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

NEW YORK, Aug. 15, 2023 /PRNewswire/ -- The latest report on the jewelry market in India, 2022-2027 estimates to register an incremental growth of USD 21.54 billion at a CAGR of 5.54% during the forecast period. The market is fragmented due to the presence of diversified international and regional vendors. 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 the country, which increases its cultural significance, especially during events and celebrations such as marriages, festivals, and various other auspicious occasions. For instance, the Indian wedding industry is worth USD 50 billion, with jewelry making up an important percentage of this total value. Many such factors are leading to a continuous demand for jewelry in India, thereby driving market growth. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. Request sample report 

Jewelry Market in India 2023-2027: Scope

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The jewelry market in India report covers the following areas:

• Jewelry Market in India 2023-2027 Size
• Jewelry Market in India 2023-2027 Trends
• Jewelry Market in India 2023-2027 Industry Analysis

Jewelry Market In India 2023-2027: Company Analysis

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Competitors have to focus on differentiating their product offerings with unique value propositions to strengthen their foothold in the market. Market vendors also have to leverage the existing growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. ALANKEET CREATIONS LLP, Bhima And Bullion Pvt. Ltd., Derewala Industries Ltd., Dwarka Jewel, DWS Jewellery Pvt. Ltd., Essentials Jewelry, GurUKrupa Gems, Hari Krishna Exports Pvt. Ltd., JoyalUKkas India Ltd., Kalyan Jewellers India Ltd., Kanhai Jewels, Malabar Gold and Diamonds, Nsb Jewellery, PC Jeweller Ltd., Rajesh Exports Ltd., Titan Co. Ltd., Tribhovandas Bhimji Zaveri Ltd., Vaibhav Global Ltd., Vivah Creation, and Padmavati Jewellery are among some of the major market participants.

Company Offerings

• 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.

What`s New for 2023?

• Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession
• Global competitiveness and key competitor positions
• Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial
• Customization options available as per your business needs
• Access to 17000+ research report subscriptions - Buy Now!

Jewelry Market in India 2023-2027: Market Dynamics

Leading 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 encourages 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. Hence, such a trend is expected to positively influence market growth over the forecast period.

Major 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 declined as a result of the difficulty faced by jewelers in maintaining competitive pricing caused by continuous fluctuations in prices. Additionally, the high cost of gold changes the buying habits of customers.

They increase their preference for lightweight and more reasonably priced jewelry, which is affecting the sales of conventional gold jewelry. Hence, such challenges reduce the growth potential of the market during the forecast period.

For more details understanding of Market Dynamics download Sample reports

Jewelry Market in India 2023-2027: Segmentation

Jewelry Market in India is segmented as below:

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

The gold segment will be significant during the forecast period. The rising income levels of consumers lead to an increased 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 the country. Resultantly, the segment will witness maximum growth over the forecast period.

For insights on global, regional, and country-level parameters with growth opportunities, historic market data (2017 to 2021) & forecast market size (2023-2027) – Download a Sample Report

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 the jewelry market in India's growth during the next five years
• Estimation of the jewelry market in India size 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 the jewelry market in India, vendors

Gain instant access to 17,000+ market research reports.
Technavio's SUBSCRIPTION platform

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 affordable pricing of costume jewelry is notably driving the market growth. 

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). Innovation in jewelry design and technology are notably driving the market growth.

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 (USD billion)
• Exhibit 12: Data Table on India - Market size and forecast 2022-2027 (USD 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 (USD billion)

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

• 4.3 Distribution Channel Segment Analysis 2017 - 2021 
• Exhibit 17: Historic Market Size – Distribution Channel Segment 2017 - 2021 (USD 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 (USD billion)
• Exhibit 30: Data Table on Gold - Market size and forecast 2022-2027 (USD 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 (USD billion)
• Exhibit 34: Data Table on Diamond - Market size and forecast 2022-2027 (USD 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 (USD billion)
• Exhibit 38: Data Table on Others - Market size and forecast 2022-2027 (USD 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 (USD billion)
• Exhibit 42: Data Table on Market opportunity by Type (USD 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 (USD billion)
• Exhibit 48: Data Table on Specialist retailers - Market size and forecast 2022-2027 (USD 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 (USD billion)
• Exhibit 52: Data Table on Online - Market size and forecast 2022-2027 (USD 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 (USD billion)
• Exhibit 56: Data Table on Market opportunity by Distribution Channel (USD 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 Global Ltd.
• Exhibit 105: Vaibhav Global Ltd. - Overview
• Exhibit 106: Vaibhav Global Ltd. - Product / Service
• Exhibit 107: Vaibhav Global 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 USUSD 
• Exhibit 113: Currency conversion rates for USUSD

• 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

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide 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 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.

Contact

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com

SOURCE Technavio

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED