Market Overview
According to Fortune Business Insights, the Global Necklace Market was valued at USD 50.03 billion in 2024 and is projected to grow from USD 52.32 billion in 2025 to USD 75.85 billion by 2032, exhibiting a CAGR of 5.45% during the forecast period.
The market is driven by evolving fashion trends, rising disposable incomes, growing demand for personalized jewelry, and the expanding influence of e-commerce platforms. In 2024, Asia Pacific led the global market with a substantial 40.9% share, fueled by a deep-rooted cultural affinity for jewelry and the rapid growth of the middle-class population, especially in China and India.
Competitive Landscape
The global necklace market is competitive, with a mix of established luxury brands and emerging designers. Major players include:
These companies are focusing on:
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Moreover, the increasing participation of women in the workforce and higher disposable incomes are boosting demand for modern jewelry. For instance, India’s female labor force participation rate grew to 37% in 2022–23, up from 30% in 2019–20, highlighting a rapidly expanding customer base with significant purchasing power.
Brands such as Kendra Scott have successfully leveraged influencer partnerships to promote collections, underscoring the pivotal role of social media in shaping consumer preferences and accelerating online jewelry sales.
Market Restraints
Fluctuating Raw Material Prices
The necklace market faces challenges from the volatile prices of precious metals and gemstones, including gold, platinum, and diamonds. Such fluctuations increase manufacturing costs, which can elevate the retail prices of necklaces, thereby affecting consumer affordability and reducing demand. As these materials are core to jewelry production, sustained price volatility could pose a significant barrier to market growth.
Market Opportunities
Rise of Sustainable and Ethical Jewelry
A key trend shaping the necklace market is the rising demand for sustainable and ethically sourced jewelry. Environmentally conscious consumers are increasingly opting for pieces crafted from recycled metals, lab-grown diamonds, and conflict-free gemstones. As a result, supply chain transparency and responsible production practices are emerging as critical differentiators for brands targeting eco-aware buyers. In addition, the expansion of luxury tourism is fueling new opportunities, as travelers frequently purchase jewelry that showcases local craftsmanship and cultural heritage, particularly in high-end travel destinations.
Market Trends
The market is witnessing an increased emphasis on:
Segmentation Analysis
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Key Developments
The global necklace market is set to witness robust growth through 2032, driven by personalization trends, sustainability, social media influence, and rising purchasing power, especially in emerging economies. However, price fluctuations of raw materials remain a key challenge. Brands that focus on innovation, sustainability, and customer-centric designs are well-positioned to capitalize on the market’s evolving landscape.