How Has the Gold Bullion Market Size Evolved in Recent Years?
The gold bullion market has seen considerable growth due to a variety of factors.
• The gold bullion market has shown rapid growth in recent years. It will rise from $76.58 billion in 2024 to $86.79 billion in 2025, reflecting a compound annual growth rate (CAGR) of 13.3%.
Historical growth is due to lower interest rates, currency fluctuations, an increasing demand for gold as a safe-haven investment, economic uncertainties, and rising investment demand.
What Is The Forecast For The Gold Bullion Market Size?
The gold bullion market is expected to maintain its strong growth trajectory in upcoming years.
• The gold bullion market is projected to grow rapidly, reaching $142.07 billion by 2029, with a CAGR of 13.1%.
The growth is driven by steady demand for gold in jewelry and industrial applications, rising retail consumer demand, increased adoption of gold jewelry among men, growing popularity, and evolving lifestyle choices. Key trends will include technological advancements, inflation and interest rate impacts, mining technology improvements, greater focus on environmental, social, and governance (ESG) criteria, and changes in mining regulations.
What Are The Essential Drivers Behind The Growth Of The Gold Bullion Market?
The rise in jewelry demand is likely to propel the gold bullion market. Jewelry, often crafted from precious metals like gold, is experiencing increased demand due to consumer preferences for luxury items and high-value assets. According to the World Gold Council, global demand for gold jewelry rose to 2,093 metric tons in 2023, an 8% increase, with a market value of $131 billion. Therefore, the increasing demand for jewelry is driving the gold bullion market.
How Is The Global Gold Bullion Market Divided Into Key Segments?
The gold bullion market covered in this report is segmented –
1) By Type: Gold Bars, Gold Bullion Coins
2) By Application: Information Technology (IT)-Related Electrically Conductive Materials, Jewelry Materials, Dental Alloy Materials, Investment Commodities
3) By Distribution Channel: Online, Offline
Subsegments
1) By Gold Bars: Cast Bars, Minted Bars
2) By Gold Bullion Coins: Standard Bullion Coins, Commemorative Bullion Coins
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What Trends Are Reshaping The Future Of The Gold Bullion Market?
Leading firms in the gold bullion market are concentrating on creating groundbreaking solutions, such as tokenized physical gold trading, to improve investor accessibility and liquidity. Tokenized physical gold trading entails utilizing blockchain technology to develop digital tokens that signify the ownership of physical gold, promoting safer and simpler trading. For instance, HSBC Holding Plc, a financial service company from the UK, introduced the HSBC Gold Token in December 2023, a tokenized gold product intended for Hong Kong's retail investors. This development represents a significant stride in improving accessibility, as it allows customers to acquire fractional ownership of physical gold via digital tokens logged on a distributed ledger. The goal is to make gold investments more democratic by providing a regulated and adaptable option for retail investors.
Who Are the Key Players In The Gold Bullion Market?
Major companies operating in the gold bullion market are:
• Zijin Mining Group Co. Ltd.
• Perth Mint
• Johnson Matthey
• Mitsubishi Materials
• Newmont Corporation
• Barrick Gold Corporation
• Shandong Gold Mining Co. Ltd.
• Agnico Eagle Mines Limited
• AngloGold Ashanti Ltd.
• PJSC Polyus
• Kinross Gold Corporation
• Goldcorp Inc.
• Royal Canadian Mint
• Fresnillo PLC
• Yamana Gold Inc.
• Randgold Resources Limited
• Eldorado Gold Corporation
• Alamos Gold Inc.
• APMEX Inc.
• Elemetal LLC.
• Ohio Precious Metals
• Valcambi Suisse
• Argor-Heraeus
What Are The Regional Insights Into The Gold Bullion Market?
Asia-Pacific was the largest region in the gold bullion market in 2023. The regions covered in the gold bullion market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
