United Kingdom Jewellery Market Size, Share, and COVID-19 Impact Analysis, By Product (Necklace, Ring, Earrings, Bracelet, and Others), By Material (Gold, Platinum, Diamond, and Others), and United Kingdom Jewellery Market Insights, Industry Trend, Forecasts to 2035.

United Kingdom Jewellery Market Insights Forecasts to 2035

• The United Kingdom Jewellery Market Size was estimated at USD 778.19 Million in 2024
• The Market Size is Expected to Grow at a CAGR of around 4.90% from 2025 to 2035
• The United Kingdom Jewellery Market Size is Expected to Reach USD 9,740.32 Million by 2035

According to a research report published by Spherical Insights & Consulting, The United Kingdom Jewellery Market Size is Anticipated to reach USD 9,740.32 Million By 2035, Growing at a CAGR of 4.90% from 2025 to 2035. The key drivers driving the market are the growing demand for jewellery among individuals, shifting consumer preferences and trends, and numerous technological breakthroughs.

Market Overview

The United Kingdom jewellery market refers to the marketplace focused on the production, distribution, and sale of jewellery for aesthetic purposes. They are mostly popular for ornamental objects worn for individual embellishment. They include a wide range of accessories made from gemstones, precious metals, and other materials are included in this general word. It comprises pieces like bracelets, necklaces, rings, earrings, and brooches that are made with metalworking, stone setting, enamelling, and filigree techniques. Additionally, gemstones like diamonds, rubies, emeralds, and sapphires provide the product colour and brightness, while precious metals like gold, silver, and platinum are frequently utilised as the basic material. It might be worn as a sentimental token, a symbol of riches or high authority, or as a way to express. The market-wide adoption is driven by globalisation and trade for ornaments and growing fashion sense among consumers, especially among women. Concurrently, the recent development and encouraging steps by local business firms boost the market expansion, like in September 2021, Hot Diamonds teamed up with Jacqueline Jossa to launch an exclusive jewellery collection, (Hot Diamonds x Jacqueline Jossa). The collaboration featured 75 pieces, including necklaces, chokers, bracelets, rings, earrings, and ear cuffs, designed for layering and mixing. Each piece had been crafted from 925 sterling silver with 18ct gold plating, and some had featured Mother of Pearl and Malachite.

Report Coverage

This research report categorizes the market for the United Kingdom jewellery market based on various segments and regions and forecasts revenue growth and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the United Kingdom jewellery market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the United Kingdom jewellery market.

Driving Factors

The market for United Kingdom jewellery is primarily driven by the rising demand for fine and intricate jewellery. In addition, the rising disposable income and the growing fashion sense have driven the market expansion. The availability of fashionable plated alloys and crystal stones through online platforms is influencing the market development. Moreover, manufacturers are actively using digital marketing to promote their products, create brand awareness, and long-term relationships with old customers, representing another major growth-inducing factor. Furthermore, international retail groups are acquiring local brands to expand their consumer base and increase market share.

Restraining Factors

The price volatility of raw materials, the stringent laws governing the import and export of ornamental items. Besides, high VAT rates and rising gold prices have caused pain to the wholesale industry and put more short-term pressure on the company's operations and earnings which slows down the market growth.

Market Segmentation

The United Kingdom jewellery market share is classified into product, and material.

• The ring segment held the highest share in 2024 and is anticipated to grow at a substantial CAGR over the forecast period.

The United Kingdom jewellery market is segmented by product into necklace, ring, earrings, bracelet, and others. Among these, the ring segment held the highest share in 2024 and is expected to grow at a substantial CAGR over the forecast period. This is due to they are frequently connected to weddings, engagements, and other significant events, rings have a special meaning with an emotional bond. In addition, rings come in a wide range of styles, materials, and gemstone choices to suit a wide range of customer tastes. In addition, the growing trend of customisation enables customers to design their own distinctive and customised rings, which boosts segment development.

• The diamond segment held a significant share in 2024 and is expected to grow at a rapid pace during the forecast period.

The United Kingdom jewellery market is segmented by material into gold, platinum, diamond, and others. Among these, the diamond segment held a significant share in 2024 and is expected to grow at a rapid pace during the forecast period. This is because of their strength, longevity, and effectiveness; they are well-liked by customers and are frequently considered a priceless family heritage. Moreover, the capacity of a diamond to refract and reflect light is what gives it its shine and other properties, symmetry, polish, and final cut grade, which make them customizable.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the United Kingdom jewellery market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Burns Jewellers
• Pandora
• Alyssa Smith Jewellery
• Harkness Premier Jewellers
• Honey Willow
• Roxanne First
• Others

Recent Developments:

• In May 2025, Hammerson partnered with Jewells to launch its first-ever stores across the UK. The jewellery brand opened four locations in Hammerson’s retail destinations, starting with Westquay in Southampton and The Oracle in Reading in May, and followed by Bullring Birmingham and Brent Cross in London in June. Jewels specialise in demi-fine jewellery, crafted from gold, silver, sustainable lab-grown diamonds, and semi-precious stones.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at United Kingdom, regional, and country levels from 2020 to 2035. Spherical Insights has segmented the United Kingdom jewellery market based on the below-mentioned segments

United Kingdom Jewellery Market, By Product

• Necklace
• Ring
• Earrings
• Bracelet
• Others

United Kingdom Jewellery Market, By Material

• Gold
• Platinum
• Diamond
• Others