The jewellery production value in Italy has shown a significant variation over the years. Starting from 4.89 billion Euros in 2013, it fluctuated moderately until 2019's peak at 6.3 billion Euros. The pandemic year 2020 saw a steep decline of -24.01%, dropping to 4.79 billion Euros. However, a strong recovery began in 2021, with a 16.09% increase, followed by an 11.78% rise in 2022. In 2023, the production value stood at 6.74 billion Euros, marking an 8.39% increase. The average annual growth rate (CAGR) over the last five years has been 2.81%.
From 2024 onwards, forecasts predict continuous growth, reaching 7.75 billion Euros by 2028, with a forecasted 5-year CAGR of 2.21% and an overall growth rate of 11.56%. The year-on-year variations suggest a stable and bullish trend post-2023.
Future trends to watch for include technological advancements in jewellery manufacturing, evolving consumer preferences towards sustainable and ethical products, and the potential impact of economic conditions on luxury goods spending.
