The revenue in the 'Luxury Jewelry' segment of the luxury goods market in China was forecast to continuously increase between 2024 and 2029 by in total 20.4 billion U.S. dollars (+42.62 percent). After the ninth consecutive increasing year, the revenue is estimated to reach 68.24 billion U.S. dollars and therefore a new peak in 2029.
Data provided by Statista Market Insights are estimates.
Together with watches, jewelry constitutes a part of the market that is called “hard luxury” to differentiate it from fashion, accessories and cosmetics, which are made from “soft” materials.
LVMH’s Bulgari and Cartier as well as Richemont’s Van Cleef & Arpels and Piaget are examples of household brand names in this sector, which is otherwise characterized by jewelers’ own brands, with Tiffany, Lao Feng Xiang, Titan, Chow Sang Sang and Luk Fook being the biggest players in this field. The shown market data are based on an analysis of more than 100 of the biggest luxury companies in the world. A complete list of all companies and brands covered can be found in the methodology description. Accordingly, watches from smaller companies or artisanal production unaffiliated with the companies covered are not included. All data is shown at retail value, which includes markups for retail distribution and sales taxes.
Growth has lately been stimulated mostly by emerging markets but ever since the period of sagging demand in Greater China began, the global outlook can at best be described as stable.
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Statista. (September 12, 2024). Revenue of the luxury jewelry market in China from 2019 to 2029 (in billion U.S. dollars) [Graph]. In Statista. Retrieved October 06, 2024, from https://www.statista.com/forecasts/1308514/china-luxury-jewelry-market-revenue
Statista. "Revenue of the luxury jewelry market in China from 2019 to 2029 (in billion U.S. dollars)." Chart. September 12, 2024. Statista. Accessed October 06, 2024. https://www.statista.com/forecasts/1308514/china-luxury-jewelry-market-revenue
Statista. (2024). Revenue of the luxury jewelry market in China from 2019 to 2029 (in billion U.S. dollars). Statista. Statista Inc.. Accessed: October 06, 2024. https://www.statista.com/forecasts/1308514/china-luxury-jewelry-market-revenue
Statista. "Revenue of The Luxury Jewelry Market in China from 2019 to 2029 (in Billion U.S. Dollars)." Statista, Statista Inc., 12 Sep 2024, https://www.statista.com/forecasts/1308514/china-luxury-jewelry-market-revenue
Statista, Revenue of the luxury jewelry market in China from 2019 to 2029 (in billion U.S. dollars) Statista, https://www.statista.com/forecasts/1308514/china-luxury-jewelry-market-revenue (last visited October 06, 2024)
Revenue of the luxury jewelry market in China from 2019 to 2029 (in billion U.S. dollars) [Graph], Statista, September 12, 2024. [Online]. Available: https://www.statista.com/forecasts/1308514/china-luxury-jewelry-market-revenue