Global gold jewellery consumption fell to 299.7 tonnes in the first quarter of 2026, the weakest quarter since Q2 2020. Spending on that same jewellery hit a record US$47 billion. Fewer grams, more money, is the story of this year. Below: market size forecasts, demand by country, brand results, US consumer spending and lab-grown diamond share.
Jewelry Market Statistics 2026: Key Numbers
- Statista Market Insights projects worldwide jewelry revenue of US$408.64 billion in 2026, up 5.1% on 2025.
- World gold jewellery consumption reached 299.7 tonnes in Q1 2026, down 23% year on year, with demand value at a first-quarter record US$47 billion.
- Richemont’s Jewellery Maisons booked €4,732 million in sales in the quarter ended 30 June 2026, up 24% at constant rates.
- US personal consumption expenditure on jewelry and watches was US$105.991 billion in 2025 in current dollars, per BEA data.
- Lab-grown center stones featured in 61% of engagement rings among 10,474 US couples married in 2025, according to The Knot.
How Big Is the Jewelry Market in 2026?
Statista Market Insights puts worldwide jewelry revenue at US$408.64 billion for 2026, a 5.1% rise on the prior year, with a 5.10% compound annual growth rate projected through 2031. The scope covers high jewelry and fashion jewelry bought by private end customers, offline and online.
China is the largest single country in that series, at an estimated US$126 billion for 2026. Average revenue per capita worldwide works out to US$51.89.
Source: Statista Market Insights, Jewelry Worldwide outlook, 2026
Fortune Business Insights scopes the market differently and lands much lower: US$254.13 billion in 2026, rising to US$387.36 billion by 2034 at a 5.41% CAGR. The same firm valued Asia Pacific at US$95.24 billion in 2025, or 39.23% of its global total. The gap between the two forecasts is a definition gap, not a disagreement about direction.
Source: Fortune Business Insights, Jewelry Market Report, 2026–2034
Bain & Company’s spring update, published 25 June 2026, sizes personal luxury goods at €358 billion for 2025 and expects €365–373 billion in 2026, growth of 2% to 4%. Jewelry leads the category table in Bain’s 2026 analysis. Worldwide luxury spending across all segments reached €1,443 billion in 2025. Categories like this sit inside the wider retail trend coverage on Quantumrun, where channel shifts and consumer behaviour are tracked across sectors.
Source: Bain & Company and Altagamma, Luxury Goods Worldwide Market Study spring update, June 2026
Jewelry Market Statistics: Gold Jewellery Demand in Q1 2026
The World Gold Council measures gold jewellery consumption in fine-weight tonnes. On that measure Q1 2026 was the second time in the series that quarterly demand dropped below 300 tonnes.
Value moved the opposite way. Demand value rose 31% year on year to US$47 billion, a record for any first quarter, as record prices pushed buyers toward lighter and lower-carat pieces.
Country data shows where the volume went. Mainland China lost 32% year on year, India 19%, and the United States 44%, the steepest fall among major markets.
| Market | Q1 2025 (t) | Q1 2026 (t) | Change |
|---|---|---|---|
| China, P.R.: Mainland | 124.9 | 85.2 | -32% |
| India | 81.6 | 66.1 | -19% |
| United States | 23.3 | 13.1 | -44% |
| Saudi Arabia | 14.6 | 12.7 | -13% |
| Turkey | 8.9 | 6.8 | -23% |
| Russian Federation | 7.5 | 6.7 | -10% |
| Egypt | 6.4 | 5.2 | -19% |
| Hong Kong SAR | 6.4 | 4.8 | -25% |
| UAE | 7.9 | 4.7 | -40% |
| World total | 391.2 | 299.7 | -23% |
Source: Metals Focus, Refinitiv GFMS, ICE Benchmark Administration, World Gold Council, Gold Demand Trends Q1 2026
Spending records were set even in the markets that shrank most. India’s gold jewellery demand value hit a Q1 record of roughly US$11 billion. Middle Eastern markets recorded universal double-digit volume declines alongside a 30% rise in value to a record US$5 billion.
Source: World Gold Council, Gold Demand Trends Q1 2026, data to 31 March 2026
Jewelry Market Statistics by Company: Richemont and LVMH
Richemont
Richemont reported group sales of €6,329 million for the three months to 30 June 2026, up 20% at constant exchange rates. The Jewellery Maisons — Buccellati, Cartier, Van Cleef & Arpels and Vhernier — accounted for €4,732 million of that, a seventh consecutive quarter of double-digit growth.
| Business area | Apr–Jun 2025 (€m) | Apr–Jun 2026 (€m) | Constant rates |
|---|---|---|---|
| Jewellery Maisons | 3,914 | 4,732 | +24% |
| Specialist Watchmakers | 824 | 873 | +8% |
| Other | 674 | 724 | +9% |
| Group total | 5,412 | 6,329 | +20% |
Source: Richemont, FY27 Q1 sales announcement, quarter ended 30 June 2026
Japan grew fastest by region at 36% constant, against a 15% drop a year earlier. The Americas rose 27%, Asia Pacific 21%, Europe 11%. Middle East & Africa returned to growth at 3% as local demand offset a drop in tourist spending.
For the full year to 31 March 2026, Jewellery Maisons sales were €16.5 billion, up 14% at constant rates, with an operating margin of 30.5% and €5 billion of operating profit. Online retail sales across the group rose 8% at constant rates that year, slower than the 12% in physical retail, a reversal of the pattern in wider e-commerce benchmarks.
Source: Richemont, FY26 annual results, year ended 31 March 2026
LVMH
LVMH recorded €80,807 million of revenue in 2025, down 5% reported and 1% organic. Its Watches & Jewelry group, which holds Tiffany & Co., Bvlgari, Chaumet, TAG Heuer and Hublot, posted €10,486 million, down 1% reported but up 3% organic. Profit from recurring operations for the division was €1,514 million, down 2%.
The quarterly path matters more than the annual number. Organic growth was flat in the first half, then turned: +2% in Q3 and +8% in Q4.
Source: LVMH, 2025 Full Year Results, published 27 January 2026
US Jewelry Market Statistics: What Americans Spend
US personal consumption expenditure on jewelry and watches reached US$105.991 billion in 2025 in current dollars, the highest annual figure in the BEA series. The series was last updated on 13 March 2026.
Adjusted for prices, the picture inverts. Real expenditure on the same category was US$93.133 billion in chained 2017 dollars in 2025, below the US$94.115 billion recorded in 2024. Americans spent more dollars on less jewelry.
Source: US Bureau of Economic Analysis, series DJRYRC1A027NBEA, via Federal Reserve Economic Data, annual 2021–2025
The store side of that spending is changing shape too, a theme covered in Quantumrun’s future of retail series and in its read on what shoppers will expect from stores by 2030.
Lab-Grown Diamonds in the 2026 Jewelry Market
The Knot’s 2026 Real Weddings Study collected self-reported responses from 10,474 US couples married between 1 January and 31 December 2025. Among them, 61% of engagement rings featured a lab-grown center stone, a 239% increase on 2020.
Four in ten couples said it was specifically important that the stone be lab-grown. Rings in the study averaged 1.9 carats at an average spend of US$4,600.
Context for the spend figure: around 2 million US couples married in 2025, at an average wedding cost of US$34,000 and US$292 per guest. Gen Z made up 41% of the surveyed market.
Source: The Knot Worldwide, 2026 Real Weddings Study, published 18 February 2026
Retail technology is moving alongside these preferences, something Quantumrun mapped in its forecast of retail tech through the 2030s.
FAQ
How big is the jewelry market in 2026?
Statista Market Insights projects US$408.64 billion in worldwide jewelry revenue for 2026, up 5.1% on 2025. Fortune Business Insights, using a narrower scope, projects US$254.13 billion for the same year.
Which country buys the most gold jewellery?
Mainland China led in Q1 2026 at 85.2 tonnes, ahead of India at 66.1 tonnes, per World Gold Council data to 31 March 2026. Both fell year on year, China by 32% and India by 19%.
Are jewelry market statistics posted on Reddit reliable?
Reddit threads usually recycle figures from press summaries without the period or scope attached. Every number here traces to a named release: World Gold Council Q1 2026, Richemont’s June 2026 quarter, BEA 2025 annual data and The Knot’s 2026 study.
What share of engagement rings use lab-grown diamonds?
61%, among 10,474 US couples married in 2025 who responded to The Knot’s 2026 Real Weddings Study. That is a 239% increase since 2020. Average spend was US$4,600 at an average 1.9 carats.
Do Reddit claims about falling jewelry sales match the data?
Partly. Gold jewellery volumes did fall 23% year on year in Q1 2026 to 299.7 tonnes. Spending rose 31% to a record US$47 billion over the same quarter, so revenue and tonnage moved in opposite directions.
Sources
https://www.gold.org/goldhub/research/gold-demand-trends/gold-demand-trends-q1-2026/jewellery
https://fred.stlouisfed.org/series/DJRYRC1A027NBEA
https://www.theknotww.com/press-releases/the-knot-worldwide-unveils-2026-real-weddings-study
With many years of professional experience within transnational corporations in different industries, Richard Jaimes has had the opportunity to lead people and organizations, investigate future topics, create strategies and innovations, consult senior management and translate insights into business advantages. Richard is also a long time senior consultant with Quantumrun Foresight.
