Pearl market in China: driven by youth trends and old-money

文章预览

Pearls are categorized into two main types: freshwater pearls and saltwater pearls. In the first half of 2023, the pearl market in China was valued at RMB 31.09 billion . The country currently dominates the production of freshwater pearls, accounting for around 75% of the global output, primarily clustered in a few provinces. Younger consumers are increasingly drawn to pearl jewelry, with platforms like Xiaohongshu reflecting this evolving trend. The pearl market’s evolution is also evident in its sales strategies, with livestreaming emerging as a dominant force. The surge in pearl demand in China, coupled with reduced supply, drove up prices for both freshwater and saltwater pearls in 2023. Pearl sales in China increased in 2023 In 2022, retail sales of pearl jewelry in China amounted to RMB 24 billion , representing 3% of the nation’s total jewelry sales. Zhuji (诸暨), a county-level city located in Zhejiang province, serves as a good barometer for the status of the pearl mar ………………………………