The UK jewelry market size was estimated at USD 5.76 billion in 2024 and is to reach USD 9.41 billion by 2033, growing at a CAGR of 5.7% from 2025 to 2033. The market is driven by a growing preference for long-term value, ethical sourcing, and craftsmanship. Affluent Millennials and Gen Z consumers are investing in fine jewelry for aesthetics and as a form of financial security. Weddings, anniversaries, and personalized gifting also fuel demand. Lab-grown diamonds are soaring in the UK due to compelling ethical and affordability advantages. Lab-grown diamonds may not be “natural,” but they are indisputably real, sharing the same physical, chemical, and optical properties as mined stones. They are typically 20-40% cheaper than natural diamonds, allowing consumers to purchase larger or higher-quality gems for the same budget while avoiding the environmental and human rights issues associated with mining. Equipped with advanced HPHT and CVD technologies, these diamonds are indistinguishable from mined ones and are produced with a lower carbon footprint.
Investment-oriented fine jewelry is gaining momentum in the UK as consumers turn to tangible assets during economic uncertainty. Gold, platinum, and high-quality gemstones are increasingly seen as adornments and as “wearable wealth” with lasting value. In 2024, fine jewelry outperformed several other luxury assets, with prices rising over 2%. High-purity gold (22K–24K) remains popular for its liquidity and security. At the same time, rare-colored gemstones like Burmese rubies and Kashmir sapphires are being sought after for their collectible and appreciating value. This trend reflects a growing preference for timeless, value-retaining pieces that offer beauty and financial resilience.
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Key UK Jewelry Company Insights
Leading players in the UK jewelry industry include Mappin & Webb, Boodle and Dunthorne limited, Graff Diamonds Limited, De Beers Jewellers Ltd, etc. Companies actively invest in innovative design technologies, customization tools, and seamless digital experiences to enhance customer engagement and personalization. In addition, the market is witnessing the entry of major fashion and lifestyle brands, bringing strong branding capabilities and broader consumer reach. As consumer interest in jewelry continues to grow-driven by fashion trends, personalization, and gifting culture-the demand for convenient and accessible purchasing options is rising. These factors position the UK market for substantial growth in the coming years.
Research Methodology
We employ a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. We utilize a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously.
About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S. based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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