The Vietnam jewellery market size was valued at USD 1.20 Billion in 2024 . The industry is expected to grow at a CAGR of 3.90% during the forecast period of 2025-2034. Demand for jewellery in Vietnam will grow with the rising innovations, rapid technological integration and surge in import activities. In turn, all these factors have resulted in the market to likely attaine a valuation of USD 1.76 Billion by 2034 .
Earrings are likely to witness a dominance in the country mainly on account of the expanding female population. The increasing activities for the introduction of new and tailor-made earrings will add to the segment growth. In April 2022, Vietnam Airlines-operated shopping platform VNAMALL launched a new line of co-branded earrings, inspired by lotuses and pearls, fabricated by top Vietnamese artisans.
The Vietnam jewellery industry outlook will also be influenced by the rising demand for charms and bracelets as they cater to men, women and kids. With adjustable designs and intricate details, premium-quality charm bracelets are gaining popularity as they are crafted to add a touch of elegance to any outfit.
Diamonds are recording wide preference across the country due to the presence of some of the most distinguished and prominent companies. The significant efforts placed on ramping up the production of lab-grown diamonds to cater to the rising regional consumer requirements will boost the product uptake.
Meanwhile, the demand for platinum in the Vietnam jewellery industry is expected to grow with the evolving consumer preferences and growing interest in precious metals. According to industry reports, Vietnam imported USD 10.4 millions of platinum in 2023.
Unbranded jewellery will record strong demand due to the surge in the number of local artisans and their constant efforts on product innovations. In September 2024, Vietnam Law & Legal Forum magazine revealed that the Dinh Cong village in Hanoi specializes in applying special techniques for making unique intricate silver objects.
The expanding female population coupled with the ease of access to a wide range of accessories are prominent drivers influencing the higher adoption of jewellery amongst women. According to UN’s World Population Prospects 2024, the number of females in Vietnam stood at 51.53 million.
The growing number of offline stores along with their increasing preference as they offer a better purchasing experience will enhance the segment growth. In April 2023, Luxury jewellery brand Tiffany & Co. opened its new store in Ho Chi Minh City, following the launch of its first store in Hanoi.
Other key players in the Vietnam jewellery market report are HUY THANH GOLD, SILVER AND GEMSTONE COMPANY LIMITED, Skymond Luxury, Cartino, and HALONG GOLD AND GEMSTONE CO., LTD.
Vietnam Jewellery Market Report Summary
Market Size 2024
- USD Billion 1.20
Market Size 2034
- USD Billion 1.76
- CAGR 2025-2034
- 3.90%
CAGR 2025-2034 - Market by Product Type
- Ring
- 4.4%
CAGR 2025-2034 - Market by Material Type
- Gold
- 4.3%
Vietnam Jewellery Market Growth
The rising intervention from both governing and non-governing bodies to lower the raw material prices will impact the Vietnam jewellery market share. In June 2024, the State Bank of Vietnam started the sale of gold directly to four state-owned commercial banks in a bid to lower the metal’s domestic price. Vietnam offers affordable precious metals, high-quality gems, and exquisite designs as it is home to most of the finest jewellery shops in Asia. The rising number of stores launches along with the growing popularity of pearl jewellery on account of the surging number of pearl farms will favor the market expansion.Key Trends and Recent Developments
The Vietnam jewellery market size is expected to increase with the rising interest in gemstones, higher number of partnerships, surge in investments and growing government support.May 2024
Leading jewellery brand, Pandora invested USD 150 million to initiate the launch of a state-of-the-art crafting facility in Vietnam. The investment in Binh Duong Province marks an important expansion for Pandora as it works on setting up its first manufacturing site outside of Thailand.April 2024
Vietnam’s leading jewellery maker Doji Gold & Gems Group JSC expanded its investment portfolio from its pillar arm of gold and silver to banking, finance, and real estate. The company is also making substantial investments in northern localities, including Hai Phong city, as well as Quang Ninh and Vinh Phuc provinces whilst exploring opportunities in other areas.July 2023
India’a Gem & Jewellery Export Promotion Council (GJEPC) extended a special invitation to PNJ Group, Vietnam’s prominent jewellery manufacturer and retailer. Through this move, GJEPC plans to reinforce ties between the Indian and Vietnamese jewellery industries while fostering collaboration and exchange of knowledge.August 2022
Leading luxury fashion brand Hermès introduced H Equipe, its new jewelry line inclusive of bracelets, earrings and pendants sourced from buffalo horn and lacquered wood that is produced in Vietnam. The new line of jewelry products was produced by skilled craftsmen in the Vietnamese handicraft village.Popularity of gemstones
The Vietnam jewellery market share will grow with the rising production of high-quality gemstones, such as ruby, sapphire, aquamarine, spinel, and topaz given the diverse geology. On account of these factors, Vietnam has also been increasing its gemstone exports to countries, including Japan, Thailand, European countries and the United States. According to industry reports, Vietnam’s exports of precious metals, precious stones, and related articles surged by 19.4% in February 2025.Partnership strategies
The growing number of collaborative measures aimed at technological integration for offering improved shopping experiences to customers will add to the Vietnam jewellery market revenue. In September 2024, a leading artificial intelligence firm Appier disclosed its latest partnership with Vietnamese jewelry brand Huy Thanh Jewelry. This marked a significant milestone for Huy Thanh Jewelry as the integration of Appier's AIQUA will offer enhanced customer engagement and substantial growth in return on investment (ROI).Investment initiatives
The Vietnam jewellery market outlook will be impacted by the rising number of investments to assist rough diamond trading centers and polishing units. In January 2025, Vietnam secured USD 5 billion for establishing Asia’s first-ever integrated exchange, Asian Diamond Exchange (ADE) along with the International Financial Center (IFC) in Ho Chi Minh City. This investment helped lab-grown and rough diamonds traders across Vietnam.Government intervention
The increasing support from the government to work on widening gap the between the local prices of gold and silver as well as their international benchmarks will drive the Vietnam jewellery market. In June 2024, the Vietnam Gold Traders Association was in protracted talks with the regional government over measures for correcting the imbalance in the supply and demand of gold. Such measures will add to the demand for gold jewellery.Vietnam Jewellery Market Trends
The jewellery market in Vietnam is poised for expansion with the growing technological incorporation. Smart jewellery is gaining wide popularity across the country as it combines aesthetics and functionalities. High-end fashion wearables, including jewellery and bracelets are integrated with features, such as fitness monitoring, and notification alerts. The surge in government led reforms to boost imports and the growing adoption of augmented reality technology (AR) for improving the online sales of jewellery are other factors driving the overall industry growth. In June 2024, the Government of Vietnam allowed several companies, in over a decade, to import gold for the first time.Vietnam Jewellery Market Opportunities
The increasing usage of alternate materials for creating innovative accessories is one of the key factor which will likely boost the Vietnam jewellery market development. For instance, resin rings have grown popular as a modern art jewellery item, mainly amongst young people owing to their unique creativity. With its rich cultural history, jewellery manufacturing across the country has become a staple while holding significant investment opportunities. The booming tourism industry in Vietnam on account of expanded air connectivity and open visa policies is further driving the purchase of various jewellery items as gifts and souvenirs. According to industry reports, Vietnam tourism received over 17.5 million international visitors in 2024, up by 39.5% in 2023.Vietnam Jewellery Industry Segmentation
The Expert Market Research's report titled “Vietnam Jewellery Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:Breakup by Product Type
- Necklace
- Ring
- Earrings
- Charms and Bracelets
- Others
Breakup by Material Type
- Silver
- Gold
- Platinum
- Diamond
- Others
Breakup by Category
- Branded
- Unbranded
Breakup by End User
- Men
- Women
Breakup by Distribution Channel
- Online
- Offline
Breakup by Region
- Southeast
- Red River Delta
- Mekong River Delta
- South Central Coast
- Others
Vietnam Jewellery Market Share
Market Insights by Product Type
The increasing preference for rings driven by the growing interest in easy to wear accessories will increase the Vietnam jewellery market revenue. The rising inclination towards silver rings as they help enhance clarity and emotional harmony is also making them an excellent option for those seeking quiet and centered lifestyles.Earrings are likely to witness a dominance in the country mainly on account of the expanding female population. The increasing activities for the introduction of new and tailor-made earrings will add to the segment growth. In April 2022, Vietnam Airlines-operated shopping platform VNAMALL launched a new line of co-branded earrings, inspired by lotuses and pearls, fabricated by top Vietnamese artisans.
The Vietnam jewellery industry outlook will also be influenced by the rising demand for charms and bracelets as they cater to men, women and kids. With adjustable designs and intricate details, premium-quality charm bracelets are gaining popularity as they are crafted to add a touch of elegance to any outfit.
CAGR 2025-2034 - Market by
- Product Type
- Ring
- 4.4%
- Earrings
- Necklace
- 4.2%
- Charms and Bracelets
- Others
Market Insights by Material Type
The expanding middle class population and the strong desire for affordable accessories will favor the silver jewellery demand. As sterling silver jewellery can be paired with natural gemstones, it has become popular for its craftsmanship, authenticity, and cultural value.Diamonds are recording wide preference across the country due to the presence of some of the most distinguished and prominent companies. The significant efforts placed on ramping up the production of lab-grown diamonds to cater to the rising regional consumer requirements will boost the product uptake.
Meanwhile, the demand for platinum in the Vietnam jewellery industry is expected to grow with the evolving consumer preferences and growing interest in precious metals. According to industry reports, Vietnam imported USD 10.4 millions of platinum in 2023.
Market Insights by Category
As per the Vietnam jewellery market report, the preference for branded jewellery will increase with their established reputation and quality assurance. Given the rising spending on luxury jewellery on account of the growing purchasing capacities, several consumers in Vietnam are opting for branded accessories.Unbranded jewellery will record strong demand due to the surge in the number of local artisans and their constant efforts on product innovations. In September 2024, Vietnam Law & Legal Forum magazine revealed that the Dinh Cong village in Hanoi specializes in applying special techniques for making unique intricate silver objects.
Market Insights by End User
The Vietnam jewellery market value will expand through end users. The significant adornment of bracelets by men across the region can be attributed to the perfect blend of style and durability. The growing popularity of Vietnamese sand gold rings among men for their long-lasting, rich, prosperous and gold imitation attributes will favor the segment growth.The expanding female population coupled with the ease of access to a wide range of accessories are prominent drivers influencing the higher adoption of jewellery amongst women. According to UN’s World Population Prospects 2024, the number of females in Vietnam stood at 51.53 million.
Market Insights by Distribution Channel
According to the Vietnam jewellery market analysis, the distribution of jewellery on online platforms is set to grow with the rising smartphone usage and ease of availability of internet. The growing adoption of digital wallets and other online payment options will also drive the preference for online jewellery sales.The growing number of offline stores along with their increasing preference as they offer a better purchasing experience will enhance the segment growth. In April 2023, Luxury jewellery brand Tiffany & Co. opened its new store in Ho Chi Minh City, following the launch of its first store in Hanoi.
Vietnam Jewellery Market Regional Analysis
Southeast Jewellery Market Drivers
The expanding middle-class population and their rising spending abilities on luxury items will impact the Southeast Vietnam jewellery market outlook. The great culture and appreciation for fine craftsmanship and jewellery is propelling the rise in the number of stores across the region. In January 2024, American jewellery retailer Jacob & Co partnered with retail leader JW International Company to open a boutique providing high jewellery patrons in Ho Chi Minh City.Red River Delta Jewellery Market Trends
Driven by the rising influence of fashion trends and international brands, the demand for jewellery will expand in the Red River Delta region of Vietnam. The growing tourism industry has further made Hanoi a charming and historic destination for its traditional silver crafts. According to Hanoi Department of Tourism, Hanoi recorded a surge in tourism with 25.33 million visitors in the first 11 months of 2024.Mekong River Delta Jewellery Market Factors
As per the Vietnam jewellery market analysis, the rising activities in pearl cultivation is expected to drive the preference for pearl accessories, such bracelets, earrings and necklaces in the Mekong River Delta area. The growing efforts undertaken for converting wasted coconut shell pieces into beautiful and valuable jewellery will also add to the regional product demand.Competitive Landscape
Leading players in the Vietnam smartphone market are working on strategic measures, such as partnerships, investments and capacity expansions to expand their customer base. These firms are also engaging in product diversification initiatives to gain competitive edges.DOJI Gold & Gems Group
Founded in 1994 and headquartered in Hanoi, DOJI Gold & Gems Group is the only Vietnamese member of the Colored of Gemstone Association (ICA), specializing in jewellery manufacturing, gemstone processing, and the import and export of gold bar business. The firm is a well-known brand for high performance diamonds and colored gemstones.Saigon Jewelry Company Limited
Founded in 1988 and headquartered in Ho Chi Minh City, Saigon Jewelry Company is Vietnam's largest gold as well as gold jewellery production and distribution company. Saigon is also a leading supplier of buffalo horn jewellery and silver charms.Bao Tin Minh Chau Jewelry
Founded in 1989 and headquartered in Hanoi in the Vietnam, Bao Tin Minh Chau Jewelry has been producing and making unique and high-quality jewellery. The company has affirmed its position in Vietnam’s gold sector with its high-quality products that meet international standards.Phu Quy Gold Investment Joint Stock Company
Founded in 2003 and headquartered in Hanoi, Vietnam, Phu Quy Gold deals with the manufacturing and trading of jewellery. The company designs and produces a wide variety of jewellery pieces whilst selling a great selection of gemstones and diamond jewellery.Other key players in the Vietnam jewellery market report are HUY THANH GOLD, SILVER AND GEMSTONE COMPANY LIMITED, Skymond Luxury, Cartino, and HALONG GOLD AND GEMSTONE CO., LTD.
Table of Contents
1 Executive Summary
2 Market Overview and Stakeholder Insights
3 Economic Summary
4 Country Risk Profiles
5 Asia Pacific Jewellery Market Overview
6 Vietnam Jewellery Market Overview
7 Vietnam Jewellery Market by Product Type
8 Vietnam Jewellery Market by Material Type
9 Vietnam Jewellery Market by Category
10 Vietnam Jewellery Market by End User
11 Vietnam Jewellery Market by Distribution Channel
12 Vietnam Jewellery Market by Region
13 Market Dynamics
14 Competitive Landscape
Companies Mentioned
- PNJ Group
- DOJI Gold & Gems Group
- Saigon Jewelry Company Limited - SJC
- Bao Tin Minh Chau Jewelry
- HUY THANH GOLD, SILVER AND GEMSTONE COMPANY LIMITED
- Skymond Luxury
- Cartino
- PHU QUY GOLD INVESTMENT JOINT STOCK COMPANY
- HALONG GOLD AND GEMSTONE CO., LTD.
- Others