United States Jewelry Market Report 2032

The U.S. jewelry market, valued at USD 60.39 billion in 2023, is projected to reach USD 82.33 billion by 2031, growing at a CAGR of 3.95% between 2024 and 2031. Growth is driven by rising demand for luxury and personalized jewelry, innovations in design, and the expansion of e-commerce, with virtual try-ons and AI recommendations enhancing the online shopping experience.

Sustainability trends are also reshaping the market, as more consumers seek ethically sourced and eco-friendly jewelry. Brands are responding with transparent supply chains and green practices. New design trends, blending modern and classic styles, appeal to a broad demographic.

Leading companies like Pandora, Richemont North America, and Signet Jewelers leverage strong brand images and wide product ranges to maintain their competitive edge.

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Key Market Drivers

• Foreign Brand Expansion: International brands are opening stores in U.S. urban hubs, bringing diverse global styles and raising retail standards. Example: Tanishq opened its first U.S. store in January 2023.
• Creativity and Innovation: Advanced technologies like 3D printing, CAD, and AR enable brands to offer customized, unique pieces. Collaborations, such as Tiffany & Co.’s 2024 launch with Pharrell Williams, bring fresh designs to market.
• Online Sales Surge: E-commerce is transforming jewelry retail, offering wider accessibility and enhanced customer experiences. Brands like Brilliant Earth are leveraging online platforms to reach broader audiences and promote sustainable collections.

Future Outlook (2024–2031)

• Luxury segment growth, fueled by high-net-worth individuals and rising disposable income.
• Integration of wearable technology into jewelry, appealing to tech-savvy consumers.
• Continued innovation and collaboration in design, with exploration of new materials and production methods.

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