Canada Gems and Jewelry Market Overview, 2031

The Canadian gems and jewellery market has experienced significant changes over the past decade, transitioning from traditional jewellery designs to more contemporary, tech-driven, and sustainable approaches. In recent years, Canadian consumers have increasingly sought eco-conscious, ethically sourced products, leading brands to adopt sustainable practices like responsible mining and the use of recycled metals. Canada's growing demand for lab-grown diamonds, driven by a younger, more environmentally aware demographic, has reshaped the jewellery landscape. Brands like Birks Group, one of the most prestigious jewellery retailers in Canada, have integrated these ethical sourcing practices into their offerings, showcasing collections that feature both natural and synthetic diamonds. Alongside this shift towards sustainability, the evolution of Canadian jewellery design has been influenced by global trends in minimalist styles and personalized pieces. Customization options are increasingly popular among Canadian consumers, with companies like Mejuri, a direct-to-consumer brand, capitalizing on this desire for personalized jewellery. As online shopping continues to gain traction, Canadian jewellery businesses are focusing on enhancing their digital presence. Additionally, the influx of luxury brands like Tiffany & Co. and Cartier into Canadian markets reflects the country’s expanding high-end jewellery sector. With the rise of e-commerce platforms and technological innovations such as augmented reality (AR) for virtual jewellery try-ons, Canada’s jewellery market is set to continue evolving, offering both local and international consumers new ways to engage with jewellery.

According to the research report, "Canada Gems and Jewellery Market Outlook, 2031," published by Bonafide Research, the Canada Gems and Jewellery market is anticipated to add to more than USD 3.47 Billion by 2026–31. The Canadian jewellery market has seen a number of key players making strides in recent years. For example, Hodges and Co., a leader in the Canadian diamond industry, remains a significant player in the North American market, producing some of the finest diamonds, sourced responsibly from the Northwest Territories. Additionally, Heart of Haiti, a collection brought to Canada by Swarovski, showcases the growing demand for artisan-crafted pieces with a social impact, offering fair wages to Haitian artisans while promoting sustainable practices. Major players such as Michael Hill Jewellers and Spence Diamonds continue to expand across the country, with Michael Hill focusing on fine jewellery and Spence Diamonds innovating with lab-grown diamonds, which are increasingly sought after due to their lower environmental footprint. On the luxury end, LVMH continues to dominate with its acquisition of Tiffany & Co., while Cartier continues to increase its footprint in high-end jewellery, serving affluent Canadian consumers. Innovations in digital retail are also taking hold, with Canadian retailers like Rockwell Diamonds incorporating virtual consultations and online customization tools to cater to a tech-savvy customer base. The growing emphasis on sustainability, coupled with the increasing accessibility of digital tools and customization options, positions the Canadian jewellery market as a dynamic and competitive segment within the global luxury industry.

In Canada the gems and jewellery market is heavily influenced by the enduring popularity of materials like gold, silver, and diamonds. Gold is particularly favoured for its intrinsic value and cultural significance, especially in regions like Toronto and Vancouver, where high-income consumers frequently purchase gold jewellery as both an investment and a luxury item. Silver, often seen as a more affordable yet stylish alternative to gold, enjoys popularity in urban centres such as Montreal, where consumers favour it for both everyday wear and artistic designs. Meanwhile, platinum's rarity and association with prestige make it a go-to choice for high-end jewellery, particularly engagement rings and wedding bands. The Canadian market also demonstrates a strong preference for diamonds, particularly in the northern territories of Canada, where the country’s own diamond mines such as the Ekati and Diavik mines in the Northwest Territories supply a significant amount of locally mined stones. Additionally, there is an increasing trend for other materials like gemstones, palladium, titanium, and even copper. In recent years, gemstones such as emeralds and sapphires have gained attention due to their vivid colours and rarity. Titanium and palladium have been increasingly used in the production of jewellery items due to their durability and hypoallergenic properties, making them ideal for those with sensitive skin. These materials also offer a unique aesthetic, appealing to Canadian consumers who seek modern and non-traditional designs. The use of these diverse materials enriches the market, catering to a wide range of preferences and occasions.

In Canada, rings are undoubtedly the most popular jewellery product, with engagement rings and wedding bands taking centre stage, particularly in cities like Toronto and Montreal where luxury and custom designs are in demand. Wedding jewellery holds deep cultural significance across the country with couples choosing unique, high-quality rings for engagement and marriage ceremonies. Necklaces, while traditionally seen as a symbol of elegance and sophistication, remain popular in the Canadian market, with many people opting for pieces featuring diamonds or pearls for formal occasions. Earrings, on the other hand, are widely worn for both casual and special occasions, with Canadian consumers choosing from a variety of styles, including studs, hoops, and drop earrings, particularly in cosmopolitan areas like Vancouver. Bracelets have also gained traction, with Canadian consumers embracing both minimalist designs and more intricate pieces featuring gemstones or metalwork. Chains and pendants offer further versatility, with chains often used to showcase pendants, which can range from symbols of faith to family heirlooms. Other items, including brooches, cufflinks, and hair accessories, also hold a place in the market. While these pieces are less common than rings and necklaces, they are often chosen for their decorative and vintage appeal, especially among those interested in antique jewellery. As Canadian consumers increasingly favour personalisation and craftsmanship, the demand for unique, bespoke products continues to rise, driving the market for rings, necklaces, and other decorative pieces.

In Canada, the wedding jewellery market is one of the most significant drivers of demand. Weddings across the country often involve the exchange of engagement rings and wedding bands, making them integral to the jewellery sector. Cities like Toronto, Vancouver, and Calgary are hotspots for luxury weddings, where brides and grooms invest in high-end jewellery pieces to mark the occasion. Wedding jewellery often features diamonds, platinum, and gold, and the growing trend of custom designs means consumers are looking for unique, personalized pieces. Collections also represent a significant portion of jewellery sales in Canada, especially with consumers investing in luxury pieces that are seen as both artistic expressions and long-term assets. Jewellery collections often cater to individuals seeking to enhance their style and status, with some preferring pieces that can be passed down through generations. Festive blessings, particularly during holidays such as Christmas, New Year, and other religious celebrations, contribute to increased jewellery purchases. These occasions are popular for gifting, and jewellery becomes a symbol of love, prosperity, and celebration. Fashion trends also play a vital role in the market, with seasonal collections reflecting changing tastes and preferences. Fashion jewellery, including stylish necklaces and bracelets, is often influenced by current trends seen in media and social platforms. Other occasions like birthdays, graduations, and religious holidays also contribute to jewellery purchases, with consumers seeking meaningful gifts that celebrate milestones in life.



The distribution of gems and jewellery in Canada is primarily dominated by jewellery stores, which are trusted for their expertise and ability to provide customers with a personalized experience. Many consumers prefer shopping at well-established jewellery stores in major cities like Toronto, Montreal, and Vancouver, where they can view and try on pieces in person, ensuring the quality and authenticity of the jewellery. Multi-branded stores, where several brands are showcased under one roof, have also gained popularity, particularly in high-traffic shopping districts such as the Yorkville area in Toronto. These stores offer a wide selection of jewellery from various designers, giving consumers a range of options to choose from. Standalone stores, especially those from renowned Canadian brands like Birks, are particularly attractive for those seeking a more bespoke shopping experience and high-end luxury pieces. However, online shopping has seen significant growth, particularly in recent years as digital platforms like Etsy, Amazon, and dedicated jewellery e-commerce sites make it easier for consumers to access jewellery from around the world. Online shopping offers a convenience factor that traditional stores cannot, and Canadian consumers are increasingly comfortable purchasing jewellery online, especially with the added confidence of secure payment methods and easy return policies. Many jewellery retailers are embracing the e-commerce model, offering a seamless transition between physical stores and online platforms. This evolution in distribution channels is reshaping the Canadian jewellery market, as consumers seek convenience, variety, and personalized services both in-store and online. 

Considered in this report
• Historic Year: 2020
• Base year: 2025
• Estimated year: 2026
• Forecast year: 2031

Aspects covered in this report
• Gems and Jewelry Market with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Material
• Gold
• Silver
• Platinum
• Diamond
• Others(Gemstones, palladium, titanium, bronze, copper, brass)

By Product
• Rings
• Necklaces
• Earrings
• Bracelets
• Chains and Pendants
• Others(brooches, cufflinks, and hair accessories)

By Application
• Weddings
• Collections
• Festive Blessing
• Fashions
• Others(birthdays, graduations, or religious holidays. )

By Distribution Channel
• Jewelry Stores
• Multi Branded Stores
• Standalone
• Online