Young people are driving jewelry sales, making up a staggering 82% of all purchases made by people in the 16–44 age range worldwide. It's evident that they're influencing consumer preferences and trends in this market. Simultaneously, we have witnessed numerous fashion jewelry industry companies banding together in an attempt to enhance their operations and ensure their continued competitiveness.

Therefore, today we’ve brought Jewelry and Accessories statistics for you to explore and learn about the market!

Jewelry and Accessories Market Overview

  1. Global jewelry sales are expected to reach an astounding US$310.90 billion by 2024. Statista
  2. Based on the compound annual growth rate (CAGR) for the period 2024-2028, this market is anticipated to grow at an annual rate of 3.53%. Statista
  3. To put things in perspective, the average person is predicted to contribute US$40.12 to the jewelry’s total revenue in 2024. Statista
  4. Anticipating ahead, Non-Luxury is expected to account for 88% of Jewelry market sales by 2024. Statista
  5. Global sales of accessories are expected to reach US$578.30 billion by 2024. Statista
    Its projected compound annual growth rate (CAGR) is 3.66% from 2024 to 2028.  Statista
  6. Watches & Jewelry is the largest segment in this market, with a projected market value of US$390.70 billion in 2024.  Statista
  7. Using the overall population estimates for 2024, this equates to US$74.63 in revenue per person.  Statista
    By 2024, online sales are expected to account for 25.6% of the Accessories market's total revenue in terms of sales channels.  Statista

General Jewelry Statistics

  1. The jewelry repair industry in the United States is estimated to be worth $1.5 billion a year. Gitnux
  2. A little over 2,200 metric tonnes of gold are consumed annually on average for jewelry worldwide. Gitnux
  3. By 2025, the market for platinum jewelry is expected to grow to $9.2 billion. Gitnux
  4. The average American household spends about $615 on jewelry annually. Gitnux
  5. In the jewelry industry, social media affects 75% of purchasing decisions. Gitnux
  6. More than 65% of workers in the jewelry industry are women. Gitnux
  7. In 2019, the market for diamond jewelry had a valuation of $82 billion. Gitnux
  8. The market for diamonds produced in labs is expanding at a 15% annual rate. Gitnux
  9. Jewelry made from ethical and sustainable sources is expected to increase by 20% a year. Gitnux
  10. During the COVID-19 pandemic, fast fashion jewelry brands saw a 26% decline in revenue. Gitnux
  11. Merely 7% of jewelry purchasers earn more than $150,000 annually. Coolest gadgets
  12. By 2026, the global jewelry market is expected to have grown from its 2022 valuation of almost $37 billion to $307 billion. Coolest gadgets
  13. An Asian American spends, on average, $623 on jewelry per year. Coolest gadgets
  14. During the last five to ten years, the profits of brands like Pandora and Swarovski have increased by double or triple. Coolest gadgets
  15. Women hold the largest share of the costume jewelry market, at 58%. Coolest gadgets
  16. From 2022 to 2026, the jewelry industry in the United States is expected to grow at an annual rate of 0.95%. Coolest gadgets
  17. In 2022, the average revenue per person for luxury shopping will be roughly $177.90. Coolest gadgets
  18. The yearly valuation of the jewelry industry worldwide is $348.5 billion, of which $41 billion is derived from sales of luxury jewelry. Coolest gadgets
  19. The personal luxury goods market is projected to grow by $33.53 billion by 2025, with the online jewelry and watch sales market in the United States currently valued at $7.7 billion. Coolest gadgets

Jewelry and Accessories Regional Distribution

  1. The 32nd largest economy in the world, South Africa's GDP, is equal to this market value. Save my cent
  2. The US, India, China, Hong Kong, and Japan are the top countries where people buy fashion jewelry. Save my cent
  3. France, Japan, China, Italy, and the United States are the top countries where people buy luxury jewelry. Save my cent
  4. With an estimated revenue of US$81,260 million in 2024, India leads the pack in terms of revenue generation in the jewelry market when compared to other nations.  Statista
  5. China leads the accesories world in revenue generation when compared internationally, with US$116 billion predicted in 2024.  Statista
  6. In terms of fashion jewelry, the top 10 countries are China, Japan, Hong Kong, India, and the United States; in terms of luxury jewelry purchases, Italy, China, Japan, and France are in the lead. Coolest gadgets
  7. Demand for gold jewelry in China in Q1 was 184 tonnes, which was 13% more than the ten-year average of 162 tonnes but 6% less than the previous year. World Gold Council
  8. 95 tonnes of gold jewelry were required in India in Q1, a 4% increase over Q1 2023. World Gold Council
  9. For the eighth consecutive year, Turkey's jewelry demand grew year over year, increasing 19% to 11 tonnes in Q1. World Gold Council
  10. The Middle East's jewelry demand fell to 42 tonnes in Q1 of this year, a 4% annual decline. World Gold Council
  11. With demand at 25 tonnes and a value of $1.6 billion, the US market saw a slight 2% decline in Q1, its eighth consecutive year-over-year decline. This is the highest Q1 decline in US data series. World Gold Council
  12. In Q1, the demand for jewelry in Europe fell by 2% year over year to 11 tonnes, indicating a post-COVID normalisation trend. World Gold Council
  13. Due to a late-quarter gold price rally, jewelry demand in Thailand, Vietnam, and Indonesia decreased by 10-12% year over year in Q1. World Gold Council
  14. Japan's gold jewelry market had its best quarter since 2019, demonstrating its enduring resilience. World Gold Council
  15. The demand for jewelry in Australia declined by 15% in Q1 2023 compared to the same period last year. World Gold Council

Jewelry Industry Consumer Demographics

  1. Customers under 35 make up the age demographic of the jewelry market, with two thirds of the market's customers being between 35 and 55. Coolest gadgets
  2. According to a recent survey, white gold was the metal of choice for 35% of women. Scottmax
  3. Platinum came in second at 15%, and silver came in third at 17%. Scottmax
  4. Just 11% of women favoured yellow gold, compared to 13% who chose rose gold. Scottmax
  5. Nine percent of the women were either unsure or preferred a combination of metals. Scottmax
  6. Women who were 25 to 40 years old and represented trends in opinion were surveyed. Scottmax
  7. The average American spent $62.12 on jewelry in 2020, compared to $95.89 and $76.41 in 2019 and 2018, respectively. Scottmax
  8. In 2020, spending on watches was $18.22, which was marginally less than the $18.44 in 2019 and the $20.36 in 2018. Scottmax
  9. Sales of custom jewelry increased by 38% between 2019 and 2020 as a result of millennials' desire for distinctive, personalised pieces. Scottmax
  10. The United States now represents 48% of the global polished diamond market, up from 42% in 2014. Scottmax
  11. Compared to 56% of women, nearly 44% of men have purchased jewelry at some point. Coolest gadgets
  12. In terms of marital status, married people accounted for about 55% of jewelry sales.  Coolest gadgets
  13. Worldwide jewelry spending is almost 30% attributed to single people and only 12% to those in relationships. Coolest gadgets
  14. Only 4% of people buy jewelry after the age of 55, compared to roughly 22% of all jewelry buyers who are between the ages of 35 and 44. Coolest gadgets
  15. Age-wise, the most active jewelry buyers are those between the ages of 25 and 34, who account for 35% of global jewelry sales. Coolest gadgets
  16. Young adults (16 to 24 years old) make up the second-largest group, contributing 27% of all jewelry purchases. Coolest gadgets
  17. It's interesting to note that only 16% of jewelry buyers worldwide are over 45, with young people (16 to 34) accounting for 62% of all jewelry purchases.  Coolest gadgets
  18. The average millennial in the US spends $203 or so on jewelry annually. Coolest gadgets
  19. Furthermore, millennials in the US spend 157.9% more on jewelry than the typical American.  Coolest gadgets
  20. Millennials make up only 23% of the world's population, but they are responsible for 57% of jewelry purchases made worldwide. Coolest gadgets

Jewelry Price Statistics

  1. The average profit margin for the top two jewellers in the world, Signet Jewellers and Tiffany & Co. (a subsidiary of LVMH), is 49.1%.  Coolest gadgets
  2. Before selling an item of jewelry, jewellers should budget $394 for an item with an average price and $172 for one with a median price. Coolest gadgets
  3. The study's focus was on American jewelry that cost between $40 and $10,000 excluding wedding bands and engagement rings. Coolest gadgets
  4. Precious metals like gold and silver are used to make the majority of jewelry, with Signet and Tiffany & Co. accounting for around 5% of the worldwide market. Coolest gadgets
  5. Jewelry can bring between 1.6 and 2.7 times its purchase price at auction, not counting marketing expenses. Coolest gadgets
  6. With operating revenue of $7.826 billion and cost of revenue of $4.702 billion in 2021, Signet Jewellers had an average markup of 66.4%.  Coolest gadgets
  7. Tiffany & Co. reported $4.424 billion in revenue and $1.662 billion in cost of revenue in 2020, indicating an average markup of 166.2%.  Coolest gadgets

Online Jewelry Market Size

  1. According to IBISWorld and Statista, the US market for online sales of jewelry and watches reached $7.7 billion in 2022. Save my cent
  2. E-commerce is growing; in the US, sales of watches and jewelry will likely increase by 1.4% by 2022. Save my cent
  3. About 45% of the profits made by well-known online jewelry retailers like Ross Simons, Super Jeweller, Blue Nile, and James Allen come from online sales. Save my cent
  4. The most sought-after item in 2020 was silver anklets, which saw a 108% increase in demand. Save my cent
  5. About $41 billion of the $348.5 billion spent on jewelry each year goes towards luxury pieces that include precious metals and gemstones. Save my cent
  6. By 2025, it is anticipated that sales of luxury jewelry online will rise by $60 billion. Gitnux

Popular Jewelry Statistics (All sourced by: Classy Women Collection)

  1. At 60%, rings were the most popular type of jewelry, closely followed by necklaces at 57%.
  2. Solitaire pendants were the preferred necklace style for 64% of the respondents.
  3. 34% of women preferred the chain attached, whereas 66% preferred a separate chain and pendant.
  4. Round-cut stones were preferred by 70% of women for their stud earrings.
  5. The most sought-after type of earrings were round-cut diamond studs weighing one carat, as cited by 41% of women.
  6. Tennis bracelets were favoured by 51% of women, followed by bangles (26%).
  7. 39% of women said they liked wearing a single bracelet, while 47% said they preferred to wear bracelets in stacks.
  8. Merely 11% of jewelry-loving women said they would rather not wear rings.
  9. 37% of women favored band rings, while 52% of women selected statement rings.
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