Pearl jewelry market seen reaching $42 billion by 2031

Allied Market Research projects the pearl jewelry market will rise from $12.8 billion in 2021 to $42 billion by 2031, driven by growing fashion demand, celebrity influence and wider online sales. Cultured pearls, necklaces and Asia-Pacific led the market in 2021, while rings, online channels and Europe are forecast to grow fastest.

Why it matters: - Pearl jewelry is moving from a niche category into a broader fashion accessory market. - The forecast signals rising demand across products, channels and regions, even as cultured pearl skepticism remains a restraint. - The report points to a market that is expanding because consumers want distinctive jewelry that fits changing style preferences.

What happened: - Allied Market Research said the global pearl jewelry market was valued at $12.8 billion in 2021. - The market is projected to reach $42 billion by 2031, implying a 13.2% CAGR from 2022 to 2031. - The report covers necklaces, earrings, rings and other pearl jewelry items. - The study also breaks the market down by material, pearl nature, pearl source, distribution channel and region. - Sample PDF of the report is available online. - Purchase inquiry is also available.

The details: - Necklaces held the largest share in 2021, capturing almost half of global revenue. - Rings are projected to grow at a 13.8% CAGR during the forecast period. - Silver led the material segment in 2021, contributing nearly half of global revenue. - The “others” material category is expected to post the fastest growth. - Cultured pearls accounted for the largest share in 2021 and are expected to keep dominating the market. - Freshwater pearls held the largest share in 2021, while saltwater pearls are expected to post the strongest CAGR. - Offline channels held the largest share in 2021, but online sales are expected to grow faster because of convenience and wider product selection. - Asia-Pacific accounted for more than two-fifths of global revenue in 2021. - Europe is projected to record the fastest CAGR at 14.2% from 2022 to 2031. - The report lists key players including K. Mikimoto & Co., Ltd., T&CO., Isle of Wight Pearl, Pearl Paradise, Kailis, Jewelmer, CPI Luxury Group Assael, TASAKI & Co., Ltd., Pearl Falco, Wing Wo Hing Jewelry Group, Akuna Pearls, Pearl Jewelry Ito, Inc., Aquarian Pearls, Pearls of Australia and Palas Emporio Pty Ltd.

Between the lines: - Cultured pearls are the core of the market because they are more widely available and less expensive than natural pearls. - The market still faces a perception problem, as some buyers confuse cultured pearls with imitation pearls. - Pearl jewelry is getting a lift from fashion shows, celebrity endorsements and social media visibility. - Younger shoppers are broadening demand, and men are increasingly wearing pearl jewelry, especially necklaces and rings. - The channel mix is shifting, with online sales positioned to gain share as assortment and shopping ease improve.

What's next: - The market’s biggest growth areas appear to be rings, online sales, saltwater pearls and Europe. - Cultured pearl supply and environmental constraints could remain important limits on growth. - Manufacturers are likely to keep leaning on celebrity partnerships and new styles to expand demand.

The bottom line: - Pearl jewelry is on track for steady double-digit growth through 2031, with cultured pearls still leading the category while newer styles and digital sales channels open the next phase of expansion.