Jewelry and Silverware Market Report 2025

The jewelry and silverware market size has grown strongly in recent years. It will grow from $219.27 billion in 2024 to $234.8 billion in 2025 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to cultural significance, economic prosperity, celebratory occasions, craftsmanship and artistry, precious metal prices, globalization of markets, marketing and branding.

The jewelry and silverware market size is expected to see strong growth in the next few years. It will grow to $302.08 billion in 2029 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to sustainability practices, influence of social media, shift in consumer demographics, smart jewelry integration, global luxury markets, popularity of vintage and antique styles. Major trends in the forecast period include artisanal and handcrafted jewelry, innovations in jewelry design, smart jewelry and wearables, mixed materials and textures in jewelry, online and direct-to-consumer sales.

The growing number of weddings is anticipated to boost the jewelry and silverware market. Bridal jewelry often sees significant spending on wedding ceremonies and celebrations, leading to increased demand for gold, silver, diamonds, and other types of jewelry. For example, in March 2024, a report from the Centers for Disease Control and Prevention (CDC), a U.S.-based federal agency, indicated that there were 2,065,905 marriages recorded in the United States in 2022, resulting in a marriage rate of 6.2 per 1,000 people for a population of 333,287,557. This compares to 1,985,072 marriages and a rate of 6 per 1,000 in 2021, when the population was 331,893,745. Therefore, the increasing number of marriages worldwide is expected to drive the jewelry and silverware market.

The growth of the jewelry and silverware market is also expected to be fueled by an expanding middle-class population. The middle-class segment, characterized by moderate incomes and a comfortable standard of living, is positioned between the affluent upper class and lower-income groups. The increasing size of the middle class, particularly in emerging markets, influences the demand for luxury jewelry driven by fashion trends and a desire for personalization. According to the European Commission, it is projected that the global middle-class or consumer class will expand to 4.8 billion individuals by 2030, representing a significant increase of 1.3 billion individuals with increased purchasing power. This growth in the middle-class population is expected to be a key driver for the jewelry and silverware market.

Jewelry and silverware manufacturers are increasingly adopting Computer-Aided Design (CAD) software, leveraging its precise measurement capabilities. CAD software, commonly used by engineers and architects, facilitates the creation of accurate drawings for various objects. Its integration into jewelry making allows manufacturers to customize jewelry with high precision, catering to specific customer requirements. The utilization of CAD software in the design process enables the creation of virtual models, leading to cost savings by replicating these models during manufacturing.

Major companies are focusing on innovation, introducing products such as non-bridal fashion jewelry to enrich their product offerings and gain a competitive edge. Non-bridal fashion jewelry includes a diverse range of accessories such as necklaces, earrings, bracelets, and rings designed for everyday wear and fashion expression, distinct from jewelry intended for weddings or bridal occasions. For instance, Verragio Ltd., a US-based bridal jewelry manufacturer, unveiled a line of non-bridal jewelry in May 2023. This collection comprises three distinct series, seamlessly integrating key design elements from Verragio's renowned bridal collections, including engagement ring halos and a distinctive beading style. The Veritage collection features essential jewelry pieces, such as diamond pendants and hoops, inspired by Verragio's design heritage, incorporating elements such as the company crest, signature beading style, and settings from their acclaimed bridal collections. This strategic focus on non-bridal fashion jewelry showcases the industry's responsiveness to evolving consumer preferences and style trends.

Major companies operating in the jewelry and silverware market include Berkshire Hathaway Inc., Tiffany & Co., Christian Dior SE, Compagnie Financiere Richemont SA, Kering SA, Pandora A/S, James Avery Craftsman Inc., The Swatch Group, Titan Ring Designs LLC, Silvesto India Private Limited, Reed & Barton, Wheeler Manufacturing Co. Inc., Lunt Silversmiths, Rockleigh Industries Inc., DM Jewelry Design Studio, Mangla International, Gorham Company, International Silver Company, Custom Fashion Jewels, Navika USA Inc., Kole Design, Lavie Jewels, Towle Manufacturing Company, Derewala Industries Limited, Frank Smith Silver Company, Akrati Jewels Inc, Dwarka Jewel, Kanhai Jewels, Gayatri Gems And Jewels Private Limited, Tokan Inc, Sun Diamonds Pvt. Ltd., Tuttle Silver Company, Wallace Silversmiths.

Asia-Pacific was the largest region in the jewelry and silverware market in 2024. Western Europe was the second largest region accounting in The jewelry and silverware market. The regions covered in the jewelry and silverware market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the jewelry and silverware market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa.

The jewelry and silverware market consists of sales of fine silver, sterling silver, silver-plated jewelry, and silver-filled jewelry. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

Jewelry and silverware refer to items that encompass ornamental pieces worn for personal adornment, while silverware specifically includes all products made of silver within a household, particularly cutlery and dishware. Jewelry and silverware are utilized to produce engraved, chased, or etched items, including jewelry, novelties, or precious metal flatware. They are also used for stamping coins, cutting, slabbing, tumbling, carving, engraving, polishing, faceting, recutting, repolishing, or resetting precious or semi-precious stones.

The primary types are jewelry and silverware, with silverware including metal eating utensils, tableware, and serving pieces made of or coated with silver. Distribution occurs through online stores, specialty shops, hypermarkets, and other retail outlets, catering to both men and women.

The jewelry and silverware market research report is one of a series of new reports that provides jewelry and silverware market statistics, including jewelry and silverware industry global market size, regional shares, competitors with a jewelry and silverware market share, detailed jewelry and silverware market segments, market trends and opportunities, and any further data you may need to thrive in the jewelry and silverware industry. This jewelry and silverware market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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