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Jewellery Manufacturing in the UK Industry Data and Analysis
Over the five years through 2025-26, industry revenue is projected to rise at a compound annual rate of 2.1% to reach £1 billion. Growth has been modest because rising precious-metal costs have collided with weaker household spending. Gold prices reached record highs, lifting production costs for both bespoke and everyday pieces. The Goldsmiths’ Company reported that hallmarking volumes also fell from 8 million items in 2023 to 7.8 million in 2024, showing that domestic output softened as shoppers became more selective. Even so, revenue has held up as manufacturers leaned into personalised gifting, lighter designs and high-value custom pieces that allow jewellers to justify stronger prices. In 2025-26, revenue is expected to climb 1.1%, supported by customers who continue to prioritise sentimental, longer-lasting pieces over low-priced impulse buys.
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What's included in this industry analysis
IBISWorld's research coverage on the Jewellery Manufacturing industry in the United Kingdom includes market sizing, forecasting, data and analysis from 2015-2030. The most recent publication was released November 2025.
About this industry
What's this industry report about?
The Jewellery Manufacturing industry in the United Kingdom operates under the SIC industry code C32.120. Companies in this industry manufacture jewellery and related articles from precious or base metals clad with precious or semi-precious stones. The manufacture of goldsmiths’ articles, watch straps and cigarette cases from precious metals is also included. Repair services and the manufacture of imitation jewellery are not covered. Related terms covered in the Jewellery Manufacturing industry in the United Kingdom include re-exports, copyright, costume jewellery, pewter, crucible and electroplating .
What's included in this industry?
Products and services covered in Jewellery Manufacturing industry in the United Kingdom include Traditional and bridal jewellery, Costume jewellery and Other.
What companies are included in this industry?
Companies covered in the Jewellery Manufacturing industry in the United Kingdom include Graff Diamonds Ltd, Monica Vinader Ltd and Boodle & Dunthorne Ltd.
Performance
What's included in the Performance chapter?
The Performance chapter covers detailed analysis, datasets, detailed current performance, sources of volatility and an outlook with forecasts for the Jewellery Manufacturing industry in the United Kingdom.
Questions answered in this chapter include what's driving current industry performance, what influences industry volatility, how do successful businesses overcome volatility, what's driving the industry outlook. This analysis is supported with data and statistics on industry revenues, costs, profits, businesses and employees.
Products & Markets
What's included in the Products and Markets chapter?
The Products and Markets chapter covers detailed product and service segmentation, analysis of major markets and international trade data for the for the Jewellery Manufacturing industry in the United Kingdom.
Questions answered in this chapter include how are the industry's products and services performing, what are innovations in industry products and services, what products or services do successful businesses offer and what's influencing demand from the industry's markets. This includes data and statistics on industry revenues by product and service segmentation and major markets.
Geographic Breakdown
What's included in the Geographic Breakdown chapter?
The Geographic Breakdown chapter covers detailed analysis and datasets on regional performance of the Jewellery Manufacturing industry in the United Kingdom.
Questions answered in this chapter include where are industry businesses located and how do businesses use location to their advantage. This includes data and statistics on industry revenues by location.
Competitive Forces
What's included in the Competitive Forces chapter?
The Competitive Forces chapter covers the concentration, barriers to entry and supplier and buyer profiles in the Jewellery Manufacturing industry in the United Kingdom. This includes data and statistics on industry market share concentration, barriers to entry, substitute products and buyer & supplier power.
Questions answered in this chapter include what impacts the industry's market share concentration, how do successful businesses handle concentration, what challenges do potential industry entrants face, how can potential entrants overcome barriers to entry, what are substitutes for industry services, how do successful businesses compete with substitutes and what power do buyers and suppliers have over the industry and how do successful businesses manage buyer & supplier power.
Companies
What's included in the Companies chapter?
The Companies chapter covers Key Takeaways, Market Share and Companies in the Jewellery Manufacturing industry in the United Kingdom. This includes data and analysis on companies operating in the industry that hold a market share greater than 5%.
Questions answered in this chapter include what companies have a meaningful market share and how each company is performing.
External Environment
What's included in the External Environment chapter?
The External Environment chapter covers Key Takeaways, External Drivers, Regulation & Policy and Assistance in the Jewellery Manufacturing industry in the United Kingdom. This includes data and statistics on factors impacting industry revenue such as economic indicators, regulation, policy and assistance programs.
Questions answered in this chapter include what demographic and macroeconomic factors impact the industry, what regulations impact the industry, what assistance is available to this industry.
Financial Benchmarks
What's included in the Financial Benchmarks chapter?
The Financial Benchmarks chapter covers Key Takeaways, Cost Structure, Financial Ratios, Valuation Multiples and Key Ratios in the Jewellery Manufacturing industry in the United Kingdom. This includes financial data and statistics on industry performance including key cost inputs, profitability, key financial ratios and enterprise value multiples.
Questions answered in this chapter include what trends impact industry costs and how financial ratios have changed overtime.
Industry Data
What's included in the Industry Data chapter?
The Industry Data chapter includes 10 years of historical data with 5 years of forecast data covering statistics like revenue, industry value add, establishments, enterprises, employment and wages in the Jewellery Manufacturing industry in the United Kingdom.
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Frequently Asked Questions
What is the market size of the Jewellery Manufacturing industry in the United Kingdom in 2026?
The market size of the Jewellery Manufacturing industry in the United Kingdom is £1.0bn in 2026.
How many businesses are there in the Jewellery Manufacturing industry in the United Kingdom in 2025?
There are 280 businesses in the Jewellery Manufacturing industry in the United Kingdom, which has grown at a CAGR of 5.1 % between 2020 and 2025.
How may import tariffs affect the Jewellery Manufacturing industry in the United Kingdom?
The Jewellery Manufacturing industry in the United Kingdom is likely to be impacted by import tariffs with imports accounting for a moderate share of industry revenue.
How may export tariffs affect the Jewellery Manufacturing industry in the United Kingdom?
The Jewellery Manufacturing industry in the United Kingdom is likely to be impacted by export tariffs with exports accounting for a moderate share of industry revenue.
Has the Jewellery Manufacturing industry in the United Kingdom grown or declined over the past 5 years?
The market size of the Jewellery Manufacturing industry in the United Kingdom has been growing at a CAGR of 2.1 % between 2020 and 2025.
What is the forecast growth of the Jewellery Manufacturing industry in the United Kingdom over the next 5 years?
Over the next five years, the Jewellery Manufacturing industry in the United Kingdom is expected to grow.
What are the biggest companies in the Jewellery Manufacturing industry in the United Kingdom?
The biggest companies operating in the Jewellery Manufacturing industry in the United Kingdom are Graff Diamonds Ltd, Monica Vinader Ltd and Boodle & Dunthorne Ltd
What does the Jewellery Manufacturing industry in the United Kingdom include?
Traditional and bridal jewellery and Costume jewellery are part of the Jewellery Manufacturing industry in the United Kingdom.
Which companies have the highest market share in the Jewellery Manufacturing industry in the United Kingdom?
The company holding the most market share in the Jewellery Manufacturing industry in the United Kingdom is Graff Diamonds Ltd.
How competitive is the Jewellery Manufacturing industry in the United Kingdom?
The level of competition is high and steady in the Jewellery Manufacturing industry in the United Kingdom.
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