Meycauayan, Bulacan has been long dubbed as the jewelry capital of the Philippines due to its assortment of small, cottage-type firms engaged in the production of precious metal jewelry such as gold and precious and semi-precious stones including lab grown diamonds, colored gemstones, and pearls.
In the 1990s, diamond manufacturing giant De Beers placed the Philippine diamond jewelry market at $62 million.
Given that diamonds are considered to account for just 20% to 30% of the jewelry market, it can be assumed that the total jewelry market for the entire land could actually be as high as $200 million.
While no official statistics nor reliable data can confirm the market size of the Philippine jewelry industry, there are key areas in the country where most of the jewelry manufacturing take place.
With places like Benguet, the Caraga Region, Cebu, Davao, Metro Manila, and Bulacan at the helm, the demand for locally manufactured jewelry remains bright and brilliant.
The state of the market in the jewelry capital
It has been reported that there are about 2,000 registered and unregistered jewelry manufacturers in the province of Bulacan, mostly located in Meycauayan.
Meycauayan, Bulacan jewelers are known all over the country as trusted providers who place emphasis on producing engagement rings and wedding bands typically made from quality lab grown diamonds and other solid locally sourced materials.
About 97% of the jewelry manufacturing firms are under single proprietorship, with the oldest established in the 1950s.
The local association Meycauayan Jewelry Industry Association, Inc. (MJIA), formed in 1985, took on the gargantuan task of assuming the lead role in overseeing the development of the homegrown jewelry industry.
Originally starting with a smallish group of just 37 founding companies, it has now grown to over 100 members and still continues to grow its community numbers through the years.
There are several facets to the Meycauayan jewelry production process including marketing, raw materials, tools, financial, government support, exports, and worker training – with each component presenting its own strengths and opportunities.
In many respects, the city’s jewelry industry is similar to other jewelry producing areas in the Philippines in the sense that it focuses on small production volumes via locally procured materials, places emphasis on bespoke or made-to-order creations, and produces each piece through careful and mindful handcrafting by a local artisan.
A namesake jewelry company leading the way
A namesake company, Meycauayan Jewelries, is one of Meycauayan’s proudest and most successful providers of locally made fine jewelry.
By relying on the availability of raw materials from the country’s abundant and seemingly endless supply of natural resources, the cleverly acquired equipment and technology present to aid in the jewelry production process, and the exceptionally skilled hands involved in this labor-intensive