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DemographicTrends Positive For Jewellery Consumption


India's demographic trend is positive for precious jewellery consumption

  • According to the World Gold Council, marriage celebrations generate 50 percent of annual gold demand or 70 percent of annual gold jewellery demand 
  • According to the Platinum Guild International, bridal jewellery is 60 percent of platinum jewellery demand 
  • According to Equity Communications, 65 percent of diamond consumption is for weddings

Consequently, marriage events account for the majority of jewellery sales in India.

The number of Indians in the core ages for marriage has been increasing over time. This does have spillover effects on the number of marriages that occur per year and the quantity of jewellery bought for wedding celebrations.

Exhibit 5-1: Increasing number of persons in core ages for marriage

Number of persons in core ages for marriage.png

Source: OECD database, Equity Communications

Exhibit 5-2: Increasing number of marriages per year

India Number of weddings per year.png

Source: Equity Communications

Number of weddings per year is projected to increase from 12.5 million in 2010 to 13.6 million in 2020. This will likely provide incremental support for increased consumption of jewellery for marriage events.

Exhibit 5-3: Women taking longer to get married

Women's median age at first marriage.png

Source: Sample Registration System, Office of the Registrar General, India

The median age at first marriage rises with increased economic opportunities for women. Further economic growth in India will create more economic opportunities for women, meaning that more women will delay marriage for educational opportunities and career opportunities.

Exhibit 5-4: Age profile of married couples

Age profile of married persons.png

Source: Equity Communications

Links to Pages on India Jewellery Market

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