Golden opportunity: Declining gold and silver prices have boosted demand for jewellery

The Jewellery Manufacturing industry has benefited from favourable trading conditions over the past five years, compared with most other Australian manufacturing industries, which are in a general stage of decline. Steep declines in the world prices of gold and silver, two key raw materials for many industry products, have allowed industry firms to lower their prices, boosting demand from wholesalers, retailers and final consumers. Growing real household discretionary income has provided consumers with more money to spend on non-essential items such as jewellery products. This trend has increased demand for expensive custom-made or handmade jewellery, as consumers have been willing to pay premium prices for high-quality and personalised fine more.

Industry Statistics & Market Size
Annual Growth 13-18
Forecast Growth 18-23
Market Share of Companies

Industry Threats & Opportunities

  • Costume jewellery manufacturers have faced increasing competition from foreign manufacturers
  • Demand for custom-made jewellery has risen, boosting revenue growth for niche operators
  • Fierce competition from foreign manufacturers is likely to continue over the next five years
  • Industry Report - Industry Locations Chapter

    Operators in the Jewellery Manufacturing industry are predominantly based in the eastern states of Australia, with nearly 80% of enterprises located in New South Wales, Victoria and Queensland. The high concentration is reflective of the population spread throughout Australia, and is where most retail activity takes place. Most industry manufacturers are located in these states due to their proximity to downstream retailers and wholesalers, which lowers transport costs and keeps prices competitive. In addition, as the industry relies heavily on international trade to generate revenue, it is advantageous for jewellers to be close to ports and airports to reduce logistical and freight costs. International tourist numbers also aid jewellery sales, and are highest in the eastern states...purchase to read more.

    Additional Insights for the Jewellery Manufacturing Industry

    IBISWorld has determined the most important Key Success Factors for the Jewellery Manufacturing are:

  • Marketing of differentiated products
  • Access to highly skilled workforce
  • Having an extensive distribution/collection network
  • IBISWorld analysts also discuss how external factors such as World price of gold and World price of silver in the Jewellery Manufacturing industry impact industry performance..

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    What's in this report

    What is the Jewellery Manufacturing Industry?

    Industry operators manufacture jewellery or silverware using precious or semi-precious metal and stones. Products include fine jewellery, costume jewellery, badges and medals. Operators may also mint coins; cut diamonds and gems; and manufacture, engrave, chase or etch jewellery or precious metal. These products are sold to wholesalers and, sometimes, directly to retailers.

    Industry Products
  • Fine jewellery
  • Other products
  • Costume jewellery
  • Diamond and gem cutting
  • Coin minting
  • Industry Activities
  • Jewellery
  • Coin minting
  • Diamond and gem cutting
  • Custom-made jewellery
  • Costume jewellery
  • Badge and medal
  • Silverware and trophy
  • Lapidary work
  • Goldsmithing
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • World price of gold
  • World price of silver
  • Real household discretionary income
  • Demand from watch and jewellery retailing
  • Trade-weighted index

  • Current Performance
  • Chart: Revenue Growth

  • Industry Outlook
  • Table: Jewellery Manufacturing Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Jewellery Manufacturing Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Jewellery and Watch Wholesaling
  • Department Stores
  • Watch and Jewellery Retailing

  • Key Selling Industries
  • Copper, Silver, Lead and Zinc Smelting and Refining
  • Diamond and Gemstone Mining
  • Gold and Other Non-Ferrous Metal Processing

  • Products & Services
  • Fine jewellery
  • Diamond and gem cutting
  • Coin minting
  • Costume jewellery
  • Other products
  • Chart: Jewellery Manufacturing Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Wholesalers
  • Jewellery retailers
  • Final customers
  • Department stores
  • Other
  • Chart: Major Market Segmentation for the Jewellery Manufacturing Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Purchases
  • Wages
  • Other
  • Chart: Cost Structure Benchmarking – Sector vs Jewellery Manufacturing

  • Basis of Competition
  • Internal competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Jewellery Manufacturing Industry

  • Industry Globalization
    Gold Corporation,
  • Table: Gold Corporation - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Jewellery Manufacturing Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Jewellery Manufacturing Industry
  • Industry Revenue (2009-2023)
  • Industry Gross Product (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Exports (2009-2023)
  • Imports (2009-2023)
  • Wages (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Bullion Coins
  • Precious metal coins that are kept as an investment, which are valued based on purity levels.
  • Costume Jewellery
  • Jewellery that is made of less precious stones and metals, and is cheaper to buy than fine jewellery.
  • Cut
  • The angles and proportions created in transforming a rough diamond into a polished diamond. A well-cut diamond is more valuable than one that is not well cut.
  • Lapidary
  • The process of carving, cutting and faceting gemstones and other materials into jewellery and decorative items. This excludes diamonds, as they require specialised tools and techniques.
  • Numismatic Coins
  • Collectible coins that have a higher value than their face value, due to low circulation, rarity or other value-added features.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Jewellery Manufacturing market research report offers insightful industry analysis and research into the market at the national level. IBISWorld’s in-depth industry market research is presented in a logical and consistent format. The industry report contains key industry statistics, market size, industry trends, and growth and profit forecasts for a 5-year outlook period.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Jewellery Manufacturing:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Jewellery Manufacturing market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Jewellery Manufacturing, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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