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Jewelry - Mongolia

Mongolia
  • In Mongolia, the revenue in the Jewelry market is expected to reach US$23.89m in 2024.
  • It is projected to have an annual growth rate of 3.63% (CAGR 2024-2029).
  • When compared globally, China generates the highest revenue in the Jewelry market, amounting to US$114bn in 2024.
  • In terms of per person revenues, in Mongolia is estimated to generate US$6.84 in 2024.
  • By 2024, 81% of the sales in the Jewelry market will be attributed to Non-Luxury.
  • Mongolia's jewelry market is flourishing, driven by a growing demand for traditional Mongolian designs and craftsmanship.

Definition:

The Jewelry market covers rings, necklaces, earrings, bracelets, brooches, and other small decorative items that are worn for personal ornamentation.

Additional information:

The market comprises revenues and average revenue per capita. The key players in the market are leaders in their respective segments and are known for their innovative products, brand reputation, and extensive distribution networks. For more information on the data displayed, use the info button right next to the boxes.

In-Scope

  • High jewelry
  • Fashion jewelry

Out-Of-Scope

  • Non-wearable items made from precious metals, pearls, precious or semi-precious stones

Revenue

Most recent update: Mar 2024

Source: Statista Market Insights

Notes: Data was converted from local currencies using average exchange rates of the respective year.

Most recent update: Sep 2024

Source: Statista Market Insights

Most recent update: Sep 2024

Source: Statista Market Insights

Key Players

Most recent update: Mar 2024

Source: Statista Market Insights

Sales Channels

Most recent update: Mar 2024

Source: Statista Market Insights

Global Comparison

Most recent update: Sep 2024

Source: Statista Market Insights

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on consumer spending on accessories, including watches and jewelry, as well as luggage and bags. that are produced for private end consumers. Retail sales through both offline and online sales channels are included.

Modeling approach / Market size:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, market data from third-party sources (e.g., independent databases), historical developments, current trends, as well as survey results from our primary research (e.g., the Statista Consumer Insights Global survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP and consumer spending. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, exponential trend smoothing is well suited for making forecasts about the Accessories market, which is projected to grow steadily. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development).

Key Market Indicators

Notes: Based on IMF, World Bank, UN and Eurostat

Most recent update: Sep 2024

Source: Statista Market Insights

Explore more high-quality data on related topic

Global Jewelry Market - Statistics & Facts

Humans have worn jewelry for many thousands of years. It is one of the most ancient and enduring forms of personal expression. Whether it’s a luxurious diamond necklace, or a simple charm bracelet, jewelry can make the wearer instantly feel more confident and stylish. In 2022, the global luxury jewelry market amounted to about 28 billion euros. Globally, the lion’s share of the jewelry and watch market revenue generated in 2022 is attributed to three countries: China was the largest, followed closely by India and the United States. The value of the jewelry market is expected to increase from about 270 billion U.S. dollars in 2022 to over 330 billion dollars by 2026. One of the most exciting new innovations in the jewelry industry is lab-created diamonds, which are often indistinguishable from natural diamonds, and are expected to become much more common and readily available in the near future.
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