U.S. Jewelry Market Faces a Shift in Diamond Value, Gold Affordability and Consumer Demand | Arizton

According to Arizton research the U.S. jewelry market is projected to grow from USD 92.78 billion in 2025 to USD 114.55 billion by 2031, at a CAGR of 3.58%. Market growth is being shaped by changing consumer preferences, differences in natural and lab-grown diamond pricing, and rising sourcing costs. In 2025, lab-grown diamonds accounted for 15% of independent jewelers' diamond sales by value, compared with 85% for natural diamonds, as falling prices limited their share of revenue despite higher sales volumes.
Demand for personalized designs, everyday jewelry, and colored gemstones is also creating new product opportunities. Meanwhile, tariffs, import regulations, and responsible sourcing requirements are affecting procurement costs and supply chain decisions. These factors are important for businesses assessing product demand, protecting margins, and planning future sourcing strategies.

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U.S. Jewelry Market Report Scope
Market Size (2031): USD 114.55 Billion
Market Size (2025): USD 92.78 Billion
CAGR (2025-2031):3.58%
Historic Year:2022- 2024
Base Year:2025
Forecast Year:2026-2031
Segments Covered: Product Type, Material Type, Category, Distribution Channel, Age Group, Gender, and Geography
Geographic Analysis: South, West, Midwest, and Northeast

U.S. Jewelry Market: Acquisitions, Product Expansion, and Retail Partnerships Signal a Shift in Growth Strategies
1. Tocara Group Acquires Swarovski's U.S. Direct-Selling Jewelry Business
On April 1, 2026, Tocara Group acquired Touchstone Crystal, Swarovski's U.S. direct-selling jewelry business. The transaction highlights portfolio realignment in the jewelry sector, as established brands reassess their business priorities and ownership structures.

2. Pandora Expands Its Jewelry Portfolio Beyond Silver
On February 4, 2026, Pandora entered the platinum-plated jewelry category with designs positioned around durability and everyday wear. The move broadens its product offering while addressing its longer-term reliance on silver, a key input in its jewelry business.

3. Claire's Expands Through More Than 7,000 Additional Retail Touchpoints
In May 2026, Claire's entered an exclusive licensing agreement to expand distribution through retailers including Walmart, Kohl's, and CVS. The strategy shifts its growth model toward partner-led distribution, creating opportunities to reach consumers through established retail networks.

4. Tiffany & Co. Invests in a Landmark Luxury Retail Destination in Tokyo
In July 2025, Tiffany & Co. opened its largest Asian flagship in Ginza, Tokyo. The store combines architecture, art, and immersive customer experiences, reflecting the role of premium retail destinations in strengthening luxury brand positioning and customer engagement.

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U.S. Jewelry Market Trends
Growing Focus on Sustainable and Responsible Sourcing
Sustainable and responsible sourcing is becoming an increasingly important consideration in the U.S. jewelry market. Consumer expectations around recycled metals, gemstone origins, and ethical production are pushing brands to strengthen supplier oversight and improve material traceability. These requirements are also influencing procurement decisions and supply chain management.
Pandora provides a clear example of this shift. The company completed its transition to recycled gold and silver ahead of its original 2025 target, estimating that the change would reduce supply chain carbon emissions by approximately 58,000 tons of CO2 annually. The transition also required adjustments to its supplier network and measures to verify material sourcing.
For jewelry businesses, responsible sourcing is increasingly linked to supplier selection, operational costs, and the ability to demonstrate the sustainability credentials of their products.

Growing Appeal of Stackable Jewelry
Stackable jewelry is gaining traction in the U.S. market as consumers seek versatile designs that allow for personalization and everyday styling. Rings, bracelets, bangles, and chains that can be layered or combined are encouraging shoppers to build coordinated collections over time. For retailers, this creates opportunities to increase multi-item purchases through complementary designs and collections at different price points.
The trend was evident in Mejuri's Puzzle Collection. In March 2026, Glossy reported that most customers purchasing from the line bought at least three pieces to create coordinated ring stacks. This illustrates how stackable designs can encourage customers to purchase multiple complementary items rather than a single piece, supporting repeat purchases and higher basket values.

U.S. Jewelry Market Drivers
Millennials and Gen Z Expand Demand Beyond Traditional Jewelry Purchases
Millennials and Gen Z are broadening jewelry demand beyond bridal, gifting, and special occasions, with greater interest in everyday wear, self-expression, personalized designs, and self-purchases. This shift is creating opportunities for brands to reach younger consumers through accessible price points, versatile collections, and designs that reflect individual preferences.
Pandora's Talisman Collection, launched in August 2025 and fronted by singer Tyla, reflects this approach. With prices starting at around USD 45, the collection introduced Roman-inspired motifs at an accessible price point, aligning with younger consumers' interest in expressive jewelry. Such product strategies help brands appeal to consumers who view jewelry as part of their everyday style rather than an occasional purchase.

Lab-Grown Diamonds Expand the Reach of Diamond Jewelry
Lab-grown diamonds are opening up a broader customer base for diamond jewelry in the U.S. market. Lower prices allow consumers to consider larger stones and more personalized designs within their budgets, supporting demand for engagement rings and everyday diamond pieces. For retailers, lab-grown diamonds offer a distinct price segment, although falling prices can also affect revenue per sale.
According to Fortune on November 18, 2025, more than half of couples chose a lab-grown diamond for their engagement ring for the first time, up six percentage points from the previous year and 40% from 2019. This growing acceptance signals a shift in engagement ring purchasing preferences and creates opportunities for retailers to reassess their diamond assortments, pricing strategies, and product positioning.

U.S. Jewelry Market Restraints
Low-Cost Imports and Counterfeits Intensify Price Pressure
Low-cost online jewelry, imitation designs, and counterfeit products are increasing price pressure across the U.S. jewelry market. Platforms such as Shein and Temu offer inexpensive alternatives that challenge established brands on price, while counterfeit products threaten the value of distinctive designs and brand reputation. Falling lab-grown diamond prices add further pressure, particularly for businesses competing across different diamond price segments.
The impact extends beyond pricing to brand protection and consumer trust. On April 23, 2025, U.S. Customs and Border Protection announced the seizure of 1,708 suspected counterfeit jewelry pieces resembling Van Cleef & Arpels' Alhambra designs in El Paso, Texas. The agency estimated the genuine products' retail value at approximately USD 9.22 million. The case highlights the financial exposure luxury brands face from counterfeit jewelry and the challenge of protecting the value of their designs.

Tariffs and Regulatory Changes Increase Sourcing Complexity
Tariffs and evolving import requirements are adding cost and uncertainty to U.S. jewelry supply chains. Changes in duty rates and de minimis treatment have increased pressure on import-dependent businesses, requiring them to reassess sourcing locations, shipping arrangements, inventory planning, and retail pricing. Requirements related to supplier documentation, diamond disclosure, and product descriptions also add to compliance responsibilities.
Pandora illustrates how these pressures can affect distribution decisions. Facing potential exposure to a 36% U.S. import tariff on products manufactured in Thailand, the company adjusted aspects of its distribution strategy. According to Rapaport, Pandora began shipping some products directly to markets such as Canada and Latin America to reduce the risk of double taxation. Such adjustments demonstrate how tariff uncertainty can influence supply chain structures and cross-border product flows.

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U.S. Jewelry Market Segmentation Insights
Insights by Product Type: Rings
Rings accounted for approximately 38% of the U.S. jewelry market in 2025, supported by bridal purchases, everyday wear, and self-purchases. Demand for customized engagement rings, stackable bands, and lab-grown diamond designs is broadening the segment beyond traditional wedding occasions. For retailers, rings offer opportunities to serve different price points through customization, diamond options, and complementary designs.

Insights by Material Type: Gold
Gold held approximately 45% of the U.S. jewelry market in 2025. High gold prices supported market value but also encouraged some consumers to consider lighter designs and gold-plated alternatives. Meanwhile, affluent buyers continued to support premium gold jewelry. This split in demand makes product assortment and pricing critical, with opportunities across both affordable gold-look jewelry and solid gold collections.

Insights by Category: Unbranded Jewelry
The unbranded segment held the largest market share in 2025, supported by independent jewelers, generic suppliers, and private-label products. However, rising material costs and price competition increased pressure on margins. Customization, repair services, appraisals, and flexible sourcing provide ways for independent retailers to differentiate their offerings without competing solely on price.

Insights by Distribution Channel: Offline
Offline retail remained important for bridal, fine, and luxury jewelry, where customers value product inspection and personalized guidance. Jewelry brands are also using physical stores to strengthen customer relationships and support high-value purchases, while digital platforms drive product discovery. Retailers that connect in-store experiences with online shopping can strengthen customer confidence and improve purchase conversion.

Insights by Age Group: 45 and Above
Consumers aged 45 and above remained an important customer group for premium jewelry, natural diamonds, and established brands. Milestone occasions, craftsmanship, and long-term value support demand, while resizing, redesign, and heirloom services add opportunities beyond new product sales. Retailers can build stronger customer relationships through personalized consultations and specialized after-sales services.

Insights by Gender: Female
The female segment accounted for the largest share of the U.S. jewelry market and was projected to grow at a CAGR of 3.59% during the forecast period. Self-purchases, bridal jewelry, gifting, and everyday accessories support demand across price ranges. Stackable rings, layered necklaces, and lab-grown diamond designs are also expanding product choices. For brands, versatile collections and accessible price points can help attract new buyers and encourage repeat purchases.

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U.S. Jewelry Market Geographical Analysis
Southern Region
The South region anchors the U.S. jewelry market, accounting for around 37% of market share and supported by its large and growing population, expanding metropolitan markets, and diverse consumer demographics. The region consists of the Southeast and Southwest divisions, creating a broad jewelry market shaped by differences in population growth, household incomes, consumer preferences, and retail development.

Southeast Region
The Southeast benefits from population growth and diverse consumer demand, with Florida serving as an important market for fine jewelry, bridal purchases, luxury shopping, and gifting. North Carolina further strengthens the regional market through investment in bridal and fine jewelry, while Atlanta supports contemporary retail concepts and personalized shopping experiences. In February 2025, Diamond Direct began construction on a showroom near Raleigh's Crabtree Valley Mall. In January 2026, Zales introduced its next generation The Edit concept in Atlanta, combining digital product curation, localized storytelling, and personalized consultations, with plans to expand into Florida.

Southwest Region
The Southwest is more concentrated, with Texas serving as a major fine jewelry and bridal retail hub. Its growing metropolitan markets and established jewelry ecosystem support demand for engagement rings, fine jewelry, and contemporary designs. Brilliant Earth expanded its showroom presence across major Texas metropolitan areas, using appointment-based physical retail to complement digital customer acquisition. Houston also supports a strong independent jewelry network, including more than 100 independent jewelers, diamond dealers, and custom designers in its Jewelry District.

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U.S. Jewelry Market Competitive Landscape
The U.S. jewelry market remained highly fragmented and competitive in 2025, comprising independent jewelers, national retail chains, luxury brands, department stores, and digitally native players. Competition varied across price points, with businesses differentiating themselves through brand recognition, craftsmanship, product quality, customization, and customer service. Independent jewelers benefited from personalized service and local relationships, while national retailers leveraged established brands and omnichannel capabilities. Luxury houses maintained premium positioning through heritage, exclusivity, and craftsmanship. Meanwhile, retailers increasingly prioritized store productivity, brand differentiation, operational efficiency, and digital integration over physical expansion alone. Overall, competitive positioning depended on balancing pricing, customer experience, product differentiation, and distribution efficiency.

What Key Findings Will Our Research Analysis Reveal?
• How big is the U.S. jewelry market?
• What is the growth rate of the U.S. Jewelry market?
• Which region dominates the U.S. jewelry market?
• What are the key trends in the U.S. jewelry market?
• Who are the key vendors in the U.S. jewelry market?

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Founded in 2017, Arizton Advisory & Intelligence delivers data-driven market research and strategic consulting that empowers clients to make informed decisions and drive growth. Combining quantitative and qualitative insights, we provide in-depth analysis across industries including Agriculture, Consumer Goods, Technology, Automotive, Healthcare, Data Centers, and Logistics. Recognized by top-tier media, our expert team transforms complex market data into actionable strategies, helping clients anticipate trends, seize opportunities, and stay ahead of the competition.

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Source: Arizton Advisory & Intelligence

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