China Gems and Jewelry Market Overview, 2028

China Gems and Jewelry Market Overview, 2028
China's rich cultural heritage, economic prowess, and growing consumer base have positioned it as a dynamic force in the global gems and jewellery market. With a history steeped in ornamental adornment, China's gems and jewellery industry is experiencing a transformative journey that reflects the nation's evolving tastes, values, and economic vitality. For centuries, China's appreciation for gemstones and jewellery has been woven into its cultural fabric. From imperial dynasties adorning themselves with jade and precious metals to modern-day celebrations of love and prosperity, jewellery holds deep cultural significance. China's rapid economic growth has led to an expanding middle class with increased disposable income. This newfound affluence has elevated consumer spending on luxury goods, including gems and jewellery, contributing to the industry's vibrant growth. China boasts a rich geological diversity that yields an array of gemstones, including jade, pearls, amber, and even diamonds. Jade, in particular, holds a revered status in Chinese culture, symbolising purity, longevity, and spiritual vitality. China's tech-savvy population has embraced e-commerce, propelling online platforms to the forefront of the gems and jewellery market. Online retailers provide access to a vast selection of jewellery pieces, catering to diverse preferences and budgets. Chinese consumers seek jewellery that resonates with cultural symbolism and personal significance. Pieces with auspicious motifs, zodiac symbols, and custom engravings are popular choices, reflecting a fusion of tradition and modern individualism.

According to the research report ""China Gems and Jewellery Market Overview, 2028,"" published by Bonafide Research, the China Gems and Jewellery Market were valued at more than USD 60 billion in 2022. China's rapidly growing middle class with increased disposable income has led to a surge in demand for luxury goods, including gems and jewellery. As more individuals have the financial means to invest in adornments, the market experiences significant growth. Weddings are a key driver of the gem and jewellery market in China. Jewellery is an integral part of Chinese weddings, symbolising love, commitment, and prosperity. The tradition of exchanging jewellery gifts between families adds to the demand. Jewellery holds cultural significance in China, where it is often associated with prosperity, luck, and protection. This cultural aspect drives demand for various types of jewellery, including jade, gold, and precious gemstones. Online retail, particularly through platforms like Alibaba's Tmall and JD.com, has become a dominant channel for jewellery sales. The convenience and variety offered by e-commerce platforms have significantly impacted the market. Based on the material types, they include gold, silver, platinum, diamonds, and others. In China, the gold market is leading as a material type for gems and jewellery. Gold has deep cultural and historical significance in China. It is associated with wealth, prosperity, and good luck. Many Chinese families consider gold jewellery an important part of their cultural heritage and often pass down gold items from generation to generation. The Chinese government has actively promoted gold ownership. They have encouraged citizens to invest in gold as a way to diversify their wealth and have even introduced gold savings plans. This promotion has contributed to gold's popularity in the country. Owning gold jewellery, particularly high-quality pieces, is associated with social status and prestige in Chinese society. This motivates consumers to invest in gold jewellery as a symbol of success and accomplishment.

Based on the product types Rings, Necklaces, Earrings, Bracelets, Chains, Pendants, and others, among them, Necklaces are a growing market in China. Necklaces have significant cultural significance in China. They are often associated with symbols of protection, luck, and prosperity. Jade necklaces, for example, are believed to bring good fortune and ward off negative energy. This cultural symbolism drives the demand for necklaces, making them a popular choice for personal wear and gifting. China's growing middle class and exposure to global fashion trends have led to an increased interest in accessorising with necklaces. Consumers often seek trendy and fashionable necklace designs to complement their attire. Necklaces featuring coloured gemstones such as sapphires, rubies, emeralds, and various semi-precious stones have seen increased interest. Chinese consumers are drawn to the vibrant colours and symbolism associated with these gemstones. Halo settings and mixed gemstone designs have been trendy. Vintage-inspired and antique-style necklaces have made a comeback, with intricate filigree work, Art Deco designs, and Victorian aesthetics being favoured by collectors and fashion enthusiasts.

Weddings, collections, festive blessings, fashions, and others are considered the applications of gems and jewellery. As festive blessings are growing, so is the application of the gems and jewellery market. Many gemstones and jewellery items are believed to have protective and auspicious properties. For example, jade is thought to bring good luck and ward off negative energy. By giving jewellery containing these gemstones, people express their hope for good fortune and protection for the recipient. Chinese culture places a strong emphasis on maintaining family traditions and customs. The practise of gifting gems and jewellery during festivals has been passed down through generations and is seen as a way to honour and preserve these cultural traditions. Jewellery is often seen as a form of family heirloom. Passing down jewellery from one generation to the next is a way to preserve family history and legacy. By gifting jewellery, individuals entrust their family's heritage to the recipient. Distribution channels include jewellery stores, multi-branded stores, stand-alone stores, and online stores; among them, jewellery stores are leading the gems and jewellery market in China. Established jewellery stores often have a long-standing reputation for quality and authenticity. Chinese consumers place a high value on trust and reputation when purchasing high-value items like jewellery. Recognisable and reputable brands and stores are trusted sources for genuine and high-quality products. Many jewellery stores in China offer customization services, allowing customers to create bespoke pieces tailored to their individual tastes and needs. This personalised approach is highly appealing to consumers seeking unique and meaningful jewellery.

Some of gems and jewelry exhibitions in the China market:

• China International Diamond, Gem & Jewelry Expo: This exhibition will be held from September 15-18, 2023, at the China Import and Export Fair Complex in Guangzhou.

• Shenzhen International Jewellery & Gem Fair: This exhibition will be held from October 12-15, 2023, at the Shenzhen Convention and Exhibition Center.

• Beijing International Jewellery Show: This exhibition will be held from November 1-4, 2023, at the Beijing International Exhibition Center.

• Shanghai International Jewellery Show: This exhibition will be held from November 8-11, 2023, at the Shanghai New International Expo Center.

Considered in this report

• Geography: China
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report

• China Gems & Jewelry 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)

By Product

• Rings
• Necklaces
• Earrings
• Bracelets
• Chains and Pendants
• Others (brooches, cufflinks, and hair accessories)

By Application

• Weddings
• Collections
• Festive Blessing
• Fashions
• Others (birthdays, graduations, or religious holidays)

By Distribution Channel

• Jewelry Stores
• Multi Branded Stores
• Standalone
• Online

The approach of the report:

This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone 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 making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources.

Intended audience

This report can be useful to industry consultants, manufacturers, suppliers, associations and organizations related to the Gems & Jewelry industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.