India Jewelry Market Report 2024-2029: India's Religious Beliefs, Traditions, and Festive Culture Boosts Demand, Particularly Gold

The market is concentrated, with leading players in the organized sector capturing over 30% of total market sales and nearly 90% of the share within the organized segment.

Dublin, Dec. 23, 2024 (GLOBE NEWSWIRE) -- The "Jewelry Market in India" report has been added to ResearchAndMarkets.com's offering.

The Indian jewelry market is experiencing a rising preference for lightweight, versatile, and minimalistic designs, especially among working women and younger consumers. Jewelry companies are responding by offering traditional Indian designs that are lighter, without compromising on beauty and intricacy, making them suitable for everyday wear.

The Indian jewelry market comprises revenue generated from the sale of bridal, daily wear, and fashion jewelry made from precious metals, pearls, precious and semi-precious stones. The jewelry market in India has a diverse consumer base, including traditional buyers who prefer intricate designs and heavy jewelry, especially for weddings and festivals, and a growing segment of young, urban consumers who prefer contemporary jewelry.

Market segmentation:

The bridal jewelry market comprises heavy pieces that weigh 30 gm -250 gm. The bridal jewelry segment in India is predominantly composed of 22-carat gold and features traditional designs such as necklaces, chokers, haars (long chains), and complete jewelry sets, along with accessories like maang teekas. Weddings and festivals are the primary occasions driving jewelry purchases in the country.

The cultural significance of gold for weddings is rooted deeply in Indian traditions and norms. It continues to drive demand in the bridal segment. This trend is expected to further boost the size of the market for bridal jewelry in the coming years.

Market drivers:

The demand for jewelry, particularly gold, is deeply rooted in India's religious beliefs, traditions, and festive culture. Gifting gold jewelry during marriages is considered auspicious, making the Indian wedding market a significant driver of discretionary spending across industries like fashion, jewelry, travel, catering, and entertainment.

Rising disposable incomes, the influence of social media, and the allure of high-profile celebrity weddings have further fueled lavish spending on wedding-related purchases, including jewelry. The growing trend of extravagant wedding ceremonies and celebrations is expected to positively impact the growth of the bridal jewelry market.

Key deterrents to the growth of the market:

Jewelry purchases are high-value transactions often considered long-term investments. Fair pricing, trust, and transparency are critical factors influencing purchase decisions. Consumer trust remains a critical issue, particularly regarding gold purity and pricing transparency.

Many jewelers have adopted certification standards like BIS hallmarking to address this concern. However, challenges persist in smaller markets where unorganized players dominate. Reports show that uncertified gold jewelry still circulate widely, diminishing buyer confidence.


Key Topics Covered:

Chapter 1: Executive Summary

Chapter 2: Socio-Economic Indicators

Chapter 3: Introduction
3.1. Market definition and structure

Chapter 4: Market Overview
4.1. Jewelry Market in India Overview
4.2. Market Size and Growth Forecast Based on Value (FY 2022 - FY 2029e)
4.3. Current Market Scenario
4.4. Impact of Net Exports and Imports on the Indian Jewelry Market

Chapter 5: Market Segmentation
5.1. Indian Jewelry Market Segmentation - Value Based on Occasions
5.2. Bridal Jewelry Market - Size and Growth Forecast (FY 2022 - FY 2029e)
5.3. Daily Wear Jewelry Market - Size and Growth Forecast (FY 2022 - FY 2029e)
5.4. Fashion Jewelry Market - Size and Growth Forecast (FY 2022 - FY 2029e)
5.5. Indian Jewelry Market Segmentation - Value Based on Retail Channels
5.6. Organized Retail Market - Size and Growth Forecast (FY 2022 - FY 2029e)
5.7. Unorganized Retail Market - Size and Growth Forecast (FY 2022 - FY 2029e)

Chapter 6: Market Influencers
6.2. Market drivers
6.2. Market challenges

Chapter 7: Government Initiatives
7.1. Key Government initiatives

Chapter 8: Market Trends
8.1. Market trends

Chapter 9: Trade Analysis
9.1. Trade analysis

Chapter 10: Competitive Landscape
10.1. Kalyan Jewellers Limited
10.2. PC Jeweller Limited
10.3. Tribhovandas Bhimji Zaveri Limited
10.4. Bhima Jewellers (Bhima Group)
9.5. BlueStone Jewellery and Lifestyle Private Limited
9.6. CaratLane Trading Company Limited
9.7. Joyalukkas India Private Limited
9.8. Malabar Gold & Diamonds (Malabar Group)
9.9. Reliance Jewels (Reliance Retail Ventures Limited)
9.10. Tanishq (Titan Company Limited)

Chapter 11: Recent Developments

For more information about this report visit https://www.researchandmarkets.com/r/v9qs2i

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

CONTACT: CONTACT: ResearchAndMarkets.com 
         Laura Wood, Senior  Press Manager 
         press@researchandmarkets.com
         For E.S.T Office Hours Call 1-917-300-0470 
         For U.S./ CAN Toll Free Call 1-800-526-8630 
         For GMT Office Hours Call +353-1-416-8900