Australia Jewelry Market By Product Type (Necklaces and Chains, Earrings, Rings, Bracelets, Others), By Material (Gold, Silver, Platinum, Diamond, Others), By Gender (Women, Men), By Sales Channel (Online, Offline), By Region, Competition Forecast & Opportunities, 2020-2030F

Market Overview

The Australia Jewelry Market was valued at USD 3.02 Billion in 2024 and is expected to reach USD 3.69 Billion by 2030 with a CAGR of 3.46% during the forecast period. The market is growing due to several factors. The rising demand for luxury and fashion jewelry is driven by a growing middle-class population and ongoing innovation within the sector. Consumers are increasingly seeking rare and customized pieces, leading to the adoption of trends like personalization and bespoke designs. Furthermore, the recent surge in e-commerce has made a wide variety of jewelry more accessible to customers, further accelerating market growth. In February2025, Australian jewelry sales improved compared to January, showing positive trends despite economic pressures. Retail Edge data indicates a rise in sales volume and value, with diamond and precious metal jewelry performing well. The increase reflects growing consumer confidence and strong demand for high-quality pieces.

Key Market Drivers

Increasing Consumer Demand for Luxury Products

The growing demand for luxury jewelry in Australia is a significant driver of the jewelry market. As the Australian economy continues to thrive, many consumers experience an increase in disposable income, which allows them to spend more on high-end products. Luxury jewelry has become a symbol of status and prestige, with consumers seeking products that represent exclusivity, craftsmanship, and elegance. As wealth distribution has shifted, more middle-income individuals can now afford premium jewelry, contributing to the growth of the market. Additionally, with the rise of social media and influencer culture, more consumers are exposed to luxurious lifestyle trends, further fueling the demand for luxury jewelry. This includes both traditional luxury items such as diamond rings and necklaces, as well as high-end watches and designer collections. Furthermore, the global trend of personalization and customization in luxury products has driven consumers to seek unique, one-of-a-kind pieces, contributing to the expansion of the luxury jewelry sector in Australia. In 2024, Cartier SA showcased its High Jewellery collection in Sydney, featuring over 300 designs, the largest number of pieces ever exhibited in Australia.

Growing Interest in Sustainable and Ethical Jewelry

Another key driver for the Australia jewelry market is the increasing consumer awareness around sustainability and ethical sourcing. Over the past decade, there has been a growing emphasis on sustainable and ethically sourced materials in various industries, and jewelry is no exception. Australian consumers are more conscious than ever about the environmental and social impacts of their purchases. They are increasingly looking for jewelry brands that use recycled metals, responsibly sourced gemstones, and fair labor practices. This shift in consumer behavior has pushed several jewelry brands to focus on creating transparent, sustainable collections. Additionally, lab-grown diamonds and alternative gemstones are gaining traction, as they offer a more eco-friendly and cost-effective option compared to traditionally mined stones. This rising demand for sustainable jewelry is transforming the market, encouraging both established brands and new players to adapt to these ethical considerations and attract a conscientious consumer base.

Influence of Online Shopping and Digital Platforms

The rapid growth of online shopping and digital platforms has significantly influenced the Australia jewelry market. With the rise of e-commerce, consumers now have access to a wide variety of jewelry from both local and international brands without the need to visit physical stores. This convenience has expanded the reach of jewelry brands, allowing them to cater to a broader audience. Additionally, the use of digital platforms has made it easier for consumers to compare prices, explore new collections, and read reviews before making a purchase. Social media platforms like Instagram and Pinterest also play a crucial role in shaping consumer preferences, as they allow jewelry brands to showcase their products to a global audience. The ability to try on jewelry virtually, through augmented reality tools, and the availability of personalized shopping experiences has enhanced the overall consumer journey. This digital transformation has been a significant driver in making jewelry more accessible, contributing to the growth of the Australia jewelry market.           

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Key Market Challenges

Fluctuating Raw Material Prices

One of the significant challenges faced by the Australia jewelry market is the volatility in the prices of raw materials, particularly precious metals and gemstones. The global supply chain for metals like gold, silver, and platinum is susceptible to fluctuations in market conditions, geopolitical events, and changes in mining output. For instance, the price of gold can vary significantly due to global economic factors, including inflation rates, trade tensions, and shifts in investor demand for gold as a safe-haven asset. Similarly, the cost of gemstones is influenced by factors such as rarity, mining regulations, and environmental challenges. This price volatility creates uncertainty for jewelry manufacturers and retailers, as they must manage production costs and adjust their pricing strategies accordingly. In turn, consumers may face higher prices for finished jewelry, potentially impacting demand, especially in price-sensitive segments. Jewelry brands that rely on premium materials must also navigate the challenge of sourcing these materials ethically, which can add additional costs, further complicating the pricing dynamics in the market.

Intense Market Competition

The Australia jewelry market is highly competitive, with a large number of established and emerging brands vying for consumer attention. Local jewelry retailers face competition not only from domestic players but also from international brands entering the Australian market through online platforms. The growing popularity of e-commerce has intensified the competitive landscape, as customers now have access to a global range of products at competitive prices. For traditional brick-and-mortar stores, this means they must innovate and offer unique selling propositions, such as exclusive collections or personalized services, to stand out. Smaller, independent jewelers may struggle to compete with large retailers or online platforms that benefit from economies of scale and wider distribution networks. Additionally, the rise of fast-fashion jewelry, which offers trendy yet affordable pieces, presents a challenge for luxury and high-end jewelry brands. To stay competitive, jewelry businesses need to invest in marketing, enhance customer experiences, and differentiate themselves with product quality and design innovation, which can be costly and resource-intensive.

Consumer Price Sensitivity and Economic Uncertainty

Economic uncertainty is a growing concern for the Australia jewelry market. While jewelry is often seen as a luxury item, many consumers view it as discretionary spending, particularly during times of financial instability. Economic factors such as rising inflation, unemployment, and fluctuations in the housing market can reduce consumers’ disposable income, leading them to cut back on non-essential purchases. As a result, jewelry businesses may experience slower sales during periods of economic downturn, making it challenging to maintain consistent revenue growth. Moreover, consumers have become more price-sensitive, seeking value for money while still desiring quality and style. This trend puts pressure on jewelry brands to balance product quality with affordable pricing strategies, which can be difficult, especially when the cost of raw materials and labor continues to rise. Jewelry brands must also carefully consider consumer preferences for purchasing, with some gravitating toward more affordable, trend-driven pieces over traditional, higher-priced luxury items. Adjusting to shifting consumer behavior in the face of economic challenges remains a significant hurdle for businesses in the Australia jewelry market.

Key Market Trends

Sustainability and Ethical Sourcing

One of the most prominent trends in the Australia jewelry market is the growing demand for sustainable and ethically sourced products. Consumers are increasingly aware of the environmental and social impacts associated with jewelry production, such as the mining of precious metals and gemstones. This has led to a shift in preferences toward jewelry made from recycled materials, lab-grown diamonds, and responsibly sourced gemstones. Brands are responding by implementing transparent supply chains and obtaining certifications to ensure their materials are ethically sourced. Additionally, there’s a growing emphasis on eco-friendly packaging and minimizing waste during the production process. Consumers, especially millennials and Gen Z, are actively seeking brands that align with their values, favoring products that promote social and environmental responsibility. This trend is not only influencing consumer purchasing behavior but also pushing jewelry companies to innovate in their sourcing practices and develop new sustainable technologies. As the demand for sustainable jewelry continues to grow, it’s expected that more brands will incorporate these principles into their offerings, making sustainability a significant competitive differentiator in the market.

Personalized and Custom Jewelry

Personalized and custom-made jewelry is gaining significant traction in the Australian market as consumers increasingly seek unique, one-of-a-kind pieces that reflect their individual style and story. The rise of customization in jewelry has been driven by advances in technology, such as 3D printing and engraving, allowing consumers to design their jewelry or personalize existing pieces with names, initials, birthstones, or special dates. This trend caters to the growing demand for meaningful, sentimental items, particularly for special occasions such as weddings, anniversaries, and birthdays. Many jewelry brands now offer online platforms where customers can easily create bespoke designs, which has further expanded the appeal of personalized jewelry. In addition, the trend towards customization is often linked to the desire for exclusivity, with consumers preferring pieces that are not mass-produced. This growing interest in personalized jewelry also ties into broader trends in fashion, where self-expression and individuality are key values. As a result, more jewelers are adopting flexible production methods to meet this demand, making custom jewelry more accessible to a broader range of consumers.

Digitalization and E-Commerce Growth

The digitalization of the Australia jewelry market is another major trend that has been accelerated by the rise of e-commerce and changing consumer shopping habits. With the increasing preference for online shopping, more consumers are turning to digital platforms to browse, compare, and purchase jewelry. Many jewelry brands are enhancing their online presence by developing user-friendly websites, offering virtual try-on features, and incorporating augmented reality (AR) tools to allow customers to visualize how pieces will look on them before making a purchase. Social media platforms, particularly Instagram and Pinterest, are also playing a vital role in shaping jewelry trends and influencing consumer decisions, with many brands using these channels to engage with potential buyers and showcase new collections. The rise of direct-to-consumer (DTC) business models is further reshaping the market, allowing jewelers to bypass traditional retail channels and offer better prices, personalized experiences, and more control over brand messaging. As online shopping becomes increasingly popular, jewelry retailers are also investing in more efficient digital marketing strategies to reach a broader audience, solidifying e-commerce as a dominant force in the Australia jewelry market.

Segmental Insights

Product Type Insights

In the Australia jewelry market, necklaces and chains was the dominant segment, holding a significant share due to their widespread appeal and versatility. Necklaces, ranging from simple chains to elaborate statement pieces, are favored for their ability to complement a variety of outfits, whether casual, formal, or for special occasions. This versatility makes them popular across all demographics, from young fashion enthusiasts to older consumers looking for timeless elegance. Additionally, necklaces and chains are often seen as symbols of personal style, with consumers gravitating toward pieces that reflect their individual taste. The increasing trend of personalized jewelry further fuels the demand for necklaces and chains. Customized pendants, nameplates, and birthstone designs are particularly popular, making this segment attractive to those seeking meaningful, one-of-a-kind items. Necklaces also hold significance for milestone events, such as weddings and anniversaries, where they serve as both accessories and sentimental gifts. Moreover, the rising popularity of layering necklaces and stacking chains, as influenced by fashion trends, has contributed to the continued demand in this category. This trend of mixing and matching various chain lengths and styles adds to the overall market growth for necklaces and chains, solidifying them as the dominant product segment in the Australia jewelry market.

Material Insights

In the Australia jewelry market, gold was the dominant material segment, holding a significant share due to its enduring appeal, versatility, and status as a symbol of luxury and wealth. Gold has long been a preferred choice for jewelry, including necklaces, rings, earrings, and bracelets, due to its timeless value and aesthetic appeal. The material's durability, malleability, and ability to maintain its luster over time make it highly sought after by consumers looking for both long-lasting pieces and investment options. Gold jewelry is particularly popular in both 14K and 18K variations, with yellow, white, and rose gold offering diverse style choices. The value of gold as a precious metal also makes it an attractive choice for consumers seeking to purchase items with a high intrinsic worth. Moreover, gold’s ability to retain its value during economic uncertainties further boosts its popularity, as it is often seen as a stable investment. Gold jewelry is also a staple in significant life events such as weddings, engagements, and other milestones, where items like wedding bands, engagement rings, and heirloom pieces are commonly crafted from gold. This deep-rooted association with key life moments ensures that gold remains the dominant material in the Australia jewelry market.

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Regional Insights

In the Australia jewelry market, Queensland was the dominant region, contributing significantly to the country’s overall jewelry sales. This is primarily due to the state’s large and diverse population, a thriving tourism industry, and a strong affinity for luxury goods. Queensland's vibrant and growing economy, coupled with its strong retail sector, has made it a key hub for jewelry sales. The region benefits from a robust tourism market, with both domestic and international visitors frequently purchasing jewelry as souvenirs or luxury items. Queensland’s coastal cities, such as Brisbane and the Gold Coast, attract high levels of tourists who often seek premium and unique jewelry, further boosting demand. Additionally, Queensland residents have a high disposable income, enabling them to invest in quality jewelry pieces, making it an attractive market for both high-end and fashion jewelry. The state's preference for luxury goods and custom-designed jewelry has driven the growth of both independent jewelry designers and large retail chains in Queensland. As a result, many of Australia’s leading jewelry brands have focused their retail presence in this region, solidifying its position as the dominant segment in the Australia jewelry market. The combination of a prosperous economy, high demand for luxury items, and a strong retail infrastructure continues to make Queensland a central player in the country's jewelry industry.

Recent Developments

• In 2024, Malabar Gold & Diamonds inaugurated its first showroom in Sydney, Australia. The showroom showcases around 30,000 jewelry designs across bridal, everyday, and occasional wear categories. The collection includes pieces crafted in 18K, 22K, and platinum, featuring diamonds.
• In 2024, Michael Hill Jeweller (Australia) Pty Ltd announced the signing of iconic Australian model Miranda Kerr as its brand ambassador for an 18-month period. Kerr will feature in upcoming marketing campaigns, brand events, promotional activities, and advertising initiatives for Michael Hill.
• In 2023, Pandora Jewelry Pty Ltd introduced Pandora Nova in Australia, featuring princess-cut or round brilliant lab-grown diamonds set in a unique four-prong setting. Australia became the third market for the company to launch Pandora lab-grown diamonds, following the United States and the United Kingdom. Initially, three collections were available at nearly 50 locations across the country, including online. The diamonds were set in 14-carat yellow gold, 14-carat white gold, and sterling silver.
• In 2024, Swarovski Australia Pty Ltd introduced its Swarovski Created Diamond collection in Melbourne. The collection highlights the richness and brilliance of the diamonds through unique and creative designs. Set in materials like gold and sterling silver, the pieces feature modern cluster and solitaire lab-grown diamonds, offering a more environmentally friendly and sustainable option.

Key Market Players

• Pandora Jewelry Pty Ltd
• Michael Hill Jeweller (Australia) Pty Ltd
• Richemont Australia Pty Limited
• Lovisa Pty Ltd
• Prouds Jewellers Pty Ltd
• Shiels Jewellers, Mimco Pty Ltd
• Louis Vuitton Australia Pty Ltd
• Swarovski Australia Pty Ltd
• Duraflex Group Australia (Thomas Sabo)
• Malabar Gold And Diamonds Limited

Report Scope:

In this report, the Australia Jewelry Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

• Australia Jewelry Market, By Product Type:

o   Necklaces and Chains

o   Earrings

o   Rings

o   Bracelets

o   Others

• Australia Jewelry Market, By Material:

o   Gold

o   Silver

o   Platinum

o   Diamond

o   Others

• Australia Jewelry Market, By Gender:

o   Women

o   Men

• Australia Jewelry Market, By Sales Channel:

o   Online

o   Offline

• Australia Jewelry Market, By Region:

o   New South Wales

o   Victoria

o   Queensland

o   South Australia

o   Western Australia

o   Tasmania

o   Northern Territory

Competitive Landscape

Company Profiles: Detailed analysis of the major companies presents in the Australia Jewelry Market.

Available Customizations:

Australia Jewelry Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).