According to the recent research report titled ‘Global Luxury Jewelry Market (2022 Edition) - Analysis By Material (Diamond, Gold, Platinum, Others), Product Type, Distribution Channel, By Region, By Country: Market Insights and Forecast with Impact of Covid-19 (2022-2027)’ available with MarketStudyReport, global luxury jewelry market accounted for USD 46.52 billion in 2021 and is expected to witness remunerative growth through 2027.

Increasing disposable income, multiple traditional norms regarding gems and jewelry, changing consumer preferences, and rising population are some of the major factors affecting the global luxury jewelry market.

Request sample copy of this report: https://www.marketstudyreport.com/request-a-sample/4791351/

The growing popularity of jewelry modification and personalization has prompted various vendors to provide customization options to their clients. Many suppliers have a separate customizing option on their website where consumers may choose the sort of material and gemstone, as well as the shape and design of the rings.

The this surge in demand for diamonds and gold has ensured that jewelry will continue to retain its value and as it is easy to sell when needed, thus propelling the overall market development.

Despite the positive outlook, the spread of the Coronavirus has had a negative influence on the jewelry space. In the gem and jewelry business, the economic uncertainty generated an imbalance in sales and exports, thus hampering the overall market expansion.

Global luxury jewelry market is segmented on the basis of material type, product type, distribution channel, and geographical analysis. By material type, the market is bifurcated into diamond, platinum, gold, and other materials. Among these, the diamonds segment is poised to amass commendable gains in the ensuing years owing to changing consumer preferences and availability of customized products.

In terms of product type this market space is divided into earrings, rings, necklaces, and other products. The distribution channel of luxury jewelry industry is bifurcated into offline and online stores.

The geographical analysis of the worldwide luxury jewelry market is widespread across Europe, the Middle East & Africa, North America, and Latin America. The Middle East market is expected to witness stellar growth during the estimated timeframe given the rising jewelry demand from the post-pandemic phase.

The leading players of the global luxury marketplace are Signet Jewelers Ltd., Compagnie Financière Richemont S.A., Kering, Chanel, The Swatch Group, LVMH Moët Hennessy Louis Vuitton, Swarovski AG, Pandora A/S, Chopard, and Buccellati Holding Italia.