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Fabrication Demand Drivers for Silver in the Industrial, Jewellery and Silverware Sectors through 2033

Jewellery, silverware demand is projected to rise 34, 30 percent

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Industrial, Jewellery and Silver expected to see robust future. Silver industrial demand is forecast to increase 46 percent through 2033,while jewellery and silverware demand is projected to rise 34 and 30 percent respectively, with all three sectors already accounting for nearly three-quarters of the world’s demand for silver in 2022.

The investment sector comes in with a healthy 27 percent of overall silver demand last year, according to a report from Oxford Economics, a London-based economic advisory and consultancy firm. Fabrication Demand Drivers for Silver in the Industrial, Jewellery and Silverware Sectors Through 2033, was commissioned by the Silver Institute to forecast the growth rates of key sectors of global silver manufacturing demand, and to gain insight into how demand will change over the next decade.

As for specific countries, Oxford noted that India will lead the world in jewellery demand over the next ten years but that it may lose some of its silver jewellery dominance to China. India will continue to lead silverware demand but perhaps with a lower market share than it recorded in 2022. “We expect demand from India will contribute 43% of the growth in the demand for silver to be turned into silverware. This is less than their existing share of consumption at 73%,”the report noted.

Just over half of the growth in the global output of the other manufacturing sector between 2023 and 2033 is forecast to occur in China. The United States is forecast to have an 8% share of the additional other manufacturing output. Three countries including India are expected to generate 2% of the additional output.

The report concluded that long-term forecasting for the silver production industry, “should help them decide how best to target growing industries and where to locate their logistics, marketing, and sales efforts. There may however be unforeseen challenges to these forecasts,” the report warned. “This may occur if the different fabricator industries undergo structural change (such as thrifting) or there are unforeseen economic shocks.”

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DiamondBuzz

Jewelbox Expects Festive Momentum as Consumers Embrace Versatile Lab-Grown Diamond Jewellery

In an exclusive JewelBuzz interview, Vidita Kochar Jain, Co-founder, Jewelbox, shares insights on festive jewellery demand, evolving consumer preferences, the growing acceptance of lab-grown diamonds and the brand’s latest personalised diamond offering, Signed Diamonds

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Jewelbox, a contemporary lab-grown diamond jewellery brand, is witnessing an evolving jewellery consumption landscape, with consumers increasingly prioritising versatile designs, personal expression and value. As festive and wedding purchases gain momentum, the brand sees growing opportunities in everyday fine jewellery, gifting and personalised diamond offerings.

In an exclusive interview with JewelBuzz, Vidita Kochar Jain, Co-Founder, Jewelbox, discusses expectations for the current festive season, changing consumer sentiment, the growing appeal of lab-grown diamonds and the brand’s latest festive offering, Signed Diamonds, which brings a personal touch to diamond jewellery.

Jb: What are your expectations with regard to jewellery sales during the current festive season?

Vidita Kochar : Every year, the festive season is a strong period for jewellery consumption, with both gifting and self-purchases contributing to demand. Jewellery continues to hold a unique position in Indian celebrations, but the nature of consumption is evolving. Customers are increasingly looking beyond traditional occasion-led purchases towards versatile pieces that can be worn regularly. At Jewelbox, we expect lab-grown diamond jewellery to benefit from this shift, particularly in categories such as everyday fine jewellery, statement pieces and gifting. We remain optimistic about festive demand and expect to see sustained momentum across our retail and digital channels.

Jb: What is the current consumer sentiment regarding jewellery purchases?

Vidita Kochar: Consumer sentiment towards jewellery remains encouraging, although purchasing behaviour is becoming increasingly discerning. Customers are placing greater emphasis on design differentiation, product quality, versatility and the overall value proposition. There is also a discernible shift towards self-purchasing, with consumers increasingly viewing jewellery as a personal expression rather than an occasion-led purchase. Within this evolving landscape, lab-grown diamonds are finding greater acceptance, particularly among younger consumers who appreciate the ability to access fine jewellery across a wider range of designs and price points.

Jb: Are you launching any festive or wedding collections this season? If yes, please share the details?

Vidita Kochar: At Jewelbox, our focus this season is on offering jewellery that brings together contemporary design, versatility and craftsmanship. Our collections cater to festive celebrations as well as weddings, with designs that transition effortlessly from special occasions to everyday wear.

With changing consumer preferences reshaping the jewellery landscape, versatility, personalisation and design-led offerings are emerging as important purchase drivers.

Jewelbox’s focus on contemporary lab-grown diamond jewellery and innovative concepts such as Signed Diamonds reflects its approach to connecting with the evolving expectations of modern consumers. As the festive and wedding seasons bring renewed opportunities for the industry, the brand remains focused on making diamond jewellery more accessible, expressive and meaningful.

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