Luxury jewelry market seen doubling to $123.7 billion by 2035

The luxury jewelry market is projected to grow from $56.3 billion in 2025 to $123.7 billion by 2035, driven by sustainability, personalization and digital retail. The forecast highlights rising demand for ethically sourced materials, premium craftsmanship and luxury brands’ push into new technologies. Why it matters: - The luxury jewelry market is moving from status-driven buying toward purchases shaped by sustainability, individuality and emotional value. - The shift is expanding demand for ethically sourced gemstones, recycled precious metals and customized pieces. - Brands that adapt to these preferences are positioned to win younger buyers and protect long-term loyalty. What happened: - Market Research Future projects the global luxury jewelry market will rise from $56.3 billion in 2025 to $123.7 billion by 2035. - The forecast implies an 8.20% compound annual growth rate from 2025 to 2035. - The market was valued at $52 billion in 2024. - The report is based in New York and dated June 17, 2026. - A complimentary report sample is available here . The details: - Rising disposable incomes, changing fashion preferences and digital retail adoption are supporting market growth. - Luxury jewelry demand is strengthening across necklaces, rings, earrings, bracelets, watches and other products. - Rings hold a significant share because of engagement rings, wedding jewelry and luxury fashion demand. - Necklaces and earrings remain major revenue contributors because consumers want statement pieces for formal and casual wear. - Luxury watches continue to attract high-net-worth buyers as both accessories and investment assets. - Gold remains the dominant material segment because of its cultural significance, investment value and timeless appeal. - Diamonds continue to draw strong demand for prestige and special occasions. - Sapphires, emeralds and rubies are gaining traction as shoppers look for more distinctive designs. - Lab-grown diamonds are creating new growth opportunities. - Women remain the largest consumer group. - Men’s luxury jewelry is growing as buyers adopt bracelets, rings, chains and watches more widely. - Unisex collections are also expanding alongside gender-neutral fashion. - Millennials and Gen Z are pushing brands to emphasize authenticity, sustainability and digital engagement. Between the lines: - Sustainability has become a commercial differentiator, not just a branding message. - Brands are leaning into responsible mining, recycled gold sourcing, lab-grown diamonds and transparent supply chains to build trust. - Digital tools such as virtual try-on, augmented reality shopping, blockchain authentication and AI-driven personalization are changing how luxury jewelry is sold. - The competitive field remains concentrated around LVMH, Richemont, Chanel, Tiffany & Co., Cartier, Bulgari, Harry Winston, Van Cleef & Arpels and Graff. - Those brands are using acquisitions, exclusive launches, sustainability programs and digital transformation to defend market share. - North America leads on spending power and luxury brand presence. - Europe remains strong because of heritage houses and jewelry craftsmanship in France, Switzerland, Italy and the U.K. - APAC is expected to grow fastest, helped by urbanization, rising middle-class incomes and stronger luxury demand in China, India, Japan and South Korea. - South America is emerging as a promising market, while the Middle East and Africa offer opportunities from affluent consumer bases. What’s next: - Luxury jewelry brands are expected to keep investing in ethical sourcing, innovation and personalized customer experiences. - Online distribution and social media-led marketing will likely become more important as younger consumers shape demand. - Market growth will depend on which brands can pair exclusivity with verifiable sustainability and modern digital shopping tools. - Related reports are available on imitation jewelry , gems and jewellery , bridal jewelry , gemstones and certified gemstones . - Market Research Future also lists its social channels on LinkedIn , Facebook and X . The bottom line: - Luxury jewelry is entering a growth phase powered by sustainability, personalization and digital commerce, with the fastest gains likely to come from brands that can prove authenticity and adapt to changing consumer values.