United States (USA) Gems and Jewelry Market Overview, 2028

United States (USA) Gems and Jewelry Market Overview, 2028

The US gems and jewellery market stands as a dazzling testament to the intersection of artistry, luxury, and culture. Renowned for its intricate craftsmanship and exquisite designs, the market has evolved into a multi-billion-dollar industry that encapsulates a rich tapestry of history and contemporary trends. With a legacy dating back centuries, American jewellery has witnessed transformations influenced by diverse cultural influences, from indigenous traditions to European aesthetics, and now embraces a global fusion of styles. From iconic diamond districts to exclusive boutiques, the market caters to a wide spectrum of preferences, ranging from classic elegance to avant-garde innovation. In recent years, sustainability and ethical sourcing have become central themes, reflecting a growing conscientiousness among consumers. As technology intertwines with tradition, online platforms provide new avenues for both established jewellers and emerging designers to showcase their creations, ensuring that the USA gems and jewellery market continues to shine brilliantly on the international stage. Native American tribes have a rich history of crafting jewellery that reflects their deep connection to nature and spirituality. Using materials like turquoise, coral, and shells, they create pieces with intricate beadwork and symbolic designs, often passed down through generations. This indigenous influence continues to inspire modern jewellery designers, who incorporate these motifs and materials into their creations.

According to the research report ""United States of America Gems and Jewellery Market Overview, 2028,"" published by Bonafide Research, the United States of America Gems and Jewellery Market were valued at more than USD 69 Billion in 2022. Consumer preferences drive the design and style of jewellery on the market. As fashion trends evolve, so do preferences for specific gemstones, metals, and designs. For instance, shifts towards sustainable and ethically sourced materials, as well as demand for personalised and customizable pieces, are influencing how jewellery is produced and marketed. The influence of celebrities and pop culture on jewellery trends cannot be underestimated. High-profile events, such as award shows and red carpet appearances, often showcase exquisite jewellery pieces worn by celebrities. These appearances can spark trends and create demand for similar styles among consumers. Furthermore, Technological innovations have revolutionised the gems and jewellery industry, from design and manufacturing to distribution and marketing. 3D printing, CAD modelling, and advanced gemstone analysis tools have transformed how jewellery is created and presented, enabling designers to bring intricate and unique pieces to life. Based on the material types, they include gold, silver, platinum, diamonds, and others. Among them, diamonds are the second-highest market in the USA as material types, and the tradition of giving diamond engagement rings gained significant traction in the USA largely due to De Beers' marketing efforts. The company promoted the idea that a diamond engagement ring was an essential symbol of love and commitment. This tradition became widely accepted and has since become a cultural norm, reinforcing the demand for diamond jewellery. The USA's celebrity culture has had a significant impact on jewellery trends. When influential figures, including celebrities and royalty, wear diamonds, it often sets a trend that is emulated by the public. High-profile events like celebrity engagements and weddings have further elevated the popularity of diamond jewellery.

Based on the Product types, there are rings, necklaces, earrings, bracelets, chains, pendants, and others. In the USA, the Ring has the highest market share. The practise of exchanging rings during engagements and weddings is deeply rooted in American culture. The tradition of presenting a ring as a symbol of commitment and love has been perpetuated through generations and is widely considered a crucial element of marriage rituals. Rings have been spotlighted in popular culture, including movies, TV shows, and celebrity engagements. High-profile events and celebrity endorsements can significantly impact jewellery trends, amplifying the popularity of rings. Rings are commonly chosen as gifts for special occasions such as birthdays, anniversaries, graduations, and milestones. The thoughtfulness and lasting nature of a ring as a gift contribute to its popularity. Based on application types, these include weddings, Collections, Festive blessings, fashions, and others. Among them, weddings are leading the supplication of the gems and jewellery market. Weddings are a time of celebration, love, and commitment. Rings, especially engagement and wedding rings, symbolise the eternal bond between partners. Jewellery serves as a tangible representation of the emotional connection shared by the couple, making it an integral part of the wedding experience. The exchange of rings as part of wedding ceremonies is a cultural norm with strong historical roots. This tradition has been passed down through generations and remains a central element of weddings across different communities. As a result, the demand for engagement rings, wedding bands, and other jewellery pieces associated with weddings is consistently high.

The distribution channel for gems and jewellery in the United States includes Jewellery Stores, Multi Branded Stores, Standalone Stores, and Online, with Jewellery Stores leading the way. Jewellery stores offer expert guidance from trained professionals who can assist customers in making informed decisions. Consumers often value the knowledge and advice provided by experienced jewellers, especially when making significant purchases like engagement rings or investment-grade pieces. Furthermore, Jewellery is a highly personal and sentimental purchase. Jewellery stores provide a physical space where customers can see, touch, and try on pieces before making a decision. This tactile experience is crucial in helping individuals find pieces that resonate with their style and preferences. There are many Jewellery Stores that provide a wide range of jewellery, including Tiffany & Co., Cartier, Harry Winston, and many more.

Trade Show and Events:

JCK Las Vegas: JCK Las Vegas is one of the largest and most prominent jewelry trade shows in North America. It features a wide range of jewelry, gemstones, and watches from around the world. This event attracts retailers, wholesalers, and industry professionals.

AGTA GemFair Tucson: Held annually in Tucson, Arizona, this event is organized by the American Gem Trade Association (AGTA). It focuses on colored gemstones, pearls, and other colored gem materials, drawing gemstone dealers, miners, and collectors.

Tucson Gem and Mineral Show: This is one of the world's largest gem and mineral shows, featuring a diverse array of gems, minerals, fossils, and jewelry. It takes place in various locations across Tucson, Arizona, during February.

NY NOW - The Market for Home, Lifestyle, and Gift: While not exclusively focused on jewelry, NY NOW is a major trade show in New York City that includes a significant jewelry section. It features a variety of fashion, accessories, and jewelry designers.

Considered in this report

• Geography: USA
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report

• USA Gems & Jewelry with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Material

• Gold
• Silver
• Platinum
• Diamond
• Others (Gemstones, palladium, titanium, bronze, copper, brass)

By Product

• Rings
• Necklaces
• Earrings
• Bracelets
• Chains and Pendants
• Others (brooches, cufflinks, and hair accessories)

By Application

• Weddings
• Collections
• Festive Blessing
• Fashions
• Others (birthdays, graduations, or religious holidays)

By Distribution Channel

• Jewelry Stores
• Multi Branded Stores
• Standalone
• Online

The approach of the report:

This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources.

Intended audience

This report can be useful to industry consultants, manufacturers, suppliers, associations and organizations related to the Gems & Jewelry industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.