Pearl Jewelry Market - Global Outlook and Forecast 2020-2025

Industry Insights

The global pearl jewelry market size to reach USD 20 billion by 2025, growing at a CAGR of 13% during the forecast period. The stability in the global economic situation, resulting in the growth of disposable incomes, is driving the global pearl jewelry market. Moreover, the increasing female working population and the growing penetration of brands are contributing to the growth. The APAC region accounted for the largest share in 2019 and is expected to witness the fastest growth rate during the forecast period. The saltwater pearl segment is observing growth due to the high demand for luxurious and high-quality ornaments.

A large-scale shift to the e-commerce platform is another major factor boosting the growth of the global pearl jewelry market. Consumers are becoming extremely comfortable shopping online. Major sellers are capitalizing on business opportunities by offering innovative strategies, ranging from personalization to curation to home trial options to address the consumers’ concerns. The online fine jewelry sales accounted for approximately 4–5% of the global market and are projected to reach around 10% by 2020. The online segment, however, accounted for a larger share with approximately 10–15% share by 2020.

PEARL JEWELRY MARKET SEGMENTATION

This research report includes a detailed segmentation by

• Pearl types
• Material Types
• Jewelry Types
• Geography

INSIGHTS BY PRODUCT TYPES

The growing production cost and declining supply have increased the price of freshwater pearls. The demand is expected to grow due to the increasing popularity of inexpensive pearl jewelry, especially among youth and first-time buyers. Saltwater pearls are expensive; hence, they are preferred by high-end consumers with greater disposable income. APAC accounts for the largest share, with China, Japan, and India emerging as the leading regions. However, the increasing water pollution and overharvesting of saltwater ornaments have declined the production, which, in turn, is increasing the average price across the globe.

INSIGHTS BY MATERIAL TYPES

The global gold jewelry demand has observed a decline in the last couple of years. The decrease can be mainly attributed to several regional challenges and global economic trends. The rise in gold prices is expected to emerge as a major challenge as middle-class consumers are less likely to purchase gold ornaments. However, retailers are implementing several new strategies, including offering heavy discounts on making charges and providing easy installments to improve the sales of gold pearl ornaments.

Fluctuations in gold prices worldwide are driving several designers to opt for silver and other materials. High affordability of silver among consumers with low disposable incomes is driving the silver segment. The integration of silver jewelry with new fashion trends is expected to influence silver demand during the forecast period. Designers are coming up with trendy designs to enhance the appeal and increase the sale of silver ornaments. Moreover, silver ornaments with cultured pearls are inexpensive and are widely preferred by first-time buyers.

INSIGHTS BY JEWELRY TYPES

Gold pearl necklaces are more expensive than silver or other material types. However, the increasing acceptance of Tahitian pearl necklaces is expected to aid the growth of the segment during the forecast period. Saltwater necklaces accounted for the largest pearl jewelry market share in 2019; however, the segment is expected to decline during the forecast period owing to the growing price and the increasing availability of high-quality freshwater pearls.

Pearl rings have been popular standard ornaments for centuries. With the increasing availability of several contemporary ring designs, the popularity is growing in the young generation. Owing to the low price of freshwater rings, the demand is expected to grow during the forecast period. The highest incremental growth is expected to come from APAC due to improving economic development, increasing purchasing power, and the growing middle-class population in the region.

The diversity in design and quality with high-profit margins is expected to boost the demand for pearl earrings during the forecast period. Celebrities such as  Kate Middleton and Michelle Obama have been spotted to wear these earrings, which have become a strong factor for their popularity and adoption. Designers are introducing trendy designs to enhance product appeal. The high demand from China, Japan, and India is primarily contributing to the growth of the market.

INSIGHTS BY GEOGRAPHY

While the pearl jewelry market in developing economies is driven by the growth in the population, rise in household incomes, and change in lifestyles, developed economies are boosting the demand for luxury and fine designer ornaments. The region is expected to grow at the fastest CAGR during the forecast period. The rising economic development, the growing middle-class population, and high net worth individuals, especially in China and India, have increased the demand for fine pearl jewelry.

Europe is the second-largest market worldwide. The region is witnessing growth on account of increasing economic stability, the rising female working population, the increasing fashion consciousness, and the growing e-commerce retailing sectors.

The casualization of dress codes at workplaces and social spaces is driving the North American market. However, several factors increasingly influencing the growth include the rise in economic development, an increase in disposable incomes, and the rise in the number of the high net worth population.

The major factors that are contributing to the growth in MEA include the rise in per capita disposable income, growth of 3D printing, and aggressive promotional strategies by industry players. Further, the growing brand consciousness and the increasing inclination toward western brands are resulting in the emergence of stylish and exclusive designed ornaments, which is expected to boost demand for costume and luxury pearl ornaments in the region. Latin America constitutes a small percentage of the market. However, the region is expected to observe growth on account of the rise in the sale of fine jewelry, with Brazil emerging as the largest economy in the region.

KEY VENDOR ANALYSIS

The global pearl jewelry market is highly fragmented with the presence of a large number of global and regional players. Vendors are competing based on product designs, quality, and competitive pricing. Due to the highly competitive and volatile environment, future growth mainly depends on the ability to expect, gauge, and adapt to constantly changing fashion trends and successfully introduce new or improved products on time. Global retailers are increasingly trying to integrate with more than one part of the supply chain. Vertical integration will allow the company to establish a competitive advantage while considerably lowering the cost of manufacturing and making business models more efficient and cost-effective. The market is highly dynamic and fast-growing. With the rising consequential changes in both consumer behavior and the industry, vendors are required to be responsive to changing trends and developments.

The pearl jewelry market research report includes in-depth coverage of the industry analysis with revenue and forecast insights for the following segments:

Segmentation by Pearl Types

• Freshwater
• Saltwater

By Material Types

• Gold
• Silver
• Others

By Jewelry Types

• Necklace
• Earrings
• Rings
• Others

By Geography

• North America
• US
• Canada
• Europe
• Germany
• France
• UK
• APAC
• China
• Japan
• India
• Latin America
• Brazil
• Mexico
• MEA
• Saudi Arabia
• UAE