NEW YORK , July 23, 2024 /PRNewswire/ -- The jewelry market size in India is estimated to grow by USD 21.54 billion from 2023-2027, according to Technavio. The market is estimated to grow at a CAGR of 5.
54% during the forecast period. Cultural significance of jewelry is driving market growth, with a trend towards rise in online sales. However, high gold prices poses a challenge.
Key market players include ALANKEET CREATIONS LLP, Bhima And Bullion Pvt. Ltd., Derewala Industries Ltd.
, Dwarka Jewel , DWS Jewellery Pvt. Ltd., Essentials Jewelry, Gurukrupa Gems, Hari Krishna Exports Pvt.
Ltd., Joyalukkas India Ltd., Kalyan Jewellers India Ltd.
, Kanhai Jewels , Malabar Gold and Diamonds, Nsb Jewellery, PC Jeweller Ltd., Rajesh Exports Ltd., Titan Co.
Ltd., Tribhovandas Bhimji Zaveri Ltd., Vaibhav Global Ltd.
, Vivah Creation, and Padmavati Jewellery. Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report Market Driver In India , the jewelry market is witnessing a significant shift towards online sales. The convenience and wide selection of merchandise offered by e-commerce platforms have made online jewelry purchasing increasingly popular among consumers.
The COVID-19 pandemic has further accelerated this trend, as more people opt for contactless shopping. Tanishq, a leading jewelry brand, reported a 106% increase in online sales in 2020, accounting for 13% of its total sales. Competitive pricing of gold jewelry onlin.