Latin America Jewellery Market Report and Forecast 2024-2032

Latin America Jewellery Market Outlook

The Latin America jewellery market size was around USD 8.58 million in 2023. The market is estimated to grow at a CAGR of 6.4% during 2024-2032 to reach a value of USD 14.96 million by 2032.

Key Takeaways

• Colombia accounts for 70% to 90% of the world's emerald resources.

• Brazil is recognised as one of the significant countries for providing world-class gemstones including amethyst, ruby, citrine, diamond, sapphire, aquamarine, emerald, quartz, and topaz, among others.

• There is a presence of skilled artisans offering unique and handmade pieces of jewellery in Latin America, allowing consumers to experiment with new designs.

The rich jewellery craftsmanship in the region provides customers with pieces that cater to their preferences. Additionally, jewellery made of gold, jade, shells, and feathers holds cultural significance in the region.

In order to distinguish themselves from their competitors and attract environmentally conscious consumers, manufacturers are attempting to embrace sustainable production practices. They are also using upcycled gold and ethically sourced gemstones to enhance the sustainability of jewellery production.

Key Trends and Developments

Technological advancements; presence of abundant reserves of metals; growing sustainability concerns; and growing demand for personalised jewellery pieces are impacting the Latin America jewellery market growth

Latin America Jewellery Market Trends

The popularity of online shopping in Latin America is rising, owing to a surge in usage of smartphones, increased internet penetration, and growth in personal income. The expanding e-commerce and online shopping sector helps jewellery manufacturers reach a wider audience beyond their geographical boundaries.

Consumers are increasingly seeking unique and personalised jewellery options that meet their individual needs and taste. The customised jewellery trend is further receiving a boost as consumers get influenced by celebrities wearing jewellery with engraved names and charms. By offering an option to customise jewellery, small businesses can increase their market share.

Consumers across Latin American countries, such as Brazil, are increasingly becoming conscious of the environmental and social impact of their jewellery. As a result, jewellery companies that adopt sustainable practices, such as using upcycled gold and ethically sourced gemstones, can differentiate themselves and attract eco-conscious consumers.

Market Segmentation

“Latin America Jewellery Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

Based on material type, gold dominates the Latin America jewellery market share, supported by its durability and high market value

Gold is widely used in making jewellery and is often considered an investment due to its durability and high market value. It can also be handed down to the next generation without facing depreciation.

Gold is resistant to corrosion, rust, and tarnish, which makes it a highly reliable material for making jewellery.

Sterling silver or 925 silver is commonly used for making silver jewellery. It has 92.5 percent pure silver content, and the remaining 7.5 percent is usually copper, though other metals like nickel can also be used. The addition of copper to silver makes it harder and hence easier to work with, without compromising on its brightness.

Based on product, necklace/neck pieces account for a significant share of the Latin America jewellery market

The jewellery market has embraced 3D printing, with which jewellery production has become much more affordable. This technology enables jewellers to produce custom pieces with ease and allows for intricate and detailed designs beyond traditional methods.

CAD/CAM systems enable jewellers to create unique designs and efficiently mass-produce jewellery that would otherwise be more time-consuming. The technology helps boost productivity and meet the demand for customised pieces, revolutionising the process of jewellery making and making it more efficient.

Competitive Landscape

To establish a unique position in the market, players employ strategies focused on brand awareness, marketing, and distribution

Other notable players operating in the Latin America jewellery market include Pandora A/S, Morana, HStern Indústria e Comércio SA, Swarovski Group, and Pepe Dominguez Silver Jewelry, among others.

Latin America Jewellery Market Analysis by Country

Brazil is the largest diamond producer in Latin America, with the Braúna mine being the country’s biggest diamond mine. It is also a significant market for fine jewellery with a significant population having more income levels than other Latin American countries. Brazilian jewellery designers combine coloured stones, especially pastel gemstones such as blue topaz, to create attractive pieces of jewellery. Fashionable jewellery, such as dangling earrings, and jewellery that blends with nature are also very popular among Brazilian women.

Argentina is home to several fashion silver jewellery stores, offering diverse designs of necklaces, bangles, bracelets, and earrings.  Additionally, Argentina is known for its finest silver globally, hence manufacturers procure high-quality silver from the country to manufacture 925 sterling silver, which is further used in jewellery and decorative items.

Key Highlights of the Report

Our Best Selling Reports

Latin America Protein Supplement Market

Latin America PVC Pipes Market

Logistics Market

Machining Centres Market

Middle East Copper Rod and Busbar Market

Netherlands Rainwater Harvesting Market

Over The Top (OTT) Market

Pallet Market

peptone market

Polybutadiene Market

Latin America Jewellery Market Report Snapshots

Latin America Jewellery Market Size

Latin America Jewellery Market Trends

Latin America Jewellery Market Share

Latin America Jewellery Companies

Latin America Jewellery Market Regional Analysis