Luxury Jewelry Market Size Worth USD 110.52 Billion by 2034 | CAGR: 8.5%

The global luxury jewelry market size is expected to reach USD 110.52 billion by 2034, according to a new study by Polaris Market Research. The report “Luxury Jewelry Market Size, Share, Trends, Industry Analysis Report: By Raw Material (Gold, Platinum, Diamond, Gemstones, Precious Pearls, and Others), Product, Distribution Channel, End User, and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Market Forecast, 2025–2034” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Luxury jewelry refers to high-end adornments crafted from precious metals and gemstones, often distinguished by superior craftsmanship, heritage branding, and exclusivity. The market is undergoing a transformative shift, driven by evolving consumer behaviors, digitalization, and innovation in materials and retail formats. One of the key drivers of luxury jewelry market growth is increasing consumer inclination toward investment-grade accessories that blend aesthetic value with asset preservation. The growing affluence among millennials and Gen Z, coupled with their preference for personalization and ethical sourcing, is reshaping market dynamics. Demand for luxury jewelry is further amplified by experiential retail concepts, limited-edition collections, and digital storytelling that enhances brand prestige and emotional resonance.

Technological innovation is propelling the market expansion, where AI-powered design tools, augmented reality try-ons, and blockchain-enabled authenticity verification are enhancing transparency and customer experience. Sustainability is emerging as a pivotal trend, opening market growth opportunities in lab-grown diamonds and recycled materials. Shifting gifting cultures, rising self-purchasing behavior, and celebrity influence are also fueling demand for luxury jewelry, especially in digitally native consumer segments. The convergence of heritage craftsmanship and tech-driven customization is creating new benchmarks in value creation.

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Market statistics indicate increased traction in omnichannel strategies, targeting high-net-worth individuals while also expanding accessibility through online exclusives and micro-collections. The sector is transitioning from traditional display-centric models to a narrative-driven, purpose-led growth strategy, offering significant potential for market stakeholders to innovate, differentiate, and capture long-term brand loyalty in a competitive global landscape.

Luxury Jewelry Market Report Highlights

• In terms of raw material, in 2024, the gold segment accounted for the largest luxury jewelry market share due to its enduring cultural significance, high liquidity, and established status as a symbol of prestige.
• Based on distribution channel, in 2024, the offline segment accounted for a larger share of the market as experiential retail remains a critical factor in consumer decision-making.
• In 2024, Asia Pacific held the largest share of the luxury jewelry market revenue due to rising disposable incomes.
• The North America market is projected to experience significant growth during the forecast period due to high brand consciousness and increased demand for customized and ethically sourced luxury pieces.
• A few of the global key market players are Chopard, Compagnie Financière Richemont SA, GRAFF, Guccio Gucci S.p.A., LOUIS VUITTON, MIKIMOTO, Pandora, Signet Jewelers, T&CO., and The Swatch Group Ltd.

Polaris Market Research has segmented the market report on the basis of raw material, product, distribution channel, end user, and region:

By Raw Material Outlook (Revenue – USD Billion, 2020–2034)

• Gold
• Platinum
• Diamond
• Gemstones
• Precious Pearls
• Others

By Product Outlook (Revenue – USD Billion, 2020–2034)

• Necklace
• Ring
• Bracelet
• Earring
• Others

By Distribution Channel Outlook (Revenue – USD Billion, 2020–2034)

• Online
• Offline

By End User Outlook (Revenue – USD Billion, 2020–2034)

• Male
• Female
• Children

By Regional Outlook (Revenue – USD Billion, 2020–2034)

• North America
  • US
  • Canada
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Netherlands
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Malaysia
  • South Korea
  • Indonesia
  • Australia
  • Vietnam
  • Rest of Asia Pacific
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Israel
  • South Africa
  • Rest of Middle East & Africa
• Latin America
  • Mexico
  • Brazil
  • Argentina
  • Rest of Latin America