Tarnished: Strong competition from foreign manufacturers has taken the shine off revenue

The Jewellery Manufacturing industry has struggled over the past five years, in line with most other Australian manufacturing industries, which are in a general stage of decline. Overseas firms, particularly producers of costume jewellery, operate with significantly lower wage costs and overheads, allowing them to offer very competitive prices. Consequently, numerous domestic costume jewellery manufacturers have either shifted their operations overseas to capture cost savings or exited the industry. This trend has decreased export activity and dampened industry revenue over the past five years. As a result, industry revenue is expected to decrease at an annualised 2.5% over the five years through 2018-19, to $2.0 billion...read more.

Industry Statistics & Market Size
Revenue
$2bn
Annual Growth 14-19
-2.5%
Forecast Growth 19-24
Profit
Employment
3,880
Businesses
1,377

Industry Threats & Opportunities

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

    The Jewellery Manufacturing industry is in the mature stage of its economic life cycle. Industry value added, a measure of the industry's contribution to the overall economy, is forecast to decline at an annualised 0.2% over the 10 years through 2023-24. This represents an underperformance of the wider economy, with real GDP projected to grow at an annualised 2.7% over the same period. This indicates that the industry is falling as a share of the economy, which is attributable to the industry's inability to remain price-competitive against low-cost foreign manufacturers.Industry operators engage in a range of activities, which prompts industry saturation. Add...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
  • Revenue and profitability
  • Foreign fortunes
  • Personalised products
  • Chart: Revenue Growth

  • Industry Outlook
  • Revenue and profitability
  • International trade
  • Changing preferences
  • 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
  • Coin minting
  • Diamond and gem cutting
  • Costume jewellery
  • Other products
  • Chart: Jewellery Manufacturing Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Wholesalers
  • Jewellery retailers
  • Final customers
  • Other markets
  • Department stores
  • 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
  • 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, Royal Australian Mint,
  • Table: Gold Corporation - financial performance
  • Table: Royal Australian Mint - 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
    Includes:
  • Industry Revenue (2010-2024)
  • Industry Gross Product (2010-2024)
  • Establishments (2010-2024)
  • Businesses (2010-2024)
  • Employment (2010-2024)
  • Exports (2010-2024)
  • Imports (2010-2024)
  • Wages (2010-2024)
  • Wages (2010-2024)
  • Purchases (2010-2024)
  • Profit (2010-2024)
  • Depreciation (2010-2024)
  • Rent (2010-2024)
  • Utilities (2010-2024)
  • Other (2010-2024)

  • 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 provides the latest industry statistics and industry trends, allowing you to identify the products and customers driving revenue growth and profitability. The industry report identifies the leading companies and offers strategic industry analysis of the key factors influencing the market.

    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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