Chapter 4 - Jewellery Market

  • While traditional buyers prefer plain 96.5% gold jewellery, younger consumers are shifting towards 18- or even 14-carat fashion pieces.
  • The country hosts a long-standing and well-established jewellery export industry, which in 2024 shipped a record total of $2.9bn.

Introduction

Thailand’s jewellery sector is both traditional and dynamic, reflecting its deep cultural roots as well as growing modern influences. Bangkok serves as the epicentre of the jewellery trade, hosting thousands of retail shops and wholesalers. As noted earlier, gold jewellery plays a dual role in Thai culture, it is both an object of adornment and a store of wealth. Such purchases tend to coincide with auspicious occasions such as weddings, New Year celebrations, and religious ceremonies. In rural areas, jewellery ownership often correlates with agricultural income cycles, where farmers convert surplus earnings into gold during good harvests.

Despite its cultural significance, Thailand’s retail investment far exceeds its jewellery consumption. In 2025, the former reached 51t, compared with 19t of jewellery fabrication and just 8t of jewellery consumption. This dichotomy also distinguishes Thailand from many other Asian markets.


965 gold pendants by Iris Gold (an Ausiris Gold company)

Thai Gold Jewellery Consumption

Jewellery Consumption

The Thai jewellery market is gradually evolving, influenced by generational change and urbanisation. While older consumers continue to favour traditional 96.5% plain gold jewellery, younger and more urban buyers increasingly prefer modern designs, lower caratages, and gem-set pieces. Millennial consumers are showing greater interest in diamond and gemstone-studded jewellery, typically in 18- or 14-carat gold, reflecting a shift away from investment-oriented purchases to fashion-driven consumption.

The rise of social media has further transformed jewellery retailing. Platforms such as Facebook, Instagram, and LINE have become increasingly important sales channels, enabling both small jewellers and established brands to engage directly with consumers nationwide. Cities like Bangkok and Chiang Mai are also witnessing growing demand for lightweight, contemporary jewellery suited for everyday wear, further signalling a gradual change in consumer tastes.

Thai Gold Jewellery Fabrication

Jewellery Exports

While domestic consumption is modest, exports form the backbone of Thailand’s jewellery industry, making it one of the world’s leading jewellery exporters. The country’s competitive strengths lie in its skilled craftsmanship, cost efficiency, and robust supply chains. Exports are dominated by gold, silver, and gemstone-studded jewellery, with principal destinations including the US, Hong Kong, India, and the Middle East. In addition, Thailand also holds a prominent position in the coloured
gemstone trade, particularly in rubies and sapphires. The Bangkok Gems and Jewellery Fair remains a cornerstone of the international industry calendar, showcasing Thailand’s capabilities and connecting domestic manufacturers with global buyers.

Blue sapphire diamond necklace by Prakaipetch Gems