The jewelry market is poised for growth due to consumers’ increasing disposable income and innovative designs offered by the manufacturers. In addition, peoples’ changing lifestyles and increasing preference for luxurious products as status symbols have fueled the demand for jewelry. According to Mastercard SpendingPulse, jewelry sales in March 2022 rose 11.9% year-over-year.
Due to the Ukraine-Russia war and the Fed's plans for aggressive interest rate increases, the stock market has experienced massive sell-offs of late. However, we think jewelry stocks could exhibit resilience amid current market fluctuations and rebound in the near term owing to the robust demand for their products. The global jewelry market was valued at $249.02 billion in 2021 and is expected to increase at an 8.5% CAGR from 2022 - 2030.
