The market scale of China's jewelry industry is increasing year by year, and the growth rate of the industry fluctuates greatly. In 20 14-20 19, the market size of China's jewelry industry increased from 567.4 billion yuan to 750.3 billion yuan in 20 19. Since 20 17, the growth rate of pearl jewelry industry in China has also increased year by year, and the growth rate of jewelry industry reached 8% in 20 19.

At present, the demand of jewelry consumers is mainly wedding.

Wedding is the main part of Chinese jewelry consumers' demand, accounting for 50% of Chinese jewelry market demand. According to the traditional wedding custom in China, jewelry products are essential for marriage.

With the continuous growth of per capita GDP in China and exceeding 1 10,000 USD, people pay more and more attention to the quality of life, and the consumption effect of holiday economy is increasingly prominent. Birthday, anniversary, Spring Festival and other holiday gifts have formed a culture, so the demand for holiday gifts is also one of the main components of jewelry consumption.

It is estimated that the market size of the jewelry industry will reach 900 billion yuan in 2025.

In the short term, due to the impact of the COVID-19 epidemic in the first half of 2020, large sub-regions will abide by the advocated non-gathering policy and cooperate with the control of the epidemic, resulting in the postponement of the wedding banquet. With the control of the epidemic, the wedding just needs to be released in the second half of 2020, which will promote the sales of gold jewelry in the short term. According to the data of the National Bureau of Statistics, the year-on-year growth rate of retail sales of gold and jewelry has increased from -4 1% in June 2020 to 7.5% in July. In the long run, the decline in the marriage rate will have a certain impact on the sales of gold jewelry. The continuous decline in the number of marriages in the future will have a certain impact on the jewelry industry. However, due to the improvement of consumption power, the diversification of demand and the consumption influence of young people in the jewelry industry, the market scale of China's jewelry industry will continue to grow in the next few years. It is estimated that in 2025, the market size of China's jewelry industry will be around 944.5 billion yuan.

—— For more data, please refer to the Analysis Report on Business Models and Investment Opportunities of China's Jewelry Industry by Prospective Industry Research Institute.