The compound annual growth rate of the international jewellery and gem industry was slated at 3.7% and the market itself will be worth USD 266.53 Billion by 2020-2027. The report reinstated the rising demand for consumer goods in the global jewellery industry. The high rate of growth is seen due to the increasing usage of technology and great surfacing of the digital media platforms that exhibit jewellery and push the demand for precious goods that include luxury items as well.
The report titled, “Jewelry Market Size, Share & COVID-19 Impact Analysis, By Product (Necklace, Earrings, Ring, Bracelet, and Others), Material Type (Gold, Platinum, Diamond, and Others), End-user (Men and Women), and Regional Forecast, 2020-2027” covered companies like Harry Winston, Tiffany & Co, Pandora Jewelry, LLC., Chopard from Switzerland, Chow Tai Fook Jewellery from Hong Kong, Cartier, LVMH Moët Hennessy and Chanel from France, Rajesh Exports India among others. Finally the report compared the market in 2019 valued at USD 330.0 billion and predicted a monumental rise in the near future.