According to the 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 was valued at USD 46.52 billion in the year 2021 and is speculated to garner notable gains during 2022-2027.

Rising disposable income of the people, increase in the proportion of individuals with high net worth, and changing consumer preferences are parameters influencing the growth of global luxury jewelry market.

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Moreover, the adoption of ornaments & gems based on the variety of cultures & customs followed by people across the globe is likely to boost the demand for the products significantly through the review period.

Besides, the high liquidation value of diamonds & gold gives the jewelry holder more cause to buy the product, combined with mono-brand stores that have been gaining ground at the expense of mail-order players are impelling the progress of industry. 

In addition to this, the surging trend of bespoke and personalized jewelry pieces, and the option of designing own jewelry are enhancing the scope of the product for the customers as well as encouraging manufacturers to create innovative items using different materials & gemstones, thus garnering profitable avenues. 

During the COVID-19 pandemic, worldwide luxury jewelry market witnessed a massive downfall as the demand for high-value products declined steeply. The uncertainty of the future due to the virus spread caused a huge imbalance in the export and sales of jewelry. However, with constant recovery from the pandemic, the industry is expected to pick up pace in the coming years. 

In terms of product type, the market is categorized into earring, necklace, ring, and others. For material type, the industry is segmented into platinum, diamond, gold, and others. Based on distribution channels, the business sphere is classified into online stores, and offline stores.

Concerning the regional landscape, the market spans across North America (Canada, U.S.), Latin America & Middle East & Africa (UAE), Asia Pacific (India, Japan, China), and Europe (France, UK, Germany, Italy). 

The prominent players in global luxury jewelry market are Buccellati Holding Italia S.p.A., Compagnie Financière Richemont S.A., Le Petit-Fils de L.-U. Chopard & Cie S.A, LVMH Moët Hennessy Louis Vuitton, Swarovski Ltd., Signet Jewelers Ltd., The Swatch Group Ltd., Kering SA, Pandora, and Chanel among others.