Global Luxury Jewelry Market Overview:
Luxury jewelry is referred to as the higher-end and more expensive jewelry. Luxury is a state of great comfort or elegance, especially when involving great expense, in short, luxury means to be of superior or best quality. To many traditional jewelers, luxury jewelry is considered exceptionally made up of gold or platinum jewelry set with precious gemstones like a diamond. The market for luxury jewelry is increasing due to rising disposable income. Also, the customers searching more on online to get detailed information in a quick way, but due to the high cost associated with the luxury jewelry common man could not afford it, which is the main reason to hamper the growth of the market
As per latest study released by AMA Research, the Global Luxury Jewelry market is expected to see growth rate of 7.9%Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Historical Period | 2018-2022 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Focusing On Aesthetic Appeal and Celebrity & Social Media Influence
Market Growth Drivers:
Increasing Disposable Income And Consumer Spending On Luxury Goods and Rapid Adoption Of Online Browsing To Get Information About New Luxury Jewelry Designs
Challenges:
Artificial Jewelry Available In The Market With The Same Designs and Trouble In Conveying The Brand Personality And Promoting A Fine Piece Of Jewelry
Restraints:
High Cost Associated With The Luxury Jewelry Market and Negative Side Effects Such As Counterfeiting And Brand Piracy Associated With Luxury Jewelry
Opportunities:
With The Rapid Economic Growth And Consumers Increasing Demand For Beauty And Social Status, Luxury Jewelry Has Become More And More Popular. Advanced Technology Makes It Possible To Create Customized Jewelry, In Every Shape With Each Material
Competitive Landscape:
Luxury Jewellery market is a fragmented market due to the presence of various players. Companies are focusing on developing trendy products and fashionable to improve quality, enhances and promotes new designs. The companies are coming up with partnerships or agreements along with planning strategic activities such as partnerships, product launch, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge
Some of the key players profiled in the report are Buccellati (Italy), GUCCI Group (Italy), UNO A ERRE (Japan), JOAQUIN BERAO (Japan), Mikimoto (United States), FOLLI FOLLIE JAPAN LTD (Japan), DAMIANI (Italy), San Freres S A (France), Piaget (Switzerland), Tiffany & Co. (United States), Bvlgari (Italy), Van Cleef & Arpels (France), Graff (United Kingdom), Georg Jensen (Denmark) and FJD (United States). Additionally, following companies can also be profiled that are part of our coverage like Bulgari (Italy), Chopard (Switzerland), De Beers Diamond Jewellers (United Kingdom), Richemont (Switzerland) and Cartier (Paris). Analyst at AMA Research see Italy Vendors to retain maximum share of Global Luxury Jewelry market by 2028. Considering Market by Material, the sub-segment i.e. Gold will boost the Luxury Jewelry market.
Latest Market Insights:
French billionaire François Pinault took effective control of the Gucci Group with an agreement to buy much of the stake held by the rival tycoon Bernard Arnault and Tiffany & Co. announced a partnership with Spotify to release the brand’s first ever recording a modern remake of the classic “Moon River”
Recently, Inspired by the beauty and physics of the four seasons, Tiffany & Co. has associated with scientists and artists to reimagine its iconic Fifth Avenue flagship windows to celebrate the launch of the 2018 Tiffany Blue Book high jewelry collection
The Government of India has declared the Gems and Jewellery sector as a focus area for export promotion. The Government has recently undertaken various measures to promote investments and to upgrade technology and skills to promote ‘Brand India’ in the international market and The Bureau of Indian Standards (BIS) has revised the standard on gold hallmarking in India from January 2018. The gold jewelry hallmark will now carry a BIS mark, purity in carat and fitness as well as the unit’s identification
Analyst View
Gold segment is projected to be the fastest growing segment, it is the most preferred precious metal in the luxury jewelry market
What Can be Explored with the Luxury Jewelry Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Luxury Jewelry Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Luxury Jewelry
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Luxury Jewelry market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Luxury Jewelry market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Jewelry Manufacturers, Raw Material Suppliers, Distributors, Importers/Exporters, Jewelry Associations, Regulatory Bodies and Government Bodies.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.