Gold Bullion Market

Global Gold Bullion Market by Product Types (Gold Bars, and Gold Bullion Coins), Distribution Channel (Offline, and Online), and Regions (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA))

  • Report ID: MC-1218
  • Author: Growth Market Reports
  • Rating: 4.8
  • Total Reviews: 2
  • No. Of Pages: 215
  • Format:
  • Pub. Date: 06-06-2021
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Market Outlook:

The gold bullion market was valued at USD 37,448.8 Million in 2019 and is projected to reach USD 115,175.8 Million by 2027, expanding at a CAGR of 12.1% during the forecast period. The market is driven by increasing adoption of gold as a long-term investment and growing consumption of gold in jewelry. Conversely, volatile prices, in the short run, and fluctuating supply of mined gold due to COVID-19 pandemic are restraining the market. Central banks focused on buying bullion from local producers and rising number of partnerships and acquisitions are creating opportunities in the market.

Global Gold Bullion Market Summary

Market Dynamics
Procurement of gold bullion is anticipated to rise among retail consumers, due to their focus on gold as a long-term investment. Retail consumers consider gold bullion as a safe mode of investment. Demand for gold bullion is growing at a substantial rate. Consumers invest in gold bullion to diversify their portfolio. It is a vehicle to alleviate losses in periods of market stress. Gold bullion provides competitive returns in comparison with other investment options and acts as a hedge against currency risk and inflation. This rising demand from retail consumers is anticipated to positively affect the gold bullion market, thus propelling the market.

Perception of gold jewelry as a status symbol is increasing and the adoption of gold jewelry among men is increasing at a rapid pace. Bridal jewelry is a part of auspicious and grand functions like weddings. Use of necklaces and gold chains is common for routine use. Both women and men wear gold rings, anklets, and chains as a fashion statement. Earrings & bracelets are used as gift items in several events such as anniversaries. Gold bullion is often melted and further processed to make jewelry, which in turn, is estimated to drive the market.

Gold is easily molded and drawn into wires. It is a great conductor of electricity, is beaten into thin sheets, and melted to form alloys with other metals. Solid state electronics use low currents and voltages, which are disrupted by corrosion at contact points. Gold is an efficient conductor, which carries low currents and is unaffected by corrosion. Electronic modules made with gold are reliable. Gold is used in switch and relay contacts, connectors, and soldered joints. A tiny quantity of gold is employed in each sophisticated electronic device, which includes mobile phones, calculators, television sets, and global positioning system (GPS) units. Consumption of these electronics is rising rapidly and the demand for gold is increasing correspondingly. Gold bullion is melted and further shaped to be utilized in electronics applications. This in turn is anticipated to boost the gold bullion market.

Gold nanoparticles are used in millions of Rapid Diagnostic Tests (RDTs) conducted globally each year. This transformed the field of disease diagnosis over the last decade. Gold-based medicines are created and used to cure diseases such as rheumatoid arthritis. A method to deliver anti-cancer drugs is developed to directly target tumors via gold nanoparticles. Rising RDTs are anticipated to positively affect the usage of gold in healthcare. Gold is used in dentistry for dental bridges. Gold bullion is melted and further molded to be employed in RDT kits. This, in turn, is expected to drive the gold bullion market.

Gold bullion is often perceived as a safe haven investment and a good vehicle to store wealth; however, it is a commodity extracted from ores and is subject to economic forces of supply and demand. When gold miners manufacture surplus of gold in contrast to the market demand, the gold bullion prices experience a downward trend as per the laws of economics. Speculators that amass or sell off gold in large quantities stir ripples of brief imbalances in the market, which leads to extremely rapid price changes.

Segmental Outlook

By Product Types Segment
On the basis of product types, the market is segmented into gold bars and gold bullion coins. The gold bars segment accounted for a market share of 72.6% in 2020. The growth of the segment is attributed to increasing preference for gold bars by investors due to low average premium. A gold bar is a gold ingot made of highly refined metallic gold that consists a high level of purity. Gold bars are classified as cast or minted depending upon the process of manufacture. Cast bars are cast into iron molds, once they cool down, and marked with the refiner's seal, its purity, weight, and unique serial number. The gold bullion coins segment is anticipated to expand at a CAGR of 18.4% during the forecast period, owing to its easy liquidation at the time of selling. Bullion coins are usually minted in weight denominations, which are fractions of one troy ounce. Gold bullion coins acted as a primary mode of currency in the past centuries; however, the arrival of the international fiat currency system changed the role of gold bullion coins to an investment asset and collectible article. Small investors often purchase gold bullion coins as a bulwark against inflation.

Global Gold Bullion Market By Product Type

By Distribution Channel Segment
In terms of distribution channels, the gold bullion market is bifurcated into offline and online. In terms of revenue, the offline segment accounted for a market share of 80.5% in 2020. Offline distribution channel involves local gold bullion dealers and shops. These shops allow buyers to assess the gold bullions prior to purchase. Offline stores eliminate the costs of shipping and allows buyers to immediately access gold bullion rather than waiting for the bullions to arrive via post. Offline stores often charge a high premium in contrast to online purchases. These high premiums are charged to help the sellers cover their overhead expenses.

The growth of the segment is attributed to the buyers’ ability to physically see the gold bullion prior to its purchase. The online segment is anticipated to grow owing to the flexibility and convenience offered by online portals to the consumers. Online distribution channel refers to sale of products using an online portal such as company websites or web shops. Online sale of products increases customer reach. E-commerce platforms are gaining acceptance as distribution channels, owing to the rising number of tech-savvy consumers and growing preference for online portals. Moreover, sellers sell across states, towns, and borders, eliminating all geographical limitations. Certified gold bullion dealers provide insured delivery as per live spot-based pricing.

Global Gold Bullion Market By Distribution Channel

Region Wise Outlook

Based on regions, the global Gold Bullion market is divided into North America, Europe, Latin America, and Middle East & Africa. Asia Pacific constituted significant share of the global market in 2019 and is projected to expand at a substantial CAGR during the forecast period. Countries such as India and China are the powerhouses of gold consumption in the region. Gifting bullion during key events such as weddings is typical in India and many other Asian cultures. This is likely to drive the market in the region.

Global Gold Bullion Market By Region

Key Benefits for Industry Participants & Stakeholders

  • In-Depth Analysis of the Global Gold Bullion Market
  • Historical, Current and Projected Market Size in Terms of Value and Volume
  • Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
  • Industry Drivers, Restraints and Opportunities Covered in the Study
  • Recent Industry Trends and Developments
  • Competitive Landscape & Strategies of Key Players
  • Neutral Perspective on From Global Gold Bullion Market Performance
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Gold Bullion Market Overview
   4.1 Introduction
      4.1.1 Market Taxonomy
      4.1.2 Market Definition
      4.1.3 Macro-Economic Factors Impacting the Market Growth
   4.2 Gold Bullion Market Dynamics
      4.2.1 Market Drivers
      4.2.2 Market Restraints
      4.2.3 Market Opportunity
   4.3 Gold Bullion Market - Supply Chain Analysis
      4.3.1 List of Key Suppliers
      4.3.2 List of Key Distributors
      4.3.3 List of Key Consumers
   4.4 Key Forces Shaping the Gold Bullion Market
      4.4.1 Bargaining Power of Suppliers
      4.4.2 Bargaining Power of Buyers
      4.4.3 Threat of Substitution
      4.4.4 Threat of New Entrants
      4.4.5 Competitive Rivalry
   4.5 Global Gold Bullion Market Size & Forecast, 2017-2027
      4.5.1 Gold Bullion Market Size and Y-o-Y Growth
      4.5.2 Gold Bullion Market Absolute $ Opportunity
   4.6 Pricing Analysis & Forecast, By Product Type, 2017-2027
   4.7 Gold Production Outlook
   4.8 Gold Bullion Production Process Outlook
   4.9 Gold Production by Top Countries
   4.10 Gold Demand by Top Countries


Chapter 5 Global Gold Bullion Market Analysis and Forecast By Product Types
   5.1 Introduction
      5.1.1 Key Market Trends & Growth Opportunities By Product Types
      5.1.2 Basis Point Share (BPS) Analysis By Product Types
      5.1.3 Absolute $ Opportunity Assessment By Product Types
   5.2 Gold Bullion Market Size Forecast By Product Types
      5.2.1 Gold Bars
      5.2.2 Gold Bullion Coins
   5.3 Market Attractiveness Analysis By Product Types

Chapter 6 Global Gold Bullion Market Analysis and Forecast by Distribution Channels
   6.1 Introduction
      6.1.1 Key Market Trends & Growth Opportunities by Distribution Channels
      6.1.2 Basis Point Share (BPS) Analysis by Distribution Channels
      6.1.3 Absolute $ Opportunity Assessment by Distribution Channels
   6.2 Gold Bullion Market Size Forecast by Distribution Channels
      6.2.1 Offline

      6.2.2 Online
   6.3 Market Attractiveness Analysis by Distribution Channels

Chapter 7 Global Gold Bullion Market Analysis and Forecast by Region
   7.1 Introduction
      7.1.1 Key Market Trends & Growth Opportunities by Region
      7.1.2 Basis Point Share (BPS) Analysis by Region
      7.1.3 Absolute $ Opportunity Assessment by Region
   7.2 Gold Bullion Market Size Forecast by Region
      7.2.1 North America
      7.2.2 Europe
      7.2.3 Asia Pacific
      7.2.4 Latin America
      7.2.5 Middle East & Africa (MEA)
   7.3 Market Attractiveness Analysis by Region


Chapter 8 Coronavirus Disease (COVID-19) Impact
   8.1 Introduction
   8.2 Current & Future Impact Analysis
   8.3 Economic Impact Analysis
   8.4 Government Policies
   8.5 Investment Scenario

Chapter 9 North America Gold Bullion Analysis and Forecast
   9.1 Introduction
   9.2 North America Gold Bullion Market Size Forecast by Country
      9.2.1 U.S.
      9.2.2 Canada
   9.3 Basis Point Share (BPS) Analysis by Country
   9.4 Absolute $ Opportunity Assessment by Country
   9.5 Market Attractiveness Analysis by Country
   9.6 North America Gold Bullion Market Size Forecast By Product Types
      9.6.1 Gold Bars
      9.6.2 Gold Bullion Coins
   9.7 Basis Point Share (BPS) Analysis By Product Types
   9.8 Absolute $ Opportunity Assessment By Product Types
   9.9 Market Attractiveness Analysis By Product Types
   9.10 North America Gold Bullion Market Size Forecast by Distribution Channels
      9.10.1 Offline

      9.10.2 Online
   9.11 Basis Point Share (BPS) Analysis by Distribution Channels
   9.12 Absolute $ Opportunity Assessment by Distribution Channels
   9.13 Market Attractiveness Analysis by Distribution Channels


Chapter 10 Europe Gold Bullion Analysis and Forecast
   10.1 Introduction
   10.2 Europe Gold Bullion Market Size Forecast by Country
      10.2.1 Germany
      10.2.2 France
      10.2.3 Switzerland
      10.2.4 U.K.
      10.2.5 Austria
      10.2.6 Russia
      10.2.7 Rest of Europe
   10.3 Basis Point Share (BPS) Analysis by Country
   10.4 Absolute $ Opportunity Assessment by Country
   10.5 Market Attractiveness Analysis by Country
   10.6 Europe Gold Bullion Market Size Forecast By Product Types
      10.6.1 Gold Bars
      10.6.2 Gold Bullion Coins
   10.7 Basis Point Share (BPS) Analysis By Product Types
   10.8 Absolute $ Opportunity Assessment By Product Types
   10.9 Market Attractiveness Analysis By Product Types
   10.10 Europe Gold Bullion Market Size Forecast by Distribution Channels
      10.10.1 Offline Online
   10.11 Basis Point Share (BPS) Analysis by Distribution Channels
   10.12 Absolute $ Opportunity Assessment by Distribution Channels
   10.13 Market Attractiveness Analysis by Distribution Channels

Chapter 11 Asia Pacific Gold Bullion Analysis and Forecast
   11.1 Introduction
   11.2 Asia Pacific Gold Bullion Market Size Forecast by Country
      11.2.1 China
      11.2.2 Pakistan
      11.2.3 South Korea
      11.2.4 India
      11.2.5 Australia
      11.2.6 South East Asia (SEA)
      11.2.7 Rest of Asia Pacific (APAC)
   11.3 Basis Point Share (BPS) Analysis by Country
   11.4 Absolute $ Opportunity Assessment by Country
   11.5 Market Attractiveness Analysis by Country
   11.6 Asia Pacific Gold Bullion Market Size Forecast By Product Types
      11.6.1 Gold Bars
      11.6.2 Gold Bullion Coins
   11.7 Basis Point Share (BPS) Analysis By Product Types
   11.8 Absolute $ Opportunity Assessment By Product Types
   11.9 Market Attractiveness Analysis By Product Types
   11.10 Asia Pacific Gold Bullion Market Size Forecast by Distribution Channels
      11.10.1 Offline

      11.10.2 Online
   11.11 Basis Point Share (BPS) Analysis by Distribution Channels
   11.12 Absolute $ Opportunity Assessment by Distribution Channels
   11.13 Market Attractiveness Analysis by Distribution Channels

Chapter 12 Latin America Gold Bullion Analysis and Forecast
   12.1 Introduction
   12.2 Latin America Gold Bullion Market Size Forecast by Country
      12.2.1 Brazil
      12.2.2 Mexico
      12.2.3 Rest of Latin America (LATAM)
   12.3 Basis Point Share (BPS) Analysis by Country
   12.4 Absolute $ Opportunity Assessment by Country
   12.5 Market Attractiveness Analysis by Country
   12.6 Latin America Gold Bullion Market Size Forecast By Product Types
      12.6.1 Gold Bars
      12.6.2 Gold Bullion Coins
   12.7 Basis Point Share (BPS) Analysis By Product Types
   12.8 Absolute $ Opportunity Assessment By Product Types
   12.9 Market Attractiveness Analysis By Product Types
   12.10 Latin America Gold Bullion Market Size Forecast by Distribution Channels
      12.10.1 Offline

      12.10.2 Online
   12.11 Basis Point Share (BPS) Analysis by Distribution Channels
   12.12 Absolute $ Opportunity Assessment by Distribution Channels
   12.13 Market Attractiveness Analysis by Distribution Channels


Chapter 13 Middle East & Africa (MEA) Gold Bullion Analysis and Forecast
   13.1 Introduction
   13.2 Middle East & Africa (MEA) Gold Bullion Market Size Forecast by Country
      13.2.1 Saudi Arabia
      13.2.2 South Africa
      13.2.3 UAE
      13.2.4 Rest of Middle East & Africa (MEA)
   13.3 Basis Point Share (BPS) Analysis by Country
   13.4 Absolute $ Opportunity Assessment by Country
   13.5 Market Attractiveness Analysis by Country
   13.6 Middle East & Africa (MEA) Gold Bullion Market Size Forecast By Product Types
      13.6.1 Gold Bars
      13.6.2 Gold Bullion Coins
   13.7 Basis Point Share (BPS) Analysis By Product Types
   13.8 Absolute $ Opportunity Assessment By Product Types
   13.9 Market Attractiveness Analysis By Product Types
   13.10 Middle East & Africa (MEA) Gold Bullion Market Size Forecast by Distribution Channels
      13.10.1 Offline

      13.10.2 Online
   13.11 Basis Point Share (BPS) Analysis by Distribution Channels
   13.12 Absolute $ Opportunity Assessment by Distribution Channels
   13.13 Market Attractiveness Analysis by Distribution Channels

Chapter 14 Competition Landscape
   14.1 Gold Bullion Market: Competitive Dashboard
   14.2 Global Gold Bullion Market: Market Share Analysis, 2019
   14.3 Company Profiles (Details - Overview, Financials, Developments, Strategy)
      14.3.1 GV Gold (Vysochaishy, PJSC)
      14.3.2 Heraeus Holding GmbH
      14.3.3 METALOR Technologies SA
      14.3.4 Mitsubishi Materials Corporation
      14.3.5 PAMP S.A.
      14.3.6 PJSC MMC Norilsk Nickel
      14.3.7 PJSC Polyus
      14.3.8 Polymetal International plc
      14.3.9 Royal Canadian Mint
      14.3.10 Valcambi sa
Key Segments Covered

By Product Types
  • Gold Bars
  • Gold Bullion Coins
By Distribution Channel
  • Offline
  • Online
By Regions
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa (MEA)
Key Market Players Profiled in the Report
  • GV Gold (Vysochaishy, PJSC)
  • Heraeus Holding GmbH
  • METALOR Technologies SA
  • Mitsubishi Materials Corporation
  • PAMP S.A.
  • PJSC MMC Norilsk Nickel
  • PJSC Polyus
  • Polymetal International plc
  • Royal Canadian Mint
  • Valcambi sa
  • Key players in the Gold Bullion market are PJSC Polyus, Mitsubishi Materials Corporation, Heraeus Holding GmbH, Polymetal International plc, and Royal Canadian Mint.
  • These companies are considered as key market players of Global Gold Bullion market, based on their revenue, research & development (R&D) activities in the areas of improving offerings, and regional presence.
  • The players are adopting key strategies such as product development, geographical expansion, mergers and acquisition and many other strategies to cater the increasing demand for Gold Bullion.

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FAQ Section

Some frequently asked quetions about this report!

Additional company profiles can be provided on request.

According to this Growth Market Reports, the market from global Gold Bullion market is likely to register a CAGR of 10.0% during period 2020-2027, with an anticipated valuation of USD 115,175.8 million by the end of the 2027.

In addition to market size (in USD Million) and Company Market Share (in % for base year 2019), other data such Macro-economic factors, COVID-19 Impact on the global Gold Bullion market is available in final report.

Factors such as competitive strength and market positioning are key areas considered while selecting top companies to be profiled.

The global Gold Bullion market is anticipated to grow significantly during forecast period due to increasing adoption of gold as a long-term investment.

The market had minimal negative impact of the pandemic. The market is anticipated to witness positive growth in terms of demand during 2019-2020 owing to COVID-19.

The base year considered for the global Gold Bullion market report is 2019. The complete analysis period is 2017 to 2027, wherein, 2017 & 2018 are the historic years, and the forecast is provided from 2020 to 2027.

Major Manufactures include are PJSC Polyus, Mitsubishi Materials Corporation, Heraeus Holding GmbH, Polymetal International plc, and Royal Canadian Mint.