China has become the second-largest Jewelry Market after the United States

ReportsnReports adds a new report “Research and Development Forecast of China’s Jewelry Industry, 2013-2017″ to is vast collection of research database.

The study main analyzes the market scale, market competition status, import and export situation, business performance of key enterprises. forecast of future jewelry industry. Decision-making reference is provided in the report.

With the rapid development of the jewelry market, China has become the second-largest jewelry market after the United States. The consumption of some important jewelry products ranks among the top of the world.

Under the impact of the international financial crisis and the downward pressure from the domestic economy, in 2012, the growth of China’s jewelry industry slowed down, but still maintained a good development trend. The total sales revenue of jewelry retail market was CNY 400 billion, showing a slight increase over last year. 

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In 2012, the total consumption of gold jewelry was 502.75 tons, having a year-on-year growth of 10.09%. In 2011, the consumption of platinum jewelry was 52.4 tons, accounting for 68.3% of the global total consumption of platinum jewelry. In 2011, the total consumption of diamond jewelry was more than CNY25 billion, surpassing Japan for the first time, and ranking the second in the world; China is the world’s largest jade processing and consuming country, the annual consumption of jade is more than CNY20 billion; the annual production of pearl is about 1,400 tons, accounting for more than 95% of the world annual production of pearl.

At present, China’s jewelry industry is in a stage of rapid development. There is no one brand occupying absolute market share; market concentration ratio is low.

The main jewelry brands are Cartier, Bulgari, Tiffany, and some other world’s top brands. CHOW TAI FOOK, TSL JEWELLERY in Hong Kong, LAO FENG XIANG, CHJ and some other brands occupy the leading position in the domestic market. Besides, Diamend in Beijing, Cuihua in Shenyang and some other regional brands have a certain degree of competitive advantage in their own advantageous regions.

With the diversification of jewelry consumption, the jewelry market is constantly divided into more market segments, the brands are enriched, and the intrinsic quality is also improved. Gold, platinum, diamond jewelry and colored gemstones, jade, silver jewelry show their charm in the market, especially gold, platinum, diamond jewelry have huge development potential. The consumption of diamond is growing at the annual rate of 15% in China.

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