The global gems and jewelry industry was valued at approximately USD 395.58 billion in 2022 and is expected to grow to USD 409.35 billion in 2023, with projections to reach USD 556.7 billion by 2032. This represents a compound annual growth rate (CAGR) of around 3.48% from 2024 to 2032.
The market’s continued growth is fueled by evolving consumer preferences, rising disposable incomes, and advancements in technology that are transforming jewelry design and retailing. The industry covers a wide range of product categories, including diamond, gold, silver, gemstone, beaded, and pearl jewelry, catering to diverse consumer segments and special occasions. The variety of jewelry types, such as necklaces, rings, earrings, bracelets, brooches, and pendants, demonstrates the sector’s ability to appeal to a broad audience, including women, men, children, couples, bridal shoppers, and corporate buyers.
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