Summary of Research Findings

In 2025, the size of the jewelry retail market in Japan is forecast to reach 1.2070 trillion yen, 106.8% of the size of the previous year.
The Japanese economy remains uncertain due to geopolitical instability, including Russia's invasion of Ukraine, the Israel-Gaza conflict, and Trump's tariffs. These factors have caused gold prices to surge, a trend expected to continue beyond 2025. With platinum prices also rising, jewelry dealers and retailers face constant price adjustments. As the unit price of these products increases, the jewelry retail market is expected to grow.
In addition to price rise, growing demand for low-price jewelry from general consumers (other than affluent population) and a slight increase in marrying couples, which is leading to a recovery of the bridal jewelry market, are also causing robust demand for jewelry overall.
*Source: Vital Statistics by the Ministry of Health, Labour and Welfare.

Noteworthy Topics

Robust Demand for Bridal Jewelry Despite Price Rise

Following the trend from the previous year, the average price of bridal rings have surged in 2024.
The average price of engagement rings increased from 304,000 yen in 2023 to 318,000 yen in 2024 (the preliminary figure), with both figures exceeding 300,000 yen. The average per-person price of wedding rings increased from 76,000 yen in 2019 to 116,000 yen in 2023, reaching 133,000 yen in 2024.
Couples seem to consider rings are a necessity, so bridal rings tend to be purchased despite the price increase. Consequently, in 2024, the unit price of engagement rings increased by 4.6% year over year, while the unit price of wedding rings increased by 14.7% year over year.  

Research Outline