Nina Jobst
Research expert covering South Korea
Jewelry market worldwide - statistics & facts
One of the most ancient and enduring forms of personal expression is jewelry, with humans wearing metal or wooden trinkets for thousands of years. Whether it’s a luxurious diamond necklace, or a simple charm bracelet, jewelry can make the wearer instantly feel more confident and stylish. In 2024, the global luxury jewelry market amounted to about 31 billion euros. Globally, the lion’s share of the jewelry and watch market revenue generated in 2025 is attributed to three countries: China was the largest, followed closely by India and the United States.
Diamonds are probably the most iconic gemstone to be used in jewelry production, thought of by many as a symbol of everlasting love and luxury. In 2022, the diamond jewelry market was valued at about 87 billion U.S. dollars worldwide. One of the most exciting new innovations in the jewelry industry is lab-created diamonds, which are often indistinguishable from natural diamonds, and are expected to become much more common and readily available in the near future.
Nowadays consumers don’t need to spend a fortune on high-quality jewelry. For example, the shift towards lab-grown diamonds can be attributed to both budgetary and ethical reasons. In the meantime, natural diamonds are likely to depreciate due to the fact that they are practically indistinguishable to the everyday consumer from their lab counterparts.
Global jewelry demand
The demand for gold worldwide rose to more than 4,440 metric tons in 2023, a drop compared to the year prior. There are several different industries that use gold, and in the same year, the largest of these was the jewelry industry. In fact, the jewelry industry used over 2,150 metric tons of gold, accounting for more than double any other sector.Diamonds are probably the most iconic gemstone to be used in jewelry production, thought of by many as a symbol of everlasting love and luxury. In 2022, the diamond jewelry market was valued at about 87 billion U.S. dollars worldwide. One of the most exciting new innovations in the jewelry industry is lab-created diamonds, which are often indistinguishable from natural diamonds, and are expected to become much more common and readily available in the near future.
Leading jewelers
Some of the top jewelry retailers worldwide are Signet Jewelers, Richemont Group, and LVMH Group. Signet Jewelers generates the majority of its sales through bridal and fashion jewelry. LVMH Group attributed 12 percent of its total revenue to jewelry and watches, which amounted to around 10.6 billion U.S. dollars in 2024. LMVH owns the brands Bulgari, Hublot, Chaumet, and acquired the well-known brand Tiffany and Co. in 2021.Nowadays consumers don’t need to spend a fortune on high-quality jewelry. For example, the shift towards lab-grown diamonds can be attributed to both budgetary and ethical reasons. In the meantime, natural diamonds are likely to depreciate due to the fact that they are practically indistinguishable to the everyday consumer from their lab counterparts.
