The production of jewelry articles and parts in Italy has exhibited fluctuating trends from 2013 to 2023. In 2023, the value stood at 5.3157 billion Euros, reflecting a year-on-year increase of 9.64%. The market has shown significant volatility over the years, with notable peaks in 2017 and 2021 and substantial declines in 2018 and 2020. The most recent CAGR over the past five years ending in 2023 is 8.57%, indicating a robust recovery in production post the initial COVID-19 downturns.
Forecasts from 2024 to 2028 show a continued increase in production values, reaching up to 6.5353 billion Euros by 2028. The forecasted 5-year CAGR from 2024 to 2028 is expected to be 3.27%, suggesting steady growth and a 17.45% overall growth rate over this period.
Future trends to watch for include:
- The impact of global economic conditions on luxury goods and jewelry demand.
- Changes in consumer preferences, particularly towards sustainable and ethically sourced jewelry.
- Innovations in jewelry design and manufacturing technology.
- Potential fluctuations due to geopolitical factors affecting raw material supply chains.