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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Mexico Jewellery Market Share
Based on type, necklace accounts for a significant share of the market
Necklaces are highly popular in Mexico, serving as both fashion statements and cultural symbols. Traditional Mexican necklaces may feature religious motifs, such as crosses or icons of saints, as well as indigenous designs inspired by Aztec or Mayan art. However, as per Mexico jewellery market analysis, Mexican engagement rings are becoming more widely profiled and have detailed engravings all the way around the band.
Based on material, gold is a major contributor to the market revenue
Mexico ranks as the sixth-largest producer of gold globally. Ahead of Mexico in gold production are China, Russia, Australia, Canada, and the United States. In 2024, Mexico is set to witness the commencement of operations in several gold mines, which include Media Luna, Cerro de Oro, Cerro Caliche, and Terronera mines. This can increase gold’s overall Mexico jewellery market share.
Additionally, Mexico is highly dependent upon imports of diamonds from the USA to meet domestic demand, particularly for use in jewellery manufacturing and retail, facilitated by various factors including geographic proximity, and established trade relations. Further, the growing spending on luxury products, including jewellery is expected to boost the demand for diamond jewellery in the country.
Mexico Jewellery Market Report Snapshots
Mexico Jewellery Market Growth
Mexico Jewellery Market Trends
Mexico Jewellery Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The Mexico jewellery market reached a value of USD 2,010.4 million in the year 2023.
The market is estimated to grow at a CAGR of 6.5% during 2024-2032.
The jewellery market in Mexico is estimated to reach a value of USD 3,518.5 million by 2032.
Mexico is known for its production of silver jewellery, particularly in the town of Taxco. Other popular types include jewellery featuring precious and semi-precious stones, beads, shells, and intricate craftsmanship like filigree work and repoussé techniques.
Key drivers include rising incomes and purchasing power, growing demand for luxury jewellery like diamonds, and the increasing popularity of online jewellery sales, especially among younger consumers.
Trends include genderless jewellery designs, strong competition for diamonds from other gemstones, and growing demand for customised and exclusive jewellery pieces.
Men and women are the end users in the market.
The key regional markets for jewellery are Baja California, Northern Mexico, The Bajío, Central Mexico, Pacific Coast, and Yucatan Peninsula.
The product types include necklaces, rings, earrings, and bracelet, among others.
The materials are platinum, gold, and diamond, among others.
The key players in the market include Pandora A/S, HStern Indústria e Comércio SA, LVMH Moët Hennessy Louis Vuitton SE, Compagnie Financière Richemont SA, Joyería TOUS, S.A, Swarovski International Holding AG, Sabelli S.A. de C.V, Pepe Dominguez Silver Jewelry, Zanfeld S.A de C.V, Haramara Jewelry, and Fonelli, S.A de C.V, among others.
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Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124