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Luxury Jewelry Market to Surpass 95.8 Billion by 2030 Drives Due to the Increased Modernization and Westernization

SkyQuest Technology Consulting Pvt. Ltd.
4 min read
SkyQuest Technology Consulting Pvt. Ltd.
SkyQuest Technology Consulting Pvt. Ltd.

SkyQuest projects that the luxury jewelry market will attain a USD 95.8 billion value by 2030, with a CAGR of 7.85% over the forecast period (2023-2030). The expansion of the luxury jewelry market can be attributed to several key drivers. The increased modernization and westernization in many countries have led to changing lifestyles and preferences, with consumers increasingly valuing luxury goods, including jewelry. As disposable income rises, individuals invest in high-end jewelry pieces to symbolize status and personal style.

Westford, USA, July 16, 2023 (GLOBE NEWSWIRE) -- According to SkyQuest, the growth of the luxury jewelry market is further propelled by the increasing demand for sustainable and gender-fluid jewelry. Consumers are seeking ethically sourced and produced jeweler using sustainable practices with rising awareness of environmental concerns. This shift towards sustainability has influenced the design and production processes within the luxury jewelry industry, leading to greater availability of eco-friendly and socially responsible jewelry options.

Browse in-depth TOC on the "Luxury Jewelry Market"

  • Pages - 271

  • Tables - 94

  • Figures – 76

Luxury jewelry has evolved beyond mere adornment to become a vehicle for self-expression. Many buyers seek unique and significant pieces that reflect their individuality and personal style. As a result, non-traditional forms, shapes, and materials have found their way into jewelry collections, breaking away from conventional designs and embracing innovative aesthetics in the luxury jewelry market.

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https://www.skyquestt.com/sample-request/luxury-jewelry-market

Prominent Players in Luxury Jewelry Market

  • MIKIMOTO

  • Bulgari

  • Cartier

  • Chopard

  • Graff Diamonds

  • Harry Winston

  • Van Cleef & Arpels

  • Piaget

  • Tiffany & Co.

  • Boucheron

  • Buccellati

  • David Yurman

  • Chaumet

  • Fabergé

  • H. Stern

  • Swarovski

  • Damiani

  • Pomellato

  • De Beers

  • Bvlgari Jewelry

Browse summary of the report and Complete Table of Contents (ToC):

https://www.skyquestt.com/report/luxury-jewelry-market

Gold Segment is Expected to Grow the Market Due to its Intrinsic Value and Allure

The gold segment dominates luxury jewelry market, representing the largest revenue share at 38.9%. Gold has long been revered for its intrinsic value and allure, making it a desirable investment during political and economic uncertainty. The stability and perceived inherent worth of gold have positioned it as a haven asset, attracting investors during periods of crisis.

The markets in North America are poised to exhibit the highest CAGR in the luxury jewelry market during the forecast period. This can be attributed to its high concentration of millionaires, the main drivers of luxury consumption.

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