New research reveals that the size of the UK jewellery manufacturing industry is set to increase by 2.1% by the end of 2026.
Conducted by 77 Diamonds, the findings show that the total market revenue forecast is slated to exceed £1 billion for the first time since 2023.
77 Diamonds has analysed historical data on the estimated annual revenue of the UK jewellery manufacturing industry, finding that in 2025 total revenue reached an estimated £992.7 million. This represents a marginal annual increase of 0.2%, following a period of contraction.
While modest, this growth marks an important turning point for the jewellery industry, which has experienced consecutive annual declines in recent years.
Market revenue fell by 5.4% in 2024 and 4.3% in 2023, reflecting broader economic pressures and reduced consumer spending.
Over the longer term, the data highlights a relatively steady but subdued growth trajectory for the sector, with an average annual increase of 0.7% over the five past five years (2021-2025) and 1.2% over the past decade (2016-2025).
Despite short-term volatility, the industry continues to demonstrate resilience. Tobias Kormind, co-founder of 77 Diamonds, commented: “After several years of economic headwinds, it’s encouraging to see the UK jewellery manufacturing sector beginning to stabilise and return to growth.
“The past few years have been shaped by a combination of inflationary pressure, shifting consumer priorities, and wider global uncertainty, all of which have had a tangible impact on demand and production.
“What we’re now seeing is a gradual rebuilding of confidence, both from consumers and within the trade itself.
“There is renewed appreciation for quality craftsmanship, as well as growing support for local design and manufacturing.
“These factors are helping to underpin a more positive outlook for the sector. That said, this recovery should be viewed as measured rather than rapid.
“The data points to steady, incremental progress rather than sharp rebounds. Provided the global economic environment returns to a place of relative stability, we would expect this upward trajectory to slowly continue, with the wider UK economy also benefiting from increased activity in the sector.”
