Europe: Jewelry Market 2024

Jewelry Market Size in Europe

In 2021, the Europe jewelry market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, consumption, however, showed a mild decline. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Jewelry Production in Europe

In value terms, jewelry production skyrocketed to $X in 2021 estimated in export price. In general, production showed a slight expansion. The pace of growth was the most pronounced in 2017 with an increase of 70% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2021, production growth remained at a lower figure.

Jewelry Exports

Exports in Europe

In 2021, after two years of decline, there was growth in shipments abroad of jewelry, when their volume increased by 3.9% to X tons. Overall, exports, however, saw a noticeable decline. The growth pace was the most rapid in 2014 with an increase of 7.7% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, jewelry exports surged to $X in 2021. The total export value increased at an average annual rate of +2.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of export peaked at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

In 2021, Italy (X tons) and Spain (X tons) were the key exporters of jewelry in Europe, together amounting to near 49% of total exports. France (X tons) ranks next in terms of the total exports with a 12% share, followed by the UK (7.8%), Belgium (7.7%) and Germany (6.3%). The Netherlands (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were in Belgium (with a CAGR of +36.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest jewelry supplying countries in Europe were Italy ($X), France ($X) and the UK ($X), with a combined 51% share of total exports. These countries were followed by Germany, Spain, Belgium and the Netherlands, which together accounted for a further 8.3%.

In terms of the main exporting countries, Belgium, with a CAGR of +8.5%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Europe stood at $X per kg in 2021, rising by 28% against the previous year. Export price indicated a buoyant increase from 2012 to 2021: its price increased at an average annual rate of +6.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, jewelry export price decreased by -1.0% against 2019 indices. The level of export peaked at $X per kg in 2019; afterwards, it flattened through to 2021.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was France ($X per kg), while Spain ($X per kg) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+5.9%), while the other leaders experienced more modest paces of growth.

Jewelry Imports

Imports in Europe

Jewelry imports declined to X tons in 2021, with a decrease of -8.2% compared with the previous year. Over the period under review, imports recorded a deep setback. The most prominent rate of growth was recorded in 2016 when imports increased by 21% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, jewelry imports amounted to $X in 2021. Total imports indicated mild growth from 2012 to 2021: its value increased at an average annual rate of +1.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -31.0% against 2019 indices. The growth pace was the most rapid in 2018 with an increase of 24% against the previous year. The level of import peaked at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, the UK (X tons), France (X tons), Spain (X tons), Germany (X tons), Italy (X tons), Belgium (X tons), the Netherlands (X tons), Sweden (X tons), Ireland (X tons), Switzerland (X tons), Poland (X tons) and Norway (X tons) represented the main importer of jewelry in Europe, generating 90% of total import.

From 2012 to 2021, the biggest increases were in Sweden (with a CAGR of +17.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Switzerland ($X) constitutes the largest market for imported jewelry in Europe, comprising 37% of total imports. The second position in the ranking was held by France ($X), with a 16% share of total imports. It was followed by the UK, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Switzerland was relatively modest. In the other countries, the average annual rates were as follows: France (+8.3% per year) and the UK (-4.4% per year).

Import Prices by Country

In 2021, the import price in Europe amounted to $X per kg, growing by 17% against the previous year. Overall, the import price enjoyed a resilient increase. The growth pace was the most rapid in 2018 an increase of 36% against the previous year. Over the period under review, import prices hit record highs in 2021 and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Switzerland ($X per kg), while Sweden ($X per kg) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ireland (+30.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform