IMARC Group, a leading market research company, has recently released a report titled "Jewellery Market Report by Product (Necklace, Ring, Earrings, Bracelet, and Others), Material (Gold, Platinum, Diamond, and Others), and Region 2024-2032". The study provides a detailed analysis of the industry, including the jewellery market trends, size, share and growth forecast. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

The global jewellery market size is expected to exhibit a growth rate (CAGR) of 5.27% during 2024-2032. 

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Factors Affecting the Growth of the Jewellery Industry:

• Rising Disposable Income and Urbanization:

The rise in disposable income and urbanization across various regions is one of the major factors catalyzing the market growth. In line with this, the increasing purchasing power of individuals that enables consumers to spend more on luxury items, including jewellery, is acting as a growth-inducing factor. Moreover, the heightened urbanization leading to lifestyle changes that put greater emphasis on the demand for fashion and luxury products is enhancing the market growth. Besides this, the expansion of the middle class across the globe, encouraging the increased sales of fine and fashion jewellery as they offer a wide range of products at various price points, is fueling the market growth. Furthermore, the proliferation of online retail platforms that make jewellery more accessible to a wider audience is contributing to the market growth.

• Rising Influence of Celebrity Endorsements and Social Media:

The rising influence of celebrity endorsements and social media that promote jewellery brands is positively impacting the market growth. In line with this, the increasing investment by jewellery companies in celebrity endorsements to enhance brand visibility and credibility, thereby reaching a wider audience and creating aspirational value around their products, is promoting the market growth. Along with this, the advent of social media platforms that provide a space for brands to showcase their collections to millions of potential customers across the globe is enhancing the market growth. Additionally, the increasing popularity of user-generated content that features jewellery pieces to help create an organic promotion cycle is stimulating the market growth.

• Rapid Technological Advancements and Innovation:

The introduction of advanced techniques such as three-dimensional (3D) printing and computer-aided design (CAD) that allow for greater precision and creativity in jewellery making is creating a positive outlook for the market. These technologies enable designers to experiment with complex designs and produce intricate pieces that were previously impossible to create by traditional methods. Moreover, the development of lab-grown diamonds and other synthetic gemstones, as they provide consumers with more affordable options that are virtually indistinguishable from natural stones, is enhancing the market growth. Additionally, rapid advancements in gemstone treatment and enhancement techniques that improve the quality and durability of jewellery pieces are providing a thrust to the market growth.

Jewellery Market Report Segmentation:

By Product:

• Necklace
• Ring
• Earrings
• Bracelet
• Others

Ring accounted for the largest market share as it is a universally popular symbol of significant life events such as engagements and weddings.

By Material:

• Gold
• Platinum
• Diamond
• Others

Gold represented the largest segment due to its enduring value, widespread cultural significance, and high resale potential.

Regional Insights:

• North America
• Asia-Pacific
• Europe
• Latin America
• Middle East and Africa

Asia Pacific’s dominance in the jewellery market is attributed to high consumer demand in populous countries where jewellery is deeply embedded in cultural and social traditions.

Global Jewellery Market Trends:

The growing demand for gender-neutral jewellery, which caters to a broader and more inclusive audience, is anticipated to drive the market growth. Additionally, the increasing utilization of recycled materials, conflict-free gemstones, and eco-friendly production processes, as consumers demand environmentally friendly products, is contributing to the market growth. In addition to this, the rising demand for customization and personalization, as consumers seek unique and made-to-order pieces that reflect their individual style and story, is providing a considerable boost to the market growth.

Top Companies Operated in Jewellery Industry:

• Buccellati (Compagnie Financière Richemont SA)
• Chow Tai Fook Jewellery Company Limited
• Graff
• Harry Winston Inc (The Swatch Group)
• HStern
• LVMH Moët Hennessy Louis Vuitton
• Pandora A/S
• Rajesh Exports Ltd.
• Signet Jewelers
• Swarovski

Key Highlights of the Report:

• Market Performance (2018-2023)
• Market Outlook (2024-2032)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

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Content Source: https://telegra.ph/Jewellery-Market-Industry-Size-Share-Trends-Growth-Factors--Forecast-Analysis-2024-2032-07-08