Global Gold and Diamond Jewellery Market, By Type (Rings, Necklaces, Earrings), By Application, and By Region - Trends and Forecast Analysis, 2021-2035

Global Gold and Diamond Jewellery Market Size is expected to reach USD 26.66 Billion by 2035 from USD 4.56 Billion in 2024, with a CAGR of around 17.4% between 2024 and 2035. The global gold and diamond jewellery market has been driven by rising disposable income and increasing demand for luxury gifting. Consumers have spent more on premium accessories as living standards improved. Weddings and festivals have continued to fuel sales, especially in regions with strong cultural ties to gold. For example, gold bridal sets have been widely purchased during Indian wedding seasons. Similarly, diamond rings have been gifted during engagements in urban U.S. households. However, market growth has been restrained by fluctuating raw material prices. Retailers have faced challenges in maintaining consistent pricing, which has delayed purchases during volatile periods. Despite this, significant opportunities have been created through online retail growth and customization trends. Virtual showrooms and try-on tools have helped increase online jewellery sales, especially among younger buyers. A customer in Dubai recently designed her own diamond necklace online and received it within days. Another opportunity lies in sustainability and ethical sourcing. Brands using lab-grown diamonds and recycled gold have attracted eco-conscious consumers. A Canadian startup gained popularity by offering traceable, conflict-free diamond studs. As technology and transparency improve, customer trust has been strengthened. Overall, the market has evolved through innovation, shifting cultural patterns, and growing attention toward value-driven, personal purchases.

Driver: Luxury Gifting Sparks Global Demand

One of the strongest drivers for the gold and diamond jewellery market has been the growing demand for luxury gifting. Jewellery has long been associated with emotional value, making it a preferred choice for special occasions. As consumer lifestyles have improved and spending power increased, people have begun to invest more in high-end gifts that carry meaning and prestige. This trend has been especially visible during life milestones such as anniversaries, birthdays, and promotions. In Southeast Asia, diamond bracelets have become a popular choice for retirement gifts among business executives. In Europe, minimalist gold pendants have been gifted to celebrate graduation or first jobs, symbolizing achievement and growth. Luxury brands have responded with curated collections for such moments, often including personal engraving or birthstone accents. In one case, a man in Australia gifted a custom diamond pendant to his partner to mark the birth of their child, making the piece both sentimental and valuable. Social media has also amplified this trend, as shared moments involving luxury gifts have inspired others to follow suit. With emotions tied closely to jewellery purchases, the market has benefited from consistent demand driven by the human desire to celebrate, honor, and express affection through timeless treasures.

Key Insights:

• The adoption rate of gold and diamond jewelry among millennials and Gen Z consumers has increased to approximately 40%, driven by preferences for lab-grown diamonds and sustainable practices.

• In 2024, the Indian government reduced import duties on gold and silver to 6%, boosting domestic value addition and increasing jewelry production.

• The global jewelry industry utilized over 2,150 metric tons of gold in 2023, making it the largest consumer of gold among all sectors.

• The penetration rate of diamond jewelry in bridal collections worldwide is estimated to be around 50%, reflecting its strong association with weddings.

• Major jewelry companies, such as LVMH Group, invested over $10 billion in 2024 in expanding their luxury jewelry brands like Bulgari and Tiffany & Co.

• The annual growth rate for lab-grown diamond adoption has been reported at approximately 15%, driven by ethical and budgetary considerations.

• By the end of 2024, the cumulative production of lab-created diamonds globally is expected to reach nearly $10 billion in value.

• The use of gold jewelry for cultural and religious events in countries like India accounts for approximately 60% of domestic consumption annually.

Segment Analysis:

The gold and diamond jewellery market has been segmented by type into rings, necklaces, and earrings, and by application into wedding, festival, and fashion. Rings have remained the most emotionally symbolic category, often used in engagements and anniversaries. In South Korea, young couples have embraced diamond promise rings to mark relationship milestones before marriage. Necklaces have seen strong demand for their statement value, especially in formal and festive settings. A businesswoman in Nigeria recently wore a layered gold necklace set to a cultural celebration, reflecting both tradition and status. Earrings, on the other hand, have become everyday essentials, blending elegance with daily wear. In urban France, minimalistic diamond studs have been popular among working professionals for their subtle shine and versatility. By application, weddings have continued to dominate the market, where full jewellery sets are gifted or worn as part of tradition. In rural Pakistan, families have invested in custom gold sets for bridal dowries, seeing them as both cultural and financial assets. Festival demand has surged during events like Lunar New Year or Diwali, with buyers choosing ornate pieces to mark the occasion. Fashion-focused purchases have grown too, especially among Gen Z shoppers seeking bold, trend-led designs that blend fine jewellery with personal style statements.

Regional Analysis:

The global gold and diamond jewellery market has shown diverse patterns across North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In North America, demand has been driven by personalization and self-expression, with consumers choosing dainty diamond rings with initials or birthstones. A fashion influencer in New York recently launched a custom charm necklace that quickly sold out. In Europe, heritage and craftsmanship have remained key, with buyers investing in timeless gold pieces. An artisan brand in Italy has gained attention for reviving traditional filigree techniques in its luxury earrings. In Asia-Pacific, cultural significance and family gifting have kept the market strong. A mother in Thailand bought matching gold bangles for her twin daughters during a temple ceremony, reflecting generational bonding. Latin America has embraced bold designs and colored stones, with buyers leaning toward statement earrings for festive occasions. In Brazil, a designer launched a carnival-themed jewellery line that featured gold and diamonds set with local gemstones. In the Middle East & Africa, jewellery continues to serve both as adornment and financial security. A family in the UAE purchased a bridal set with detachable pieces to wear across multiple events, showing the region’s taste for multifunctional elegance and lasting value.

Competitive Scenario:

Leading companies in the gold and diamond jewellery market have recently focused on strategic expansions and sustainability initiatives. Chow Tai Fook has expanded its retail footprint, operating over 7,000 points of sale by the end of 2024, and acquired colored gem specialist ENZO to diversify its offerings. The company also partnered with the Gemological Institute of America to implement blockchain technology for enhanced diamond traceability. Luk Fook has been recognized as a finalist for the JNA "Retailer of the Year" award, highlighting its commitment to excellence. In India, Malabar Gold & Diamonds has introduced new diamond necklace sets, catering to the growing demand for bridal jewellery. International brands like Tiffany & Co. and Cartier have expanded their presence in India, opening stores in major cities to tap into the burgeoning luxury market. Swarovski has enhanced its e-commerce platform, offering a seamless online shopping experience. De Beers has noted India's emergence as the second-largest diamond market, surpassing China. These developments reflect the industry's focus on expansion, technological integration, and sustainability to meet evolving consumer preferences.

Gold and Diamond Jewellery Market Report Scope

The Global Gold and Diamond Jewellery Market report is segmented as follows:

By Type,

• Rings
• Necklaces
• Earrings

By Application,

• Wedding
• Festival
• Fashion

By Region,

• North America
• U.S.
• Canada
• Mexico
• Europe
• UK
• Germany
• France
• Spain
• Italy
• Russia
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• South Korea
• Australia
• Southeast Asia
• Rest of Asia Pacific
• Latin America
• Brazil
• Argentina
• Rest of Latin America
• Middle East & Africa
• Saudi Arabia
• UAE
• South Africa
• Rest of Middle East and Africa

Key Market Players,

• Chow Tai Fook
• Richemont
• Signet Jewellers
• Swatch Group
• Rajesh Exports
• Lao Feng Xiang
• Tiffany
• Malabar Gold and Diamonds
• LVMH Moet Hennessy
• Zocai
• Swarovski Corporation
• Chow Sang Sang
• Luk Fook
• Pandora
• Damiani
• Stuller
• Gitanjali Group
• GUCCI
• Graff Diamond
• Damas International
• Buccellati
• De Beers
• Blue Nile
• CHANEL

Research Objectives

• Proliferation and maturation of trade in the global Gold and Diamond Jewellery Market.
• The market share of the global Gold and Diamond Jewellery Market, supply and demand ratio, growth revenue, supply chain analysis, and business overview.
• Current and future market trends that are influencing the growth opportunities and growth rate of the global Gold and Diamond Jewellery Market.
• Feasibility study, new market insights, company profiles, investment return, market size of the global Gold and Diamond Jewellery Market.