- Summary
- Table Of Content
- Methodology
Online Jewelry Market Introduction :
Consegic Business Intelligence analyzes that the Online Jewelry Market is growing with a CAGR of 13.8% during the forecast period (2023-2030), and the market is projected to be valued at 113,146.29 Million by 2030 from 40,391.94 Million in 2022.
Online Jewelry Market Definition & Overview:
The online jewelry market refers to the buying and selling of jewelry products through internet-based platforms, including e-commerce websites, online marketplaces, and mobile applications. The retailers leverage technology to showcase their products effectively, providing high-quality images, detailed product descriptions, and interactive features. The market has experienced significant growth in recent years due to advancements in e-commerce, increased internet penetration, and changing consumer preferences. Overall, the market offers a wide range of benefits and opportunities for both retailers as well as consumers.
Online Jewelry Market Insights :
Online Jewelry Market Dynamics - (DRO) :
Key Drivers :
Social media and influencer marketing are fostering the online jewelry market growth
Social media platforms have become popular channels for jewelry brands to showcase their products. Influencer collaborations further amplify the exposure and introduce brands to new potential customers. The major factor propelling the market growth is the rise in the number of social media users.
- For instance, according to the statistics published by Statistics and Data, in 2022, the number of social media users amounted to 4.59 billion and is expected to reach 5.85 billion by 2027.
Furthermore, jewelry brands often offer exclusive discounts, promotions, and collaborations through their social media channels. This enables customers to gain access to special deals and limited-edition collections, in turn, driving online purchases. Therefore, the aforementioned factors are noteworthy factors determining an expected increase in the online jewelry market growth.
The improvement of online interfaces has augmented the demand for online jewelry.
User-friendly interfaces and intuitive website designs have made online jewelry shopping more engaging and enjoyable for consumers. Improved online platforms have invested in high-quality images and product videos to showcase product offerings effectively. Additionally, many online retailers have incorporated virtual try-on features using AR technology. Hence, the analysis of market trends shows that these advancing technologies are creating a positive impact on the online jewelry market demand.
Key Restraints :
Authenticity concerns for high-value purchases are likely to deter the demand for online jewelry.
The prevalence of counterfeit jewelry can erode trust in online platforms and discourage consumers from making expensive jewelry purchases through online platforms. Moreover, the key factor that is likely to hamper market growth is the inability of the customer to physically examine or assess the jewelry before making a purchase. Therefore, the market trends analysis concludes that these limitations associated with online shopping are likely to limit the adoption, in turn, hampering the online jewelry market expansion.
Future Opportunities :
Rapidly growing mobile commerce and app-based shopping will aid in to surge in the demand for online jewelry.
Mobile commerce allows customers to shop for jewelry at ease and browse through a wide variety of options, compare prices, and purchases in less time. In addition, mobile apps offer personalized recommendations based on user preferences, users get notified of new arrivals or promotions, and enable easy payment options, which makes the shopping experience more user-friendly. Moreover, technological advancements such as 360-degree product views, augmented reality (AR), and virtual try-on options, among others are salient features proliferating the market. Thus, trends analysis depicts that the above-mentioned benefits are likely to foster the online jewelry market opportunities over the forecast period.
Online Jewelry Market Report Insights :
| Report Attributes | Report Details |
| Study Timeline | 2017-2030 |
| Market Size in 2030 | USD 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-User | Men and Women |
| By Distribution Channel | Company-Owned Websites and E-Commerce Websites |
| By Region | North America, Europe, Asia-Pacific, Latin America, and 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 |
Online Jewelry Market Segmental Analysis :
Based on the Type :
The type segment is categorized into fine jewelry and fashion jewelry.
In 2022, the fine jewelry segment accounted for the highest market revenue in the overall online jewelry market share. The growth of the segment is attributed to the growing demand for precious stones such as diamonds and gold, creating an upsurge in the market expansion. Additionally, fine jewelry is also considered an asset and investment. This investment aspect is one of the significant factors propelling the market.
However, the fashion jewelry segment is expected to grow as the fastest-growing segment in the market during the forecast period. Fashion jewelry offers an affordable alternative to fine jewelry, allowing customers to follow current trends. In addition, this type of jewelry is available in a wide range of designs, materials, and styles. Hence, the segmental trends analysis shows that the aforementioned benefits will aid in boosting product usage in the forecast years.
Based on the Product Type :
The product type segment is categorized into necklaces & pendants, rings, earrings, bracelets, brooches, and others.
In 2022, the earrings segment accounted for the highest market revenue in the overall online jewelry market share. Online platforms provide a vast selection of earrings in different styles, designs, and materials. Moreover, earrings make popular gifts for various occasions, and festive seasons, among others contributing to the growing product adoption.
However, the rings segment is expected to grow as the fastest-growing segment in the market during the forecast period. Rings hold an immense symbolic value and are commonly used to signify important milestones such as engagements, weddings, anniversaries, and other special occasions. The emotional significance attached to these events creates a constant demand for rings. As a result, the aforementioned factors are likely to generate a high demand for rings over the forecast period.
Based on the Material :
The material segment is categorized into diamond, gold, platinum, silver, gemstones, and others.
In 2022, the gold segment accounted for the highest market share of 30.05% in the overall online jewelry market. The demand for gold jewelry is particularly strong in emerging economies, where rising incomes and an expanding middle-class population have increased consumer purchasing power. Overall, the enduring cultural significance, fashion appeal, investment value, and the role of gold in celebrations contribute to the increased adoption of the segment, in turn, fostering the online jewelry market demand.
However, the diamond segment is expected to grow as the fastest-growing segment in the market during the forecast period. Diamonds are considered a luxury item and a status symbol. The rise in disposable income and increasing demand for luxury goods are influencing factors contributing to the growth of the segment. Additionally, diamond jewelry offers versatility and durability, making it an ideal choice for formal and casual occasions. Hence, analysis of segmental trends depicts that the aforementioned factors are likely to create profitable avenues for the market in the following years.
Based on the Distribution Channel :
The distribution channel segment is categorized into company-owned websites and e-commerce websites.
In 2022, the e-commerce websites segment accounted for the largest revenue and is also expected to grow as the fastest-growing segment in the market during the forecast period. E-commerce websites provide a global platform, allowing access to numerous brands beyond their local markets. In addition, e-commerce websites have an extensive product range that allows customers to browse through a variety of styles, designs, metals, gemstones, and price ranges. Hence, the above-mentioned benefits have contributed to the market by providing customers with a convenient and accessible platform to purchase jewelry, in turn, propel the online jewelry market trends.
Based on the End-User :
The end users segment is classified into men and women.
In 2022, the women segment accounted for the highest market share and is also expected to grow at the fastest CAGR over the forecast period in the online jewelry market. Women play a significant role in driving the market. The combination of shopping convenience, a wide range of product offerings, customization options, and social media influence has made the online jewelry market particularly appealing to women. As a result, women are likely to become a key demographic contributing to online jewelry market trends during the forecast period.
Based on the Region :
The regional segment includes North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America.
In 2022, Asia Pacific accounted for the highest market share of 35.75% valued at USD 14,440.12 million, and is expected to reach USD 40,596.89 million in 2030. In Asia Pacific, China accounted for the highest market share of 26.05% during the base year 2022 owing to the rise in disposable income and purchasing power to increasingly willing to spend on luxury and fashion items including jewelry. In addition to this, as per the online jewelry market analysis, the Asia Pacific region has witnessed a rapid increase in internet penetration and smartphone usage, providing a large consumer base for online jewelry shopping.
Moreover, the regional analysis depicts that North America is expected to grow at the fastest CAGR of 14.8% during the forecast period due to the well-developed e-commerce infrastructure, including robust payment systems, reliable logistics networks, and widespread internet penetration. This has created a favorable environment for online jewelry retailers to establish their presence and cater to a broad customer base, in turn, accelerating the online jewelry market expansion over the forecast period.
Top Key Players & Market Share Insights:
The global online jewelry market is highly competitive, with several large players and numerous small and medium-sized enterprises. These companies have strong research and development capabilities and a strong presence in the market through their extensive product portfolios and distribution networks. 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. The key players in the online jewelry industry include-
- T&CO.
- Harry Winston, Inc.
- HStern
- GRAFF
- RENAISSANCE GLOBAL LIMITED
- De Beers Forevermark
- Pandora
- CARTIER
- Le Petit-fils de L.U. Chopard & Cie S.A.
- Swarovski
- Pomellato S.p.A.
Recent Industry Developments :
- In August 2022, Pandora launched their new collection with lab-created diamonds and 100% recycled silver and gold.
- In December 2021, Harry Winston, Inc. announced the opening of their new retail salon in Milan, Italy.
Key Questions Answered in the Report
What was the market size of the online jewelry market in 2022? +
In 2022, the market size of online jewelry was USD 40,391.94 million
What will be the potential market valuation for the online jewelry market by 2030? +
In 2030, the market size of online jewelry will be expected to reach USD 113,146.29 million.
What are the key factors driving the growth of the online jewelry market? +
The rise in social media and influencer marketing are the key factors driving the growth of the online jewelry market.
What is the dominating segment in the online jewelry market by material? +
In 2022, the gold segment accounted for the highest market share of 30.05% in the overall online jewelry market.
Based on current market trends and future predictions, which geographical region will have the fastest impact on the online jewelry market's growth in the coming years? +
North America is expected to be the fastest-growing region in the market during the forecast period.
