Australia Jewellery Market Outlook
According to the report by Expert Market Research (EMR), the Australia jewellery market size reached a value of USD 3.34 billion in 2024. Driven by growing consumer preferences for luxury, unique designs, and increasing disposable incomes, the market is projected to grow at a compound annual growth rate (CAGR) of 2.76% between 2025 and 2034, reaching a projected value of USD 4.26 billion by 2034.
The Australian jewellery market is witnessing steady growth as consumers continue to seek high-quality, luxury, and fashion-forward jewellery products. These include a wide range of items such as rings, necklaces, earrings, bracelets, and watches, with a focus on both precious and semi-precious materials. As consumer preferences evolve and the market adapts to new trends and demands, the jewellery market in Australia is expected to continue expanding.
Key Drivers of Market Growth
One of the key drivers of growth in the Australia jewellery market is the increasing demand for luxury goods. Australia has experienced significant economic growth in recent years, leading to a rise in disposable incomes among the population. This shift has contributed to a growing middle-class demographic that is more inclined to spend on premium products, including jewellery. High-end consumers are increasingly seeking jewellery as a means of expressing personal style, luxury, and status. This trend has fostered the demand for exclusive and bespoke pieces, particularly from well-known international brands.
The rise of online retailing has further bolstered the jewellery market. E-commerce platforms provide consumers with a wide range of options, from traditional jewellery brands to more niche designers offering innovative pieces. The convenience of online shopping and the ease of access to global jewellery brands have helped expand the market reach in Australia, offering an enhanced shopping experience and making it easier for consumers to purchase their desired pieces.
Another significant factor contributing to the growth of the Australia jewellery market is the increasing popularity of fine and custom-made jewellery. Consumers are becoming more discerning in their choices, moving away from mass-produced items in favor of one-of-a-kind, handcrafted jewellery. Customisation services offered by leading jewellery brands allow customers to design unique pieces tailored to their personal preferences, further driving demand for high-quality, exclusive products.
The influence of social media and celebrity endorsements also plays a substantial role in shaping consumer behavior. Social platforms such as Instagram and Pinterest have become essential for jewellery brands to showcase their designs, making it easier for consumers to stay informed about trends and styles. Additionally, celebrities and influencers often play a significant role in shaping the public’s purchasing decisions, creating a strong association between high-end jewellery and luxury lifestyles.
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Key Trends in the Australia Jewellery Market
Sustainability and Ethical Sourcing: A growing trend in the Australia jewellery market is the increasing consumer demand for sustainable and ethically sourced materials. With the rise in awareness of environmental and social issues, many consumers are actively seeking brands that prioritise responsible sourcing, eco-friendly production processes, and fair labor practices. This shift has prompted Australian jewellery brands to embrace sustainable practices, using recycled gold, ethically mined diamonds, and other environmentally conscious materials. Several established brands in the Australian market have already adopted these practices to meet the growing demand for eco-friendly jewellery.
Lab-Grown Diamonds: The growing popularity of lab-grown diamonds has also had a significant impact on the Australian jewellery market. Lab-grown diamonds, which are chemically identical to natural diamonds, offer a more affordable and sustainable alternative to traditional diamonds. These diamonds are gaining traction among consumers who are looking for cost-effective options that do not compromise on quality or beauty. The availability of lab-grown diamonds in engagement rings, wedding bands, and other fine jewellery pieces has sparked a shift in consumer behavior, with more Australians embracing these diamonds for their ethical and economic advantages.
Technology Integration: Another prominent trend is the increasing integration of technology in the jewellery industry. From 3D printing to augmented reality (AR) experiences, technology is revolutionising how consumers interact with jewellery brands. The use of 3D printing allows for the creation of intricate designs that were once impossible to achieve, offering new possibilities for customisation. Additionally, AR technology enables customers to virtually try on jewellery, enhancing the online shopping experience. This technological shift is making jewellery more accessible and providing consumers with innovative ways to interact with the market.
Rise of Unisex and Gender-Neutral Jewellery: The growing movement towards inclusivity and diversity is also influencing the jewellery market in Australia. Consumers are increasingly seeking jewellery that transcends traditional gender norms, leading to the rise of unisex and gender-neutral collections. This trend reflects broader cultural shifts towards equality and acceptance, with jewellery brands offering designs that can be worn by individuals of all gender identities. The demand for versatile pieces that cater to diverse tastes and preferences is expected to continue growing in the coming years.
Rise of Online and Hybrid Shopping Experiences: Online jewellery shopping has surged in popularity, driven by the convenience and variety it offers. With the ongoing digital transformation, traditional jewellery retailers are increasingly adopting hybrid models that combine the benefits of physical stores with the reach of online shopping. This shift allows consumers to enjoy the tactile experience of visiting a store while also taking advantage of the convenience of online browsing and purchasing. Jewellery brands that offer seamless omnichannel experiences are gaining a competitive edge in the Australian market.
Australia Jewellery Market Segmentation
The market can be divided based on product, by material, end use, distribution channel and Region.
Market Breakup by Product
- Necklace
- Bracelet
- Earring
- Ring
- Others
Market Breakup by Material
- Gold
- Diamond
- Platinum
- Others
Market Breakup by End Use
- Women
- Men
- Children
Market Breakup by Distributional Channel
- Offline Retail Stores
- Online Retail Stores
Market Breakup by Region
- New South Wales
- Victoria
- Queensland
- Australian Capital Territory
- Western Australia
- Others
Competitive Landscape
Some of the major players explored in the report by Expert Market Research are as follows:
- By Charlotte Pty Ltd.
- Amber sceats Pty Ltd.
- Christie Nicolaides
- Bulgari Australia Pty Ltd.
- Gucci Australia Pty Ltd.
- Others
Challenges Facing the Market
Despite the positive growth outlook, the Australia jewellery market faces a few challenges. One of the key hurdles is the increasing competition from international jewellery brands. While local jewellery brands continue to thrive, international brands, particularly from Europe and the United States, have a strong presence in Australia. This competition can make it difficult for local players to maintain market share, particularly in the luxury segment.
Additionally, fluctuations in the prices of raw materials, such as gold and diamonds, can pose a challenge for jewellery brands. As the cost of production increases, brands may have to raise prices, which could impact consumer demand, especially in a price-sensitive market. The ongoing economic uncertainties and global supply chain disruptions may further exacerbate these challenges.
Future Outlook
The Australia jewellery market is poised for continued growth over the next decade. The demand for high-quality, sustainable, and unique jewellery products is expected to drive innovation in the industry. As consumer preferences evolve towards bespoke pieces, sustainable materials, and ethical practices, jewellery brands must adapt to stay competitive.
The increasing focus on e-commerce and the integration of advanced technologies will also play a pivotal role in shaping the market landscape. By adopting these trends and focusing on consumer-centric strategies, the Australian jewellery market is likely to expand further, reaching new heights in the coming years.
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