Who are the key players in Gold Market?

Agnico Eagle Mines Limited, FRANCO-NEVADA CORPORATION, Newmont Corporation, PJSC Polyus and Barrick Gold Corporation are the major companies operating in the Gold Market. Read More

Which is the fastest growing region in Gold Market?

Europe is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Gold Market?

In 2024, the Asia-Pacific accounts for the largest market share in Gold Market. Read More

What years does this Gold Market cover, and what was the market size in 2023?

In 2023, the Gold Market size was estimated at 4.12 kilotons. The report covers the Gold Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Gold Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Gold Market Size

Market Size of Gold Industry

Study Period	2019 - 2029
Market Volume (2024)	4.42 kilotons
Market Volume (2029)	6.32 kilotons
CAGR (2024 - 2029)	7.38 %
Fastest Growing Market	Europe
Largest Market	Asia-Pacific
Market Concentration	Medium
Major Players *Disclaimer: Major Players sorted in no particular order

Gold Market Analysis

The Gold Market size is estimated at 4.42 kilotons in 2024, and is expected to reach 6.32 kilotons by 2029, growing at a CAGR of 7.38% during the forecast period (2024-2029).

The COVID-19 pandemic affected several industries negatively in 2020. The lockdown in most regions caused disruptions in mining and processing activities, and restrictions in freight transportation disturbed the supply chain. However, the conditions started recovering in 2021, restoring the market's growth trajectory.

The major factor driving the market is the demand for gold in the form of jewelry, technology, and long-term savings. This is especially true in developing nations, where gold is frequently utilized as a luxury item and a way of preserving wealth.

However, factors like declining ore grades, technical challenges, and strikes are expected to hinder global gold market expansion.

Nevertheless, the wedding market sector in China and India is projected to give several growth opportunities for the gold market segment in the future.

The Asia-Pacific region dominated the market globally, with the largest consumption coming from countries such as China and India, and this is expected to remain the same in the future.

Gold Industry Segmentation

Gold has the chemical symbol Au (from the Latin word aurum) and the atomic number 79. As a result, it is one of the highest atomic number elements found in nature. In its pure state, it is a brilliant, somewhat orange-yellow, dense, soft, malleable, and ductile metal. Traditionally, gold has been used to make coins, bullion, and jewelry, but recently, it has been used in a variety of applications, including dentistry, electronics, and aerospace.

The gold market is segmented by type, application, and geography. By type, the market is segmented into alloyed gold and layered gold. By application, the market is segmented into jewelry, electronics, awards, status symbols, and other applications (dentistry and aerospace). The report also covers the market size and forecasts for the gold market in 15 countries across the studied regions.

For each segment, the market sizing and forecasts have been done on the basis of volume (tons).

By Type
		Alloyed Gold
		Layered Gold

Application
		Jewellery
		Electronics
		Awards and Status Symbols
		Other Applications (Dentistry, Aerospace, etc.)

Geography

Production Analysis
	United States
	Australia
	Brazil
	Burkina Faso
	Canada
	China
	Colombia
	Ghana
	Indonesia
	Kazakhstan
	Mali
	Mexico
	Papua New Guinea
	Peru
	Russia
	South Africa
	Sudan
	Tanzania
	Uzbekistan
	Other countries

Consumption Analysis

Asia-Pacific
	China
	India
	Japan
	South Korea
	Rest of Asia-Pacific

North America
	United States
	Canada
	Mexico

Europe
	Germany
	United Kingdom
	Italy
	France
	Rest of Europe

South America
	Brazil
	Argentina
	Rest of South America

Middle East and Africa
	Saudi Arabia
	South Africa
	Rest of Middle East and Africa

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Gold Market Size Summary

The gold market is poised for significant growth over the forecast period, driven by increasing demand across various sectors such as jewelry, technology, and as a long-term savings option. The market's recovery post-COVID-19 disruptions has been robust, with developing nations, particularly in Asia-Pacific, leading the charge. The region's dominance is underscored by substantial consumption in China and India, where gold is not only a luxury item but also a crucial component of wealth preservation. Despite challenges like declining ore grades and technical issues, the market is expected to benefit from opportunities in the wedding sectors of these countries, which continue to drive jewelry demand. The market's fragmented nature sees a mix of large and small players, with major companies like Newmont Corporation and Barrick Gold Corporation playing pivotal roles.

Gold's versatility in applications ranging from electronics to medicine, coupled with its unique properties such as conductivity and corrosion resistance, further bolsters its market appeal. The jewelry sector is anticipated to maintain the largest share of the market, with gold's enduring qualities making it a preferred choice for consumers. The Asia-Pacific region not only leads in consumption but also in production, with China and Australia at the forefront. The region's gold recycling efforts, particularly in India, have seen significant increases, contributing to the market's expansion. As a popular investment vehicle, gold continues to attract interest as a hedge against market volatility, reinforcing its status as a key player in the global financial landscape.

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Gold Market Size - Table of Contents

1. MARKET DYNAMICS
1. 1.1 Drivers
  1. 1.1.1 Demand for Gold in the form of Jewelry and Long-term Savings
  2. 1.1.2 Increasing Consumption in High-End Electronics Applications
  3. 1.1.3 Other Drivers
2. 1.2 Restraints
  1. 1.2.1 Declining Ore Grades and Other Technical Challenges
  2. 1.2.2 Other Restraints
3. 1.3 Industry Value Chain Analysis
4. 1.4 Porter's Five Forces Analysis
  1. 1.4.1 Bargaining Power of Suppliers
  2. 1.4.2 Bargaining Power of Buyers
  3. 1.4.3 Threat of New Entrants
  4. 1.4.4 Threat of Substitute Products and Services
  5. 1.4.5 Degree of Competition
2. MARKET SEGMENTATION (Market Size in Volume)
1. 2.1 By Type
  1. 2.1.1 Alloyed Gold
  2. 2.1.2 Layered Gold
2. 2.2 Application
  1. 2.2.1 Jewellery
  2. 2.2.2 Electronics
  3. 2.2.3 Awards and Status Symbols
  4. 2.2.4 Other Applications (Dentistry, Aerospace, etc.)
3. 2.3 Geography
  1. 2.3.1 Production Analysis
    1. 2.3.1.1 United States
    2. 2.3.1.2 Australia
    3. 2.3.1.3 Brazil
    4. 2.3.1.4 Burkina Faso
    5. 2.3.1.5 Canada
    6. 2.3.1.6 China
    7. 2.3.1.7 Colombia
    8. 2.3.1.8 Ghana
    9. 2.3.1.9 Indonesia
    10. 2.3.1.10 Kazakhstan
    11. 2.3.1.11 Mali
    12. 2.3.1.12 Mexico
    13. 2.3.1.13 Papua New Guinea
    14. 2.3.1.14 Peru
    15. 2.3.1.15 Russia
    16. 2.3.1.16 South Africa
    17. 2.3.1.17 Sudan
    18. 2.3.1.18 Tanzania
    19. 2.3.1.19 Uzbekistan
    20. 2.3.1.20 Other countries
  2. 2.3.2 Consumption Analysis
    1. 2.3.2.1 Asia-Pacific
      1. 2.3.2.1.1 China
      2. 2.3.2.1.2 India
      3. 2.3.2.1.3 Japan
      4. 2.3.2.1.4 South Korea
      5. 2.3.2.1.5 Rest of Asia-Pacific
    2. 2.3.2.2 North America
      1. 2.3.2.2.1 United States
      2. 2.3.2.2.2 Canada
      3. 2.3.2.2.3 Mexico
    3. 2.3.2.3 Europe
      1. 2.3.2.3.1 Germany
      2. 2.3.2.3.2 United Kingdom
      3. 2.3.2.3.3 Italy
      4. 2.3.2.3.4 France
      5. 2.3.2.3.5 Rest of Europe
    4. 2.3.2.4 South America
      1. 2.3.2.4.1 Brazil
      2. 2.3.2.4.2 Argentina
      3. 2.3.2.4.3 Rest of South America
    5. 2.3.2.5 Middle East and Africa
      1. 2.3.2.5.1 Saudi Arabia
      2. 2.3.2.5.2 South Africa
      3. 2.3.2.5.3 Rest of Middle East and Africa