Luxury Jewelry Market Expected to Reach USD 110.52 Billion by 2034, Growing at 8.5% CAGR

BySheetal Gajbhiye

The luxury jewelry market size was valued at USD 48.93 billion in 2024 and is expected to reach USD 53.04 billion by 2025 and USD 110.52 billion by 2034, exhibiting a CAGR of 8.5% during 2025–2034.

Market Definition

The Luxury Jewelry Market remains a resilient and evolving segment driven by affluence, brand heritage, and rising disposable incomes in emerging economies. This market encompasses high-end items made from precious metals and gemstones, often associated with craftsmanship, exclusivity, and emotional value. Iconic brands such as Cartier, Tiffany & Co., and Bulgari continue to dominate through innovation, celebrity endorsements, and expanding their global footprint, especially in Asia-Pacific. Digital transformation, including virtual showrooms and blockchain-backed authentication, is modernizing the traditionally brick-and-mortar industry. Moreover, there is a growing demand for ethically sourced diamonds and sustainable materials, influenced by climate and social responsibility. Investment-driven buying is also increasing, with rare pieces seen as alternative assets. The market benefits from both cultural milestones (weddings, anniversaries) and luxury consumption trends. As personalization and custom design grow in popularity, the market is expected to maintain steady growth while adapting to younger generations’ values.

Key Report Highlights  

  • The report highlights the key region that accounts for the highest revenue share in the global Luxury Jewelry market.
  • It identifies the leading country within this region that makes a significant contribution to the market’s overall performance.
  • The report outlines the dominant segment that holds a major share of the market.
  • It also emphasizes the fastest-growing segment projected to gain strong traction during the forecast period.
  • Qualitative and quantitative market analysis have been used to provide an in-depth understanding of the market.

Market Overview: Key Figures at a Glance

  • Market Value in 2024: USD 48.93 billion
  • Projected Market Size in 2034: USD 110.52 billion
  • Anticipated CAGR (2025-2034): 8.5%

Get access to the full report or request a complimentary sample for in-depth analysis:

https://www.polarismarketresearch.com/industry-analysis/luxury-jewelry-market/request-for-sample 

Market Growth Drivers

The luxury jewelry market is driven by a combination of rising disposable incomes, evolving consumer tastes, and the growing influence of digital and emerging markets. Affluent consumers continue to view luxury jewelry as a symbol of status, heritage, and investment, particularly in regions like Asia-Pacific and the Middle East. Digitization has opened the doors for e-commerce in high-end jewelry, offering greater reach and personalized experiences through AR try-ons and virtual consultations. Furthermore, the increasing demand for sustainable and ethically sourced gemstones and metals is reshaping brand strategies to align with conscious consumerism. Global tourism and the influence of celebrity culture and social media also amplify aspirational demand. Additionally, luxury brands are blending tradition with innovation by introducing gender-fluid and customizable designs. These factors, coupled with resilient demand in economic downturns as a store of value, are collectively propelling the growth of the luxury jewelry sector.

Market Key Players

The competitive landscape features a mix of long-standing companies and emerging contenders. Leading players are actively pursuing R&D initiatives and strategic moves to strengthen their market position. Notable participants include

  • Chopard
  • Compagnie Financière Richemont SA
  • GRAFF
  • Guccio Gucci S.p.A.
  • LOUIS VUITTON
  • MIKIMOTO
  • Pandora
  • Signet Jewelers.
  • T&CO.
  • The Swatch Group Ltd

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