Summary of Research Findings

The reasons are rising trend in metals continuing in 2024, weakened yen has led many market players to step into raising prices, unit purchase price is rising, and increase in inbound visitors (foreign customers), which is increasing the demand for jewelry.

The size of the jewelry market in Japan is forecast to decline to 1,051,400 million yen for 2025, 96.0% of the size of the previous year. In recent years, there has been a surge in consumption among the affluent population but continued rising commodity prices may dampen the jewelry demand from this population, causing the overall market to enter a sluggish phase once again.

Noteworthy Topics

A Sign of Recovery in Bridal Jewelry

Since the second half of 2023, there has been an auspicious sign in the bridal jewelry market. The reason is the rising selling prices caused by skyrocketing material prices. The purchase rate of wedding rings by marrying couples has exceeded 90% (estimated by Yano Research Institute), indicating that the couples are willing to buy rings regardless of the rising selling prices. In addition, since the end of the pandemic, people have become more active in going out and have more opportunities to meet their spouses, which has had a good impact on the number of couples getting married.  

On the other hand, young people have become more skeptical about the need to get married. As they review their existing lifestyles amidst the pandemic, it is possible for an increasing number of couples to choose not to get married, which make the bridal jewelry market to generate the demand.

Research Outline