Current news and market analysis indicate that the jewellery market in 2025 is being shaped by major trends in sustainability, technology, and shifting consumer preferences, especially among younger buyers. The rise of lab-grown diamonds and a rebound in consumer demand, particularly in Asia, are key market drivers, even as the industry faces economic challenges like tariffs. 

Market performance and drivers

  • Strong export growth: Despite global challenges, the Indian gem and jewellery sector has seen positive export growth. The Gem and Jewellery Export Promotion Council (GJEPC) reported a 15.98% year-on-year increase in exports in July 2025, buoyed by major trade shows like the India International Jewellery Show (IIJS) and a rebound in the Hong Kong market.
  • Indian domestic outlook: India’s precious jewellery market is projected to grow at an 11–13% CAGR through 2028. Drivers include rising disposable incomes and demand for studded and daily-wear jewellery. However, the market is also reacting to high gold prices, leading some consumers to opt for lighter pieces or consolidate their purchases.
  • Global market expansion: The global jewellery market is forecast to expand, with Asia-Pacific holding the largest market share. Increased urbanization and digital penetration are making organized retail more accessible. 

Rise of lab-grown diamonds (LGDs)

  • Dominating market share: LGDs are gaining significant traction due to their affordability and ethical appeal, particularly among Millennials and Gen Z buyers. Demand for lab-grown diamond jewellery is expected to grow substantially, with one report forecasting the global market size could more than triple between 2025 and 2034.
  • Price volatility and industry response: Wholesale and retail prices for LGDs have fallen dramatically since 2018 due to mass production, according to a report from the Natural Diamond Council (NDC). In response, the Gemological Institute of America (GIA) has updated its grading approach for LGDs, using broader terms like “Premium” instead of the traditional 4Cs.
  • Investment and expansion: Investments are flowing into the LGD market. Lab-grown diamond jewellery brand Aukera, for example, raised $15 million in June 2025 for expansion. In September 2025, Indian company Goldiam International secured a $100 crore export order for LGD jewellery. 

Sustainability and ethical practices

  • Conscious luxury: Consumers are increasingly prioritizing sustainability and ethical sourcing, prompting brands to adapt. This includes using recycled materials, ethically sourced gemstones, and developing eco-friendly packaging.
  • Bio-jewellery: Bio-jewellery made from organic materials like spices is gaining momentum as a sustainable and creative alternative.
  • Consumer transparency: Ethical sourcing and supply chain transparency have become non-negotiable for many buyers. 

Design and technology trends

  • Bold statements and personalization: The market is seeing a rise in bold, geometric shapes, vibrant gemstones, and enamel work. Personalized jewellery, including custom engravings and unique creations, is also growing in popularity as a form of self-expression.
  • Mixing metals and vintage revival: Trends include the mixing of different metals for a modern look and a revival of vintage-inspired and heirloom-style pieces.
  • Tech integration: Technology is influencing both design and retail. This includes the use of 3D printing for intricate designs, virtual try-on technology for online shopping, and the potential for tech-infused wearables. 

Challenges and competitive landscape

  • US tariffs: Indian gems and jewellery exporters face challenges from new U.S. tariffs, prompting some to look for new markets in Latin America, Europe, and Southeast Asia. The Indian government is exploring support packages for affected exporters.
  • Market consolidation and expansion: Major retailers like Kalyan Jewellers and Titan are pursuing strategic expansion. Kalyan plans to open new franchise stores to reduce debt, while Titan is expanding internationally, including in Bangladesh.
  • Competition from imports: Indian fashion jewellery manufacturers are facing intense competition from cheaper imports from China, which has led to lower production and job losses in some hubs. 

Source:

GOOGLE News