U.S. Jewelry Market - Focused Insights 2021-2030

US JEWELRY MARKET INSIGHTS

The U.S. jewelry market was valued at USD 78.40 billion in 2024 and is expected to reach USD 97.62 billion by 2030, growing at a CAGR of 3.72%. The rise of digitally native brands has disrupted traditional distribution, with many focusing on direct-to-consumer strategies supported by data analytics, influencer marketing, and agile supply chains. This has fragmented the market, allowing smaller, design-driven brands to gain ground alongside established players, while driving innovation in design, packaging, and customer service to boost brand loyalty.

US JEWELRY MARKET TRENDS & DRIVERS

Bespoke and Custom-Made Jewelry

Personalization and customization have emerged as key trends in the U.S. jewelry market, driven by growing consumer demand for pieces that reflect personal identity, style, and emotional significance. This trend is especially strong among younger consumers aged 25–44, who value meaningful, unique purchases over mass-produced items. In response, brands are offering various customization options—from engraved names and dates to fully bespoke designs—across rings, necklaces, bracelets, and watches. Custom-made pieces are gaining popularity, particularly in the fine jewelry and bridal categories. Leading players like Tiffany & Co. and Pandora have embraced this trend with offerings like customizable charms, birthstone jewelry, and engraved wedding bands. Additionally, modular designs and 3D visualization tools are empowering customers to personalize their jewelry online, further enhancing the appeal of tailored experiences.

Growing Influence of Millennial and Gen Z Shoppers

Millennials and Gen Z are playing a growing role in shaping the U.S. jewelry market, driven by changing lifestyles, technological adoption, and evolving values. These younger consumers increasingly favor online shopping for its convenience, variety, and transparency, fueling the growth of digital-first jewelry brands. Unlike previous generations, they tend to be less loyal to traditional names and more open to independent designers and boutique labels. Jewelry that reflects their values—such as sustainability, ethical sourcing, and inclusivity—is particularly appealing. Brands like Brilliant Earth, known for conflict-free diamonds and responsible practices, have gained strong traction among socially conscious buyers. Additionally, the rising demand for “affordable luxury” and trend-forward designs is encouraging legacy brands to adapt by offering more accessible and inclusive collections.

INDUSTRY RESTRAINTS

Fluctuating Raw Material Prices

The prices of key raw materials in jewelry production—such as gold, silver, diamonds, and platinum—are highly volatile, driven by factors like global supply-demand shifts, geopolitical tensions, and natural disasters. These fluctuations can significantly impact the profitability of jewelry manufacturers, as raw materials constitute a major share of production costs. Gold, in particular, is sensitive to inflation, currency movements, and market speculation. Sharp increases in gold prices can raise consumer costs and exert pricing pressure on brands. In response, manufacturers may be forced to either increase prices or accept reduced margins, potentially affecting overall sales performance.

US JEWELRY MARKET SEGMENTATION INSIGHTS

• By Product Type: The ring segment accounts for the largest U.S. jewelry market share, holding over 43%. Its growth is largely driven by strong ties to life milestones like engagements, weddings, and anniversaries—occasions that remain culturally significant and sustain demand even during economic downturns. The emotional and symbolic value of rings contributes to their high average transaction value, with many consumers viewing them as long-term investments. Customization is also gaining momentum in this segment, as buyers increasingly seek personalized touches such as engravings, unique gemstone settings, and bespoke designs, reflecting the broader market trend toward meaningful, individualized jewelry.
• By Material Type: The diamond segment is experiencing notable growth, with the fastest projected CAGR of 3.97% during the forecast period. Diamond jewelry continues to dominate the U.S. luxury market, upheld by its perceived rarity, brilliance, and deep symbolic value, especially in the bridal category, where diamond engagement rings remain a cultural standard. High emotional and aspirational associations make diamonds a favored choice for milestone purchases, often positioned as heirlooms or symbols of commitment, which drives strong margins for retailers. Growing interest in ethical sourcing and sustainability has boosted demand for lab-grown diamonds, particularly among younger consumers drawn to their affordability and eco-friendly appeal.
• By Category: The unbranded segment holds the largest share of the U.S. jewelry market, driven by consumers who prioritize aesthetic appeal and affordability over brand recognition. This segment thrives in mass retail outlets, flea markets, artisan shops, and online platforms, where pricing flexibility is a key advantage. Without the premium associated with branding and marketing, unbranded jewelry is typically more accessible, particularly appealing to younger buyers and gift shoppers looking for variety rather than luxury. Unbranded pieces also offer greater design versatility and quicker adaptation to fashion trends, with independent jewelers often producing unique or handmade items. However, the segment is facing increased competition from emerging direct-to-consumer (DTC) and white-label brands. In response, some unbranded sellers are adopting semi-branding strategies, highlighting local craftsmanship, sustainable materials, and customization to stand out in an increasingly competitive market.
• By Distribution Channel: The offline segment remains the dominant distribution channel in the U.S. jewelry market, led by physical retail locations such as traditional jewelry stores, department stores, and specialty boutiques. These outlets offer key advantages like personalized service, the ability to closely inspect items, and the tactile experience of trying on jewelry, especially important for high-value or custom pieces like engagement rings. For luxury and high-end brands, offline stores play a crucial role in fostering brand loyalty through curated in-store experiences and attentive customer service.
• By Age Group: The 24–45 age group is the fastest-growing segment in the U.S. jewelry market, showing the highest CAGR during the forecast period. Comprised largely of millennials and young families, this demographic often has increasing disposable income and tends to invest in both everyday jewelry and significant milestone pieces such as engagement rings, wedding bands, and anniversary gifts. They typically seek a balance between style and value, favoring fashionable yet high-quality jewelry made from materials like gold, platinum, or diamonds. This group is digitally savvy, relying heavily on online research, reviews, and brand content before making purchase decisions—whether online or in-store. As a result, retailers are focusing on integrated digital experiences, offering features like virtual consultations and seamless cross-channel services.
• By Gender: The female consumer segment remains the driving force in the U.S. jewelry market, accounting for the majority of both self-purchases and gifted items. Jewelry continues to hold strong appeal among women for everyday fashion, emotional expression, and milestone celebrations. Their preferences span a wide range—from fine pieces like diamond rings and gold necklaces to trend-driven fashion jewelry such as layered chains and charm bracelets, prompting brands to diversify offerings across styles and price points. A key trend is the rise in self-purchasing, particularly among women aged 25–44, who are motivated by financial independence and personal expression. This behavior is boosting demand in the premium fashion and fine jewelry segments.

COMPETITIVE LANDSCAPE

The U.S. jewelry market report features exclusive insights on 26 key vendors, highlighting a diverse competitive landscape. Leading names such as Tiffany & Co., Signet Jewelers, Harry Winston, CHANEL, and Cartier each cater to distinct segments of the luxury and high-end market. Tiffany & Co. is celebrated for its iconic blue box and accessible luxury, blending classic elegance with modern appeal. Signet Jewelers, the largest specialty retailer, commands broad market reach through brands like Kay and Zales. Harry Winston targets the ultra-luxury segment with rare diamonds and bespoke creations, while CHANEL leverages its fashion heritage to appeal to an exclusive, style-conscious clientele. Cartier stands out for its legacy of haute joaillerie, combining craftsmanship and prestige. Despite their varied positioning, these brands sustain strong market presence through differentiated offerings grounded in quality, design, and heritage.

RECENT VENDOR ACTIVITIES

• On May 19, 2024, luxury jeweler Harry Winston made headlines as a 29.29-carat diamond ring from the brand was listed for auction at Bonhams New York. Expected to fetch up to $1.9 billion at the June 6 auction, the D-color, VVS2-clarity, type IIa marquise-cut ring exemplifies Harry Winston’s legacy in crafting rare, valuable, and historic gemstones. The event highlighted not only the brand’s timeless appeal but also the vibrancy of the U.S. high jewelry auction scene, where collectors seek heritage and prestige.
• On May 3, 2025, Pandora launched a special-edition heart-shaped silver charm in collaboration with UNICEF, featuring a blue center stone representing the organization’s signature color. This initiative reflects Pandora’s continued commitment to social responsibility and has contributed to raising nearly $14 million over the past five years to support global youth education, particularly for girls, reinforcing the brand's impact-driven engagement in the U.S. and global jewelry markets.