10 Jewelry Industry Statistics, Trends, and Predictions for 2025

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Worldwide jewelry revenue is projected to continue its gradual but consistent growth to $450 billion in 2029 at a compound annual growth rate (CAGR) of 5.02%.

Jewelry industry statistics point to three key factors in global jewelry market growth. These include:

1. Recovery from the COVID-19 pandemic.
2. Economic advancements in developing countries resulting in increased disposable income.
3. Fashion trends such as the growing interest in men’s jewelry.

In 2025, estimated average per capita jewelry spend is $47.97 in 2025, and that amount is projected to increase to $55.38 by the end of the forecast period.

2. The U.S. jewelry market will generate $64.08 billion in 2025 (source)

This represents a 1.8% increase from the previous year, and the U.S. market is expected to grow to approximately $68.7 billion by 2029 at a 1.33% CAGR. For perspective, researchers estimate that each person in the United States will spend an average of $186.50 on jewelry in 2025.

3. Nearly half of U.S. consumers prefer to buy jewelry from small businesses (source)

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According to the most recent jewelry industry statistics, 49% of U.S. shoppers who purchased jewelry or watches in the past month would rather buy from a small business than a large vendor.

Additionally, 55% of respondents who bought jewelry or watches said they would pay more for sustainably sourced items. However, 34% of that same segment simply seek the cheapest brand possible when purchasing jewelry or watches.

4. Gold jewelry dominates global revenue in the jewelry industry (source)

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Gold is the top revenue-generating material in the global jewelry industry, outpacing other materials like diamonds, gemstones, silver, platinum, and other precious metals.

According to the most recent data, consumer demand for gold jewelry recovered from its 2020 pandemic slump the following year, and it finished 2023 with an estimated 2,190 metric tons of gold sold. This accounted for an impressive 48.7% of global gold demand—far exceeding its demand in investment, central banks, and technology.

That year, gold represented 53.8% of the jewelry industry revenue, with a market valuation of $184.85 billion. This dominance is expected to grow at a CAGR of 4.7% from 2022 to 2030.

Much of gold’s success stems from its cultural importance in countries like India and China, which together accounted for over half of global gold jewelry demand in 2022. Gold’s versatility and enduring prestige make it a cornerstone of the jewelry industry, ensuring it remains a dominant force well into 2025 and beyond.

Growth of other jewelry segments

While gold leads in revenue share, other jewelry materials are carving out significant niches:

• Platinum continues to be the preferred choice for special pieces like engagement rings and wedding bands, with annual global demand reaching 38 metric tons.
• Silver jewelry—driven by its affordability and popularity among younger consumers—saw a massive global demand of 6,636.6 metric tons in 2023. This segment is expected to grow at a robust CAGR of 10.5% from 2024 to 2032.
• Diamond jewelry is projected to grow at a CAGR of 5.2% over the same period, fueled in part by the increasing popularity of lab-grown diamonds.

5. Ring sales represent nearly one-third of jewelry revenue worldwide (source)

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Ring sales represent approximately 32% of the global jewelry market share, highlighting their popularity among consumers worldwide. Engagement rings, wedding bands, and other significant jewelry pieces contribute to the popularity of this product type.

Jewelry industry statistics show that necklaces represent the second largest market share, at approximately 21% of total jewelry sales. Meanwhile, bracelets represent 12%, earrings comprise 7%, and other types of jewelry make up a combined 28% of revenue, with all percentages approximate.

However, projections indicate the bracelets segment will grow rapidly at a CAGR of 3.7% by 2030, driven in part by rising interest in cross-cultural designs such as European, Egyptian, and Italian.

6. The number of jewelry stores in the U.S. is declining (source)

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As of the latest data in 2023, there were approximately 17,600 jewelry stores in the U.S. This continues a negative trend since 2016. While the market value of the jewelry industry continues to increase, there are fewer jewelry stores in America each year.

This trend may be affected by the increasing popularity of online retail versus traditional brick-and-mortar stores, more discerning purchasing habits driven by concern over ethical sourcing and sustainability, and a desire among consumers for items that appeal to unique interests, like this woven steel wolf bangle.

7. Luxury jewelry is increasing in popularity globally (source)

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While non-luxury jewelry continues to dominate the market, the luxury jewelry segment has seen slow but steady growth over the past few years.

In 2018, sales of high-end or fine jewelry goods represented just 21% of the global revenue share, compared to costume jewelry and other non-luxury alternatives representing 79% of sales. In 2025, jewelry industry statistics point to luxury jewelry sales contributing 24% of the revenue share, and by 2029 luxury jewelry sales are expected to comprise a quarter of global jewelry revenue.

However, in the United States non-luxury jewelry remains more popular than the global average. Approximately 85% of U.S. jewelry sales will be non-luxury throughout 2025.

8. Online shopping for jewelry is becoming increasingly popular (source)

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Online shopping is an increasingly popular sales channel for jewelry consumers globally. In 2018, online sales represented just 20.5% of annual jewelry revenue, while traditional brick-and-mortar stores represented 79.5% of the revenue. In 2025, market research indicates revenue from online jewelry sales will reach 32.7% versus 67.3% of offline sales. By 2029, online jewelry sales are expected to grow to 37.2% of total jewelry revenue.

9. China leads the world in jewelry sales (source)

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China is the leading jewelry consumer, purchasing a projected $120.4 billion in jewelry products in 2025. This is an increase from $114.5 billion the previous year.

India is the second leading consumer of jewelry at an estimated $93.5 billion in 2025. Rounding out the top five major players in the global jewelry market are the U.S. ($64.1 billion), Japan ($10.4 billion), and the U.K. ($5.2 billion). In 2022, the U.K. overtook Russia ($4.6 billion in 2025) to claim the fifth spot.

The top five rankings are projected to remain the same until at least 2029, with China’s annual sales projected to climb to $144.7 billion. Meanwhile, jewelry sales in India are forecasted to reach $118 billion, and the U.S., Japan, and the U.K. are also expected to increase sales, reaching $67.6 billion, $11.8 billion, and $5.8 billion, respectively.

Statista’s market report of recent years indicates the effects of the pandemic and the Russia-Ukraine war, with jewelry sales across the board in 2020 and in Russia and Ukraine in 2022. Jewelry industry statistics indicate that today jewelry sales have recovered from the pandemic and associated economic and issues with the supply chain delivering jewelry products to the end user.

In 2025, the Asia Pacific region leads Europe, North America, and the rest of the world in total jewelry sales.

Emerging markets to watch:

1. Nigeria is projected to generate $3 billion in jewelry sales in 2025 after significant growth in recent years, but sales in the African nation are expected to skyrocket to $5.5 billion by 2029.
2. Brazil is also expected to see a significant jewelry revenue increase, growing from $3.5 billion in 2025 to $5 billion by 2029.

Here are other major jewelry buyers in 2025:

1. South Korea ($4.6 billion)
2. Australia ($3.7 billion)
3. Germany ($3.4 billion)
4. Canada ($3.3 billion)
5. France ($3.2 billion)
6. Italy ($3.1 billion)
7. Indonesia ($2.3 billion)
8. Iran ($2 billion)
9. Mexico ($1.9 billion)
10. Malaysia ($1.8 billion)
11. Turkey ($1.7 billion)
12. Egypt ($1.5 billion)
13. Pakistan ($1.4 billion)
14. Thailand ($1.2 billion)
15. Spain ($1.2 billion)

10. Richemont leads the world in annual jewelry sales with over $21 billion (source)

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Luxury goods holding company Richemont, which owns prestigious brands such as Cartier and Van Cleef & Arpels, reported 2024 sales totaling $21.23 billion, with jewelry sales accounting for approximately 52% ($11.02 billion). This positions Richemont as the leader in the global luxury jewelry market.

China-based jewelry company Chow Tai Fook reported $11.52 billion in revenue in 2024, approximately 43% of which came from retail sales. The company has a 10.9% share of China’s jewelry market and is the leading jewelry brand on Alibaba’s platforms.

LVMH Group’s jewelry and watches segment has experienced remarkable growth, tripling its revenue since 2020 to reach $11.22 billion in 2023, the most recent year with available data. LVMH owns approximately 50 luxury brands, including Louis Vuitton, Bulgari, and Tiffany & Co., contributing to its stronghold in the high-end jewelry market.

Signet Jewelers Limited, the largest specialty jewelry retailer in the United States, Canada, and the United Kingdom, achieved $7.17 billion in net sales for fiscal year 2024, underscoring its dominance in accessible and mid-range jewelry offerings.

Pandora is another key player, reporting a record $3,886 billion in revenue in 2023. Pandora is particularly popular in the United States, where approximately 89% of people are familiar with the jewelry brand, of whom 42% own its products.

Meanwhile, Swarovski Crystal Business is seeing impressive market growth, generating $1.89 billion in 2023, a 4% increase over the previous year.

What these jewelry industry statistics reveal

The jewelry industry is poised for an exciting future, with growth driven by shifting consumer preferences and a renewed focus on individuality. Trends like the rise of men's jewelry, the demand for personalized designs, and the increasing popularity of online shopping are shaping the market in 2025 and beyond.

Additionally, the prominence of gold, the growing appeal of sustainable and luxury jewelry, and the expansion of emerging markets highlight the dynamic nature of this sector.

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