Men’s Jewelry Market Share, Size, Trends, Industry Analysis Report, By Product (Necklace, Ring, Earrings, Bracelet, Other Products); By Type; By Category; By Distribution Channel; By Age; By Region; Segment Forecast, 2024 - 2032
- Published Date:Apr-2024
- Pages: 118
- Format: PDF
- Report ID: PM4859
- Base Year: 2023
- Historical Data: 2019-2022
Report Outlook
Men’s Jewelry Market size was valued at USD 34,335.96 million in 2023. The market is anticipated to grow from USD 35,953.18 million in 2024 to USD 71,809.77 million by 2032, exhibiting the CAGR of 8.4% during the forecast period
Industry Trends
The men's jewelry market has undergone a significant transformation in recent years. Traditionally associated with wedding bands and cufflinks, it is now a booming market catering to a wider range of styles and preferences. The key trends attributed to the growth of the market include growing fashion awareness, versatility in design, and changing depiction of male masculinity in society. In addition, men are increasingly getting interested in fashion and accessories in order to elevate their look in public places such as offices, parties, and outdoor recreational activities, among others.
Additionally, fashion companies are offering a wide range of product choices for the men's segment, including bracelets, rings, necklaces, and chains. Rings such as wedding bands and signet rings engraved with gemstones are increasingly becoming popular among men. Leather bracelets, beaded bracelets, chain bracelets, and cuffs are also offering a variety of options depending on the desired design and occasion. In addition, chains, pendants with religious symbols or personal engravings, and layered necklaces are all gaining traction among men, which is further fueling the market growth for men's jewelry.
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For instance, Kalyan Jewellers, an Indian brand, launched a new line of men's jewelry, Senhor, on 19 November 2023. The Senhor collection is designed to meet the demand for men's jewelry to be worn with modern attire. In addition, December 2021, PMJ Jewels inaugurated its inaugural store in Kompally, North Hyderabad, marking the brand's ambitious venture into the region. With a strategic focus on expansion in Kompally, the store aims to showcase a varied collection of diamond, gold, and solitaire designs.
Furthermore, an increasing inclination towards cross-cultural complement is poised to elevate the growth trajectory of the jewelry market. Enhanced advertising investments and international initiatives will further facilitate widespread global distribution of a diverse array of men jewelry products over the anticipated timeframe. In addition, e-commerce is anticipated to have substantial influence in bolstering the industry's sales volumes during the forecasted period. Broadening of consumer awareness regarding the excellence of metals utilized in crafting upscale ornaments is forecasted to propel the global jewelry market forward. Further, e-commerce fraud and insufficient comprehension of hallmark criteria and ornament purity are anticipated to somewhat impede market expansion.
Key Takeaways
- Asia Pacific dominated the market and contributed over 53% market share of the men’s jewelry market size in 2023
- By product category, the ring segment dominated the global men’s jewelry market size in 2023
- By type category, the gold segment is projected to grow with a significant CAGR over the men’s jewelry market forecast period
What Are the Market Drivers Driving the Demand for Market?
Increasing Disposable Income is Driving the Demand for Men Jewelry Market
The increasing disposable income of individuals greatly influences the men's jewelry market. Moreover, disposable income has led to the influencing of the following factors, including expenditure on high-quality and luxury products, rise in investment potential, shifting of priorities, and increasing confidence and self-expression, among others. For men with higher disposable income, jewellery made with precious metals such as gold and platinum are attracting all segments of society, including the men category of jewelry products. In addition, investment in precious metals is considered one of the best and safest due to the rising prices of the precious metals.
Moreover, the rise in disposable income provides an opportunity for men to afford higher-quality jewelry pieces made with premium materials like diamonds, sapphires, or platinum. These materials can elevate the look and feel of the jewelry, making it a more significant and long-lasting purchase. Additionally, increased disposable income allows men to explore luxury brands that specialize in men's jewelry. These brands often offer unique designs, exceptional craftsmanship, and prestige associated with the brand name. Further, those with disposable income have more flexibility in their budgets to allocate funds towards non-essential items such as jewelry. Since, jewelry is also viewed as an emotional quotient to express personal style, commemorate special occasions, or indulge in a luxury purchase is promoting the market growth of men jewelry.
Which Factor is Restraining the Demand for Men’s Jewelry?
Fluctuating Raw Material Prices and Limited Product Availability in the Mainstream Stores Tends to Be Restraining the Market Growth
Jewelry is expensive in nature and constitutes expensive materials such as gold, silver, platinum, and diamonds, among others. During the past few years, it has been witnessed that the prices for aforementioned materials have increased due to their scarcity and accessibility. The fluctuating prices of raw materials lead to an increase in the cost of the final products, including men's jewelry. Upon which the men's jewelry leads to less affordable and accessible to a particular men segment of society. Thus, the high pricing of jewelry products becomes a restraining factor for an individual to opt for the jewelry.
Traditional jewelry stores are mainly focused on the women segment and have a limited variety of men's jewelry. These stores need to offer a dedicated section or a wide selection of men's jewelry compared to women's. In addition, pricing disparity can also be witnessed for precious metal jewelry that is more expensive and has limited affordability for budget-conscious consumers. Moreover, companies are target-oriented toward capturing the women's segment of jewelry, resulting in a lack of focus on the men's section based on their everyday attire. Some jewelry might not be designed for everyday wearability and comfort, thus discouraging men from wearing available jewelry on a regular basis. Therefore, lacking accessibility of products based on demand and requirements by men could be a challenging factor for the market to grow.
Report Segmentation
The market is primarily segmented based on product, type, category, distribution channel, age, and region.
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Category Wise Insights
By Product Insights
Based on product category analysis, the market has been segmented on the basis of necklace, ring, earrings, bracelet, and other products. In 2023, the ring segment has emerged as the dominant segment in the global market. Rings have played an important part in an individual, be it a woman and men. Traditionally, rings are worn as a symbol of marriage or engagement. However, modern fashion has changed, and men are increasingly opting for rings as a status symbol. In addition, rings worn by men reflect pride and confidence. Also, men wear rings for a casual appearance over pairs of jeans that reflect masculinity. Moreover, men wearing a ring symbolizes the following factors: commitment, type of expression, casual appearance, for the occasion, among others, is driving its demand in the men’s jewelry market.
For instance, The Tony Ring is specifically crafted by combining KOA wood and rose gold. These rings are mainly designed for special celebrations such as anniversaries, Father’s Day, birthdays, and milestones, among others. The personality of the wearer wearing The Tony Ring reflects high composure, which suits the appearance of a person who is calm, dedicated, and mindful. Brands such as Bluestone, Bynan Jewelry, among others are offering Tony Ring that can be gifted to an individual at different occasions.
By Type Insights
Based on type category analysis, the market has been segmented on the basis of silver, gold, platinum, diamond, titanium, steel, tungsten, forged carbon, and other types. The gold segment within the market is poised for significant growth over the forecast period. Gold is among the most widely used metals in the jewelry market and is preferred by most buyers. The key attributing factor promoting its market growth is its lustrous yellow appearance. Gold is mainly available in karate such as ten karate, 14 karate, 18 karate, and 22 karate, being employed for the manufacturing of varied designs of jewelry. In addition, a wide range of jewelry products, such as wedding rings, signet rings, necklaces, pendants, bracelets, and cufflinks, is being produced from metal. Also, its resistance to tarnishing allows it to be the most preferred material in the manufacturing of jewelry products.
Furthermore, gold infused with other alloys such as copper, silver, nickel, and palladium, among others, allows the jewellers to alter its composition and form other metals, such as white gold and rose gold, among others. Thus, owing to the wide range of options available with gold in terms of product offering is driving its demand in the men's jewelry market.
Regional Insights
Asia Pacific
In 2023, the Asia Pacific region emerged as the dominating region and is anticipated to continue its dominance with a significant CAGR over the forecast period. The market in the Asia Pacific region is fuelled by changing societal trends and evolving fashion industry. There has been a shift in attitudes towards men's accessories, including jewelry which has opened up a lucrative market for men's jewelry across the region, spanning countries like China, India, Japan, South Korea, and others.
The growth of the men's jewelry market in the Asia Pacific region is the result of changing perceptions of masculinity. The current trends of masculinity have become more accepting of men adorning themselves with accessories. This cultural shift has resulted in increased acceptance and demand for men's jewelry, ranging from bracelets and rings to necklaces and cufflinks. The rise of fashion-conscious consumers, particularly among younger demographics, has propelled the demand for men's jewelry in the Asia Pacific region. With the proliferation of social media and the influence of celebrities and influencers, men are increasingly paying attention to their appearance and accessorizing to express their style. This trend has not only boosted the sales of mainstream brands but has also paved the way for niche and artisanal jewelry makers to cater to the changing tastes of fashion-forward men.
Competitive Landscape
The men’s jewelry market is marked by the presence of several key players, including T&CO. (LVMH Moët Hennessy Louis Vuitton SE), TOM WOOD, Bulgari (LVMH Moët Hennessy Louis Vuitton SE), Completedworks, and more. These companies possess a large customer base and strong business presence across diverse regions, providing them with a competitive advantage in terms of market reach and penetration. The men’s jewelry market is characterized by intense competition, with players striving to gain market share through continual advancements in product designs, launches, and strategic collaborations.
Some of the major players operating in the global market include:
- Bernard James
- Buccellati (Compagnie Financière Richemont SA)
- Bulgari (LVMH Moët Hennessy Louis Vuitton SE)
- Cartier (Compagnie Financière Richemont SA)
- Chow Tai Fook Jewellery Company Limited
- Clocks + Colours
- Completedworks
- David Yurman
- Hatton Labs
- Jaxxon
- John Hardy
- le gramme
- LVMH Group
- Malabar Gold & Diamonds
- Miansai
- PANDORA JEWELRY LLC
- Shaun Leane
- Spinelli Kilcollin
- Swarovski
- T&CO. (LVMH Moët Hennessy Louis Vuitton SE)
- The Great Frog
- Titan Company
- TOM WOOD
Recent Developments
- In September 2023, Swarovski Created Diamonds launched the 'Galaxy' collection, an exquisite line inspired by cosmic phenomena and designed by Global Creative Director Giovanna Engelbert, launched collections in the US and Canada.
- In September 2023, Titan Company, a part of the Tata Group, intends to launch nine additional Tanishq jewelry stores in Gujarat, aiming to reach a total of 28 outlets in the state by the end of this fiscal year while also considering international expansion in the United States and Australia.
- In January 2024, Clocks + Colours collaborates with metalcore giants August Burns Red to design the Composure Pendant, crafted from sterling silver and featuring dimensions of 25mm by 17mm. The pendant comes suspended on a 60cm by 2mm gauge stainless steel curb chain.
Report Coverage
The men’s jewelry market report emphasizes on key regions across the globe to provide better understanding of the product to the users. Also, the report provides market insights into recent developments, trends and analyzes the technologies that are gaining traction around the globe. Furthermore, the report covers in-depth qualitative analysis pertaining to various paradigm shifts associated with the transformation of these solutions.
The report provides detailed analysis of the market while focusing on various key aspects such as competitive analysis, product, type, category, distribution channel, age, and their futuristic growth opportunities.
Men’s Jewelry Market Report Scope
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Report Attributes |
Details |
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Market size value in 2024 |
USD 35,953.18 million |
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Revenue forecast in 2032 |
USD 71,809.77 million |
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CAGR |
8.4% from 2024 – 2032 |
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Base year |
2023 |
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Historical data |
2019 – 2022 |
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Forecast period |
2024 – 2032 |
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Quantitative units |
Revenue in USD million and CAGR from 2024 to 2032 |
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Segments covered |
By Product, By Type, By Category, By Distribution Channel, By Age, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
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Customization |
Report customization as per your requirements with respect to countries, region, and segmentation. |
FAQ's
The Men’s Jewelry Market report covering key segments are product, type, category, distribution channel, age, and region.
Men’s Jewelry Market Size Worth USD 71,809.77 Million by 2032
Men’s Jewelry Market exhibiting the CAGR of 8.4% during the forecast period
Asia Pacific is leading the global market
key driving factors in Men’s Jewelry Market are rising popularity of gold jewelry for men
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