UK jewellery manufacturing revenue forecast to exceed £1bn in 2026

The UK jewellery manufacturing industry is forecast to reach a market revenue of £1.01bn by the end of 2026, according to new research from 77 Diamonds. 

The data revealed that the sector will grow by 2.1%, marking the first time revenue has exceeded the £1bn threshold since 2023.

The industry is currently recovering from a period of decline. Market revenue fell by 4.3% in 2023 and 5.4% in 2024 as economic pressures reduced consumer spending. 

Data for 2025 showed a marginal increase of 0.2%, with total revenue reaching an estimated £992.7m.

Long-term analysis also showed a steady but subdued trajectory for the sector. The industry has recorded an average annual increase of 0.7% over the last five years and 1.2% over the past decade.

Tobias Kormind, co-founder of 77 Diamonds, said: “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.”

Kormind added: “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.”