Pole position for jewelry which together with the watches asset could record by the end of 2025 the incredible figure of 502,00 billion dollars, with an annual growth rate of 4,65%, according to the compound annual growth rate (CAGR “Compounded Average Growth Rate”) from 2025 to 2029.
But the interesting thing is that it is expected that around 67% of sales in the jewelry and watches market will be attributed to not exactly a luxury sector. In recent years, demand for watches and fine jewelry in countries like Switzerland and Italy has skyrocketed due to their rich history and reputation for craftsmanship but it is also demand for precious metals with costs accessible to all has increased, perhaps a charm or a simple yet recognizable piece of jewelry from a chain of carefully distributed outlets across cities. The figures are based on consumer spending on accessories that include watches and jewelry for private end customers for both offline retail and online retail. The major players in the market are leaders in their respective segments and are known for their innovative products, brand reputation and extensive distribution networks.
How is the Watches and Jewelry market divided?
The watch market includes different types of devices used to indicate or measure time, worn on the wrist or in a pocket. Both analog and digital watches are included. This market also includes those considered vintage or antique or even "second wrist" which could also be modern but placed on the market as a second round by dealers who purchased them from the parent companies or from private individuals.
The jewelry market includes rings, necklaces, earrings, bracelets, pins and other decorative objects worn as personal adornment. Then it is distinguished by high jewelry, perhaps from important Maisons, or simpler jewelry that at the moment seems to drive the market with small creations that are not exclusive and not even numbered as unique pieces.
The new trends of “not too expensive” jewelry
Lab-Grown Diamonds which are becoming an increasingly popular alternative to traditionally mined diamonds. These stones are made in a controlled environment, chemically and physically identical to natural diamonds. However, they do not have the environmental and ethical issues associated with mining. As more and more people desire ethically sourced products, lab-grown diamonds will likely play a larger role in the future of the market.
Minimalist and customizable designs: Simplicity and customization are two significant forces shaping modern jewelry design. Consumers are increasingly seeking simple, customizable jewelry that reflects their unique tastes and identities, as well as a price that fits their means.
Ethical and sustainable choicesi: A focus on sustainability and ethical sourcing is no longer a niche concern but a mainstream expectation. Companies that focus on sustainability in the jewelry industry are gaining customer trust and loyalty. They use recycled materialsi, responsibly sourced gemstones and fair labor practices. This trend is expected to increase as more and more consumers align with more ethical choices. This segment includes handcrafted and ethnic jewelry as suggested by the catwalks. And if Coco Chanel had already proposed the wrist jewel (cuff) or Tiffany & Co (Bone Cuff), a connection absolutely from traditional and ancestral meanings, this jewel is back in fashion, available in an infinite number of shapes and colours with strong ethnic references.
Even vintage jewelry contributes to sustainability
Vintage jewelry inherently embodies sustainability, as it promotes the reuse and repurposing of existing pieces rather than creating new ones. By investing in vintage jewelry, people contribute to a more circular economy and reduce their environmental impact. In 2024, we’ve seen a revival of this nostalgic trend, as more and more people embrace the allure of vintage pieces. Vintage jewelry refers to pieces that are at least 20 years old, but less than 100 years old. As time passes, the value of vintage jewelry tends to increase, especially if it is well-preserved and in good condition. Collectors and enthusiasts often seek out rare and unique pieces, driving up the demand and prices of vintage jewelry. It is a market that continues to thrive and attract both experienced collectors and newcomers.
Boom in new start-ups by young “jewelry designers”
The production of Made in Italy is changing and alongside the well-known production districts: Valenza, Vicenza, Arezzo and some others, we are witnessing the explosion of digital manufacturing with designer start-ups and small self-production workshops in every corner of Italy and with more accessible and less standardized prices for the public than the "mass customization “. The key to the future will therefore be to combine tradition, innovation and sustainability to meet the needs of modern consumers.
