The sold production of articles of jewellery of precious metal in Italy has exhibited significant fluctuations over the past decade. Observing the actual data from 2013 to 2023, we notice an erratic pattern with notable peaks and troughs. The production value hit a low in 2014, followed by steady increases, reaching a peak in 2017. Despite a sharp decline in 2018, the production value demonstrated resilience, recovering by 2019 and beyond.
In 2023, the production value stood at €1.5236 billion, marking a 9.97% increase from the previous year. The 2023 value also reflects a compound annual growth rate (CAGR) of 10.63% over the past five years. Looking ahead from 2024, the forecast indicates a consistent upward trend, with the production value expected to reach €1.9857 billion by 2028, signifying a projected 5-year CAGR of 4.18%.
The year-on-year variations over the last two years highlight a stabilization of the market with 9.97% growth in 2023 and a more optimistic forecast for the future. This recovery and growth can be attributed to increased demand and stability in global economic conditions.
Future trends to watch for include the impact of global economic shifts, consumer preferences towards sustainable and ethically sourced jewellery, and technological advancements in jewellery manufacturing. Monitoring these factors will be crucial for stakeholders in the Italian jewellery market.