Europe Jewellery Market Size and Share Outlook - Forecast Trends and Growth Analysis Report (2025-2034)

The Europe jewellery market size reached around USD 51.36 Billion in 2024. The market is projected to grow at a CAGR of 4.40% between 2025 and 2034 to reach nearly USD 79.00 Billion by 2034.

Europe Jewellery Market Growth

Italy has emerged as a leading jewellery manufacturer of Europe. In 2023, it exported gold jewellery worth EUR 9.2 billion, which was a year-on-year growth of 4.2% in quantity and 12.1% in value. The industrial turnover also increased by 7.4%, which can be attributed to the 1.7% growth witnessed in the fashion industry. This performance is in line with Italy’s first competitor France, which recorded a growth of 13.6% in gold jewellery exports. These factors have favoured the Europe jewellery market development.

In 2023, Switzerland recorded a 34.2% growth in the volume and value of gold jewellery from Europe, amounting to EUR 1.3 billion. This was higher than the overall gold jewellery sales in the United States, which amounted to EUR 1.2 billion. By the end of 2024, gold prices are expected to trade at a range of USD 1900- USD 2,300, which can potentially drive the demand for jewellery in Europe.

The European jewellery industry is also witnessing major shifts in market trends. As per the Europe jewellery market analysis, an inclusive approach to self-expression has blurred the difference between female and male jewellery, with consumers exhibiting a greater preference for gender neutral jewellery. Moreover, the integration of wearable technology into jewellery design is enabling consumers to stay connected effortlessly while appearing aesthetic. Over the forecast period, smart jewellery pieces that track health metrics and automatically adjust colour settings based on wearer’s mood is expected to drive the market growth.

Key Trends and Developments

Rising demand for ethical and sustainable jewellery; growing demand for 3-D printed jewellery; and introduction of minimalist designs are expected to impact the Europe jewellery market growth favourably.

September 2024

A British researcher at the University of the West of England (UWE) developed the world’s first lab-grown ruby from its waste offcuts by placing it in a furnace for five hours and using a chemical agent. This has challenged the notion of artificial gemstones being synthetic and is expected to favourably impact the Europe jewellery market dynamics over the forecast period.

September 2024

The Italian National Institute of Statistics reported that a 59.2% increase in the volume of jewellery exports, which reached EUR 6.93 billion. The demand for Italian jewellery surged significantly in Turkey, which imported the largest quantity of jewellery during the first five months of 2024 from Italy.

July 2024

Alloyed, a UK-based experimental metals company launched Inoveo, a platinum-based alloy comprising of 95% pure platinum and a 5% proprietary mix of different metals. As the demand for catalytic converters declines, platinum jewellery making is expected to increase significantly, thereby driving the Europe jewellery market value.

July 2024

The soaring appeal for television shows such as House of the Dragon, Damsel, and True Blood in the United Kingdom has inspired the demand for personalised jewellery pieces among consumers. This has enhanced the market revenues for independent jewellery designers based in London.

Growing preference for ethical and sustainable jewellery

The increasing consumer awareness regarding the harmful effects of mercury pollution associated with the mining of precious metals is expected to create a demand for jewellery made from upcycled elements, responsibly sourced materials, and conflict-free gemstones. This is expected to drive the Europe jewellery market development.

Rising demand for 3-D printed jewellery

Rapid technological advancements have revolutionised jewellery production, with manufacturers designing unique necklaces and rings from featuring intricate shapes using 3D printers. This has boosted the efficiency of production and contributed to a reduction in material wastage.

Increasing inclination towards customised jewellery

The desire for wearing personalised jewellery has emerged as one of the key drivers of Europe jewellery market value. As an increasing number of consumers seek personalised jewellery pieces with modular designs and personalised engravings, the market is expected to witness sustained growth over the forecast period.

Introduction of minimalist designs

Simple jewellery pieces featuring clean lines and geometric shapes with a focus on intrinsic beauty are becoming extremely popular for daily wear among consumers. This marks a shift towards jewellery pieces with minimalist designs, which is creating a favourable Europe jewellery market outlook.

Europe Jewellery Market Trends

Inoveo is a unique alloy which is expected to increase the production and supply of platinum jewellery across Europe. It is 40% harder than pure platinum, offers 4x less porosity, resembles the melting point of gold (around 926 degrees Celsius), and has a long-lasting lustre. This makes it highly suitable for jewellery production. Unlike pure platinum-based jewellery, it doesn’t cause wearing of machining tools and enhances the speed of jewellery production considerably. It can be machined and polished at a 40% faster rate than traditional alloys. This is expected to increase the Europe jewellery market value over the forecast period.

Europe Jewellery Industry Segmentation

The EMR’s report titled “Europe Jewellery Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:

Market Breakup by Product:

• Necklace
• Ring
• Earring
• Bracelet
• Others

Market Breakup by Material:

• Platinum
• Gold
• Diamond
• Others

Market Breakup by Distribution Channel:

• Offline
• Online

Market Breakup by Country:

• Germany
• United Kingdom
• France
• Italy
• Others

Europe Jewellery Market Share

Based on country, the market is segmented into Germany, the United Kingdom, France, and Italy, among others. The United Kingdom is projected to dominate the market, representing 15% of the overall market share as the development of platinum-based jewellery increases. Over the forecast period of 2025-2034, Germany is expected to grow at a CAGR of 5.0% due to the increasing consumer preference for ethical and sustainable jewellery brands in the country.

Leading Companies in the Europe Jewellery Market

Major players are reintroducing vintage jewellery designs produced using conventional artisanal techniques. Their focus on producing handcrafted jewellery pieces, which celebrate nostalgia and brand image is also increasing the Europe jewellery market share.

LVMH Moet Hennessy Louis Vuitton SE

LVMH Moet Hennessy Louis Vuitton SE was founded in 1987 and is headquartered in Paris, France. It is the world’s leading luxury goods retailer which manufactures and sells fashion accessories, apparel, spirits and wines, cosmetics, perfumes, and jewellery.

Chanel SA

Chanel SA was founded in 1910 in Paris but is presently headquartered in London. As per the Europe jewellery market analysis, it is a globally renowned retailer of luxury products, including jewellery, watches, makeup, skincare, and fragrances, among other products.

Tiffany & Co

Tiffany & Co is an American jewellery producer established in 1837 and is based in New York, United States. It is engaged in manufacturing customised jewellery, business gifts, and unique trophies/awards. However, in 2021, it was acquired by LVMH.

Signet Jewelers Ltd.

Signet Jewelers Ltd. is an American company was founded in 1910 and is headquartered in Ohio, United States. It is one of the world’s most diamond jewellery retailers, with significant presence in Canada and the United States, apart from the United Kingdom.

Other players included in the Europe jewellery market report are Swarovski AG, Harry Winston, Inc., Compagnie Financière Richemont S.A., Pandora A/S, Graff Diamonds Limited, and Le petit-fils de L.U. Chopard & Cie SA, among others.