The market for precious metal jewellery is growing, with platinum offerings at the top of the rising demand.

That is according to the 2004 Mintel Precious Metal Jewellery Report, which shows a 28 per cent growth in the total market since 1998.

The research illustrates that platinum has in ever more cases become the material used in wedding and engagement rings, while white gold and silver, the metal of choice for younger consumers, have also increased greatly in popularity.

The findings also demonstrate a surge in the popularity of white metals, while silver has undergone a growth of around 34 per cent since 2001, partly due to sales of men's jewellery.

The market is now worth around £2,755 million, largely due to an increase in quality and innovation, as well as the increasing popularity of high-quality metals.

Michael Hoare, chief executive of the National Association of Goldsmiths (NAG), and chairman of the NJSG, told The Scotsman: "These are exciting times for the jewellery industry."

Mr Hoare added that "the industry must rise to the challenge and become more innovative and fashion-conscious", as it establishes new areas of growth.

Jewellery is the second largest application for platinum, accounting for over one-third of global platinum output.