Dublin, March 12, 2025 (GLOBE NEWSWIRE) — The “India Gems and Jewelry Market, By Region, Competition, Forecast & Opportunities, 2020-2030F” report has been added to ResearchAndMarkets.com’s offering.
The India Gems and Jewelry Market has demonstrated a strong growth trajectory, with projections estimating a significant rise in market value to USD 168.62 Billion by 2030.
The market is flourishing at an impressive compound annual growth rate (CAGR) of 8.93%, catalyzed by an increase in disposable income among consumers and a deep-seated cultural significance that elevates the role of jewelry in social and economic spheres. India stands tall as one of the largest consumers and exporters in this elegant market space, showcasing extraordinary capabilities in gold refining, diamond cutting, and the creation of intricately handcrafted jewelry pieces.
Cultural Influence and Market Drivers
India’s Gems and Jewelry Market benefits immensely from the country’s cultural heritage, where jewelry pieces are not only accessories but also hold profound social and religious value. The industry sees substantial demand stemming from the wedding sector, which accounts for approximately half of the total market consumption, underscored by the traditional investments in bridal sets and various gold ornaments during festive seasons. The array of festivals like Diwali and Akshaya Tritiya further propels the market forward, as these occasions often associate gold purchases with prosperity and auspiciousness.
Challenges Ahead
The market faces challenges, predominantly due to volatility in gold prices and the costs of other raw materials such as diamonds and platinum. The dependability on imports for these precious materials makes the market sensitive to global economic fluctuations and geopolitical events, which can lead to adjustments in consumer purchasing behavior. Governmental regulations and the associated rise in import duties also present hurdles for the market, affecting the competitiveness and profitability of key players within the sector.
Emerging Trends and Preferences
A notable shift has been observed with an uptick in consumer preference for lightweight and daily-wear jewelry, especially among the younger demographic and the steadily growing base of working professionals. This inclination towards more pragmatic and modern designs is reflected in the rising popularity of 14K and 18K gold pieces, and an evolving jewelry market that accommodates both aesthetic desire and functional needs. Such trends reveal a dynamic market that continues to adapt swiftly to changing tastes and global influences.
Outlook and Future Prospects
The India Gems and Jewelry Market is characterized by the presence of strong players who have established a significant brand identity and hold extensive influence over market dynamics. As the market continues to expand, these key stakeholders are instrumental in shaping the future landscape of the industry, contributing to its growth and evolving consumer preferences. The market’s outlook remains positive, as it continues to integrate and respond to global fashion sensibilities, demographic shifts, and economic signals, reinforcing its position as a central player on the world stage of gems and jewelry.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 80 |
| Forecast Period | 2024 – 2030 |
| Estimated Market Value (USD) in 2024 | $100.94 Billion |
| Forecasted Market Value (USD) by 2030 | $168.62 Billion |
| Compound Annual Growth Rate | 8.9% |
| Regions Covered | India |
Companies Featured
- Rajesh Exports Limited
- Malabar Gold Private Limited
- Titan Company Limited
- Bhima Jewellery and Diamonds Private Limited
- Kalyan Jewellers India Limited
- PC Jeweller Limited
- Tribhovandas Bhimji Zaveri Limited
- Joyalukkas India Limited
- Hari Krishna Exports Private Limited
- Vaibhav Global Limited
For more information about this report visit https://www.researchandmarkets.com/r/92x39g
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- Indian Gems and Jewelry Market
