HOW BIG IS THE JEWELRY MARKET?
According to Grand View Research, the global jewelry market value in 2023 is USD 340.69 billion. This number is based on 2022 end data.
- For comparison, in 2014, the global jewelry market was valued at USD 157 billion.
- During the past nine years, the jewelry market value has grown by $183 billion, more than doubling in size.
In fact, these figures have made jewelry one of the fastest-growing segments in fashion during the past five years.
Let’s decode these numbers.
HOW ABOUT THE ONLINE JEWELRY MARKET?
With eCommerce sales contributing $57.4 billion, approximately 16.7% of all jewelry sales are made online.
Since eCommerce accounts for 20.8% of all retail sales, the jewelry market has experienced a slightly slower transition online than the average product.
The global online jewelry market is forecast to reach $117.3 billion in size by 2027. This means that online jewelry is expected to see a compound annual growth rate of 19.56%.
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