United Kingdom (UK) Gems and Jewelry Market Overview, 2028

The United Kingdom has a long history of jewelry craftsmanship, often intertwined with its royal and noble families. Historic pieces like crowns, tiaras, and brooches hold both cultural and symbolic value, contributing to the nation's heritage. The British royal family's jewelry collection is renowned worldwide. Many pieces in the collection are heirlooms passed down through generations, and they play significant roles in royal weddings, coronations, and other state occasions. The royal family's choice of jewelry often sets trends that influence the wider jewelry market. The Art Nouveau and Edwardian eras were characterized by delicate, flowing designs inspired by nature and the incorporation of precious and semi-precious stones. These design influences are still visible in contemporary British jewelry. The Victorian era saw the rise of sentimental jewelry, often featuring intricate designs with hidden messages and meanings. Mourning jewelry was also popular during this time, reflecting the culture's fascination with death and remembrance. The United Kingdom has a thriving contemporary jewelry design scene. British designers are known for their creativity, innovation, and experimental use of materials. Brands like Boodles, Stephen Webster, and Shaun Leane have gained international recognition for their distinct designs. Similar to other cultures, jewelry in the United Kingdom is worn during special occasions such as weddings, anniversaries, and milestone events. Engagement rings and wedding bands are especially cherished symbols of commitment. Royal weddings, such as those of Prince William and Catherine Middleton and Prince Harry and Meghan Markle, have garnered global attention for their fashion and jewelry choices. The wedding gowns and jewelry worn by royal brides often set trends and influence bridal fashion. Certain gemstones hold cultural significance in the United Kingdom. For example, the use of Scottish agate and Scottish pebble jewelry is deeply rooted in Scottish culture, with intricate designs often featuring locally sourced stones. According to the research report "United Kingdom Gems & Jewelry Market Overview, 2028," published by Bonafide Research, the United Kingdom Gems & Jewelry market is expected to reach market size of more than USD 8.50 Billion by 2028. The trend towards sustainability and ethical sourcing has been gaining momentum in the UK's jewelry market. Consumers are increasingly interested in knowing the origins of their jewelry, including the sources of gemstones and metals. Brands that prioritize ethical practices and transparency in their supply chains have been resonating well with conscious consumers. The popularity of lab-grown diamonds has been growing due to their ethical and environmental advantages. Consumers are becoming more aware of the differences between mined and lab-grown diamonds, leading to increased demand for these alternative options. Vintage and antique jewelry pieces have retained their appeal among consumers who appreciate the history, craftsmanship, and uniqueness of these pieces. Vintage styles, including those from the Art Deco and Victorian eras, have influenced contemporary jewelry design. The concept of jewelry as an investment has gained attention, particularly in uncertain economic times. Precious metals and high-quality gemstones are considered not only as adornments but also as potential assets. Sustainability concerns extend to packaging as well. Many jewelry brands have been adopting eco-friendly packaging options, such as recycled materials and reusable boxes, to minimize their environmental impact. Jewelry rental platforms have emerged, offering consumers the opportunity to rent high-end pieces for special occasions. This trend allows individuals to enjoy luxury jewelry without committing to a permanent purchase. Some brands and retailers have adopted virtual reality (VR) technology, allowing customers to virtually try on jewelry pieces before making a purchase online.

Based on material the market is divided into gold, silver, platinum, diamond and other (Gemstones, palladium, titanium, bronze, copper, and brass). Gold's enduring appeal lies in its timeless elegance. It seamlessly transitions from classic vintage pieces to modern, minimalist designs, making it suitable for all generations and fashion trends. The United Kingdom is a multicultural society with a diverse population. Gold jewelry appeals to people from various cultural backgrounds, and its use in traditional attire is common during cultural festivals and celebrations. The United Kingdom is a major tourist destination, attracting visitors from around the world. Tourists often purchase gold jewelry as souvenirs or gifts, contributing to the overall demand. The United Kingdom has a well-established hallmarking system that guarantees the purity and authenticity of gold jewelry. Consumers can easily verify the quality of gold items through these hallmarks, instilling confidence in their purchases. In addition, Silver jewelry is more affordable compared to gold and other precious metals. This affordability makes it accessible to a broader range of consumers, including younger demographics and those with limited budgets. Silver jewelry is popular among younger consumers who appreciate its modern aesthetic. It often appeals to a demographic looking for stylish yet affordable options. The trend of mixing and matching different jewelry pieces encourages the use of silver alongside other materials, such as gold or gemstones. This versatility allows consumers to create unique looks. In term of product the market is divided into rings, necklaces, earrings, bracelets, chains and pendants and others. Necklaces come in a wide variety of styles, lengths, and designs. This versatility allows consumers to find necklaces that suit their individual tastes and complement different outfits, from casual to formal. Necklaces often align with fashion trends, and their popularity can be influenced by runway styles, celebrity fashion, and social media. Statement necklaces, layered necklaces, and pendant necklaces have been particularly trendy in recent years. Many jewelers offer personalized necklaces that can be customized with names, initials, birthstones, or meaningful symbols. This customization adds a sentimental touch and resonates with consumers seeking unique pieces. In addition, Rings, particularly engagement rings and wedding bands, are a significant part of bridal traditions in the UK. The exchange of rings during marriage ceremonies is a time-honored practice, driving consistent demand for these pieces. Based on distribution channel, online jewelry shopping offers consumers the convenience of browsing and purchasing jewelry from the comfort of their homes or on the go. It eliminates the need to visit physical stores, making it highly accessible to a wide range of consumers. Online jewelry retailers can showcase a vast and diverse range of jewelry products. Consumers have access to a wider variety of designs, styles, and price points than what may be available in a single physical store. Advanced technology enables virtual try-on features, where customers can see how jewelry looks on them without physically trying it on. Visualization tools help customers make confident choices. Many online jewelry retailers offer personalization and customization options, allowing customers to create bespoke jewelry pieces with specific designs, gemstones, and engraving. For instance, some of the most popular online channels for gems and jewelry in the United Kingdom include 77 Diamonds, Asos, Farfetch, John Lewis, Pandora and more.

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Manmayi Raval

Research Consultant

Considered in this report: • Geography: United Kingdom • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028 Aspects covered in this report: • United Kingdom Gems & Jewelry market with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Material • Gold • Silver • Platinum • Diamond • Others (Gemstones, palladium, titanium, bronze, copper, brass)

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By Product • Rings • Necklaces • Earrings • Bracelets • Chains and Pendants • Others (brooches, cufflinks, and hair accessories) By Distribution Channel • Jewelry Stores • Multi Branded Stores • Standalone • Online The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources. Intended audience: This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Gems & Jewelry industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.