Jewelry Manufacturing in the US - Industry Market Research Report

Precious gems: Relaxing price competition is expected to create opportunities for new manufacturers to enter the space

Jewelry manufacturers produce jewelry items or silverware using precious or semiprecious metals and stones. Jewelry sales are largely discretionary in nature. Luxury and custom jewelry items are dependent on downstream demand from consumers. Per capita disposable income has increased in recent years, although these increases did not translate to higher demand in 2020, mainly due to increasing uncertainty. Similarly, the global price of gold and silver skyrocketed since the COVID-19 pandemic, with jewelry prices following closely. Manufacturers are characterized by significant price competition, resulting in falling demand amid higher prices. These factors have led to jewelry manufacturing revenue falling at a CAGR of 2.6% to an estimated $21.5 billion over the past five years, falling a projected 1.9% in 2023 alone. Operators in this industry manufacture jewelry or silverware using precious or semiprecious metals and stones. Costume jewelry manufacturers, specialty coin producers and lapidaries (artisans that form stones, minerals and other durable materials into decorative items such as cameos and engraved gems) are also included in this industry. This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.