Jewelry market in India to grow by USD 21.54 between 2022 and 2027; Growth driven by cultural significance of jewelry - Technavio

NEW YORK, May 2, 2023 /PRNewswire/ -- The jewelry market in India is set to grow by USD 21.54 billion between 2022 and 2027 and register a CAGR of 5.54%, according to Technavio's latest market research report estimates. With a focus on identifying dominant industry influencers, Technavio's reports present a detailed study by way of synthesis, and summation of data from multiple sources. This report offers an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment. View Sample Report

Factors such as the cultural significance of jewelry, rising disposable income, and technological advancements will offer immense growth opportunities. To leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments, while maintaining their positions in the slow-growing segments. The jewelry market in India is fragmented, and the degree of fragmentation will accelerate during the forecast period.

Jewelry Market in India 2023-2027: Segmentation

• Type 
• Gold
• Diamond
• Others
• Distribution Channel 
• Specialist Retailers
• Online

The market growth in the gold segment will be significant during the forecast period. The rising income levels of consumers have increased the demand for gold jewelry in India. Despite the development of alternative materials and designs, gold jewelry is still worn on special occasions and is a preferred investment option in India. As a result of these factors, the segment will witness maximum growth over the forecast period.

The report comprises of various segments as well as analysis of the trends and factors that are playing a substantial role in the market, download a sample report

Jewelry Market in India 2023-2027: Vendor Analysis and Scope

The jewelry market in India is fragmented. The market comprises several international and regional vendors that have a wide geographical reach, market penetration, end-user segments, and product segments. International players are consistently focused on expanding their footprint in the market. Thus, regional players are finding it increasingly difficult to compete with larger players based on quality, pricing, market reach, and financial resources. The competitive environment in this market will intensify further with an increase in product/service extensions and product innovations. Some of the key vendors covered in the report include:

• ALANKEET CREATIONS LLP - The company offers jewelry such as necklaces, earrings, and rings.
• Bhima And Bullion Pvt. Ltd. - The company offers jewelry such as gold, diamond, and silver.
• Derewala Industries Ltd. - The company offers jewelry such as gold and silver.
• Hari Krishna Exports Pvt. Ltd. - The company offers jewelry under the brand Kisna real diamond and gold jewels.
• Dwarka Jewel
• DWS Jewellery Pvt. Ltd.
• Gurukrupa Gems
• Joyalukkas India Ltd.
• Kalyan Jewellers India Ltd.
• Kanhai Jewels
• Malabar Gold and Diamonds
• Nsb Jewellery
• PC Jeweller Ltd.
• Rajesh Exports Ltd.
• Titan Co. Ltd.

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The report also covers the following areas:

• Jewelry Market Size in India
• Jewelry Market Trends in India
• Jewelry Market Analysis in India 

Jewelry Market in India 2023-2027: Key Highlights

• Driver – The market is driven by the cultural significance of jewelry. India is the second largest importer of gold globally. Jewelry made of gold is considered a symbol of prosperity and wealth in India. This has increased its cultural significance, especially during events and celebrations such as marriages, festivals, and various other auspicious occasions. The Indian wedding industry is worth USD 50 billion, with jewelry making up an important percentage of this total value. In addition, festivals such as Diwali, Dussehra, and Akshaya Tritiya are regarded as auspicious occasions to buy gold, which leads to a surge in demand as well as the prices of gold during such events. Many such factors are leading to a continuous demand for jewelry in India, thereby driving market growth.
• Trend – The rise in online sales is identified as the key trend in the market. Factors such as convenience and the ability to choose from a wide selection of merchandise have increased consumer inclination toward online shopping. This has encouraged vendors operating in the market to take their business online and drive more sales. In addition, the competitive pricing provided on jewelry on e-commerce platforms enable customers to compare prices and make wise decisions. This is leading to increased sales of jewelry online in the market. For instance, Tanishq, one of the leading jewelry brands in India, reported a 106% increase in online sales in 2020. The online channel represented 13% of the overall sales of the company in 2020. This trend is expected to positively influence the market growth over the forecast period.
• Challenge – The high price of gold is challenging the growth of the market. Gold is an important component of Indian Jewelry. However, the sales of gold jewelry are declining as a result of the difficulty faced by jewelers in maintaining competitive pricing caused by continuous fluctuations in prices. In addition, the high cost of gold has changed the buying habits of customers. They are increasing their preference for lightweight and more reasonably priced jewelry, which is affecting the sales of conventional gold jewelry. Such challenges reduce the growth potential of the market during the forecast period.

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Jewelry Market in India 2023-2027: Key Highlights

• CAGR of the market during the forecast period 2023-2027
• Detailed information on factors that will assist jewelry market growth in India during the next five years
• Estimation of the jewelry market size in India and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the jewelry market in India
• Analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of jewelry market vendors in India

Related Reports:

The India costume jewelry market is estimated to grow at a CAGR of 8.64% between 2022 and 2027. The market size is forecast to increase by USD 639.32 million. The market is segmented by product (necklaces and chains, earrings, rings, bracelets, and others), and distribution channel (offline and online).

The online jewelry market size is estimated to grow at a CAGR of 15.55% between 2022 and 2027. The size of the market is forecast to increase by USD 36.23 billion. The market is segmented by type (fine jewelry and fashion jewelry), product type (rings, earrings, necklaces, bangles, and others), and geography (North America, Europe, APAC, Middle East and Africa, and South America).

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Table of contents:

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Country Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Distribution Channel
• Exhibit 06: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 07: Parent market
• Exhibit 08: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 09: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 10: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 11: Chart on India - Market size and forecast 2022-2027 ($ billion)
• Exhibit 12: Data Table on India - Market size and forecast 2022-2027 ($ billion)
• Exhibit 13: Chart on India: Year-over-year growth 2022-2027 (%)
• Exhibit 14: Data Table on India: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Jewelry market in India 2017 - 2021 
• Exhibit 15: Historic Market Size – Data Table on Jewelry market in India 2017 - 2021 ($ billion)

• 4.2 Type Segment Analysis 2017 - 2021 
• Exhibit 16: Historic Market Size – Type Segment 2017 - 2021 ($ billion)

• 4.3 Distribution Channel Segment Analysis 2017 - 2021 
• Exhibit 17: Historic Market Size – Distribution Channel Segment 2017 - 2021 ($ billion)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 18: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 19: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 20: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 21: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 22: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 23: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 24: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Type

• 6.1 Market segments
• Exhibit 25: Chart on Type - Market share 2022-2027 (%)
• Exhibit 26: Data Table on Type - Market share 2022-2027 (%)

• 6.2 Comparison by Type
• Exhibit 27: Chart on Comparison by Type
• Exhibit 28: Data Table on Comparison by Type

• 6.3 Gold - Market size and forecast 2022-2027 
• Exhibit 29: Chart on Gold - Market size and forecast 2022-2027 ($ billion)
• Exhibit 30: Data Table on Gold - Market size and forecast 2022-2027 ($ billion)
• Exhibit 31: Chart on Gold - Year-over-year growth 2022-2027 (%)
• Exhibit 32: Data Table on Gold - Year-over-year growth 2022-2027 (%)

• 6.4 Diamond - Market size and forecast 2022-2027 
• Exhibit 33: Chart on Diamond - Market size and forecast 2022-2027 ($ billion)
• Exhibit 34: Data Table on Diamond - Market size and forecast 2022-2027 ($ billion)
• Exhibit 35: Chart on Diamond - Year-over-year growth 2022-2027 (%)
• Exhibit 36: Data Table on Diamond - Year-over-year growth 2022-2027 (%)

• 6.5 Others - Market size and forecast 2022-2027 
• Exhibit 37: Chart on Others - Market size and forecast 2022-2027 ($ billion)
• Exhibit 38: Data Table on Others - Market size and forecast 2022-2027 ($ billion)
• Exhibit 39: Chart on Others - Year-over-year growth 2022-2027 (%)
• Exhibit 40: Data Table on Others - Year-over-year growth 2022-2027 (%)

• 6.6 Market opportunity by Type 
• Exhibit 41: Market opportunity by Type ($ billion)
• Exhibit 42: Data Table on Market opportunity by Type ($ billion)

7 Market Segmentation by Distribution Channel

• 7.1 Market segments
• Exhibit 43: Chart on Distribution Channel - Market share 2022-2027 (%)
• Exhibit 44: Data Table on Distribution Channel - Market share 2022-2027 (%)

• 7.2 Comparison by Distribution Channel 
• Exhibit 45: Chart on Comparison by Distribution Channel
• Exhibit 46: Data Table on Comparison by Distribution Channel

• 7.3 Specialist retailers - Market size and forecast 2022-2027 
• Exhibit 47: Chart on Specialist retailers - Market size and forecast 2022-2027 ($ billion)
• Exhibit 48: Data Table on Specialist retailers - Market size and forecast 2022-2027 ($ billion)
• Exhibit 49: Chart on Specialist retailers - Year-over-year growth 2022-2027 (%)
• Exhibit 50: Data Table on Specialist retailers - Year-over-year growth 2022-2027 (%)

• 7.4 Online - Market size and forecast 2022-2027 
• Exhibit 51: Chart on Online - Market size and forecast 2022-2027 ($ billion)
• Exhibit 52: Data Table on Online - Market size and forecast 2022-2027 ($ billion)
• Exhibit 53: Chart on Online - Year-over-year growth 2022-2027 (%)
• Exhibit 54: Data Table on Online - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Distribution Channel 
• Exhibit 55: Market opportunity by Distribution Channel ($ billion)
• Exhibit 56: Data Table on Market opportunity by Distribution Channel ($ billion)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 57: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Drivers, Challenges, and Trends

• 9.1 Market drivers

• 9.2 Market challenges

• 9.3 Impact of drivers and challenges 
• Exhibit 58: Impact of drivers and challenges in 2022 and 2027

• 9.4 Market trends

10 Vendor Landscape

• 10.1 Overview

• 10.2 Vendor landscape
• Exhibit 59: Overview on Criticality of inputs and Factors of differentiation

• 10.3 Landscape disruption
• Exhibit 60: Overview on factors of disruption

• 10.4 Industry risks
• Exhibit 61: Impact of key risks on business

11 Vendor Analysis

• 11.1 Vendors covered
• Exhibit 62: Vendors covered

• 11.2 Market positioning of vendors 
• Exhibit 63: Matrix on vendor position and classification

• 11.3 ALANKEET CREATIONS LLP 
• Exhibit 64: ALANKEET CREATIONS LLP - Overview
• Exhibit 65: ALANKEET CREATIONS LLP - Product / Service
• Exhibit 66: ALANKEET CREATIONS LLP - Key offerings

• 11.4 Bhima And Bullion Pvt. Ltd. 
• Exhibit 67: Bhima And Bullion Pvt. Ltd. - Overview
• Exhibit 68: Bhima And Bullion Pvt. Ltd. - Product / Service
• Exhibit 69: Bhima And Bullion Pvt. Ltd. - Key offerings

• 11.5 Derewala Industries Ltd. 
• Exhibit 70: Derewala Industries Ltd. - Overview
• Exhibit 71: Derewala Industries Ltd. - Product / Service
• Exhibit 72: Derewala Industries Ltd. - Key offerings

• 11.6 Essentials Jewelry
• Exhibit 73: Essentials Jewelry - Overview
• Exhibit 74: Essentials Jewelry - Product / Service
• Exhibit 75: Essentials Jewelry - Key offerings

• 11.7 Gurukrupa Gems
• Exhibit 76: Gurukrupa Gems - Overview
• Exhibit 77: Gurukrupa Gems - Product / Service
• Exhibit 78: Gurukrupa Gems - Key offerings

• 11.8 Hari Krishna Exports Pvt. Ltd. 
• Exhibit 79: Hari Krishna Exports Pvt. Ltd. - Overview
• Exhibit 80: Hari Krishna Exports Pvt. Ltd. - Product / Service
• Exhibit 81: Hari Krishna Exports Pvt. Ltd. - Key offerings

• 11.9 Joyalukkas India Ltd. 
• Exhibit 82: Joyalukkas India Ltd. - Overview
• Exhibit 83: Joyalukkas India Ltd. - Product / Service
• Exhibit 84: Joyalukkas India Ltd. - Key offerings

• 11.10 Kalyan Jewellers India Ltd. 
• Exhibit 85: Kalyan Jewellers India Ltd. - Overview
• Exhibit 86: Kalyan Jewellers India Ltd. - Product / Service
• Exhibit 87: Kalyan Jewellers India Ltd. - Key offerings

• 11.11 Malabar Gold and Diamonds 
• Exhibit 88: Malabar Gold and Diamonds - Overview
• Exhibit 89: Malabar Gold and Diamonds - Product / Service
• Exhibit 90: Malabar Gold and Diamonds - Key offerings

• 11.12 PC Jeweller Ltd.
• Exhibit 91: PC Jeweller Ltd. - Overview
• Exhibit 92: PC Jeweller Ltd. - Business segments
• Exhibit 93: PC Jeweller Ltd. - Key offerings
• Exhibit 94: PC Jeweller Ltd. - Segment focus

• 11.13 Rajesh Exports Ltd.
• Exhibit 95: Rajesh Exports Ltd. - Overview
• Exhibit 96: Rajesh Exports Ltd. - Product / Service
• Exhibit 97: Rajesh Exports Ltd. - Key offerings

• 11.14 Titan Co. Ltd.
• Exhibit 98: Titan Co. Ltd. - Overview
• Exhibit 99: Titan Co. Ltd. - Business segments
• Exhibit 100: Titan Co. Ltd. - Key offerings
• Exhibit 101: Titan Co. Ltd. - Segment focus

• 11.15 Tribhovandas Bhimji Zaveri Ltd. 
• Exhibit 102: Tribhovandas Bhimji Zaveri Ltd. - Overview
• Exhibit 103: Tribhovandas Bhimji Zaveri Ltd. - Product / Service
• Exhibit 104: Tribhovandas Bhimji Zaveri Ltd. - Key offerings

• 11.16 Vaibhav Ltd.
• Exhibit 105: Vaibhav Ltd. - Overview
• Exhibit 106: Vaibhav Ltd. - Product / Service
• Exhibit 107: Vaibhav Ltd. - Key offerings

• 11.17 Vivah Creation
• Exhibit 108: Vivah Creation - Overview
• Exhibit 109: Vivah Creation - Product / Service
• Exhibit 110: Vivah Creation - Key offerings

12 Appendix

• 12.1 Scope of the report

• 12.2 Inclusions and exclusions checklist 
• Exhibit 111: Inclusions checklist
• Exhibit 112: Exclusions checklist

• 12.3 Currency conversion rates for US$ 
• Exhibit 113: Currency conversion rates for US$

• 12.4 Research methodology
• Exhibit 114: Research methodology
• Exhibit 115: Validation techniques employed for market sizing
• Exhibit 116: Information sources

• 12.5 List of abbreviations 
• Exhibit 117: List of abbreviations

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