Australia Jewellery Market Outlook

According to the report by Expert Market Research (EMR), the Australia jewellery market size achieved a value of USD 3.34 billion in 2024. Driven by increasing consumer interest in luxury and premium jewellery, rising disposable incomes, and expanding e-commerce platforms, the market is expected to grow at a compound annual growth rate (CAGR) of 2.76% from 2025 to 2034, reaching a market value of USD 4.26 billion by 2034.

The Australia jewellery market is characterised by a diverse range of products, including gold, silver, diamond, and other precious and semi-precious jewellery. The market is influenced by various factors such as fashion trends, cultural significance, and shifting consumer preferences. Over the years, jewellery has evolved from being purely ornamental to becoming a symbol of personal identity, investment, and status. In this report, we examine the key factors driving the Australian jewellery market and highlight the challenges and opportunities that are shaping its future growth.

Key Drivers of Market Growth

Several factors are driving the growth of the Australia jewellery market. One of the primary drivers is the increasing consumer demand for premium and luxury jewellery. As Australian consumers continue to focus on quality and exclusivity, high-end jewellery items, particularly those made from gold, platinum, and diamonds, are experiencing sustained demand. Luxury jewellery brands such as Tiffany Co., Pandora, and Bulgari have a strong presence in Australia, and their appeal continues to attract affluent buyers. Moreover, the younger generation is also showing an increasing preference for high-end jewellery as a means of personal expression and status symbol.

Alongside the demand for luxury items, there is a growing interest in sustainable and ethically sourced jewellery. Consumers are becoming more aware of the environmental and social impacts of jewellery production, particularly in relation to mining practices. As a result, brands that promote transparency, sustainability, and ethical sourcing are gaining popularity. Ethical sourcing involves using conflict-free diamonds, recycled metals, and responsibly sourced gemstones. This shift towards ethical jewellery is expected to significantly influence the market, particularly among millennials and Gen Z consumers, who are increasingly prioritising sustainability in their purchasing decisions.

E-commerce has become a crucial channel for the Australia jewellery market. The growth of online jewellery retailers and the increasing use of digital platforms have expanded the reach of jewellery brands, allowing them to target a wider audience. The convenience of shopping online, coupled with advancements in virtual try-on technology and better customer service, has made online jewellery shopping more attractive. The rise of social media platforms, such as Instagram and Pinterest, has also played a pivotal role in driving jewellery trends and influencing consumer purchasing decisions. Social media influencers and celebrity endorsements contribute significantly to the popularity of certain jewellery designs and brands.

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Changing Consumer Preferences

Consumer preferences in the Australia jewellery market have evolved considerably over the past few years. While traditional jewellery styles remain popular, there has been a noticeable shift towards modern and contemporary designs. Consumers are increasingly opting for minimalist, sleek, and personalized jewellery pieces, as opposed to heavily ornate or traditional designs. Customised jewellery, where consumers can select the materials, stones, and design elements, is particularly sought after. The growing demand for personalised jewellery reflects a broader trend of individualism, with consumers desiring unique pieces that reflect their personalities and life stories.

Additionally, the Australia jewellery market has seen a growing preference for alternative gemstones, such as sapphires, rubies, and emeralds, which offer consumers more variety and options beyond the traditional diamond. Lab-grown diamonds, which offer a more affordable and ethical alternative to natural diamonds, have also gained significant traction in recent years. These diamonds have become increasingly popular due to their cost-effectiveness and environmental benefits. With advancements in technology, lab-grown diamonds are virtually identical to their mined counterparts, making them an appealing choice for consumers seeking luxury at a more accessible price point.

The rise of vintage and antique jewellery is another key trend in the Australia market. Many consumers are turning to second-hand jewellery as a way to own a unique piece with historical value. Vintage jewellery often comes with a sense of nostalgia and heritage, and its rarity makes it a desirable option for collectors. The growing interest in second-hand jewellery has been bolstered by platforms that facilitate the buying and selling of pre-owned pieces, providing consumers with access to high-quality vintage items at a fraction of the price of new jewellery.

Technological Advancements and Digital Transformation

Technological innovations are revolutionising the Australia jewellery market, particularly in the areas of product design, manufacturing, and retailing. 3D printing has emerged as a key technology, enabling jewellery designers to create intricate and custom pieces with precision and speed. This technology allows for greater creativity in design, while also reducing the cost and time associated with traditional jewellery production methods. Consumers can now access bespoke jewellery services that were previously limited to high-end jewellery houses, giving them the ability to design unique pieces tailored to their specific preferences.

Virtual try-on technology is another significant advancement that is changing the way consumers shop for jewellery. Using augmented reality (AR), consumers can virtually try on jewellery pieces through their smartphones or computers. This technology enhances the online shopping experience, enabling customers to visualise how a piece will look on their body before making a purchase. Virtual try-ons are particularly valuable for online jewellery retailers, as they address one of the primary challenges of online jewellery shopping: the inability to physically try on the product.

Blockchain technology is also beginning to make its mark on the jewellery industry, particularly in the area of traceability and authenticity. Blockchain offers a secure, transparent, and immutable ledger for recording the origin of gemstones, metals, and diamonds. This technology helps ensure the authenticity of jewellery items and guarantees that they have been ethically sourced. Consumers are becoming increasingly conscious of the origins of the jewellery they purchase, and blockchain technology offers a solution to verify the provenance of materials, particularly in luxury jewellery.

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 Australia Jewellery Market

Despite the positive growth outlook, the Australia jewellery market faces several challenges that could impact its future trajectory. The most significant challenge is the volatility of raw material prices, particularly for gold, diamonds, and other precious stones. Price fluctuations in these materials can affect the profitability of jewellery manufacturers and retailers, as well as consumer purchasing behavior. Additionally, the global supply chain disruptions, exacerbated by geopolitical tensions and natural disasters, have led to delays in the delivery of raw materials, impacting the production timelines of jewellery brands.

Another challenge is the growing competition from international brands and online retailers. While Australian jewellery brands have a strong domestic presence, they face increasing pressure from international competitors that offer similar products at lower prices. The rise of e-commerce has further intensified competition, as consumers now have access to a global marketplace, making it more difficult for local retailers to maintain market share.

Finally, counterfeiting and the sale of non-authentic jewellery pose a threat to the industry. Counterfeit jewellery, particularly luxury and designer pieces, continues to be a problem, with consumers unknowingly purchasing fake products. This undermines the reputation of genuine jewellery brands and erodes consumer trust.

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