UK Jewelry Market

UK Jewelry Market Segment Insights

Jewelry by Product Types Insights

Based on product type, the UK Jewelry Market has been segmented into Magnetic Jewelry & Wellness Inspired Jewelry. The Magnetic Jewelry segment accounted for the largest market share in 2024 and is likely to register a CAGR of 5.21% during the projected period. Whereas the Wellness-Inspired Jewelry segment will likely register the highest CAGR of 5.94% during the forecast period. Magnetic jewelry has carved a unique niche in the UK market by combining fashion with potential wellness benefits. This segment has gained popularity due to the growing consumer interest in alternative therapies and holistic well-being, with many people drawn to magnetic jewelry for its believed health benefits, such as pain relief, improved circulation, and reduced inflammation. 

Although scientific evidence supporting these claims is still inconclusive, the perception of therapeutic advantages has contributed to increased demand, particularly among health-conscious individuals, older demographics, and those with chronic conditions like arthritis. The magnetic jewelry segment includes a variety of products such as bracelets, rings, necklaces, and anklets, each incorporating small magnets thought to interact with the body’s natural magnetic field to promote wellness. The UK market for magnetic jewelry has expanded as more consumers seek non-invasive, drug-free solutions for pain management.

Jewelry by Material Type Insights

Based on the material type, the UK Jewelry Market has been segmented into Metals, Natural Elements, Synthetic Material, Mixed Media Jewelry. The Metal segment accounted for the largest market share of 54.68% in 2023 and is likely to register a CAGR of 4.70% during the projected period. Metal is a cornerstone material in the UK jewelry market, playing a significant role across both traditional and wellness-inspired segments, including magnetic jewelry. Its versatility, durability, and aesthetic appeal make it a popular choice for a wide range of jewelry designs, from luxury pieces to functional wellness accessories. 

In the context of magnetic and wellness-inspired jewelry, metal not only enhances the visual appeal of pieces but also serves a practical purpose, particularly in therapeutic applications where the material’s properties, such as magnetism or conductivity, can have an impact on the wearer’s experience. In magnetic jewelry, metals such as stainless steel, titanium, copper, and even silver are often combined with powerful magnets to create pieces that are both functional and fashionable. Stainless steel is particularly popular due to its strength, corrosion resistance, and ability to hold magnets securely.

Jewelry by Gender Insights

Based on the gender, the UK Jewelry Market has been bifurcated into Women, Men, Unisex. The women segment accounted for the largest market share of 69.43% in 2023 and is likely to register a CAGR of 4.97% during the projected period. Whereas the Unisex segment will likely register a CAGR of 6.47% during the projected period. The women’s jewelry segment remains the dominant force in the UK jewelry market, driven by a combination of tradition, evolving fashion trends, and a strong cultural connection to personal expression through adornment. Women have long been the primary consumers of jewelry, using it not only as a fashion accessory but also as a statement of identity, status, and personal style.

In the UK, the demand for women’s jewelry spans a wide range of categories, from classic pieces like rings, necklaces, and bracelets to more modern and unique designs that incorporate alternative materials, wellness elements, and customizable options. The UK market is characterized by diverse consumer preferences, where women gravitate towards jewelry that reflects their individuality. For some, timeless luxury items, such as diamond rings, gold necklaces, and pearl earrings, continue to be highly sought after, while others are more drawn to contemporary designs that incorporate metals like titanium or stainless steel, or wellness-inspired pieces that feature healing crystals or aromatherapy elements.

Jewelry by Usage Insights

Based on the usage, the UK Jewelry Market has been bifurcated into Daily Wear Jewelry, Occasional Jewelry, Therapeutic Jewelry. The Occasional Jewelry segment accounted for the largest market share of 59.69% in 2023 and is likely to register a CAGR of 4.81% during the projected period. Whereas the Therapeutic Jewelry segment will likely register a CAGR of 8.11% during the projected period. Occasional jewelry plays a crucial role in the UK jewelry market, catering to consumers who seek special, statement-making pieces for significant events and celebrations. Unlike daily wear jewelry, occasional jewelry is designed to make an impact, adding a touch of glamour and sophistication to formal and festive occasions. 

This segment includes jewelry for events such as weddings, anniversaries, parties, galas, and other milestone celebrations, where individuals look for accessories that complement their outfits and enhance their overall appearance. The demand for occasional jewelry is driven by the desire to stand out during important events, with consumers seeking pieces that offer both luxury and individuality. In the UK, the occasional jewelry market has seen a shift towards more personalized and custom-made designs, reflecting the growing trend of individuality and self-expression. Consumers are increasingly opting for unique, one-of-a-kind pieces that reflect their personal style and the significance of the occasion.

Jewelry by Distribution Channel Insights

Based on the distribution channel, the UK Jewelry Market has been bifurcated into Online & Offline. The offline segment accounted for the largest market share of 73.49% in 2023 and is likely to register a CAGR of 4.71% during the projected period.  The offline channel remains a crucial element of the jewelry market in the UK, offering customers a tactile and personal shopping experience that e-commerce platforms cannot replicate. Traditional brick-and-mortar stores, department stores, and jewelry boutiques continue to hold strong appeal for consumers seeking a more interactive and sensory retail experience. 

One of the main advantages of the offline channel is the ability for customers to physically see, touch, and try on jewelry before making a purchase. This is particularly important for high-value items such as engagement rings, wedding bands, and luxury watches, where consumers want to feel confident in their investment. Jewelry stores in prominent locations, such as high streets, shopping malls, or luxury shopping districts, allow brands to create immersive and polished shopping environments that highlight their unique designs and craftsmanship. The in-store experience provides an opportunity for personal interaction with knowledgeable sales associates who can offer expert advice, answer questions, and assist with customization requests.

FIGURE 2: UK JEWELRY MARKET SHARE BY DISTRIBUTION CHANNEL 2024 AND 2035 (USD BILLION)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review