Jewellery & Metals

For a global perspective, ​​​​​​according to Statista, in 2022, the global luxury jewelry market amounted to about 28 billion euros. Globally, the lion’s share of the jewelry and watch market revenue generated in 2022 is attributed to three countries: China was the largest, followed closely by India and the United States. The value of the jewelry market is expected to increase from about 270 billion U.S. dollars in 2022 to over 330 billion dollars by 2026.

For the jewelry industry in Canada, here are some revealing insights:

• In Canada, the revenue in the Jewelry market is projected to reach US$2.76bn in 2024.
• It is expected that the market will experience an annual growth rate of 2.86% from 2024 to 2028 (CAGR 2024-2028).
• When compared to other countries globally, India leads the way with a revenue of US$81,260m in 2024.
• In terms of per capita revenue, the Jewelry market in Canada is expected to generate US$70.54 per person in 2024.
• Furthermore, by 2024, approximately 83% of the sales in the Jewelry market will be attributed to Non-Luxury.
• Despite the economic downturn, the demand for locally sourced and sustainable jewelry in Canada is on the rise.

Key players in the Canadian jewelry industry in 2022 in percentage include:

• Claire's 13%
• Micheal Hill 13%
• People's 8%
• Pandora 4%
• Cartier 3%

For more insights on the jewelry industry in Canada, consider reviewing Millennials Surpass Baby Boomers: Impact on Canada's Jewellery Industry - Canadian Jeweller Magazine and listening to this podcast by State of the Canadian Jewellery Industry Amid Direct-to-Consumer Brand Push [Podcast] (retail-insider.com).

From: Jewelry - Canada | Statista Market Forecast