivity by highlighting the product's artistic merit rather than metal weight, a strategy supported by the Gem & Jewellery Export Promotion Council (GJEPC) July 2024 'Gem & Jewellery Trade Trends' report, which showed studded gold jewellery exports grew 14.55% to US$1.34 billion in the April-June 2024 quarter, contrasting sharply with the decline in the unbranded sector.

Key Players Profiled in the Gems and Jewellery Market

• LVMH Group
• PANDORA JEWELRY LLC
• Richemont SA
• The Swatch Group AG
• Chow Tai Fook Jewelry Company Limited
• Tata Sons Private Ltd.
• De Beers Jewellers US Inc.
• Swarovski Crystal Online AG
• Signet Jewelers
• Chow Tai Fook Jewellery Company Limited

Report Scope

In this report, the Global Gems and Jewellery Market has been segmented into the following categories:

Gems and Jewellery Market, by Product Type:

• Rings
• Necklaces
• Earrings
• Bracelets
• Chains
• Pendants

Gems and Jewellery Market, by Distribution Channel:

• Offline
• Online

Gems and Jewellery Market, by Region:

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Gems and Jewellery Market.

Available Customization

The analyst offers customization according to your specific needs. The following customization options are available for the report:

• Detailed analysis and profiling of additional market players (up to five).

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