Online Jewelry Market Size & Industry Share - Growth Trends & Forecasts (2023 - 2030)

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 share in the overall online jewelry market. 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 demand for fine jewelry.

However, the fashion jewelry segment is expected to grow at 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 aforementioned benefits will aid to boost 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 share in the overall online jewelry market. 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 demand.

However, the rings segment is expected to grow at 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 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 demand of the segment, in turn, fostering the online jewelry market growth.

However, the diamond segment is expected to grow at 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, the aforementioned factors are likely to create profitable avenues for market growth 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 highest market share in the overall online jewelry market and is also expected to grow at 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 growth of the online jewelry market by providing customers with a convenient and accessible platform to purchase jewelry, in turn, propel the market growth.

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 growth of the online jewelry market. The combination of shopping convenience, 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 the growth of the online jewelry industry during the forecast period.

Based on the Region :

The regional segment includes North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

In 2022, Asia Pacific accounted for the highest market share of 35.75% and was 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, 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, 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 market growth over the forecast period.