New York, July 07, 2023 (GLOBE NEWSWIRE) -- The global Online Jewelry Market is expected to witness significant growth at a CAGR of 13.8% during the forecast period of 2023-2030. This growth is attributed to the extensive product offering that allows customers to find jewelry that suits their preferences and budget.
According to a recent report by Consegic Business Intelligence, the online jewelry market is poised for strong expansion and is expected to reach USD 113,146.29 million by 2030. The market, which was valued at USD 40,391.94 million in 2022, is predicted to grow at a compound annual growth rate of 13.8% during the period 2023-2030. Consegic Business Intelligence study also provides insights into the market's competitive landscape, market segmentation, regional outlook, and emerging technologies in the online jewelry market.
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Online jewelry shopping has emerged as a popular and convenient way for consumers to explore, chose, and purchase a wide variety of jewelry items through online platforms. One of the primary advantages of online jewelry shopping is the convenience it offers. Customers can browse through a vast range of jewelry options from the comfort of their homes, eliminating the need to visit physical stores. Furthermore, online jewelry platforms provide customers with extensive product information, including detailed descriptions, high-resolution images, and videos.
Online jewelry categories include rings, necklaces, charms, brooches, earrings, and bracelets among others. In addition, customers can explore various designs, metals, gemstones, and customization options that reflect their style and preferences.
Global Online Jewelry Market: Report Attributes
| Report Attributes | Report Details |
| Study Timeline | 2017-2030 |
| Market Size in 2030 (USD Million) | 113,146.29 Million |
| CAGR (2023-2030) | 13.8% |
| By Type | Fine Jewelry and Fashion Jewelry |
| By Product Type | Necklaces & Pendants, Rings, Earrings, Bracelets, Brooches, and Others |
| By Material | Diamond, Gold, Platinum, Silver, Gemstones, and Others |
| By End Users | Men and Women |
| By Distribution Channel | Company-Owned Websites and E-Commerce Websites |
| Report Coverage | Company Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more. |
| By Region | North America, Asia-Pacific, Latin America, Europe, Middle East & Africa |
| Key Players | T&CO., Harry Winston, Inc., De Beers Forevermark, Pandora, CARTIER, Le Petit-fils de L.U. Chopard & Cie S.A., Swarovski, Pomellato S.p.A., HStern, GRAFF, and RENAISSANCE GLOBAL LIMITED |
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Global Online Jewelry Market Segmentation Details:
Based on Type, in 2022, the fine jewelry segment contributed the largest market shares in the online jewelry market. Fine jewelry is often seen as a symbol of investment that can appreciate in value over time. Rising incomes and improving economic conditions have led to an increase in consumer spending on fine jewelry. In addition, the increasing adoption of online retail and e-commerce is another influencing factor contributing to the segment growth.
Based on Product Type, in 2022, the earrings segment contributed the largest market shares in the online jewelry market. The key factor spurring the segment growth is the ease of online shopping and the availability of a vast selection of earrings, catering to various styles, designs, materials, and price ranges.
Based on Material, in 2022, the gold segment contributed the largest market shares in the online jewelry market. The demand for gold jewelry is increasing in emerging markets, such as India and China, where rising incomes, urbanization, and changing consumer preferences are propelling jewelry consumption. In addition to this, the steady increase in gold prices is also a significant factor contributing to the segment growth. For instance, according to the statistics published by the World Gold Council, the total annual gold supply increased by 2% in 2022 from the previous year.
Based on End Users, in 2022, the women segment contributed the largest market share in the online jewelry market. The convenience, extensive selection, competitive pricing, and customization options are major factors contributing to the rising number of women opting to shop for jewelry online.
Based on Distribution Channel, in 2022, the e-commerce websites segment contributed the largest market shares in the online jewelry market. The major factor fostering segment growth is the increasing technological advances in online shopping. E-commerce websites offer products from a wide range of brands along with frequent discounts, and promotions, among others. These factors collectively contribute to the increasing sales of jewelry on e-commerce websites.
Based on Region, in 2022, Asia Pacific accounted for the largest share contribution to the market growth driven by the rise in disposable income in countries such as China, India, and Southeast Asian nations. Moreover, the prevalence of major gold-producing countries in the Asia Pacific region is likely to create lucrative opportunities for key players operating in the online jewelry market. For instance, according to the report published by the World Gold Council, China was the largest producer in the world in 2022 and accounted for approximately 10% of total global production.
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Competitive Landscape
As per the research, Harry Winston, Inc., Pandora, CARTIER, and Swarovski are major market players that comprise the latest market circumstances. These companies are continuously leveraging new technologies to develop innovative solutions that are more efficient, and cost-effective. Further, the online jewelry market is expected to grow steadily due to the shift in consumer preferences toward mobile commerce and e-commerce. The market is characterized by intense competition, with companies focusing on expanding their product offerings and increasing their market share through mergers, acquisitions, and partnerships.
Recent Developments
- In December 2022, Cartier launched their new boutique in Sydney.
- In June 2023, Harry Winston, Inc. announced the opening of its first retail salon in Nanjing, China.
Key Market Takeaways
- Based on type, the fine jewelry segment accounted for the highest market share in the online jewelry market statistics in 2022.
- Based on product type, the earrings segment accounted for the highest market share in the online jewelry market statistics in 2022.
- Based on material, the gold segment accounted for the highest market share of 30.05% in the online jewelry market statistics in 2022.
- By end users, the women segment is anticipated to contribute the largest shares to the market growth in 2022.
- Based on distribution channel, the e-commerce websites segment accounted for the highest market share in the online jewelry market statistics in 2022.
- In 2022, Asia Pacific accounted for the highest market share at 35.75% and was valued at USD 14,440.12 million, and is expected to reach USD 40,596.89 million in 2030.
List of Major Global Online Jewelry Market:
- T&CO.
- Harry Winston, Inc.
- De Beers Forevermark
- Pandora
- CARTIER
- Le Petit-fils de L.U. Chopard & Cie S.A.
- Swarovski
- Pomellato S.p.A.
- HStern
- GRAFF
- RENAISSANCE GLOBAL LIMITED
Global Online Jewelry Market Segmentation:
- By Type
- Fine Jewelry
- Fashion Jewelry
- By Product Type
- Necklaces & Pendants
- Rings
- Earrings
- Bracelets
- Brooches
- Others
- By Material
- Diamond
- Gold
- Platinum
- Silver
- Gemstones
- Others
- By End Users
- Men
- Women
- By Distribution Channel
- Company-Owned Websites
- E-Commerce Websites
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Frequently Asked Questions in the Online Jewelry Market Report
- What was the market size of online jewelry in 2022?
- In 2022, the market size of online jewelry was USD 40,391.94 million.
- What will be the potential market valuation for online jewelry by 2030?
- In 2030, the market size of online jewelry will be expected to reach 113,146.29 million.
- What is the key restraint hampering the growth of the online jewelry market?
- The authenticity concerns for high-value purchases is likely to hamper the demand for online jewelry.
- What is the dominating segment in the online jewelry market, by end-user?
- In 2022, the women segment accounted for the highest market share in the overall online jewelry market.
- Based on current market trends, which geographical region contributed the largest share in the market?
- Asia Pacific accounted for the largest market share in the online jewelry market.
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