Diamond jewelry market 2023-2027: A descriptive analysis of five forces model, market dynamics, and segmentation - Technavio
NEW YORK, Feb. 8, 2023 /PRNewswire/ -- According to Technavio, the global diamond jewelry market size is estimated to grow by USD 16.6 billion from 2022 to 2027. The market is estimated to grow at a CAGR of 3% during the forecast period. North America will account for 44% of the market's growth during the forecast period.
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Global Diamond Jewelry Market - Five Forces
The global diamond jewelry market is fragmented, and the five forces analysis covers–
Bargaining Power of Buyers
The threat of New Entrants
Threat of Rivalry
Bargaining Power of Suppliers
Threat of Substitutes
Interpretation of porter's five models helps to strategize the business, for entire details – buy the report!
Global diamond jewelry market – Customer landscape
The report includes the market's adoption lifecycle, from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global diamond jewelry market - Segmentation assessment
Technavio has segmented the market based on type (rings, necklaces, earrings, bangles, and pendants), distribution channel (specialty stores, department stores, discounters, online retailers, and others), and geography (North America, APAC, Europe, Middle East and Africa, and South America).
The rings segment will grow at the highest rate during the forecast period. The rising demand for premium products from middle-class customers during weddings and festivities encourages vendors to venture into the premium products category. Diamond rings are particularly popular in North America and Europe, where customers are highly brand conscious. The availability of various designs in rings is expected to attract customers and drive the market during the forecast period.
By geography, the global diamond jewelry market is segmented into North America, APAC, Europe, the Middle East and Africa, and South America. The report provides actionable insights and estimates the contribution of all regions to the growth of the global diamond jewelry market.
North America will account for 44% of the market's growth during the forecast period. The North American diamond jewelry market is experiencing high demand for personalized and unique design jewelry with cut and polished diamonds, particularly in wedding rings. The demand for designer jewelry in the North American market peaks during the festive and wedding seasons. Moreover, the growth of the diamond jewelry market in the US is also driven by the rising technological innovation in online retail. Hence, all these factors will drive the diamond jewelry market in North America.
Global diamond jewelry market – Market dynamics
Key factor driving market growth
Innovation in terms of design and manufacturing technology is notably driving market growth.
Unique and innovative jewelry designs, combined with high-quality precious metals and authentic gemstones, are key factors that set companies apart in a competitive jewelry market.
The demand for innovative jewelry designs is driving the market, as consumers are willing to pay a premium price due to their increasing fashion consciousness.
Furthermore, factors like the growing demand for wedding jewelry and the growth of e-retailers providing convenient services will also drive the diamond jewelry market during the forecast period.
Leading trends influencing the market
The growing number of market vendors making diamond jewelry of different designs is the key trend in the market.
The growth of the diamond jewelry market during the forecast period will be driven by the expansion of vendors worldwide due to increasing demand for diverse jewelry designs.
Furthermore, factors like increasing adoption of omnichannel strategies and increasing M&A and partnership activities will also act as a major trend and will drive the market during the forecast period.
Major challenges hindering the market growth
The presence of counterfeit products in the e-retailing space is the major challenge impeding market growth.
The growth of the diamond jewelry e-retail market is hindered by the proliferation of counterfeit products due to growing brand consciousness and preference for luxury goods. Counterfeiters use digital marketing strategies, such as pay-per-click campaigns, to mimic top brands and attract customers with fake products at lower prices.
These counterfeit products are more prevalent in the Middle East and Southeast Asia, including UAE, Saudi Arabia, Indonesia, China, India, Malaysia, and Singapore, which will slow down market growth during the forecast period.
Driver, Trend & Challenges are the factor of market dynamics which states about consequences & sustainability of the businesses, find some insights from a sample report!
What are the key data covered in this diamond jewelry market report?
CAGR of the market during the forecast period
Detailed information on factors that will drive the growth of the diamond jewelry market between 2023 and 2027
Precise estimation of the size of the diamond jewelry market and its contribution to the parent market
Accurate predictions about upcoming trends and changes in consumer behavior
Growth of the diamond jewelry markets across North America, APAC, Europe, Middle East and Africa, and South America
A thorough analysis of the market's competitive landscape and detailed information about vendors
Comprehensive analysis of factors that will challenge the growth of the diamond jewelry market vendors
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Related Reports:Gems and Jewelry Market by Distribution Channel, Type and Geography - Forecast and Analysis 2023-2027: The gems and jewelry market is estimated to grow at a CAGR of 7.55% between 2022 and 2027. The size of the market is forecast to increase by USD 137.48 billion. Innovation in terms of design and manufacturing technology is notably driving the market growth, although factors such as the rising labor cost and fluctuating raw material prices may impede the market growth.
Costume Jewelry Market in India Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2022-2026: The costume jewelry market share in India is expected to increase to USD 552.73 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 8.08%. The affordable pricing of costume jewelry is notably driving the costume jewelry market growth in India, although factors such as lack of durability may impede the market growth.
Diamond Jewelry Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 3%
Market growth 2023-2027
USD 16.6 billion
YoY growth 2022-2023 (%)
North America, APAC, Europe, Middle East and Africa, and South America
Performing market contribution
North America at 44%
US, China, India, Japan, and UK
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled
Anglo American plc, BlueStone Jewellery and Lifestyle Pvt. Ltd., Brilliant Earth LLC, Cartier SA, CHANEL Ltd., Compagnie Financiere Richemont SA, DAMIANI S.p.A., F.lli Pisa SRL, Graff Diamonds Ltd., Harry Winston Inc., Kalyan Jewellers India Ltd., Kering SA, Le petit fils de L.U. Chopard and Cie SA, LVMH Moet Hennessy Louis Vuitton SE, Malabar Gold and Diamonds, Pandora AS, Parker Diamonds, Signet Jewelers Ltd., Swarovski AG, Tacori Inc., and Tata Sons Pvt. Ltd.
Parent Market Analysis; Market growth inducers and obstacles; Fast-growing and slow-growing segment analysis for the forecast period
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Table of Contents
1 Executive Summary
1.1 Market overview
2 Market Landscape
2.1 Market ecosystem
3 Market Sizing
3.1 Market definition
3.2 Market segment analysis
3.3 Market size 2022
3.4 Market outlook: Forecast for 2022-2027
4 Historic Market Size
4.1 Global diamond jewelry market 2017 - 2021
4.2 Product Type Segment Analysis 2017 - 2021
4.3 Distribution channel Segment Analysis 2017 - 2021
4.4 Geography Segment Analysis 2017 - 2021
4.5 Country Segment Analysis 2017 - 2021
5 Five Forces Analysis
5.1 Five forces summary
5.2 Bargaining power of buyers
5.3 Bargaining power of suppliers
5.4 Threat of new entrants
5.5 Threat of substitutes
5.6 Threat of rivalry
5.7 Market condition
6 Market Segmentation by Product Type
6.1 Market segments
6.2 Comparison by Product Type
6.3 Rings - Market size and forecast 2022-2027
6.4 Necklaces - Market size and forecast 2022-2027
6.5 Earrings - Market size and forecast 2022-2027
6.6 Bangles - Market size and forecast 2022-2027
6.7 Pendants - Market size and forecast 2022-2027
6.8 Market opportunity by Product Type
7 Market Segmentation by Distribution Channel
7.1 Market segments
7.2 Comparison by Distribution Channel
7.3 Specialty stores - Market size and forecast 2022-2027
7.4 Department stores - Market size and forecast 2022-2027
7.5 Discounters - Market size and forecast 2022-2027
7.6 Online retailers - Market size and forecast 2022-2027
7.7 Others - Market size and forecast 2022-2027
7.8 Market opportunity by Distribution Channel
8 Customer Landscape
8.1 Customer landscape overview
9 Geographic Landscape
9.1 Geographic segmentation
9.2 Geographic comparison
9.3 North America - Market size and forecast 2022-2027
9.4 APAC - Market size and forecast 2022-2027
9.5 Europe - Market size and forecast 2022-2027
9.6 Middle East and Africa - Market size and forecast 2022-2027
9.7 South America - Market size and forecast 2022-2027
9.8 US - Market size and forecast 2022-2027
9.9 China - Market size and forecast 2022-2027
9.10 India - Market size and forecast 2022-2027
9.11 Japan - Market size and forecast 2022-2027
9.12 UK - Market size and forecast 2022-2027
9.13 Market opportunity by geography
10 Drivers, Challenges, and Trends
10.1 Market drivers
10.2 Market challenges
10.3 Impact of drivers and challenges
10.4 Market trends
11 Vendor Landscape
11.2 Vendor landscape
11.3 Landscape disruption
11.4 Industry risks
12 Vendor Analysis
12.1 Vendors covered
12.2 Market positioning of vendors
12.3 Anglo American plc
12.4 Brilliant Earth LLC
12.5 Cartier SA
12.6 Compagnie Financiere Richemont SA
12.7 DAMIANI S.p.A.
12.8 F.lli Pisa SRL
12.9 Harry Winston Inc.
12.10 Kering SA
12.11 Le petit fils de L.U. Chopard and Cie SA
12.12 LVMH Moet Hennessy Louis Vuitton SE
12.13 Malabar Gold and Diamonds
12.14 Parker Diamonds
12.15 Signet Jewelers Ltd.
12.16 Tacori Inc.
12.17 Tata Sons Pvt. Ltd.
13.1 Scope of the report
13.2 Inclusions and exclusions checklist
13.3 Currency conversion rates for US$
13.4 Research methodology
13.5 List of abbreviations
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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