Pearl Jewelry Market Share Projections: CAGR of 12% Envisions Market Size of $34.16 Billion by 2033

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The global pearl jewelry market size is anticipated to grow from USD 11 billion to USD 34.16 billion in 10 years. The market will experience rapid growth due to the development of sustainable cultivation techniques during the forecast period.

Newark, April 18, 2024 (GLOBE NEWSWIRE) — The Brainy Insights estimates that the USD 11 billion in 2023 global pearl jewelry market will reach USD 34.16 billion in 2033. Mollusks such as oysters produce pearls. They are different sizes, shapes, and colours. They include unusual Tahitian black pearls as well as traditional white Akoya pearls. Pearl jewellery is made using both cultured and natural methods. Natural pearls are created when an irritant gets into the mollusk and starts a secretion that eventually results in the development of pearls. A nucleus is placed into the mollusk during the culture process to induce pearl development, which produces cultured pearls. Pearl jewellery is a representation of sophistication, elegance, and purity. They are frequently worn to important events like anniversaries and weddings. Furthermore, pearls are symbolic of riches, monarchy, and spirituality in many cultures across the globe. Pearl jewellery has inherent value and is robust and adaptable.

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Report Coverage Details

Report Coverage Details
Forecast Period 2024–2033
Base Year 2023
Market Size in 2023 USD 11 billion
Market Size in 2033 USD 34.16 billion
CAGR 12%
No. of Pages in Report 237
Segments Covered by Type, Material, Source, Distribution Channel, Regions
Drivers The increasing disposable income of the population
Opportunities Development of sustainable cultivation techniques

Key Insight of the Global Pearl Jewelry Market

Asia Pacific will dominate the market during the forecast period.

In nations like Japan, China, and India, pearls have significant cultural and historical value and symbolise wealth, femininity, purity, and social standing. Pearl jewellery is in high demand due to this cultural custom, especially for formal events and celebrations. The nations of the Asia-Pacific region, which include the Philippines, China, Japan, Australia, and Indonesia, are well-known for their pearl production. These areas produce premium pearls, such as Akoya, which support the region’s supremacy in the world market for pearl jewellery. Asia-Pacific region’s signatures include craftsmanship and mastery in pearl farming and jewellery design. The Asia-Pacific region’s economic expansion and growing prosperity have stimulated consumer expenditure on upscale products like pearl jewellery.

In 2023, the necklace segment dominated the market with the largest market share of 44% and revenue of 4.84 billion.

The type segment is divided into necklace, earrings, rings, and others. In 2023, the necklace segment dominated the market with the largest market share of 44% and revenue of 4.84 billion.

In 2023, the gold segment dominated the market with the largest share of 51% and revenue of 5.61 billion.

The material segment is divided into gold, silver and others. In 2023, the gold segment dominated the market with the largest share of 51% and revenue of 5.61 billion.

In 2023, the fresh water segment dominated the market with the largest market share of 73% and revenue of 8.03 billion.

The source segment is divided into fresh water and salt water. In 2023, the fresh water segment dominated the market with the largest market share of 73% and revenue of 8.03 billion.

In 2023, the offline channels segment dominated the market with the largest market share of 83% and revenue of 9.13 billion.

The distribution channel segment is divided into online channels and offline channels. In 2023, the offline channels segment dominated the market with the largest market share of 83% and revenue of 9.13 billion.

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Advancement in market

Kohinoor Jewellers showcased an exquisite collection of priceless jewels highlighting the inherent beauty of coloured gemstones, drawing on their ancient experience. The concept that colours have the power to exponentially increase the life of any given thing, moment, and emotion is reinforced by Kohinoor Jewellers’ Colour Riot. The symphonic symphony between coloured precious and semi-precious gemstones is also echoed in this collection when they are expertly designed.

Market Dynamics

Driver: the population’s rising disposable income.

Jewellery manufacturers can use visually stunning images and videos on social media sites like Pinterest and Instagram to highlight pearls’ beauty. This draws p, people in and piques their interest in these products, increasing visibility and the likelihood of customer conversion. Influencers that drive consumer demand and desire include celebrities and fashion bloggers who further promote pearl jewellery to their following. Influencers who incorporate pearls into their outfits and share images are laying the groundwork for pearl jewellery to become a sought-after accessory. Their admirers are motivated by these to wear similar looks in their regular clothes, which increases demand for pearl jewellery. The growing disposable income contributes to this trend by giving people more money to spend on luxuries and non-necessities. The market is expanding due to the rising demand for pearl jewellery, which is fueled by social media impact, celebrity endorsements, and fashion trends.

Restraints: Pearl jewelry is pricey.

Some varieties of pearls, such as natural pearls, are more expensive because they are highly sought-after for their distinctive beauty and historical significance. Furthermore, pearl quality greatly impacts price; characteristics including size, shape, colour, lustre, surface quality, and origin determine how much a pearl is worth altogether. In addition, the labour-intensive process of pearl production drives the price of pearl jewellery because pearls need to be cultivated with extreme care, knowledge, and patience. Pearl jewellery must be maintained and cared for to retain its longevity and beauty. Cleaning with a gentle, moist cloth or a moderate soap and water solution to remove residues and debris is as important as proper storage. The cost of owning pearl jewellery may increase as a result of these advised maintenance procedures. They require work and take a lot of time. As a result, the price of pearl jewellery will limit the market’s expansion.

Opportunities: the creation of environmentally friendly farming methods.

The development of pearl jewellery will be aided by innovations in sustainable pearl growing methods, colour treatments, customisation possibilities, and substitute materials. The rise in fashionable jewellery will eventually boost interest in and demand for pearls. By addressing consumer concerns about ethical sourcing and environmental conservation, sustainable cultivation techniques elevate pearl jewellery to a more socially conscious product. A wider range of pearl colours and variations are available due to the advancements in colour treatments, which appeal to customers looking for one-of-a-kind and customised jewellery. Customers can develop designs exclusive to their taste and style with customisation choices that further accommodate individual preferences. Alternative materials are used in pearl jewellery designs to give classic items a modern spin that appeals to consumers seeking cutting-edge and fashionable accessories. These developments are projected to support the market’s expansion in the foreseeable future.

Challenges: Environmental and ethical considerations regarding pearl sourcing.

Environmental concerns related to pearl farming include habitat destruction, water pollution, and disruption of marine ecosystems. Activities like dredging and clearing coastal areas for cultivation can destroy habitats, impacting biodiversity. Agriculture, industry, and urban development runoff can introduce pollutants and chemicals into waterways, harming marine life and affecting pearl quality. Pearl farming operations may also disrupt natural marine ecosystems by altering habitats or introducing non-native species. Therefore, the environmental and ethical considerations of pearl sourcing will challenge the market’s growth.

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Some of the major players operating in the global pearl jewelry market are:

• Akuna Pearls
• Aquarian Pearls
• CPI Luxury Group Assael
• Isle of Wight Pearl
• K. Mikimoto & Co., Ltd.
• Pearl Jewelry Ito, Inc.
• Pearl Paradise
• Pearls of Australia
• TASAKI & Co., Ltd.
• Wing Wo Hing Jewelry Group

Key Segments covered in the market:

By Type

• Necklace
• Earrings
• Rings
• Others

By Material

• Gold
• Silver
• Others

By Source

• Fresh Water
• Salt Water

By Distribution Channel

• Offline Channels
• Online Channels

By Region

• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the UK, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

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About the report:

The market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter’s five forces model, attractiveness analysis, Product analysis, supply and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.

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