Although the standing of the global economy and the Philippines has been affected by the pandemic and the war in Ukraine, the Philippine economy specifically has been experiencing continual growth in 2023, through ongoing urbanisation and the rise of the working population due to the entry of the younger generation in the workforce. As disposable incomes continue to rise, more of the population are expected to look at safer alternatives for investments.
The growing popularity of personalised and customised jewellery in the Philippines reflects a higher appreciation of individuality and meaningful expression through jewellery choices in 2023. As personalised jewellery that is used for engagements, gifting, and personal use is growing, it is being supported by a thriving local market and a range of options from which consumers can choose.
As both the Philippine and global populations have become more conscious about spending, consumers have been veering away from more disposable jewellery and accessories. Due to the rise of conscious consumerism, many jewellery brands in the Philippines have acknowledged that there is a product price gap that can be filled between luxury jewellery and jewellery coming from fast fashion brands such as H&M.
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Understand the latest market trends and future growth opportunities for the Jewellery industry in Philippines with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Jewellery industry in Philippines, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Jewellery
Jewellery is a kind of personal adornment usually made with various precious and semi-precious materials such as gemstones, precious metals, beads, glass, and shells. Jewellery is segmented as either real or costume jewellery. Hair Accessories are not included as part of Real or Costume jewellery.
See All of Our DefinitionsThis report originates from Passport, our Jewellery research and analysis database.
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