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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Market Drivers
Consumers, particularly millennials and Gen Z, are increasingly favoring personalized and customized necklaces that reflect their personal style, individuality, and values. Options such as engraved names, birthstones, and zodiac signs are highly sought after. Advancements in 3D printing, AI-driven design tools, and online customization platforms have made bespoke jewelry more accessible and affordable.
Additionally, rising participation of women in the workforce and enhanced spending power are contributing to higher demand for modern jewelry. For example, India’s female labor force participation rate increased to 37% in 2022-23, up from 30% in 2019-20, suggesting a growing customer base with disposable income to spend on jewelry.
E-commerce platforms and social media are transforming the way consumers purchase necklaces. Platforms like Instagram, TikTok, and Pinterest have become critical marketing channels where brands leverage influencer collaborations, live shopping events, and targeted ads to boost engagement and sales.
Brands such as Kendra Scott have successfully partnered with influencers to promote collections, demonstrating the power of social media in shaping consumer preferences and driving 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.